Energy - Platformsafrica

PIB: Buhari approved 5% for host communities, Minister slashed it — Senator

July 23, 2021July 23, 2021 Efe Wellington

A former Governor of Bayelsa State, Senator Henry Dickson, has exposed how the Minister of State for Petroleum, Timipre Sylva, allegedly proposed 2.5 per cent operating surplus to Host Communities while President Muhammadu Buhari proposed 5 per cent in the Petroleum Industry Bill (PIB). Platforms Africa reports that the Senator made the revelation when he spoke with newsmen on the contentious issue on Thursday in Abuja. READ ALSO: Nigeria’s Oil Ministry Spent N98.4m to print PIB awareness leaflets -Senate Newly-Passed PIB Satanic, Unjust, N’Delta Leader Edwin Clark Thunders OPEC Throws…

Integrated Energy in Trouble as Court Freezes N2.8bn Accounts in 25 banks

July 9, 2021 ADESUPO OSOSANYA

Energy distribition and marketing firm’s bickering with UBA degenerates A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd (IEDMC) and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance. Justice Daniel Osiaigor, who made the interim order of Mareva Injunction, held that it subsists pending the hearing and determination of a motion on notice filed against…

OPEC Throws Weights Behind Nigerian President, NASS on PIB

July 7, 2021July 7, 2021 ADESUPO OSOSANYA

“Newly passed PIB will help guide the necessary reforms designed to strengthen institutions, solidify regulatory and fiscal frameworks and attract the much-needed investment in a sustainable manner.” The Organisation of Petroleum Exporting Countries (OPEC) has supported the passage of Petroleum Industry Bill (PIB) by the Nigeria’s National Assembly. commending President Muhammadu Buhari and the lawmakers on the passage. OPEC Secretary-General, Dr Mohammad Barkindo, gave the commendation at the ongoing 20th Nigeria Oil and Gas Conference (NOG) in Abuja, on Tuesday. READ ALSO: PIB: Analysts Up Oil Prosperity Forecast for Nigeria,…

Nigeria overlooks $14m Bail Bond, Frees Detained Vessel to Swiss Govt FoC

July 5, 2021 Aliyu Aliyu

Here are the roles Vice President Osinbajo, AGF Malami others played + How degerating diplomatic ties between Nigeria and Switzerland were safeguarded More facts have emerged on reasons the Nigerian Government released and handed over a detained vessel, MT San Padre Pio, to the government of Switzerland, free of charge despite a $14 million bail bond in its favour. Platforms Africa reports that the Swiss government and the Nigerian government have been in Court over the issue, which began three years ago. The Swiss went to the International Tribunal…

Ikeja Electric Inducts 20 Young Engineers, Deepens Nigeria’s Power Sector Human Capital Dev.

July 2, 2021July 2, 2021 Adeola Yusuf

Nigeria’s largest Electricity Distribution Company, Ikeja Electric (IE), has deepened investment for the country’s human capital development as it inducted 20 young Engineers into a 12 months comprehensive developmental programme. Platforms Africa reports that the programme is targeted at young, dynamic, self-motivated and highly driven young talent to improve their capacity and practical field practice experience. The programme, which is in its sixth edition, is known as the Young Engineers’ Programme (YEP). Speaking at the induction ceremony, which took place Thursday, July 1, 2021 in Lagos, the Chief Executive Officer of…

Hurdles as Nigeria NASS Passes 20-yr old Oil Bill +Effects on NNPC, N’Delta

July 1, 2021July 1, 2021 Adeola Yusuf

NNPC’s Equity Sale through IPO, N280 per litre petrol price through subsidy removal, award of 3% development fund and gas flaring fines to host communities and others are details of the bill provided in this report. Beyond these, Platforms Africa highlights reasons investors and Nigerians can not rejoice yet. Nigeria’s legislators on Thursday ended a 20-year foot-dragging on Petroleum Industry Bill (PIB) at they approved the long-delayed oil and gas law that aims to, among other thngs, transform the Nigerian National Petroleum Corporation (NNPC) to a profit-driven…

Fenix International announces name change to ENGIE Energy Access Nigeria

June 29, 2021 Efe Wellington

Fenix International, a leader in Nigeria’s pay-as-you-go (PAYGo) solar industry, has announced the change of name to ENGIE Energy Access Nigeria. Platforms Africa reports that the announcement of a new name for the company with operations in 11 states across Nigeria (Lagos, Kwara, Oyo, Kogi, Enugu, Ebonyi, Benue, Plateau, Nasarawa, Ondo and Niger), was made at a press conference held in Lagos, Nigeria’s commercial capital. READ ALSO: BREAKING: How We Arrested IPOB leader, Nnamdi Kanu – Nigerian Govt + PHOTOS Imam Shot Dead, 12 Children, Others Injured as Masquerades…

How Winners of NCDMB, NEXIM Bank’s Women in Oil Sector US$40m Will Emerge

June 29, 2021June 29, 2021 ADESUPO OSOSANYA

Qualified women entrepreneurs in the Nigerian Oil and Gas industry can now benefit from the US$40 million Women in Oil and Gas Intervention Fund deployed by the Nigerian Content Development and Monitoring Board (NCDMB) and Nexim Nigerian Export-Import Bank. The NCDMB is contributing US$20m to the pool and it will be matched by the same amount in Naira by NEXIM, to be converted at prevailing official exchange rate. The Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote and the Managing Director of Nexim Nigerian Export-Import Bank, Mr. Abubakar Bello signed the…

Nigeria suffers N10trn losses to Power Epilepsy in 12 Months—World Bank

June 28, 2021 ADESUPO OSOSANYA

Despite various interventions by the Federal Government to improve power supply in the country, a recent World Bank report has revealed that annually, Nigeria’s economy still loses between N7 trillion and N10 trillion to epileptic power supply. It said the total sum represents 5-7per cent of the country’s GDP. The report obtained by Platforms Africa was released on June 16 by the World Bank under the Power Sector Recovery Programme to flag the new Nigeria Development Update (NDU). READ ALSO: Cracks Rock Nigeria Fuel Marketers’ Group Over Planned…

Cracks Rock Nigeria Fuel Marketers’ Group Over Planned Nationwide Strike

June 28, 2021June 28, 2021 Gbenga Adeoti

“You are on your own, we will not join strike,” Western Zone backs out of IPMAN proposed Nationwide Cracks on Monday rocked the Independent Petroleum Marketers Association of Nigeria as the Western Zone of the group backed out of the proposed nationwide strike declared by the national body. The zone directed all depots and petrol stations to go about their normal business and ensure free flow and hiche-free supply and distribution of Petroleum products across the Southwest. READ ALSO: EFCC advances Nadabo Energy Trial Over N1.4 bn fuel…