Category: Business News
Business News
Digital Energy Festival to fuel six weeks of inspiring energy engagement for Africa
Digital Energy Festival for Africa kicks off on 20 October when four of Clarion Events’ leading energy brands join forces with an unprecedented six-week tour de force of quality content and engagement
World Bank supports FG on petrol subsidy removal
The World Bank noted that the Nigerian government had eliminated petrol subsidy and established a market-based pricing mechanism with no price ceilings.
Schneider Electric introduces new UPS smart solution to reduce total spend on electricity tariff
Schneider Electric on Monday announced the availability of a new category of Uninterrupted Power Supply (UPSs) smart solution from its APC, that can help electricity consumers in Nigeria reduce total spend on electricity tariff.
It’s not in our interest to remain sole importer of petrol —NNPC boss
But speaking during a downstream stakeholders’ meeting which held at the NNPC Towers, Abuja, Group Managing Director of the corporation, Mallam Mele Kyari, argued that it was not in the best interest of the national oil company to be the sole importer of fuel. A press release by the corporation’s Spokesman, Dr. Kennie Obateru, quoted Kyari as saying that concrete steps were being taken by the federal government to address the main concerns of marketers, especially the issue of availability of forex.
PPMC increases petrol price to N151.56 per litre
The Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of petrol from N138.62 to N151.56 per litre.
Electricity tariff reviews’ll now follow service-based principles —NERC
NERC explained in a media statement that “under these service-based principles Discos will only be able to review tariff rates for customers when they consult with customers, commit to increasing the number of hours of supply per day and quality of service. In all cases poor and vulnerable Nigerians will not experience any increase.”
Adesina re-elected as president of the AfDB Group
The announcement was made on Thursday, August 27, 2020 by the Board of Governors of the Bank. As the newly re-elected President, Dr Adesina will begin his new term on September 1, 2020.
Petroleum ministry vehicles to run on autogas, says Sylva
It was gathered on Tuesday that the Minister of State for Petroleum Resources, Chief Timipre Sylva, who gave the directive in Abuja, had already submitted all his vehicles to be converted to run on gas, as opposed to petrol.
Schneider Electric launches products to reduce Nigeria’s US$29 billion annual power disturbances cost
Based on figures from World Bank, the Nigerian economy annually loses as much as US $29 billion to power disturbances across its various sectors of its activities.