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The African Petroleum Producers Organization (APPO), and the African Export-Import Bank (Afreximbank), have signed the requisite documents for the establishment of a $5bn Africa Energy Bank as Nigeria is ready to host the head office of the bank being Africa’s major player in the oil and gas industry. The request to host the head office of the bank was made ...

The Central Bank of Nigeria (CBN) has clarified that there were no plans to revoke the licenses of three additional bank after it had done so to Heritage bank. A press statement by the bank’s Acting Director of Corporate Communications, Haka Sidi-Ali, said, “The attention of the Central Bank of Nigeria (CBN) has been drawn to some information circulating in ...

……….by Ben Ndubuwa………. Shell companies in Nigeria together with their partners have increased their spending on host communities by 23 percent about $42.2 million. A break down showed that three Shell companies in Nigeria and their partners in 2023 made the expenditure which represents a 23 per cent increase compared to $34.29 million in the previous year. Shell exclusively spent ...

…….by Victor Egbo……. Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their industrial action for a week as part of efforts to test the sincerity of the federal government over the demand by labour for wage increase Labour had started the strike due to the disagreements over a new minimum wage and an increase in electricity ...

TheHydeCup,#MechanicsChampionsLeague #MyMechanicMyHero, organised by Hyde Energy, has finally ended with Agege Radiators winning the trophy of the first edition taking home N2 million worth of Hyde Energy products. The Ojota Injectors team is the first runner up and the Kosofe Camshafts has won the Second runner-up in the league and were awarded with N1.3 million and N700,000 worth of products, ...

………..by Victor Egbo…… Aba Power Limited, has estimated that in the next six months it is going to install metres for 200,000 registered customers in the Aba Ring-fenced Area at a cost of N32 billion. The Company also disclosed deployment of over 22,000 smart prepaid meters since last November when it initiated its Mass Metering campaign. “Much as our stakeholders ...

Nedogas Development Company Limited (NDCL), a Joint Venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company, has in collaboration with the NNPC Gas Infrastructure Company (NGIC), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, successfully completed the construction and technical commissioning of a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection facility located in the ...

Striking aviation workers have disallowed all flight take off and landing at most airports particularly the Lagos and Abuja airports. The workers shut down all entry points of aviation agencies at the Murtala Muhammed International Airport, Ikeja, Lagos and the Nnamdi Azikiwe International Airport in Abuja to press home their demands for the implementation of a new National Minimum Wage. ...

……..Commission is Ever Committed to excellent oversight of Nigeria’s oil, gas sector…….. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Commission’s Chief Executive, Engr. Gbenga Komolafe has won the Champion Newspapers’ Most Outstanding Regulator of the Year Award. Komolafe was conferred with the honour during the newspaper’s annual awards ceremony held at the Eko Hotels & Suites in Victoria Island, Lagos, ...

The Organised Labour Unions in Nigeria have shut down the national grid, sending key national facilities into darkness and the country’s economy going blank. With the national grid down there is strong indications that facilities like the Aso Rock, National Assembly, airports, hospitals, universities, will be in darkness for now. Though frantic efforts are being made to restore electric power ...