Category: Business

Ekpo Assures Of Security, Safety Of Investments In Gas Sector

ADEOLA YUSUF

Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo has assured of the security and safety of investments in the gas sector. The minister stated this on Wednesday while hosting top officials of Shanghai Huayi Energy Chemical Company Group of China (HUAYI) and China Road and Bridge Corporation, who are strategic investors in Brass Methanol and Gas Hub Project in Bayelsa State. Ekpo who spoke against the backdrop of political risks and security often nursed by prospective foreign investors to Nigeria, described the Brass project as one critical project of the…

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BUA Truck Attacked, Truckload of Spaghetti Looted + PHOTOS

ADEOLA YUSUF

Truck driver parked by the roadside to observe the Friday prayer.” You want to read details of how the we’re-hungry-chanting hoodlums struck, here!   Hoodlums have attacked a truck owned by BUA conveying cartons of spaghetti in the Dogarawa axis of Zaria-Kano Expressway. According to available information, the truckload of spaghetti in the BUA truck was on Friday attacked at about 3pm. READ ALSO: BREAKING: Yoruba Actor, Sisi Quadri, Is Dead Tinubu’s Nominee For CBN Job Rejects Appointment Army Uncovers 40 Wells Where Oil Thieves ‘Fetch’ Crude Oil Kunle Afolayan…

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Nigeria Gets 60% Of $30bn Afreximbank Oil & Gas Funding

ADEOLA YUSUF

The African Export-Import Bank on Wednesday, disclosed that it has become the largest financier of oil and gas projects in Africa. The bank disclosed investing $30bn in industry projects, with Nigeria receiving 60 per cent despite reduced global funding for hydrocarbon ventures in Africa President, Afreximbank, Prof Benedict Oramah, said Africa has to find innovative solutions to its huge energy deficit. Oramah was speaking at the National Oil Companies Forum at the ongoing Nigeria International Energy Summit in Abuja on Wednesday. Represented by Mr. Haytham ElMaayergi, Executive Vice President, Global…

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NNPCL Pledges To End Energy Scarcity In 10 Years

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited has assured Nigerians that the country’s energy scarcity will be over in the next 10 years. The NNPCL Group Chief Executive Officer, Mele Kyari, disclosed this Tuesday at the opening ceremony of the seventh edition of the Nigerian International Energy Summit held in Abuja. In a statement by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, assured stakeholders of the company’s commitment to work with them to close the energy deficit gap and create prosperity for Nigerians. “From all indications, all issues of energy…

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OB3 Gas Pipeline To Be Completed March 2024 – Ekpo

ADEOLA YUSUF

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has set March 2024 for the completion of the Obiafu/Obrikom/Oben (OB3) gas pipeline. Ekpo gave the new assurance in his industry address during the opening ceremony of the 7th edition of the Nigeria International Energy Summit (NIES 2024) at the Presidential Villa, Abuja on Tuesday. According to him, the projected completion timeline was in alignment with the estimates provided by Oilserv Limited. The pipeline is expected to deliver 2 billion cubic feet of natural gas per day from the Obiafu,…

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P’Harcourt Refinery 80% Completed, To Produce 2m Litres Fuel Daily – Minister

ADEOLA YUSUF

The Federal Government has said the Port Harcourt Refinery is 80 per cent completed and would produce two million litres of Premium Motor Spirit, otherwise known as petrol, and 2.2 million litres of diesel per day upon resuming operations. In a statement by the Director, Press and Public Relations in the Federal Ministry of Labour and Employment, Olajide Oshundun on Thursday, noted that the old plant of the refinery would produce 54,000 barrels per day, while the new plant which is in its last phase of completion, would start production…

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Nigerian Govt Stops Export Of Cooking Gas To Reduce Price

ADEOLA YUSUF

The federal government on Thursday, February 23, announced that it has stopped the exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas, to reduce the scarcity and soaring price in the country. Minister of State, Petroleum Resources, Ekperikpe Ekpo, broke the news to reports at the “Internal Stakeholders’ Workshop,” in Abuja. The theme of the workshop is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.” Asked what the government has done to control the rising cost of domestic gas, he said, the ministry is discussing constantly…

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Forex Crisis: Nigerian Govt Blocks Binance, Coinbase, Others

ADEOLA YUSUF

The Nigerian government has ordered internet service providers to block access to the websites and apps of major cryptocurrency trading platforms including Binance, Coinbase, and Kraken. Authorities said the move aims to crack down on the alleged use of these platforms by currency speculators and money launderers to manipulate the foreign exchange market and facilitate illicit fund flows, further weakening the struggling Nigerian naira. Sources at major telecommunication firms said they received directives from the Nigerian Communications Commission (NCC) on Wednesday evening to implement the blockade of Binance, ForexTime, OctaFX,…

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Nigeria Lacks Infrastructure, Automated System To Halt Frequent Grid Collapse – Minister

ADEOLA YUSUF

Nigeria’s power sector is lacking critical infrastructure and automated system that has left its grid system outrightly fragile. This according to the Power Minister, Adebayo Adelabu, has been the major causes of frequent grid collapse. Adelabu, revealed this in an interview disclosing that the power industry lacks backup system a crucial element present in other countries with contingency plans but lacking in Nigeria. He emphasizes the need for a backup grid to enhance the country’s power infrastructure resilience, pointing out its absence as a major factor in the recurrent disruptions.…

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“Death Can Come Any Time,” What Wigwe Said At Abdul Imoyo’s Burial

ADEOLA YUSUF

. Everything you need to Know: Last days and profile of Group Managing Director/CEO of Access Bank Plc who died with wife, son, and best friend in a helicopter crash   The Nigerian banking and business world has been jolted by the death in a helicopter crash of Herbert Wigwe, Chairman, Access Holdings, with some allies recalling his last days on earth. Platforms Africa reports that Wigwe died with his wife; only son, his best friend; and two others in the United States (U.S.) on Saturday, February 10, 2024. He…

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