Oil Prices Decline Amidst U.S. Crude Buildup and Concerns Over China’s Demand Oil prices experienced a slight decline on Thursday, continuing the losses observed in the previous session. This dip was attributed to indications of increased supply from the United States coupled with concerns about subdued energy demand in China. As of 1101 GMT, Brent…
3% PIA Funds: Host Communities Warn of Potential Disruption to Oil Production Host communities in Bayelsa State have issued a stern warning, threatening to disrupt oil production across the state unless the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) refrains from actions that might hinder the distribution of the three per cent host community fund as…
South Korea Commits Support for the Advancement of Nuclear Power in Ethiopia The Republic of Korea (RoK) has committed to supporting Ethiopia in the development of civilian nuclear power. This pledge was made by the Ambassador of the Republic of Korea to Ethiopia, Kang Seokhee, during a seminar held at the Korean Embassy. The seminar…
EU Legislation Pressures Foreign Oil and Gas Producers to Reduce Methane Emissions The European Union (EU) has recently implemented a methane import standard, establishing emissions limits on oil and gas imports to Europe from 2030. This legislation puts pressure on international suppliers to take measures to reduce leaks of methane, a potent greenhouse gas. Methane…
Central Bank of Nigeria Affirms Continued Validity of Old Bank Notes as Legal Tender In a recent announcement, Nigeria’s central bank declared that old banknotes, originally scheduled for removal from circulation next month, will now continue to be considered legal tender. This decision brings an end to months of uncertainty, especially after a previous attempt…
Lagos Collaborates with Denmark and Allies to Address Environmental Challenges On Tuesday, Lagos State Governor, Mr. Babajide Sanwo-Olu, emphasized the significance of collaborative efforts, shared expertise, and the exchange of ideas between Nigeria and Nordic countries to effectively harness the power of innovation in addressing imminent environmental challenges. Represented by his deputy, Dr. Obafemi Hamzat,…
Lagos and the Necessity for Multi-Modal Transportation Solutions The significant road construction efforts undertaken by Governor Babajide Sanwo-Olu’s administration in Lagos State are aptly underscored by the words of two prominent British politicians. Sir Alok Sharma, a member of the British Conservative Party who has held various positions in the UK government, highlighted the crucial…
Nigeria Firmly Committed to 2060 Energy Transition Plan- Representative Nkwonta Chairman of the House of Representatives Committee on Climate Change, Hon. Chris Nkwonta, has affirmed his dedication to facilitating Nigeria’s attainment of the target to achieve net-zero greenhouse gas emissions by 2060, as outlined in the nation’s energy transition plan. During the committee’s inauguration on…
TCN Refutes Nationwide Blackout Reports, Affirms Active Operation of National Control Centre The Transmission Company of Nigeria (TCN) has denied reports suggesting a nationwide blackout due to the strike declared by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC). The Head of Public Affairs of TCN refuted the claims that there would be…
Maritime Workers Union Issues Directive for Port Shutdown The Maritime Workers Union of Nigeria (MWUN) has issued a directive for workers to close all port formations across the country starting from Tuesday. This decision aligns with the nationwide strike initiated by the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC). The…
