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The Nigerian Labour Congress on Thursday insisted that petrol subsidy must not be removed and that it would not shift grounds on this position until Nigeria’s refineries were fixed. NLC’s position came as a support to the earlier declaration of the Nigeria Union of Petroleum and Natural Gas workers where NUPENG kicked against the advice of the Presidential Economic Advisory ...

The national electricity grid suffered a system collapse on Wednesday, leading to power outage across the country. Ndidi Mbah, spokesperson of the Transmission Company of Nigeria (TCN), said there is ongoing effort to fully restore electricity on the grid. “The Transmission Company of Nigeria hereby states that at about 11.01 am today, 12th of May, 2021, there was a total ...

The Ibadan Electricity Distribution Company (IBEDC) has congratulated Muslims and Nigerians generally on the celebration of the 2021 Eid-el-fitr.This is contained in a goodwill message from IBEDC’s Chief Operating Officer (COO), Mr John Ayodele made available to newsman in Ibadan on Tuesday.Ayodele urged Muslim faithful to imbibe the virtues and morals of the Ramadan season of selflessness and piety.“IBEDC is ...

Eko Electricity Distribution Company, EKEDC, felicitates with its customers on this year’s Eid-El-Fitr celebration. The Company, in a goodwill message signed by its General Manager, Corporate Communications, Godwin Idemudia congratulated Muslims for the successful completion of the Holy Month of Ramadan, which marks the end of the fasting period. Idemudia said while the fasting may have ended, it is important ...

Shipowners Association of Nigeria (SOAN) has said that $100 million is lost to capital flight as the Nigerian National Petroleum Corporation (NNPC) recently contracted coastal and bunkering vessel services to a foreign shipping company, Messrs UNIBROS. In a petition to the National Assembly and the Group Managing Director of NNPC, Mele Kyari, the group said UNIBROS operates under the guise ...

Ruling comes ahead of trial in which JPMorgan is accused of enabling $875m in misappropriated payments.JPMorgan has argued that it received sufficient approvals from Nigerian authorities before allowing the transfer of funds from a government account. Nigeria has succeeded in an effort to force JPMorgan Chase to disclose more documents ahead of a trial in which the US bank stands ...

The Nigerian Content Development and Monitoring Board (NCDMB) is set to host the 2021 edition of its Nigerian Oil and Gas Opportunity Fair (NOGOF) from the 25 to 26 of May 2021. The event, themed “Leveraging Opportunities and Synergies for Post Pandemic Recovery of the Nigerian Oil and Gas Industry” is programmed to take place virtually, a move that is ...

The National Publicity Secretary of the PDP, Kola Ologbondiyan, has accused the APC-led regime of enabling unbridled corruption in virtually all sectors of the Nigerian economy. “From the missing US $1billion meant for equipping our military, to the contract scam in the NDDC, it is now an established fact that corruption has become the official policy of this regime. “The ...

The Department of Petroleum Resources (DPR) has pledged support to the hitch-free completion of Nigeria’s first floating Liquefied Natural Gas (LNG) production plant. Mr Sarki Auwalu, Director, DPR gave the assurance at the online contract signing of an agreement by an indigenous oil and gas company, UTM Offshore Limited and its partners on the project on Tuesday. It is said ...

It is going to be highly suicidal to remove petrol subsidy now and the advice by the Presidential Economic Advisory Committee on subsidy removal is wrong, the Nigeria Union of Petroleum and Natural Gas workers has said. The Committee had advised the President, Muhammadu Buhari, to remove subsidy on petrol and adopt a pricing regime that reflects the cost of ...