Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) to make up for their recent oversupply, an internal OPEC+ report seen by Reuters shows. The surplus seen between May and July ought to be compensated for in August and September, the […]
The Nigerian power industry achieved another improved all-time national peak of 5,420.30 megawatts, the Transmission Company of Nigeria announced on Thursday. It was also gathered that the 5,420.3MW was effectively transmitted through the national grid at a frequency of 50.10Hz at 9:15pm on August 18, 2020. “This is the highest ever recorded in the nation’s […]
OPEC oil producers and allies such as Russia, a grouping dubbed OPEC+, will on Wednesday meet to review compliance with oil cuts meant to support oil prices amid the coronavirus pandemic. OPEC+ is unlikely to change its output policy, which currently calls for reducing output by 7.7 million barrels per day (bpd) versus a record […]
Some Nigerians stranded in Canada are expected to arrive in their home country on Thursday. This was contained in a memo by the Nigerian High Commission in Canada obtained by The PUNCH on Tuesday. The memo with reference no NHC/OTT/ADM.56/1 was titled ‘2nd evacuation flight from Canada to Nigeria’. The high commission noted that the […]
Nigerian importers have condemned “huge surcharges” by international shipping firms for incoming cargo, local media reported Wednesday. One such firm has imposed a payment of roughly $1,025 on shipping containers of 20 feet and 40 feet from the US, China, Hong Kong, Taiwan and Macau, according to the Lagos-based news website Ripples. The surcharge has […]
Senator Ayo Arise has said the National Assembly will ensure Nigeria gets favourable terms when negotiating for loans, stressing that the lawmakers have a responsibility to make sure the country does not enter into the “Chinese debt trap.” Arise said this on Wednesday during his appearance on Channels Television’s Sunrise Daily. Arise while admitting that […]
The Nigerian High Commission in Ottawa, Canada, has shutdown activities indefinitely. A statement posted on the High Commission’s website said the development followed the abuse of a system it put in place to attend to a limited number of persons due to COVID-19 protocols. “The High Commission of the Federal Republic of Nigeria in Canada […]
..Meets NJIC on Collective Bargaining Agreement The Nigerian Maritime Administration and Safety Agency (NIMASA) has assured stakeholders of its commitment to the protection of the rights and welfare of dockworkers as guaranteed in the International Labour Organisation (ILO) Decent Work Agenda. The Agency’s Executive Director, Maritime Labour and Cabotage Services, Mr. Victor Ochei, gave the […]
Twenty-seven people died after the engines on their migrant vessel failed, leaving them stranded off the coast of Mauritania, the United Nations said on Friday. The UN’s refugee agency and the International Organization for Migration (IOM) said in a joint statement that they were “deeply saddened at the tragic death of 27 people”. A boat […]
Nigerian music star, Wizkid, has ‘smiled’ his way into the ears of Barack Obama, making the former U.S. president’s 2020 summer playlist. Wizkid, whose real name is Ayodeji Balogun, is at No. 15 with his new single “Smile”, featuring American Grammy winner, H.E.R. Obama shared the selection with his followers on Twitter on Monday evening, […]
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