The Nigeria Extractive Industries Transparency Initiative (NEITI)said that Nigeria lost at least $16 billion in ten years due to non-review of the 1993 Production Sharing Contracts, (PSC), with oil companies. This was one of the highlights of the latest report by NEITI released in Abuja Sunday. It was tagged “The Steep Cost of Inaction”. It […]
Month: March 2019
No going back on UTME biometrics – JAMB
The Joint Admissions and Matriculation Board (JAMB) says it will not rescind its decision on the use of biometrics in the conduct of its Unified Tertiary Matriculation Examination (UTME). This is contained in the board’s weekly bulletin issued on Sunday in Lagos. According to the bulletin, the importance of biometrics in the conduct of the […]
EKEDC warns Lagos residents to Avoid high tension power lines
Eko Electricity Distribution Company has reiterated its warning against the conduct of activities under and within the perimeters of high tension power lines. The General Manager, Corporate Communications, EKEDC, Mr Godwin Idemudia, said in a statement that the company had embarked on several safety enlightenment campaigns highlighting the hazards involved in building, trading, loading vehicles, […]
OPEC oil output drops to four-year low
Crude oil supply by the Organisation of Petroleum Exporting Countries fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Gulf allies over-delivered on the group’s supply pact while Venezuelan output registered a further involuntary decline. The drop of 300,000 barrels per day comes despite criticism from […]
Meter manufacturing firm appeals to CBN for single digit credit line
Mr Kola Balogun, Chairman, Momas Electricity Meter Manufacturing Company Ltd. (MEMMCOL), has appealed to the Central Bank of Nigeria (CBN) to create a credit line of a single digit to meter manufacturers for effective execution of Meter Assets Providers (MAP) schemes. Balogun, who made the appeal in an interview with the News Agency of Nigeria […]
Governor, caregiver narrate experiences with Lassa fever
David Eseigbe is a medical doctor with over 10 years’ experience relating to Lassa fever patients. Mr Eseigbe is one of the dozens of caregivers who have been infected with the disease while treating patients. “One minute I was all kitted up in my protective gear collecting blood samples from Lassa fever patients in the […]
Nigeria’s foreign trade volume increases by 39% – NBS
The National Bureau of Statistics (NBS) said the country recorded a total trade value of N32.26 trillion year-on-year in 2018, representing 39.3 per cent increase over the corresponding period in 2017. The trade value for 2017 stood at N23.16 trillion. The NBS said this in its Foreign Trade in Goods Statistics for Fourth Quarter of […]
Renewable energy to become world’s main power source by 2040 – BP
Renewable energies will be the world’s main source of power within two decades and are establishing a foothold in the global energy system faster than any fuel in history, according to BP. The UK-based oil company said wind, solar and other renewables will account for about 30% of the world’s electricity supplies by 2040, up […]
PENGASSAN to Battle ExxonMobil on staff disengagement
Members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) may have resolved to challenge ExxonMobil over its plan to disengage its workers. The association, in a statement by its President, Comrade Olabode Johnson, said the union was disappointed with fresh disengagement letters served many Nigerian executives in the oil firm, saying […]
More than 50 people missing after leaking oil pipeline explodes in Nigeria
A local official says more than 50 people are missing after a leaking oil pipeline exploded and caused a stampede in southern Nigeria. The Nembe Chiefs Council spokesman, Chief Nengi James-Eriworio, tells The Associated Press that the blast early Friday (local time) caused massive oil spillage in the Nembe kingdom in Bayelsa state. The Nembe […]