Category: Business News
Business News
How Nigeria can end rising crude oil theft
In 2020, the Nigerian Extractive Industry Transparency Initiative (NEITI) said Nigeria’s loss to crude oil theft stands at $4.19 billion yearly. Reportedly, Nigeria is losing over 300,000 barrels of crude oil per day to oil theft, vandalism and other related criminal vices in the country. The implications, according to reports released by NEITI include loss of revenue, environmental disaster, a threat to regional peace and security, the proliferation of arms and a poor investment climate.
Nigeria — where President Buhari had to say sorry for a power cut
For many Nigerian children who have never been abroad, few stories about the West are as fascinating as the fact that electricity can stay on from dusk till dawn seven days a week.
Fuel queues disappearing, electricity supply improving as Buhari summons Ministers, others
The president had earlier expressed his concern over frequent power outages, apologising to Nigerians and assuring of prompt solution to the challenges.
FG is determined to end crude oil theft, says Sylva
The Minister of State Petroleum Resources, Chief Timipre Sylva, said this on Wednesday at Bonny Island, Rivers, while addressing officers of the 146 Battalion and other security agencies represented in the fight against oil theft.
2022 Africa Oil Week holds October 3 in Cape Town
Under the theme ‘Sustainable Growth in a Low Carbon World’, Africa Oil Week will advocate the importance of developing hydrocarbons in Africa and the sustainable development of oil and gas.
CSR: Ikeja Electric upgrades electrical workshop at Govt Tech College to boost technical education
At the commissioning ceremony held on Tuesday, March 15, 2022 at the College, IE noted that the gesture was aimed at boosting technical education in the state, while complementing the efforts of government through its Corporate Social Responsibility (CSR) initiatives.
Egbin Power inducts 30 graduate engineers to drive human capital development in power sector
Egbin, a subsidiary of the Sahara Power Group, has so far inducted over 200 graduate trainee engineers as it continues to “proactively, responsibly and sustainably shape Nigeria’s power narrative for socio-economic advancement and industrialization,” said Kola Adesina, Group Managing Director, Sahara Power Group.
Europe announces an additional US$170bn of finance for Africa, as stakeholders prepare to gather in Brussels for the 24th Africa Energy Forum this June
Simon Gosling, Managing Director of EnergyNet, commented “It’s great to be back to full capacity!! As we reflect on the past 24 months it feels like the world has truly adjusted and is daring to be more responsible in investment decision making. However, responsible investing needs to be aligned with the reality of the private sector which can only survive in a profit enabled world, seeking out new revenue streams to maintain a strong and sustainable business.
Global Energy Alliance for People and Planet and OLADE to co-chair multi-continent private sector investor’s summits in Washington D.C.
This super high-level round table will focus on market liquidity and the enabling environments for the private sector, the future role of SOEs to support the transition and the challenges governments can face as they consider how diversifying sector revenue flows will impact energy security.
It will be Co-Chaired by Alfonso Blanco Bonilla, Executive Secretary at OLADE; and Joseph Nganga, from the Global Energy Alliance for People and Planet.
We’ve quietly removed electricity subsidy, fuel subsidy to follow, says FG
Speaking on Thursday at a virtual meeting of African Finance Ministers and the International Monetary Fund, Ahmed also said the amendment of the budget was ongoing to accommodate the incremental removal of fuel subsidy. The theme of the meeting was ‘The political economy of fiscal reforms’.