Fuel scarcity threatens GDP, employment rates, says NBS chief
Onome Amuge
February 16, 2022
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 […]
Nigerian oil industry operators should invest in technology – Huawei chief
Onome AmugeFebruary 16, 2022
The future of the oil and gas industry is shaping up to be bright as energy companies around the world begin to recover in the aftermath of the Covid-19 pandemic. And in order to make the most of this opportunity, Nigerian operators need to rise to the surge in demand by setting up a number […]
Deploy digital technologies to protect oil, gas infrastructure, says PETAN
Onome AmugeFebruary 15, 2022
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
Onome AmugeFebruary 15, 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
Charles AbuedeFebruary 10, 2022
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
phillip isakpaFebruary 1, 2022
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
Onome AmugeFebruary 1, 2022
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 […]
AfDB’s Adesina sees Africa’s integration, industrialisation in Dangote Refinery
Maduabuchi EfegadiJanuary 26, 2022
By Maduabuchi Efegadi Refinery takes off Q3 2022 with 540,000bpd Akinwumi Adesina, president of the African Development Bank, upon a visit to the gigantic Dangote Refinery and Petrochemicals complex being built in Lagos, Nigeria, has taken a long view to reach the verdict that beyond the products expected from it, the project holds […]
Nigerian govt eats its words on fuel subsidy removal, blames speculation
Charles AbuedeJanuary 20, 2022
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
Phillip IsakpaJanuary 19, 2022
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 […]