Dogara berates Akande over oil barons statement

Yakubu Dogara, Speaker, House of Representatives, Nigeria

29 June 2015, Abuja – The Speaker of the House of Representatives, Mr. Yakubu Dogara, on Monday challenged the former All Progressives Congress Interim National Chairman, Chief Bisi Akande, to name...

llegal oil deal: Court adjourns trial of 14 foreigners

29 June 2015, Lagos -A Federal High Court in Lagos has further adjourned till July 7, 8, 9 and 10, 2015, the trial of 14 foreigners arraigned for allegedly dealing in petroleum products within the Nigerian territorial waters without lawful...

Bayelsa elders, chiefs protest alleged secret sale of oil, gas reserves

29 June 2015, Yenagoa – Elders and chiefs of Nembe Kingdom in Nembe Local Government Area of Bayelsa State have sent a protest letter to President Muhammadu Buhari over alleged secret sale of oil and gas reserves in the area by Shell...

$1.85bn oil block sale: Jonathan govt never sold oil blocks – Group

29 June 2015, Lagos -Move on Nigeria, a civic and political action group that promotes democracy and good governance has faulted claim by the Secretary General of NEITI, MS Scot Clare that the Federal Government under President Jonathan...

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Power generation, marketing and distribution updates

Ondo, Korean firm to build 550MW power plant

The Ondo State Government and a Korean firm, Kingline Development Limited, have concluded plans to boost industrialisation in the state with the construction of a 550-megawatts power plant valued at $500m (N99bn). The Chief Business Development Officer, Kingline Development Limited, Mr. Akinnola Fola, who disclosed this at a press briefing in Abuja on Friday, said the project would transform the...

Electricity consumers’ll pay efficient tariff – NERC

29 June 2015, Abuja – The Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi, has said that the commission will ensure that power customers pay only an efficient tariff. Amadi Amadi stated this in a statement on Sunday as he gave insight into the removal of technical losses...

Tanzania: Farmers to lose water access as Tanzania’s hydropower runs dry

President Jakaya Kikwete inspecting a hydro-electric plant at Kidatu. 29 June 2015, Dar es Salaam — Tanzania, home to Mt. Kilimanjaro and the Serengeti National Park, has a tradition of protecting land for the sake of ecological diversity and beauty. Now the country...

Eskom to implement stage 2 load shedding

Eskom Megawatt Park 29 June 2015, Pretoria – Eskom will implement stage 2 load shedding from 16h00 today, which is likely to continue until 22h00 this evening. This is due to increased electricity demand as a result of the cold front that is currently sweeping...

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

NNPC generates N8.1trn, remittes N4.3trn, pockets the balance”

President Mohammadu Buhari and Governor Adams Oshiomhole of Edo state.

President Mohammadu Buhari and Governor Adams Oshiomhole of Edo state. 29 June 2015, Abuja – The Nigerian National Petroleum Corporation, NNPC, generated about N8.1 trillion between 2012 and May...

Zenith, First Bank, GTbank & six others make top 1000 global banks list

Zenith-Bank-logo

30 June 2015, Lagos – Nine Nigeria banks made this year top 1000 global banks. The top 1000 global banks was released Monday by the Banker magazine in London. The banks that made the top 1000 global...

World markets tumble as Greece shuts its banks, imposed capital controls

29 June 2015, News Wires -World markets tumbled Monday as Greece shut its banks and imposed capital controls to halt a panic-driven run on ATMs, a day before Athens risked defaulting and possibly crashing...

Financial market products & services update

Financial markets 29 June 2015, Sweetcrude, Houston – Local and international financial market products and services update. NIGERIA: The Federal Government has incurred a total sum of N56.784bn...

Insurance industry earned N1.8tn premium in 11 years

Nigeria's Commissioner for Insurance Mr. Fola Daniel

19 June 2015, Lagos – The Nigerian insurance industry earned N1.8tn premium from life and non-life policies underwritten in an 11-year period up to 2014, investigation has shown. Mr. Fola Daniel,...

IEI interim management targets stability, competitiveness

iei

17 June 2015, Lagos – The interim board and management of International Energy Insurance (IEI) has  said  that its target is to stabilise the company  and create  stronger management support...

NCRIB commends LASG on insurance for security personnel

17 June 2015, Lagos – The Nigerian Council of Registered Insurance Brokers (NCRIB) has commended the Lagos State Government (LASG) for approval of upward review of the Group Life Insurance scheme...

NLNG records 30% revenue decline

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 loses over N8trn annually in untapped gold – Ekosin

gold

29 June 2015, Lagos – How would you rate the capacity of the Solid minerals sector in the nation’s economy? To talk about the capacity of the solid minerals sector in the country, how important...

Neglect of solid minerals: Why Nigeria remains poor

Solid minerals

Solid minerals 29 June 2015, Lagos – Economists, geologists and surveyors have long agreed that under the Nigerian soil are wealth and riches untold. But majority of Nigerians are wallowing in poverty. The Nigerian Extractive Industries and Transparency Initiative, NEITI report suggests that there are about 40 different kinds of solid minerals and...