Nigeria records 9,343 oil spill incidents in 10 years

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…The world’s worst record Kunle Kalejaye 03 September 2015, Sweetcrude, Lagos – Nigeria’s oil-rich Niger Delta region is characterised by a prevalence of both old and new oil...

NNPC to eradicate oil theft in eight months – Kachikwu

…Says 350 deaths recorded due to vandalism in 3 years Oscarline Onwuemenyi 03 September 2015, Sweetcrude, Abuja – Oil theft would be completely eradicated in the next eight months in the country, according to the Group Managing...

DESOPADEC: UDU youths threaten to shut oil wells

03 September 2015, Asaba – Angry youths of Udu, Udu Local Government Area in Delta State, have given the state government a seven-day ultimatum to address alleged marginalization of the area in the reconstituted board of the Delta...

‎Nigeria to export 68 oil cargoes in October

03 September 2015, Sweetcrude, Lagos – Nigeria will load 68 cargoes of crude oil in October, according to provisional loading programmes. Crude oil vessel. This is based on the country’s plan to export a total of at least...

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Power generation, marketing and distribution updates

Poor budgeting, misplaced procurement major problem in power sector – NERC

Oscarline Onwuemenyi 03 September 2015, Sweetcrude, Abuja – Chairman of Nigerian Electricity Regulatory Commission, NERC, Dr. Sam Amadi, has highlighted poor budgeting and misplaced procurement as some of the major challenges preventing generation, transmission and distribution companies in the power sector from improving their services and providing adequate power to Nigerians. NERC...

Power Reforms: Govt to strengthen NBET, NERC – Igali 

02 September 2015, Sweetcrude, Abuja – The Federal Government will continue to strengthen the Nigerian Bulk Electricity Trading Plc, NBET, the Nigerian Electricity Regulatory Commission, NERC, and the transmission company in furtherance of the reforms in the power sector, Permanent Secretary...

Dangote to invest in Zimbabwe’s power, coal sectors 

Oscarline Onwuemenyi 02 September 2015, Sweetcrude, Abuja – Africa’s richest man, Aliko Dangote, is considering investments in Zimbabwe’s cement, power generation and coal-mining industries as part of expansion plans in the southern African nation. Alhaji...

Dangote to invest in Zimbabwe’s power, coal sectors

Aliko Dangote meets President Robert Mugabe of Zimbabwe. Oscarline Onwuemenyi, with agency reports 02 September 2015, Sweetcrude, Abuja – Africa’s richest man, Aliko Dangote is considering investments in Zimbabwe’s cement, power generation and coal-mining...

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

‎Buhari under pressure to cut spending amid oil-price slump

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   …Recurrent spending makes up two-thirds of govt’s budget Oscarline Onwuemenyi 03 September 2015, Sweetcrude, Abuja – President Muhammadu Buhari’s is under a lot of pressure to cut...

Subsidy: Oil marketers optimistic govt will pay up

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Kunle Kalejaye 02 September 2015, Sweetcrude, Lagos – Petroleum products marketers in Nigeria’s downstream oil sub-sector are optimistic that their subsidy refunds and interests accumulated...

Mobile money gets boost as CBN loosens restriction on telcos

Mobile money 02 September 2015, Lagos – With the review of the mobile money guidelines, which allows for the participation of the telecommunication companies, the adoption of this form of banking...

Adesina assumes office as 8th President of the AfDB Group

Dr. Akinwumi Adesna, AfDB president.Akinwumi Adesina, AfDB 02 September 2015, Sweetcrude, Abidjan – “We must light up and power Africa – as a Bank we will launch a new deal on energy...

Regulator bars insurance firms from offshore investment

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18 August 2015, Lagos – The National Insurance Commission has barred insurance companies from investing in any business outside the country. Insurance firms are also prohibited from investing their...

Insurance operators bemoan high company income tax

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06 July 2015, Lagos – Insurance industry operators have expressed worry over the heavy tax burden placed on them by the Companies Income Tax Amendment Act 2007 (CITA), which now constitutes a big...

Insurance industry earned N1.8tn premium in 11 years

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

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...

As Nigeria hosts Africa Mining Conference

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20 August 2015, Lagos – From September 24 to 26, 2015, Nigeria shall be hosting Africa’s mining industry players in Abuja, with the theme, “Harnessing the continent’s solid minerals for economic...

Vision 2020: Edebiri makes case for steel industry

Steel

18 August 2015, Benin—President of Nigeria Institute of Welding, Dr. Solomon Edebiri, has warned that the attainment of vision 20-2020 by the Federal Government will be a mirage if the country fails to develop its steel industry, welding and fabrication capacities. He gave the warning in Benin, Edo State, at the induction programme for 20 candidates sponsored...