Queues at Abuja petrol stations will soon disappear – DPR

Fuel-queue

03 July 2015, Abuja – The Department of Petroleum Resources (DPR) has said that fuel queues in Abuja will soon disappear as 3.2 million litres of petrol have been released to the city from Suleja Depot...

Petrol scarcity returns in Lagos

03 July 2015, Lagos – Activities at the various petrol depots in the Apapa axis of Lagos and other parts of the country were grounded on Thursday following very poor supply of Premium Motor Spirit (petrol) to them. Petrol tankers...

Oil falls further

Oil prices continue to drop 03 July 2015 – Oil prices dropped on Friday as a rising US rig count stoked fears of oversupply and after Chinese regulators opened an investigation into suspected stock market manipulation. Front-month...

Lagos APC cautions tanker drivers

02 July 2015, Lagos – The All Progressives Congress (APC) in Lagos State has cautioned tanker drivers to be mindful of the lives and properties of Lagosians. The party said the two tanker accidents are worrisome. It urged tanker...

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Power generation, marketing and distribution updates

Abuja’s power supply dips to 120MW from multiple system failure

03 July 2015, Abuja – Field reports gathered on Thursday in Abuja disclosed that multiple system collapses of transmission facilities of the Transmission Company of Nigeria (TCN) has cut available electricity supply to the federal capital city to about 120 megawatts (MW).The development which has lasted for more than 24 hours as at the time of filing this report, showed that even the city’s...

Elumelu calls for more investment in energy projects

03 July 2015, Lagos – The Chairman, Heirs Holdings, Mr. Tony Elumelu, has restated his commitment to the African Energy Leaders Group as it strives to encourage initiatives that will address energy challenges in Africa. Tony Elumelu, Chairman of Heirs Holdings Elumelu, who spoke in Abidjan,...

Power consumer advocacy network collapses after two months

03 July 2015, Abuja – The Nigerian Electricity Consumer Advocacy Network, which was inaugurated by the Nigerian Electricity Regulatory Commission about two months ago, has collapsed. Power transmission station While members of the group stated that its collapse...

Elumelu calls for an end to energy poverty

02 July 2015, Lagos – The Chairman of the United Bank for Africa Plc, Mr. Tony Elumelu, has noted that providing access to electricity for schools, hospitals, businesses and industries is the single most impactful intervention that can be made to transform the...

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

Investors see growing risks in naira devaluation delay

Bundles of N1000 Naira notes.

03 July 2015, Lagos – International investors, dismayed by Nigeria’s decision to delay a naira devaluation they see as long overdue, will hold back from its stock and bond markets, raising...

Trading of stocks below 50k on Nigerian bourse becomes effective

Nigerian-Stock-Exchange.NSE

03 July 2015, Lagos – The new par value rule that allows investors to trade shares below 50 kobo has been operative implying that over 40 companies that have been dormant on the Nigerian bourse...

Experts predict naira to dollar at 250…local currency falls further to 232

03 July 2015, Lagos – Economic and financial analysts on Thursday predicted that the naira might crash to 250 against the United States dollar at the parallel market in the next two weeks following...

Naira: Foreign investors shun bonds, equity market

03 July 2015, Lagos – The move, meant to conserve foreign exchange, has dashed widely-held expectations of naira devaluation – the central reform that investors had been banking on. Since then...

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...