Nigeria Navy hands over 11 suspected oil thieves to EFCC

EFCC Nigeria

02 March 2015, Yenagoa – Navy Captain Noel Madugu, Commanding Officer, Forward Operating Base, Brass, says the Nigerian Navy has handed over 11 suspected oil thieves to the Economic and Financial...

Oil marketer remanded over alleged N36.7m fraud

02 March 2015, Lagos — An Ebute Meta Chief Magistrate’s Court sitting in Oyingbo, Lagos State has remanded an oil marketer, Otunba Aremu Lola-Anjorin, in prison custody pending when he is able to meet his bail applications over alleged N36.7 million fraud. The oil marketer and his firm, Bonvic Gold Oil Limited, were charged before Magistrate O. Olatunji,...

Arepo killings: Court dismisses defendants no-case application

02 March 2015, Lagos – A Federal High Court in Lagos has dismissed the no-case application filed by the 20 suspected pipeline vandals, who were accused of killing nine policemen in the foiled May 24, 2014 oil bunkering deal in the...

Remove subsidies on petroleum products, LCCI tells govt

02 March 2015, Lagos – The Lagos Chamber of Commerce and Industry has called on the Federal Government to completely remove subsidies on petroleum products. While reacting to the outcome of the deliberations of the Senate on the...

Opposition leaders behind fuel scarcity, says Mu’azu

02 March 2015, Abuja – National Chairman of the Peoples Democratic Party, Adamu Mu’aazu, on Monday alleged that the current fuel scarcity in the country was sponsored by some opposition leaders. Fuel queue Mu’azu, in a series...

Power generation, marketing and distribution updates

Power: Govt firm to generate 500MW from coal

02 March 2015, Abuja – The Federal Government has announced that it has entered into a partnership with an indigenous firm, One Nation Energy Limited, to generate 500 megawatts of electricity from coal. Coal mine According to the government, the partnership will ensure the addition of 500MW of electricity to the national grid as part of its quest for adequate energy mix for an efficient...

NERC prescribes micro-grid power generation for industrial clusters

Sam-Amadi, NERC 01 March 2015, Abuja — THE Nigerian Electricity Regulatory Commission (NERC) has urged manufacturers to embrace micro-grid power generation model for industrial clusters, to ensure cost effective and reliable electricity for production. Already, NERC has unfolded plans to engage...

APR Energy renews 106mw of contracts in Sub-Saharan Africa

APR Energy *Jacksonville, Florida — Includes 40MW contract term extension in Angola 01 March 2015, Newswire - APR Energy, the global leader in large scale, fast-track power solutions, announces today that it has signed 106MW of contract extensions in Sub-Saharan...

GE completes installation of mobile gas turbines for Port Harcourt Refinery

GE’s Trailer-Mounted Aeroderivative Gas Turbines *GE’s Trailer-Mounted Aeroderivative Gas Turbines to Provide Port Harcourt Refinery with Uninterrupted Power to Overcome Local Grid Outages *Project to Use Locally Trained GE Engineers to Support Operation 01 March...

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

CBN recertifies 14 more BDCs

Central Bank of Nigeria, CBN

Central Bank of Nigeria, CBN 02 March 2015, Lagos — The Central Bank of Nigeria (CBN) has again recertified 14 more Bureaux De Change (BDCs) operators to continue in operation. This brings the total...

IFC & Ghana’s Acca promote improved corporate governance, sustainability

International Finance Corporation, IFC

International Finance Corporation, IFC 01 March 2015, Washington, DC — IFC, a member of the World Bank Group,and the Association of Chartered Certified Accountants, Ghana’s global professional...

E&P oil firms using stock sales to de-lever

28 February 2015, News Wires – Exploration and production companies are bracing for a sustained period of low commodity prices by deleveraging through stock sales – and well-funded firms are...

Price stability: Expert commends CBN for adopting ‘Float’ exchange rate mechanism

Central Bank of Nigeria, CBN. 27 February 2015, Lagos - A financial expert, Mr Sewa Wusu, on Wednesday commended the Central Bank of Nigeria, CBN, for adopting the “float” exchange rate mechanism...

CRFFN takes up life insurance scheme for members

insurance

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...

Nigeria: Compulsory insurance certificate now precondition for contract awards

Nigeria's Commissioner for Insurance Mr. Fola Daniel

  Nigeria’s Commissioner for Insurance Mr. Fola Daniel o8 January 2015, Benin - The Federal Government has said it will soon mandate all those seeking for government contracts to present their...

Why insurance is hard sell in Nigeria

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

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...

Firm to invest N60bn in Jos steel milll

Steel

27 February 2015, Abuja – The Eta Zuma Group, which acquired the Jos Steel Rolling Mill from the Federal Government in 2005, has said that it will spend $300m (about N60bn) to rehabilitate the steel...

Nigeria: Steel manufacturers lament hike in electricity tariff

Liquid steel being poured into a mold.

Liquid steel being poured into a mold. Oscarline Onwuemenyi 26 February 2015, Sweetcrude, Abuja - The Steel Manufacturing Group of the Manufacturers Association of Nigeria, MAN, yesterday threatened to shut down operations in the face of persistent hike in electricity tariff without commensurate increase in power supply, even as it lamented that the hike...