Nigerian Petrol Smuggling Floods West African Markets at N1,700 per Liter. The Nigerian Federal Government has raised alarms about the resurgence of Premium Motor Spirit (PMS) smuggling due to significant price disparities between Nigeria and neighboring countries. While the average price of petrol in Nigeria stands at about N701 per liter, it is sold at…
NNPC Ltd. Advances Floating LNG Project with Golar LNG. NNPC Limited has taken a significant step towards monetizing Nigeria’s extensive natural gas resources by signing a Project Development Agreement (PDA) with Golar LNG for a Floating Liquefied Natural Gas (FLNG) facility off the coast of the Niger Delta. The signing ceremony, which took place on…
Lekki Port Plants 200 Coconut Trees in Celebration of World Environment Day. In observance of World Environment Day 2024, Lekki Deep Sea Port has planted 200 coconut trees in the Itoke community, aiming to restore the local ecosystem and combat climate change in the area. During the event, Laurence Smith, Chief Operating Officer of Lekki…
Cooking gas export ban crashed domestic price, says Marketers. The Federal Government’s ban on the export of Liquefied Petroleum Gas, popularly called cooking gas, has led to a crash in the cost of the commodity from about N1,500 per kilogram to around N900/kg, LPG dealers stated on Wednesday. Cooking gas dealers under the aegis of…
IMF predicts Nigeria’s economy will hit $1.85tn by 2029 The International Monetary Fund (IMF) has projected that Nigeria’s economy will experience significant growth over the next few years, reaching $1.85 trillion by 2029 in Purchasing Power Parity (PPP) terms. This forecast demonstrates a positive trajectory for the country’s economic development. PPP terms allow for more…
EKEDC Reaffirms Commitment to Enhanced Metering Services The Eko Electricity Distribution Company (EKEDC) has reiterated its dedication to significantly improve metering services for its customers, following the deregulation of electricity meter prices under the Meter Asset Provider (MAP) scheme. This announcement was made during the Customers Engagement Forum with Mushin business unit customers in Lagos….
MEMAN, Stakeholders Emphasize Operational Safety in Retail CNG Sector. The Major Energies Marketers Association of Nigeria (MEMAN) and various stakeholders have stressed the importance of enhancing operational safety in Nigeria’s retail Compressed Natural Gas (CNG) sector. This was highlighted during a workshop titled “Enhancing Operational Safety in Nigeria’s Retail Compressed Natural Gas Sector,” held at…
ICPC Initiates Legal Action Against Rural Electrification Agency Officials for Alleged Fraud. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has commenced legal proceedings against several officials of the Rural Electrification Agency (REA) for their alleged involvement in fraudulent activities totaling over N1.2 billion. Among these officials is Usman Ahmed Kwakwa, who was…
Uganda and South Korea Collaborate on Nuclear Power Plant in Buyende. In a significant move towards energy diversification and sustainable development, Uganda and South Korea have announced plans to construct a nuclear power plant in Buyende District, eastern Uganda. This initiative was unveiled by Vice President Jessica Alupo, emphasizing the project’s primary objective of enhancing…
Mine Pit Collapse in Niger State Kills One, Traps 30. A mining pit collapse in Galkogo village, Niger State, has resulted in the death of one person and left 30 others trapped, according to the Niger State Emergency Management Agency (NSEMA). The collapse occurred at an underground gold mine on Monday, following heavy rains that…
