Nigerian Naira and Stocks Plummet as Investor Jitters Mount The Nigerian financial markets experienced a tumultuous day on Monday, with the naira hitting record lows against the dollar and stocks suffering their biggest one-day drop in over a year. Naira Devaluation Deepens: The Nigerian currency plunged to a record low of 1,712 naira per dollar…
Women in Energy to Lead Conversations on Breaking Barriers at NIES 2024 The Nigeria International Energy Summit (NIES) is excited to announce the inclusion of the Women in Energy Roundtable as a central component of its highly anticipated 7th edition, scheduled to take place from February 26th to March 1st, 2024. The session, set for…
IPOB Threatens EEDC Over Persistent Power Outages in the South East The Indigenous People of Biafra (IPOB) has issued a stern warning to the Enugu Electricity Distribution Company (EEDC) over the continuous poor power supply in the South East region. The group’s spokesperson, Emma Powerful, in a statement released to the press on Monday, expressed…
TotalEnergies’ Impactful Contributions to Nigeria’s Learning Landscape As the number of out-of-school chil- dren in Nigeria continues to rise, the federal government has signaled its commitment to reducing this figure through strategic partnerships. To-talEnergies, a key private sector player, has shown a strong willingness to engage in such collaborations and has a longstanding interest in…
JTF Raids 14 Illegal Refining Sites in Rivers, Vows to Crack Down on Oil Theft The Joint Task Force (JTF) Operation Delta Safe (OPDS) has launched a major operation against oil theft in the Niger Delta, uncovering 14 illegal refining sites on Ataba Island near Bonny Island in Rivers State. Led by newly appointed JTF…
NNPC Sports Fiesta Kicks Off, Ex-Super Eagles Stars to Face Company Team The 13th NNPC Ltd. Sports Fiesta kicks off tomorrow at the Moshood Abiola National Stadium, with employees competing in 13 sports for bragging rights and a chance to represent the company in the upcoming Nigeria Oil & Gas Industry Games (NOGIG). Key Points:…
NCDMB Shares Local Content Expertise with Mozambique The Nigerian Content Development and Monitoring Board (NCDMB) hosted a two-day knowledge-sharing session with a delegation from Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH), on developing and implementing effective local content policies. Key Takeaways: NCDMB’s leadership: The session highlighted NCDMB’s commitment to supporting African nations in maximizing…
Nigeria’s Central Bank Sets Limit on Oil Firms’ FX Transfers from Crude Oil Proceeds In a bid to bolster dollar supply in the local currency market, Nigeria’s central bank has introduced a new measure that limits foreign currency transfers from crude export proceeds by international oil companies to their parent firms. According to a circular…
Nigeria’s Hydrocarbon Riches and Potential for Sustainable Energy: Insights from Engr. Gbenga Komolafe at SAIPEC 2024 At the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), themed “The Next Steps: Accelerating African Content,” Engr. Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), lauded the Petroleum Technology Association of Nigeria…
Nigerian Industrial Giant, Dorman Long, Marks 75 Years of Building the Nation Nigeria’s leading steel engineering and fabrication company, Dorman Long Engineering, celebrated its 75th anniversary in grand style last week with a cocktail reception in Lagos. The event marked a significant milestone for the company, showcasing its rich history, unwavering commitment to progress, and…