Senate orders DPR to seal-off filling stations hoarding fuel

Senate

28 May 2015, Abuja – Senate Joint Committee on Petroleum Resources ( Upstream and Downstream ), currently investigating the lingering fuel scarcity in the country, has directed the Department of...

Nigeria may lose N985bn oil revenue this year – PwC

28 mAY 2015, Abuja – Should oil price average $55 barrels per day this year and recent oil production trends in the country continue, Nigeria could see about $5bn (N985bn) oil revenue shortfall, PricewaterhouseCoopers has said. PwC’s...

Petrol sells for N110 at depots

28 May 2015, Lagos – Tankers loading petrol from depots in Apapa, Lagos are currently paying between N90 and N110 per litre instead of the N82 before the advent of the current scarcity of the product in the market. This, according...

Man, 28, in court for stealing police fuel

28 May 2015, Lagos – A commercial motorcyclist, popularly called ` Okada rider’, Abiola Salawu, who allegedly stole 50 litres of petrol from the Ketu Police Station, Lagos State, on Thursday appeared before an Ogudu Chief Magistrates’...

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Power generation, marketing and distribution updates

Court stops NERC from increasing electricity tariff

29 May 2015, Lagos – A Federal High Court in Lagos on Thursday restrained the Nigerian Electricity Regulatory Commission, (NERC), from implementing the new electricity tariff which was to take effect from June 1. Dr. Sam Amadi, NERC boss The Judge, Justice Mohammed Idris, gave the order, in a ruling on an ex-parte application filed by a Lagos-based lawyer, Mr Toluwani Adebiyi. Idris restrained...

Nigeria, others purchase one million Total’s solar lamps

28 May 2015, Lagos – French oil major, Total, said it had sold one million solar lamps in Nigeria and the rest of Africa, targeting sales of five million lamps on the continent in 2020. Total had in 2012 inaugurated the Awango by Total programme to market solar lamps providing affordable...

Seven Energy begins delivery of gas to Alaoji Power Station

Alaoji Combined Cycle Power plant. *Gas supply adds 504Mw of to the national grid May 22, 2015, Sweetcrude, Lagos – Seven Energy International Limited (“Seven Energy”), the indigenous Nigerian integrated gas company, through its wholly owned subsidiary, Accugas,...

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...

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

African economies grew by 3.9 per cent GDP in 2014

Africa cities GDP growth projection.

Africa cities GDP growth projection. …Amid global and regional shocks 28 May 2015, Sweetcrude, Lagos – African economies registered 3.9% average GDP growth in 2014 compared to the 3.7% in 2013....

Financial Inclusion – GTBank, Etisalat target 55 million unbanked Nigerians

Counting the worlds unbanked.

Counting the worlds unbanked. 28 May 2015, Lagos – Guarantee Trust Bank (GTB) and Etisalat have formed a business partnership targeted at connecting 55 million unbanked Nigerians in the next few...

Financial market products & services update

Currency notes, coins and gold bars. 28 May 2015, Sweetcrude, Houston – local and international financial market products and services update. NIGERIA: Nigeria’s total external merchandise...

Financial market products & services update

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)...

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...