CBN to Sanction MFBs, PMBs, DFIs for Late Regulatory Returns The Central Bank of Nigeria (CBN) is cracking down on late submissions of monthly reports from Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), and Development Finance Institutions (DFIs). In letters addressed to each institution type, the CBN expressed disappointment with the “late and non-rendition of…
TWF 2nd Annual Assembly and Conference Question: Congratulations! TWF 2nd Annual Assembly and Conference (hybrid) has successfully drawn experts and officials from different countries to engage in both technical discussions, policy reviews and physical welding activities. From Nigeria to South Africa, Ethiopia to Ghana, Cameroon, Senegal, Liberia, Morocco, Mozambique, Gambia, Tunisia and other non-Africa countries…
NCDMB, NBS Hold Workshop for Oil Service Coys on Baseline Census Determined to gather credible data on the oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB) has partnered with the National Bureau of Statistics (NBS) to hold a two-day sensitisation workshop for companies engaged in well and drilling services and petroleum…
SNEPCo MD, Elohor Aiboni wins Energy Personality Award Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Elohor Aboni has won the 2023 Energy Personality Award at the just-concluded 2024 edition of the Nigeria International Energy Summit in Abuja. Elohor recorded the highest number of online votes in that category from industry participants ahead of…
MEMAN Advocates for Denominating Downstream Supply Chain in Local Currency The Major Energies Marketers Association of Nigeria (MEMAN) has called for the dedolarization of transactions within the petroleum products distribution and supply chain due to the increasing complexities posed by fluctuations in the foreign exchange market. Mr. Clement Isong, the Executive Secretary of MEMAN, conveyed…
President Tinubu Enacts Suspension of Rural Electrification Agency Managing Director and Team Following an extensive investigation into the financial affairs of the Rural Electrification Agency (REA), President Bola Tinubu has sanctioned the indefinite suspension of the Managing Director/CEO of REA, Ahmad Salihijo Ahmad, and three Executive Directors: Olaniyi Alaba Netufo — Executive Director, Corporate Services…
Heirs Energies Fuels Power Generation in Nigeria Key Points: Heirs Energies, a major Nigerian energy company, is supplying natural gas to the new 188-megawatt Geometric Power Plant in Aba. This adds to their existing portfolio, providing gas to TransAfam (966MW) and First Independent Power (541MW) plants, significantly impacting national power generation. Heirs Energies is committed…
Tinubu Enacts Executive Order for Overhaul of Oil and Gas Sector President Bola Tinubu has taken decisive action to reform primary legislation, introducing fiscal incentives to stimulate oil and gas projects, streamline contracting processes, and bolster local content efficiency. This move aims to catalyze investment, reduce costs, and enhance Nigeria’s position as a premier destination…
NCDMB Facilitates Collaborative Workshop on Research and Innovation in Oil Industry The Nigerian Content Development and Monitoring Board (NCDMB) recently orchestrated a comprehensive three-day Research and Development (R&D) Zonal Workshop at the prestigious Niger Delta University (NDU) in Amassoma. This gathering served as a platform for prominent stakeholders within the oil and gas sector and…
Guyana Energy Conference: Oando’s GCE Offers Strategic Roadmap for Oil and Gas Triumph At the 3rd Guyana Energy Conference and Supply Chain Expo, Mr. Adewale Tinubu, Group Chief Executive of Oando PLC, delivered an enlightening keynote address titled “The Winning Oil & Gas Industry Strategy.” He shared profound insights into navigating the intricacies of the…
