JTF arrests 8 oil thieves, destroys illegal refineries in Imo, Delta, Edo

Illegal-refining-in-the-delta

Mkpoikana Udoma 29 January 2015, Sweetcrude, Port Harcourt – The Joint Military Task Force, JTF, saddled with the responsibility of tackling oil theft, illegal refining and pipeline vandalism in...

Falling oil price will not reduce Nigerian Content scope in projects – Nwapa

Ernest-Nwapa

28 January 2015, Lagos – The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Ernest Nwapa, has rejected the request by some oil companies to reduce the Nigerian Content scope in oil and gas projects because of the falling price of crude oil. Nwapa Speaking at the just-concluded 19th edition of Offshore West...

Oando reduces Rights Issue price to N16.50

28 January 2015, Lagos – Oando Plc has reduced the price of its Rights Issue from N22.00 to N16.50, while it increased the volume of shares to 2.956 billion. The integrated oil company,  which is listed on the Nigerian Stock Exchange...

FG, states to cut cost over oil slump

28 January 2015, Abuja – Abuja – The Federal Ministry of Finance, the commissioners of finance and accountants-general of the 36 states of the federation have begun moves to reduce the high cost of governance in the country...

NNPC releases 1,500 trucks of kerosene

28 January 2015, Calabar – Mr Ikenna Okpani, the Media Officer of the Port Harcourt Refining Petroleum Company Ltd., on Wednesday said that the Nigerian National Petroleum Corporation (NNPC) released 1,500 trucks of kerosene to the public. Okpani...

Power generation, marketing and distribution updates

EKEDC commences tender process for embedded power ‎project

Kunle Kalejaye 29 January 2015, Sweetcrude, Lagos – Eko Electricity Distribution Company, EKEDC, has started the tender process to select partners that would give it embedded power as part of its plan to ensure improved power supply in its area of coverage. EKEDC’s Assistant Manager, Corporate Communication, Mr Godwin Idemudia, in statement obtained by SweetcrudeReports, said the...

Govt accuses distribution companies of rejecting power allocations

28 January 2015, Lagos – As Nigerians grapple with the challenges of inadequate electricity supply, the federal government has accused some electricity distribution companies of rejecting power allocated to them for distribution to customers. Speaking during a recent visit to the Corporate...

Nigeria needs 160,000MW to satisfy demand for stable power – Nebo

28 January 2015, Abuja – The Minister of Power, Prof. Chinedu Nebo, has said the country will need about 160,000 megawatts in order to reach the globally accepted standards and satisfy the demand for stable power supply for the 170 million Nigerians. Prof Nebo Nebo,...

Schneider highlights limitations of solar energy

28 January 2015, Lagos – Schneider Electrics last week said that even as solar energy is considered one of the best options to the grid electricity generation, the problem with it was the space. The company’s new Country President, Mr Walid Sheta said that...

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

Oando reduces Rights Issue price to N16.50

Oando logo

28 January 2015, Lagos – Oando Plc has reduced the price of its Rights Issue from N22.00 to N16.50, while it increased the volume of shares to 2.956 billion. The integrated oil company,  which...

FG, states to cut cost over oil slump

Dr. Ngozi-Okonjo-Iweala

28 January 2015, Abuja – Abuja – The Federal Ministry of Finance, the commissioners of finance and accountants-general of the 36 states of the federation have begun moves to reduce the high...

Tin-Can Island Customs generates N284.2bn in 2014

27 January 2014, Lagos – The Tin Can Island Command of the Nigeria Customs Service, NCS, has said it generated N284.2 billion in 2014 up from N240.1 billion recorded in the corresponding period...

Firm predicts further naira devaluation after elections

26 January 2015, Lagos – A research and financial advisory firm, the WSTC, Financial Services Limited has predicted another adjustment in the naira exchange rate band against the dollar after the...

Why insurance is hard sell in Nigeria

insurance

21 December 2014, Lagos – Insurance  business remains a hard sell in Nigeria today. This unpalatable news, according to industry stakeholders, is definitely not music in the ears of insurance companies...

Govt targets N1tr in insurance premiums by 2017

Ngozi-Okonjo-Iweala-manag-001

09 December 2014, Abuja – The Coordinating Minster for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday said the federal government was committed to growing the Gross Written...

Level playing field for Local, foreign insurers is necessary – Fashola

24 September 2014, Lagos – Managing Director of Industrial and General Insurance Plc (IGI), Mr. Rotimi Fashola, in this interview with Nnamdi Duru, spoke on the need for a level playing field for...

EI-Anchor Pension targets N3bn share capital

16 September 2014, Abuja – Managing Director of IEI-Anchor Pension Managers, Solomon Okoli has assured shareholders that the company has overcome its teething problems and is now positioned for...

Govt releases new conditions for coal blocks licensing

Coal fossil fuel

20 January 2015, Lagos – Potential licencees willing to engage in the mining of coal across coal belts in Nigeria are now required to possess  bankable and tenable coal-fired power plant to qualify...

6 foreign firms, Dangote to begin mining gold, iron ore in 2015

19 January 2015, Lagos – The Nigeria Mining Cadastre Office said on Monday that six foreign mining companies and Dangote Group of Companies would commence mining of gold, iron ore, coal and lead/zinc in 2015. Alhaji Aliko Dangote, President, Dangote Group The Director-General of the Office, Mr Mohammed Amate, made the disclosure in an interview with...