Fuel scarcity threatens GDP, employment rates, says NBS chief

NNPC, again, denies FG planning increase in fuel price this month

The fuel crisis being currently experienced by consumers across the country is likely to create an artificial shock that would have an adverse impact on not only Nigeria’s  inflation rate,  but also other macroeconomic variables, such as the gross domestic product (GDP) and the unemployment rates, says Simon Harry, Nigeria’s statistician general.   Harry, who […]

Deploy digital technologies to protect oil, gas infrastructure, says PETAN

Deploy digital technologies to protect oil, gas infrastructure, says PETAN

The Petroleum Technology Association of Nigeria (PETAN), a leading organisation that represents oilfield services and technology companies operating across upstream through to downstream projects, in response to recent incidents of oil spills and FPSO explosions on critical infrastructures in Nigeria, has proffered strategies to safeguard critical infrastructures and boost the Nigerian content in the oil […]

PETAN, NCDMB jointly promote African content at SAIPEC 2022

With the growing demand for local content development in the Nigerian oil and gas industry, the Petroleum Technology Association of Nigeria (PETAN)  has created a new investment focus to develop strategies on strengthening the Nigerian and African  content to other sectors of the economy.   The Nigerian Content Development and Monitoring Board (NCDMB) has also […]

N1trn subsidies in 2 years fail to stop energy sector liquidity drought 

N1trn subsidies in 2 years fail to stop energy sector liquidity drought 

  FBNQuest advocate multiple power generation sources – on-grid/off-grid renewable   Nigeria’s energy sector is still faced with a huge liquidity drought despite N1 trillion in subsidies granted by the federal government between 2019 and 2021.   This worrying situation has been a source of major concern for stakeholders in the country, whereas the abysmally […]

Hydrogen could alter global trade, energy relations by 2050 

Hydrogen could alter global trade, energy relations by 2050 

  To cover 12% of global energy use Market size valued at $174 bn Hydrogen riding on renewable energy revolution Transition not fuel replacement; a shift to new system   Global trade and energy relations among countries and regions appear to be heading for a serious upending if the findings in a research report by […]

Nigeria to get 500 mini grids as Husk signs UN energy compact 

Nigeria to get 500 mini grids as Husk signs UN energy compact 

Renewable energy company, Husk Power System, has signed a voluntary commitment with the United Nations to expand its energy market in sub-Saharan Africa and South Asia and help improve access to electricity and affordable carbon-free energy services. The deal, according to the Colorado-based clean energy service provider,  would see the solar company launch 500 solar […]

Nigerian govt eats its words on fuel subsidy removal, blames speculation

Nigerian govt eats its words on fuel subsidy removal, blames speculation

The Nigerian federal government appears to have eaten its widely circulated position on the elaborate plan it was flying to  remove petroleum subsidy from February. Ahmed Lawan, president of the Nigerian senate, the legislative arm of the government appears to suggest that when he assured Nigerians that the plan will not go on for now […]

Nigeria to benefit as oil seen rallying to $100

Nigeria to benefit as oil seen rallying to $100

Nigeria could be in line for a windfall from a rally in oil prices this year if all the projections by analysts come to pass. It will be good for an economy that has been seriously squeezed by shortfalls in revenues since 2015 and hit by a double whammy recession, which it just barely managed […]