By Oke Peter At the backdrop of the continued comatose state of the Nigeria’s local refining capacity, the country may have spent about N10 trillion in the provision of pump price subsidy on imported petroleum products from 2006 to 2018. A research report by BudgIT, a public finance focused Non-Governmental Organisation (NGO), said this amount…
Mayowa Okekale – Abuja Better days are ahead for petroleum products consumers across the Country as the Nigerian National Petroleum Corporation (NNPC) and the Major Marketers Association of Nigeria (MOMAN) exchanged vows to strengthen synergy to ensure seamless supply of petroleum products across the country. Speaking during a MOMAN Chief Executive Officers Strategy Retreat Dinner…
Leading Electricity Distribution Company, Ikeja Electric (IE), has partnered with foremost mobile phones sales/support services company, Slot Foundation, to train 40 youths on repairs of Phones, Laptops and other mobile devices. The training, which is a Corporate Social Responsibility (CSR) initiative, will be held at the Slot Academy and will benefit 40 youths selected from…
Damilola Shittu with Agency Report The narrowing spread between Northwest European diesel and petrol cracks has helped support some Nigerian crude grades which have suffered from a lack of European demand, traders have said. The Amsterdam-Rotterdam-Antwerpfront-month diesel crack was assessed at $14.54 per barrel on Monday, with the benchmark ARA front-month Eurobob petrol crack at…
Themis, an Africa-focussed power company backed by Denham Capital, has partnered with Kingline Development Nigeria (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State, Nigeria. Themis, an Africa-focussed power company backed by Denham Capital, has partnered with Kingline Development Nigeria (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State,…
The East African Community (EAC) has secured $2.5 billion loan from the African Development Bank (AfDB) to provide an additional 7,480 megawatts (MW) of electricity by 2022. The regional bloc comprises six member states in the African Great Lakes region in eastern Africa, namely: Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda. The funds –…
The Nigeria Integrated Water Resources Management Commission has issued licences to Nestle Water and Winners Power Gardens companies for water supply and hydropower construction respectively. The Executive Director, Reuben Habu, who confirmed this to The Punch, said the issuance of licences to prospective applicants was another landmark, having met the conditions required by law. Habu…
While China may be the world’s largest market for electric vehicle sales, Chinese car buyers have a new love affair: pickup trucks. As in the U.S., pickups are ideal for construction, farm, and maintenance companies — but consumers find them very appealing for the horsepower and cargo capacity. Chinese vehicle maker Great Wall Motor Co….
Damilola Shittu – Abuja The Federal Executive Council (FEC) meeting yesterday approved N1.4 billion for the design of 12-floor building design for the Department of Petroleum Resources (DPR). The Minister of State for Petroleum Resources, Ibe Kachikwu briefed State House correspondents at the end of FEC meeting chaired by President Muhammadu Buhari at the Presidential…
By Haley Zaremba Although nuclear is often touted as an ultra-efficient and therefore affordable as well as clean alternative to fossil fuels, some states are beginning to discover that this is not necessarily the case as their local governments pour more and more money into nuclear plant subsidies only to see the nuclear industry come…
