Sifax Group Unveils Plans for $20 Million Truck Park at Lekki Port In a bid to streamline truck movement within and around the Lekki Port corridor, the Sifax Group has revealed its intentions to construct a state-of-the-art $20 million Truck Park. This initiative aims to alleviate congestion and enhance efficiency in port operations. The group…
Navy Discovers Illegal Refinery with 9.6 Million Litres Capacity in Rivers State The Nigerian Navy Ship, NNS Pathfinder, has uncovered and dismantled 16 illegal refineries capable of refining 9.6 million litres of crude oil in the Elem-krakama community of Degema Local Government Area, Rivers State. During the operation, 14 suspects, including a woman, were apprehended…
Transcorp Power Announces N3.13 Dividend, Sees 75% Surge in Profit Transcorp Power Plc, a key subsidiary of Nigeria’s prominent conglomerate, Transnational Corporation Plc, has unveiled its audited financial statements for the fiscal year ending December 31, 2023. The company recorded robust gross earnings of N142.1 billion over the 12-month period, marking a substantial increase of…
Nigerian Navy Discovers Massive Diesel Bunker with 400,000-Litre Capacity in Lekki Residence In a recent operation, the Nigerian Navy Ship (NNS) BEECROFT revealed the presence of an illicit Automated Gas Oil (AGO) bunker, boasting a capacity of 400,000 liters, situated within a private compound in the Lekki region of Lagos. The uncovering of this bunker…
NERC Adapts Subsidy Framework and Service Enhancement in NESI In accordance with the Electricity Act of 2023, the Nigerian Electricity Regulatory Commission (NERC) holds the responsibility of enabling licensees within the Nigerian Electricity Supply Industry (NESI) to set rates that recover operational costs efficiently while ensuring a reasonable return on invested capital. This task necessitates…
PENGASSAN Threatens Nationwide Strike Over BelemaOil’s Unpaid Salaries and CBA Dispute In a brewing standoff, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has issued a stern warning of a potential nationwide strike over grievances involving unpaid salaries and the absence of a Collective Bargain Agreement (CBA) with indigenous oil firm, BelemaOil…
Electricity Customer Numbers Reach 12 Million in Q4 2023 – NBS Reports According to the National Bureau of Statistics (NBS), Nigeria recorded a total of 12.12 million electricity customers in the fourth quarter of 2023, marking a 3.46 percent increase from the 11.71 million customers in the third quarter of the same year. Comparing year-on-year…
All On’s Caroline Eboumbou Honored with “Outstanding Woman in Renewable Energy” Award Caroline Eboumbou, the Chief Executive Officer of All On, has been recognized with the prestigious “Outstanding Woman in Renewable Energy” award at the recently concluded 2024 Women in Maritime & Energy Award ceremony held in Lagos. The 2024 WIME award, themed #InspireInclusion…
Nigeria Customs Achieves Remarkable Revenue Growth, Hits N1.3 Trillion in Q1 The Nigeria Customs Service (NCS) has announced a significant milestone in revenue generation, reporting a remarkable 122.35% growth compared to the same period last year, with a total revenue of over N1.3 trillion in the first quarter of 2024. During a media briefing held…
ERA/FoEN Urges Legislative Action to Hold Divesting IOCs Accountable In a recent development, the Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has called upon the National Assembly to take decisive legislative action. This action aims to ensure that International Oil Companies (IOCs) are held accountable for environmental damages in the Niger Delta region. ERA/FoEN…