Navy has achieved drastic reduction in crude oil theft – Jibrin

Chief of Naval Staff, Vice Admiral Usman Jibrin

27 May 2015, Lagos – The Chief of Naval Staff (CNS), Vice Adm. Usman Jibrin, has said that the Nigerian Navy in the last one year has achieved a drastic reduction in crude oil theft. Jibrin who...

Our in-house power tussle aggravated petrol scarcity, says IPMAN

27 May 2015, Lagos – The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Wednesday said that its prolonged in-house tussle for control of its affairs by various groups and power blocs contributed in no small measure...

Fuel queues will disappear next week – Marketers

27 May 2015, Lagos – The nation may continue to grapple with the effect of the latest fuel crisis until next week as marketers of petroleum products have said the current supply challenge may not end this week. Fuel queue The marketers...

NUPENG backs removal of subsidy

27 May 2015, Lagos – The Nigeria Union of Petroleum and Natural Gas Workers has reversed its position on petroleum products subsidy and has declared its support for its total removal. The union said that the subsidy funds should...

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Power generation, marketing and distribution updates

Power firms declare force majeure over tariffs, insurgency

27 May 2015, Lagos – Some electricity distribution companies popularly known as DISCOs have declared political force majeure, the Bureau of Public Enterprises, BPE,  has said. Professor Chinedu Nebo, Nigeria’s Minister of Power. The Head of Public Communications at the privatisation agency, Mr. Alex Okoh, who said this in a statement made available to our correspondent in Abuja on...

Youths protest power outage in Benin

27 May 2015, Lagos – Residents of Ogbebuhia, Trade Fair and Erediauwa areas in Oredo Local Government Area of Edo State have protested over the lingering power outage in their communities. Adams Oshiomhole, Edo State governor The aggrieved residents, who marched to the headquarters of the...

Power outage: Prices of generators soar in Kano

26 May 2015, Kano – Prices of gasoline generators have gone up in Kano because of the poor power supply being experienced in the city. A survey  revealed that a medium generator which used to cost N30, 000 three months ago is now sold at between N40, 000 and...

18 power generating stations shut down

26 May 2015, Abuja – Eighteen power generation plants out of the 23 in the country are currently not generating electricity. As a result, the country has lost over 2,000 megawatts of electricity. Egbin power plant. Though the government has often blamed the poor...

Monitoring of ongoing projects undertaken by the Niger Delta Power Holding Company, NDPHC. View More Pictures...

Financial market products & services update

Currency notes, financial chart and a compass.

Currency notes, financial chart and a compass. 27 May 2015, Sweetcrude, Houston – Local and international financial market products and services update. NIGERIA: The International Monetary Fund (IMF)...

Energy Crisis: Capital market operators foresee low patronage

Nigerian-Stock-Exchange.NSE

26 May 2015, Lagos – Some capital market operators have expressed fears that the ongoing national energy crisis if not checked would paralyse activities at the Nigerian capital market. They told...

Financial market products & services update

Coins on a financial chart. 26 May 2015, Sweetcrude, Houston – Local and international financial market products and services update. NIGERIA: The Federal Government on Monday signed an agreement...

Anxiety grips market operators over BGL’s suspension

25 May 2015, Lagos – Anxiety and fears have gripped some capital market operators who are fond of  unethical practices and have swindled investors following  the decision of the Securities and...

NLNG records 30% revenue decline

NLNG

18 May 2015, Lagos – Nigeria’s dwindling revenue profile is expected to worsen further, as the Nigeria Liquefied Natural Gas, NLNG, has said it has recorded a 30 per cent decline in its revenue...

Nigeria, Africa rank least in insurance penetration

Femi Oyetunji, CEO, Continental Reinsurance Plc

Mr. Femi Oyetunji 20 April 2014, Lagos – The Chief Executive Officer of  has said Africa ranks the least in terms insurance penetration with  3.5 per cent among the continents. Similarly, within...

No premium, no cover: Government agencies refuse to insure assets – Fashola

12 March 2014, Lagos – Group Managing Director of Industrial and General Insurance Plc, IGI, Mr. Rotimi Fashola has said that many government ministries and agencies no longer insure their assets...

CRFFN takes up life insurance scheme for members

25 February 2015, lagos – The Council for the Regulation of Freight Forwarding in Nigeria, CRFFN, has taken up a life insurance scheme of N1 million, for its members in case of death. Disclosing...

Mining: Group seeks involvement in developing sector

Lead poisoning in Nigeria

19 May 2015, Abuja – The Nigerian Mining and Geosciences Society, NMGS, has expressed readiness to be part of the effective development of the nation’s mineral resources as the incoming government...

South Africa: Deputy president not benefitting from Eskom coal Contracts

South Africa's Deputy President, Cyril Ramaphosa.

South Africa’s Deputy President, Cyril Ramaphosa. 27 April 2022, Johanessburg – Office of the Deputy President, Cyril Ramaphosa on Saturday said it takes exception to statements made by energy analyst, Ted Blom, that the Deputy President had benefited improperly from Eskom coal contracts. Blom said this during a press club briefing held in Cape...