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The organisers of African Utility Week and POWERGEN Africa have announced that a free, virtual conference will take place in May. The Free online event will feature world-class speakers, insightful programme, matchmaking, the organised have said.“Although the event was recently postponed to November,” says event director Evan Schiff, “we recognise that the need for information, expert opinion and connection with ...

Heritage Bank Plc has emphases that the safety and wellfare of it’s customers and employees are its top most priority and the most pressing business need at this time because of the ravaging Covid-19 pandemic on human beings and businesses worldwide. In view of this development, the Managing Director (MD/CEO) of Heritage Bank, Ifie Sekibo in his message to customers, ...

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it has suspended the planned strike by its members following the release of its members who were arrested by the Rivers State government for violating the lockdown executive order in the State. According to PENGASSAN, members of the Association were instructed to withdraw all forms of services relating ...

Development and Monitoring Board (NCDMB) says it has reduced the interest rate for beneficiaries of loans under the Nigerian Content Intervention (NCI) Fund from eight to six percent per annum. The board says it has also extended the loans moratorium and tenure effective from April 1. Mr Simbi Wabote, Executive Secretary, NCDMB, said on Saturday in Lagos that the move ...

As a result of the recent lockdown announced by President Muhammadu Buhari on Sunday, April 12, 2020, the management of  Nigerian Ports Authority (NPA) has directed all Terminal operators to extend the suspension of all applicable terminal storage fees on consignments(demurrage)for another fourteen days effective April 13, 2020.  A statement issued by Jatto A Adams, General Manager, Corporate and Strategic ...

China and G-20 countries have agreed to give debt relief to the poorest countries in the world which are classified as IDA countries by the World Bank. This is according to comments made by David Malpass, the World Bank president, on Friday at the ongoing virtual April 2020 virtual Spring meetings of the World Bank and International Monetary Fund. “I ...

An industry expert, in the down stream petroleum sector, Ms Ronke Onadeko, has said that the Petroleum Products Pricing Regulatory Agency (PPPRA), should review the policy on fuel pricing modulation in the country. Onadeko gave the advice at a virtual workshop for journalists on the oil sector reforms in Abuja. The Agency had adopted a monthly pricing modulation style that ...

The Nigerian Content Development and Monitoring Board (NCDMB) is seeking for the participation of Project 100 companies in the execution of Train-7. According to NCDMB the Nigerian Liquified Natural Gas Limited (NLNG) should evaluate the capabilities of the beneficiaries of Project 100 programme. The NCDMB said the purpose of the evaluation was to enable NLNG engage them in the execution ...

The umbrella body of oil markeeters called Major Marketers Association of Nigeria (MOMAN)  is advocating for price liberalization in place of “price modulation” being favoured by the Federal government for Premium Motor Spirit (PMS) commonly known as petrol. Its Chairman,  Mr Tunji Oyebanji made the disclosure in a statement issued on Thursday and made available to newsmen in Lagos, declaring ...

Petroleum Exporting Countries, its allies (OPEC+) and other top oil producers, in addition to the intervention of US President, Donald Trump, the volatility of the crude oil market still continues unabated. Available reports from oilprice.com shows that crude oil prices fell by about 5% at $28 per barrel on Wednesday, April 15, 2020. This could be attributed to persistent oversupply ...