The Federal Government has approved Dangote Refinery as the exclusive supplier of jet fuel for Nigeria’s airline operators. This was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during an interview with Channels TV on Tuesday. Keyamo revealed that with his approval and backing, the airline operators agreed to designate the 650,000 barrels per day refinery as the sole provider of jet fuel for the aviation sector. He noted that the move comes at an opportune time, following the Federal Government’s recent implementation of a naira-for-crude agreement…
Read MoreDay: October 8, 2024
Nigeria Embargoes Hajj Subsidy Ahead 2025 Pilgrimage
Muslims intending to travel to Saudi Arabia for the 2025 Hajj may have to pay more as the federal government of Nigeria has suspended subsidies for Hajj payments. The National Hajj Commission of Nigeria (NAHCON) confirmed the development in a statement issued on Monday through the commission’s spokesperson, Fatima Sanda Usara. It is worth noting that the government subsidies typically come in the form of a concessionary exchange rate, enabling pilgrims to purchase dollars at a lower rate from the Central Bank of Nigeria (CBN). However, Usara announced, “There will…
Read More‘Boats Collided, Capsized,’ How 21 People Drown in Lagos Lagoon Tragedy
‘Other passengers still remain unaccounted for,’ Details Lagos State Police PRO, Benjamin Hundeyin, gave on the calamity No fewer than 21 passengers are feared drowned in a boat accident that occurred on Monday at Imore town in the Amuwo-Odofin Local Government Area of Lagos State. The tragic incident occurred when two boats, ferrying 16 passengers each, collided and capsized in the middle of the lagoon. Why Alimosho LG Chair, Jelili Sulaimon, Was Suspended With Unanimous Vote – Lagos Assembly IT’S OFFICIAL: Earth Now Has Two Moons Minister To NNPC: Shelve…
Read MoreMinister To NNPC: Shelve Running Govt Refineries, Face Equity In Dangote Refinery, Others
. At CORAN Summit, Lokpobiri orders modular refineries committee to give concession to local bidders . As Dangote says, he built 650,000 barrels/day refineries without a single incentive Minister of state for Petroleum Resources (oil), Heineken Lokpobiri, on Tuesday charged the Nigerian National Petroleum Company Limited (NNPCL) to shelve running of its refineries and take equity in private refineries. Platforms Africa reports that Lokpobiri who said this at the maiden edition of Crude Oil Refiners Association of Nigeria ( COREN) Summit in Lagos, maintained that the government has also…
Read MoreWhy Nigeria May Face 3.1bcf/d Gas Supply Shortfall – NUPRC
If Nigeria fails to upgrade gas infrastructure and increase investments in renewable immediately, she may face a gas supply shortfall of 3.1 billion cubic feet per day (bcf/d) in the next six years, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has warned An investment to the tune of $20 billion yearly is required to bridge its infrastructure deficit challenges, according to stakeholders who attended the NAEC Energy Conference 2024 in Lagos, on Thursday. Gbenga Komolafe, the Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), who spoke at the event,…
Read MoreFubara To Wike: Let Go, We Need Peace, You Can’t Win All Fights
Governor Siminalayi Fubara of Rivers State, on Monday asked his predecessor, who is the Minister of the Federal Capital Territory, FCT, Nyesom Wike, to let go of his quest to control the state’s political affairs. In an interview with Channels Television, Fubara said Wike must understand that he cannot win all fights. The governor said Wike must give up the fight because of his love for Rivers, adding that there is no need to burn down the state. He said: “I will tell him (Wike) that there is going to…
Read MoreNaira Depreciates Against Dollar Amid FX Supply Drop
The naira depreciated against the dollar at the foreign exchange market to begin the week as FX supply dropped further. FMDQ data showed that the naira slightly weakened at N1635.15 per dollar on Monday compared to N1631.21 exchanged on Friday last week. This represents a marginal N3.94 depreciation against the dollar. Similarly, at the black market, the naira depreciated to N1775 per dollar on Monday from the N1770 exchange rate at the close of last week. This development comes as Foreign Exchange daily transaction turnover further slumped to $126.24 million…
Read MoreMan Stabbed To Death By Prostitute He Brought To His Home In Lagos
A 48-year-old man simply identified as Okafor has been stabbed to death allegedly by a prostitute, Joy Kelvin, who he brought to his home in the Jakande area last night October 6. Men of the Ilasan police division received a complaint today October 7, from a man that his friend, Okafor, was reportedly st@bbed in his house at the Jakande housing estate in Lekki. READ ALSO: Why Alimosho LG Chair, Jelili Sulaimon, Was Suspended With Unanimous Vote – Lagos Assembly ‘Better Days Ahead,’ Oil Contracting Cycle, Middlemen Fixed – NCDMB…
Read MoreWhy Alimosho LG Chair, Jelili Sulaimon, Was Suspended With Unanimous Vote – Lagos Assembly
+ What happened when Platforms Africa called the embattled Chairman of the biggest local government in Lagos The Lagos State House of Assembly on Monday handed down an indefinite suspension to the chairman of the Alimosho Local Government Area, Jelili Sulaimon. The suspension is with immediate effect. Platforms Africa reports that Sulaimon nether picked calls nor responded to messages seeking his reaction to the development. His media aide, Opeyemi, could also not be reached. Sitting at plenary, the lawmakers resolved that the vice chairman of the council, Mr. Akinpelu…
Read More‘Better Days Ahead,’ Oil Contracting Cycle, Middlemen Fixed – NCDMB
‘What Presidential Directives on Local Content got to do with it,’ Key points from what Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, said at a breakfast meeting with some media executives in Lagos The Nigerian oil and gas industry is set to enjoy better days ahead, as the Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had eliminated middlemen from the oil and gas industry value chain and contributed to shortening the oil industry contracting cycle to six months, courtesy of the three Presidential Directives…
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