Damilola Shittu – Abuja The Minister of Power, Works and Housing, Mr Babatunde Fashola says the power to revoke licenses of non-performing electricity Distribution Companies is vested in the Nigerian Electricity Regulatory Commission (NERC). Fashola said this on Thursday in Abuja at the 2019 Punuka Annual Lecture with the theme: “Rethinking the Model for an…
Oke Peter with Agency Report Sirieco, a Slovak company plans to set up a plant in Nigeria, to assemble electric cars and manufacture the new-generation incandescent bulbs, the company’s CEO, Groidis Peter, announced during a recent visit to the West African nation. The plant will be located at Calabar in Cross River State, South-East Nigeria,…
Construction of a one-million-barrel capacity onshore terminal in Nigeria has been approved by the Department of Petroleum Resources (DPR). Chairman of Green Energy International Ltd. (GEIL), Professor Anthony Adegbulugbe revealed the reports and said that issuance of the Approval to Construct (ATC) was sequel to the department’s review of the detailed engineering design for the…
Only seven out of the 87 deepwater oil blocks in Nigeria are producing, while six are at different phases of development, the Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has said. Baru also said more than half of the deepwater blocks were open and urged players in the oil and…
Jumoke Adelabu – Abuja Even though the Federal Government had anchored a significant part of its diversification programme on the mining sector, it made only N10.97bn from fees and royalties paid by mining operators in four years, an investigation has shown. In a document on the performance of the sector, the Minister of State for…
Oke Peter with Agency Report Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive Officers, were tied to more than $1bn in bribery payments. The Federal Government had in…
Nigeria is set to receive US $21m from the United Kingdom and Africa Enterprise Challenge Fund (AECF) to support the deployment of solar generated electricity small businesses in the country. The funds will provide a mix of interest free loans and repayable grants and technical assistance to private sector operators in the solar business. It…
The agreement is the second EPSA signed since South Sudan gained independence in 2012 and shows progress for the country’s oil industry as production resumes at existing oilfields and new exploration begins. According to the ESI Africa, the deal will see Block B2 operated by state-owned Strategic Fuel Fund (SFF), the Ministry of Petroleum and…
The Nigeria Employers’ Consultative Association (NECA), has joined the Global Dialogue Forum on Decent Work in the management of electrical and electronic waste (e-waste), which took place in Geneva recently, as part of ILO Centenary celebrations. According to NECA, Nigeria’s representative at the forum, the discussion focused on current and emerging issues as well as…
An investment fund focused on the development of renewable energy projects in sub-Saharan Africa, Frontier Energy II, has achieved final close at $227 million. The capital raised so far has been mainly invested in East Africa, but the fund is expected to increase its investments into other countries in sub-Saharan Africa in the medium term….
