Damilola Shittu – Abuja Minister of State, Mines and Steel, Abubakar Bwari, has said Nigeria still imports an estimated $3.3 billion worth of steel and associated derivatives annually. Bwari said at the 16th Edition of Mines and Money, in London, that Nigeria needed about 17 million tonnes of steel, but local production of the products…
Theme: NDCs Implementation by Nations: Nigeria’s Progress The Center for Agriculture and Climate Change was supported by the United Nations Information Center (UNIC) Lagos, in hosting the first ever Preparatory Conference of Parties (Pre-COP 24) Dialogue in Lagos, Nigeria’s and West Africa’s largest economic center. This was ahead of the UN Conference of Parties at…
By Darrell Proctor A new study from BloombergNEF (BNEF) says developing countries lead the way on new investments in clean energy, with those nations taking advantage of lower project costs for solar and wind power as they move away from fossil fuel-powered generation. Today’s report, from a survey by BNEF’s annual Climatescope project, says “emerging…
The House of Representatives has raised the alarm that Nigeria may have lost up to $10bn in the controversial Malabu oil deal in one transaction on Operating Licence 245. According to The Punch, the lower chamber said available data indicated that the deal was never in the interest of the country. The Chairman, House of…
Damilola Shittu – Abuja The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has signed a performance agreement with the management team to ensure the company delivers on its mandate. While signing the agreement on Wednesday in Abuja, Baru said it was part of the on-going efforts to reposition the organisation. He…
By Cyril Widdershoven The world’s largest oil company Saudi Aramco seems to have surprised the global energy markets the last couple of days. New announcements of multi-billion dollar investments in gas related operations, indicating a new move to make Saudi Arabia a major gas exporter, have been made public by the company’s CEO Amin Nasser….
Jumoke Adelabu – Benin City The Edo State governor, Mr Godwin Obaseki, on Tuesday, asked the Managing Director of the Benin Electricity Distribution Company, Mrs Funke Osibodu, to leave his office for “failing to meet obligations to electricity consumers in Edo and throwing the state into darkness for weeks.” The mild drama was said to…
Oil firms on Tuesday top the losers’ table at the the Nigerian Stock Exchange (NSE), the News Agency of Nigeria (NAN) reports. The oil firms are Seplat, Mobil oil and Forte Oil. Seplat led the laggards’ table with a loss of N62.70 to close at N590 per share while Mobil Oil trailed with a loss…
THE Minister of State for Petroleum Resources, Dr Emmanuel Kachikwu and Saudi Arabian Energy Minister, Khalid al-Falih have concluded plans to meet over instability in the international market as oil price drops to $60 per barrel. Investigation by Vanguard revealed that the crucial engagement will take place in Abuja, Nigeria, on November 28, 2018. A…
By Martin Tillier Usually, when a stock has jumped around fifty per cent in five months and twenty per cent in just the last week or so, I am looking to sell. The market tends to overdo moves like that and it is reasonable to assume at that point that you have missed most of…
