Category: Business News
Business News
Our target is to achieve 11,000MW of power supply by 2023 —Buhari
Being a text of an address delivered by President Muhammadu Buhari at the meeting with the President/ Chief Executive Officer, Siemens AG, Mr Joe Kaeser at the State House, on Monday, 22nd July, 2019. Thank you all for coming today and for the roles you have all played in planning what we hope will be…
NNPC trading surplus rises by 13% to N6.33bn in one month
By Oke Peter The Nigerian National Petroleum Corporation, (NNPC), Sunday, announced a trading surplus of N6.33 billion for the month of May 2019. In a statement on its Monthly Financial and Operations Report for May 2019, the NNPC disclosed that the trading surplus recorded in the month under review, represented an improvement of 13 percent…
Electricity customers can get meters, pay in instalments —NERC
Esther Ajibola – Lagos The Nigerian Electricity Regulatory Commission (NERC) has disclosed that electricity customers will be able to acquire meters without upfront payment starting from next month. NERC said customers could get meters and pay in instalments within one year or a maximum of 10 years, with the prices of a one-phase and three-phase…
Ikeja Electric, PEP Stores partner on customer bill payment
Ikeja Electric Plc. (IE) has collaborated with a multinational retail company, PEP Stores, to enable customers to pay bills or recharge their account at designated PEP Stores across Lagos. Under this partnership, post-paid and prepaid customers within IE network can pay their bills and recharge their account while doing regular shopping in PEP Stores located…
Ikeja Electric, Slot empower 40 youths through technical skills acquisition
In its determination aimed at reducing the unemployment rate in the country, Ikeja Electric Plc (IE) has partnered with Slot Foundation to train 40 young persons in skill acquisition and capacity building empowerment scheme tagged: ‘Youth Empowerment Program (YEP).’ YEP is one of IE’s Corporate Social Responsibility (CSR) initiatives designed to empower youths who are…
NNPC awards crude-for-fuel swap contracts
Oke Peter with Agency Report The Nigerian National Petroleum Corporation (NNPC) has issued award letters for contracts to exchange crude oil for imported petroleum products, Reuters quoted sources familiar with the matter as saying. A total of 15 groupings, with at least 34 companies in total, received award letters, four sources with knowledge of the…
Tunisian Minister of Industry and SMEs Slim Feriani signs six new oil and gas exploration permits
Tunisian Minister of Industry and Small and Medium Enterprises (SME’s), Dr Slim Feriani, has recently granted and approved six new oil and gas prospecting permit. The beneficiaries include Hezoua, Weha, Teskraya, Kef Abed, Metline and Saouaf. The event, held on 28th June, 2019, in the presence of the Chief Executive Officer (CEO) of the Tunisian…
Three containers of power transmission equipment missing —TCN
Managing Director of the Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed, on Wednesday announced that three containers of electricity transmission equipment were missing from the ports. He also revealed that one of the 775 containers recovered last week was empty. He made this disclosure to journalists in Abuja during a press conference. According…
Total Nigeria decries proliferation of taxes, declares N5.7bn dividend
Esther Ajibola – Lagos Total Nigeria Plc has berated the multiple taxes imposed on corporate entities by both the federal and local governments in the country, even as it declares N5.7 billion dividend for the financial year ended December 31, 2018. Addressing shareholders at the 41st Annual General Meeting (AGM), held in Lagos, the Chairman,…
Smugglers move Nigeria’s petrol to Ghana, Mali, others —NNPC
By Oke Peter Smugglers of Premium Motor Spirit, popularly known as petrol, smuggle the commodity to as far as Burkina Faso, Mali and Cote d’Ivoire, the Nigerian National Petroleum Corporation (NNPC) said on Wednesday. The corporation also stated that the commodity was being smuggled to neighbouring Ghana, adding that this was largely due to the…