Business news
Fidelia Okafor. Nigerian Electricity Supply Industry (NESI, operational report for Jan. 3, said the power sector hit a peak generation of 4,959 megawatts as against 3,321 megawatts recorded on Dec. 2. On Wednesday, Transmission Company of Nigeria (TCN) wheeled out about 3,959 megawatts of electricity to the 11 distribution companies as the country’s power supply […]
Fidelia Okafor. The Nigerian National Petroleum Corporation (NNPC) has released names of 39 bidders for the sale and purchase of Nigerian crude for 2017/2018. Announcing the results on its Website, the Group General Manager, Crude Oil Marketing Division NNPC, Mr Mele Kyari, said the contract would run for one year effective from Jan. 1 for […]
Fidelia Okafor. The Federal Government has decided that 25% of the nation’s electricity would be generated by the Ughelli Generating Company by the end of the year. Chairman of the plant, Mr. Tony Elemelu said the nation had the fixing of its electricity supply as its most critical agenda and that the Ughelli power plant […]
Fidelia Okafor. The Nigerian National Petroleum Corporation (NNPC) has announced that the country’s oil reserve was now 37 billion barrels. Also, the corporation vowed to find a lasting solution to the threat posed by the Niger Delta militants. The Group Public Affairs General Manager of the NNPC Group, Mr. Ndu Ughamadu in a statement issued […]
Fidelia Okafor. For failing to submit their audited financial reports for the years 2013 and 2014, Afam Power Plant Plc and Eko Electricity Distribution Company (EKEDC) have been fined N66.6 million by the country’s electricity regulator, the Nigerian Electricity Regulatory Commission (NERC). A statement from the NERC yesterday in Abuja stated that Directives 162 and […]
Fidelia Okafor. The Nigerian National Petroleum Corporation (NNPC) on Tuesday said it would embark on a comprehensive rehabilitation of the nation’s refineries to achieve optimal capacity utilisation in 2017. NNPC Chief Operating Officer, Refineries, Mr Anibor Kragha, said this in Abuja in a statement by Mr Ndu Ughamadu, the Group General Manager, Group Public Affairs […]
Nigeria has discovered huge crude oil concentration in Borno State, North East, raising the hope of the region joining the league of oil producers. Lagos state recently joined the league of crude oil producers. Some states in the league are Bayelsa, Rivers, Delta, Akwa Ibom. The Permanent Secretary, Ministry of Petroleum Resources, Dr. Jamila Shua’ra, […]
Fidelia Okafor. Nigeria has discovered huge crude oil concentration in Borno State, North East, raising the hope of the region joining the league of oil producers. Lagos state recently joined the league of crude oil producers. Some states in the league are Bayelsa, Rivers, Delta, Akwa Ibom. The Permanent Secretary, Ministry of Petroleum Resources, Dr. Jamila […]
Amaka Obiefuna. President Muhammadu Buhari has explained that global drop in oil prices has affected implementation of 2016 budget. In his speech to the joint session of the federal legislators which just ended, he explained that the current administration was confronting challenges it did not create, while noting that they remain focused on the development […]
Fidelia Okafor The standard and quality of products in circulation either locally made or imported determines the Nigeria’s economic and industrial growth. It is also critical to ensure that imported products meet high quality benchmarks which would in turn stop the dumping of sub-standard imports in Nigeria. These were the submissions of the Director General, […]