The Central Bank of Nigeria (CBN) on Friday devalued the naira by N6 to dollar. The naira devaluation has brought the local currency closer to the exchange rate unification agenda of the apex bank as recommended by the International Monetary Fund (IMF) and World Bank. In a weekly exchange rate for disbursement of proceeds of International Money Transfer Service Operators ...

…..Upskills Teachers in Edo, Delta States with STEP initiative Seplat Petroleum Development Company Plc (SEPLAT), leading indigenous energy Company, continues to make notable strides with its drive to improve the standard of education in the Country, particularly for its host States. The Company has just introduced yet another laudable educational programme targeted at Secondary School Teachers. The educational programme tagged ...

The Nigerian Electricity Regulatory Commission (NERC) yesterday stated that the federal government introduced the capping order on estimated billing for unmetered customers to ensure fairness and parity with their metered counterparts. Commissioner in charge of Legal, Licensing and Compliance, Mr Dafe Akpeneye, said at a web conference organised by PricewaterhouseCoopers (PwC) that since the Discos failed in their responsibility to ...

The MD/CEO of Niger Delta Power Holding Company (NDPHC) Ltd Mr. Chiedu Ugbo and his team at Awka Anambra state, after the successful completion and energization of its NIPP 2x60MVA , 132/33kV Awka Substation yesterday. Ugbo, who led NDPHC and other stakeholders teams for the inspection indicated that the completion and energization of this Awka substation will enhance the quality ...

…….by Musa Ibrahim……… The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Mr Mele Kyari, has said that the passage of the Petroleum Industry Bill (PIB) will engender new investments in the oil and gas industry and cautioned that there is need to forstall loss of investment if the bill is not passed into law. The NNPC boss ...

The Federal Government has handed over the Afam Power Plant to Transcorp Power Consortium after it emerged the preferred bidder of the power asset, with a bid offer of N105 billion. The Director-General, Bureau of Public Enterprises, Alex Okoh on Thursday handed over the power plant to the preferred bidder on behalf of the Federal Government in Abuja. Speaking at ...

Shell has confirmed that it has shut down the breached gas pipeline in a community in Bayelsa state of Nigeria’s Niger Delta region. Eni has also declared force majeure on exports of Nigerian Brass River crude oil following the same pipeline explosions, according to Reuters. Shell said the breached pipeline carries gas to the SPDC-operated Gbaran gas plant. “We immediately ...

………by Musa Ibrahim………… The National Assemble has applauded the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) Mallam Mele Kyari for the courage borne out of transparency to present the Corporation budget for the first time after four decade. Kyari, told the Joint Committee on Petroleum Upstream, Petroleum Downstream, and Gas, Thursday, at a 2021 budget defence that ...

………by Abisoye Shola…….. The Minister of State for Petroleum Resources, Chief Timipre Sylva and the Lagos State Governor, Mr. Babajide Sanwo-olu, have said the newly-inaugurated 8,400 metric tonnes Liquefied Petroleum Gas (LPG) terminal built by Techno Oil Limited in Lagos State will significantly contribute to deepening the domestic utilization of LPG in the country. The multi-billion naira facility sited in ...

The Nigerian National Petroleum Corporation ( NNPC) has secured about S3.15 billion as alternative funding facility for its subsidiary, the National Petroleum Development Company (NPDC) with Sterling Exploration and Energy Production Company limited as well as other partners of the corporation for the development of the NPDC’s OML13. According to the Group Managing Director of NNPC, Mallam Mele Kyari, who ...