Miners’ union to work with FG, agencies to tap solid minerals for GDP growth

Ben EguzozieJune 25, 2020

…inaugurates Rivers chapter Minerals sector workers under the Miners Association of Nigeria (MAN), Rivers state chapter say they are poised to collaborate with the Federal Government and relevant agencies to harness the solid minerals sector, considering the vast potentials of the sector to contribute to the nation’s gross domestic product (GDP). This is especially at […]

Households, firms to pay more for electricity from July – FG

June 16, 2020

Power distributors sue FG over business interference

Effective from July this year, electricity consumers in the country will start paying more for the service.  Sale Mamman, power minister, told the senate on Tuesday the Federal Government told the Senate Tuesday that the infrastructural deficit in the power sector could only be fixed when the electricity companies have enough money to invest in […]

Marginal oilfields: DPR  grants two weeks extension 

June 12, 2020

In order to accommodate more prospective bidders for its marginal oilfields, the federal government has extended bids for the oilfields by two weeks.   The federal government, through the Department of Petroleum Resources (DPR), disclosed this on Thursday. The bids will now officially close on June 21. The DPR launched the first marginal field award round […]

Seplat CEO projects $17bn oil revenue shortfall for Nigeria in 2020

Samson EchenimJune 12, 2020

Nigeria’s oil receipts in 2020 are expected to drop by as much as $17 billion, Austin Avuru, the chief executive officer of Seplat Petroleum Development Company, has projected. His projection comes amid the current struggle for survival by companies operating in the upstream sector of the Nigerian oil and gas industry. Speaking on Nigeria’s oil and gas […]

6.46 million on estimated billing face meter price hike

June 10, 2020

6.46 million on estimated billing face meter price hike

A total of 6,456,275 electricity users in Nigeria have not been metered and will have to pay a newly approved increased fee when purchasing meters. Latest figures on the number of metered electricity customers obtained from the Nigerian Electricity Regulatory Commission showed that only 37.77 per cent registered electricity customers had been metered. The 37.77 […]

FG bars debtors from bidding for oil fields

June 5, 2020

Companies, including their promoters, indebted to the federal government will not be allowed to participate in the newly launched bid round for marginal oilfields, the Department of Petroleum Resources has said. The DPR, in a documen, said applicants should demonstrate the ability to fully meet the objective of undertaking expeditious and efficient development of a […]

World Bank, AfDB, inaugurate $550m solar off-grid power plants to serve 30,000 MSMEs, 300,000 households in Bayelsa

Ben EguzozieJune 4, 2020

…targets universities, teaching hospitals in Nigeria Global money lender, the World Bank and African Development Bank (AfDB), in collaboration with the Rural Electrification Agency (REA) under the Nigeria Electrification Project (NEP), have commissioned multiple solar off-grid power plants, with a total capacity of 134.64 kilowatts (kW) in communities in Bayelsa State. The project, which comes […]

Oilfield bid round: FG may generate N3.17bn from fees

June 4, 2020

Oil prices fall as rising U.S. inventories reassert supply concerns

The federal government may generate at least N3.17bn from the payment of fees for the marginal fields put on offer for bidding, data obtained from the Department of Petroleum Resources have shown. Indigenous oil firms and other investors willing to bid for any of the 57 marginal fields are expected to pay fees amounting to […]