Mordi chukwunonso Esther The Nigerian National Petroleum Corporation (NNPC) is renegotiating commercial contract terms with major oil firms, in a move to keep investment flowing into a sector important for the country’s economy. This was disclosed by Mele Kyari, Group Managing Director, NNPC, on Friday, in an interview with Reuters. Kyari said the new commercial…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said the national oil company is renegotiating commercial contract terms with major International Oil Companies (IOCs) operating in the country. This is in a move that it hopes will keep investment flowing into a sector crucial for the country’s economy at…
By Ikenna Omeje The World Bank has approved $500 million to support the Federal Government in improving Nigeria’s electricity distribution sector. The project, the Bank said, would help boost electricity access by improving the performance of the Electricity Distribution Companies (DISCOs) through a large-scale metering program desired by Nigerians for a long time. In addition,…
The Federal Government is expecting to generate at least $500m in revenue (N189.5bn) from the ongoing marginal field bid round, the Department of Petroleum Resources has said. The Director/Chief Executive Officer, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, disclosed this in an interview on Arise TV’s The Morning Show on Friday.. He said that…
Daniel Terungwa The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has promised the Turkish Ambassador to Nigeria, Ambassador Melih Ulueren of safe rescue of kidnapped seafarers. Ulueren recently hosted Jamoh in Abuja to discuss issues relating to the Kidnapping of 15 Turkish Seafarers onboard a Liberian Flagged Vessel outside…
Daniel Terungwa President George Manneh Weah is expected this February to formally light up the streets of Monrovia and its environs, according to the Executive Mansion. A press release issued says President Weah is expected to turn on the switch at Vai Town, Bushrod Island to light up the Johnson Street to Freeport corridor. Simultaneously,…
Daniel Terungwa The federal government has begun the establishment of artisanal mineral processing clusters for the development of selected minerals in the six geopolitical zones. The initiative is to ensure effective harmonisation of minerals’ exploitation as well as to derive the right revenue for government. The Minister of State, Mines and Steel Development, Dr. Uchechukwu…
Daniel Terungwa The House of Representatives has said that it would deploy “all means” within its power to ensure that the N5 billion waiver granted to China Harbour Engineering Company is refunded to the Federal Government. Chairman of the House Public Account Committee, Wole Oke, stated this during the investigative hearing into the audit query…
Daniel Terungwa Segilola Gold Mine, Nigeria’s first and largest industrial-scale gold mine owned by the Canadian mineral exploration company, Thor Explorations Limited, is set to be completed in the first half of 2021. The gold mine which would place Nigeria on the list of major gold producing nations, is expected to create about 400 direct…
Daniel Terungwa Plans to establish a Petroleum Hub in the Jomoro Municipal Area in Western Region have been revamped following the assurance of the Paramount Chief of Western Nzema Traditional Area, Awulae Annor Adjei III to make land available for the project. Awulae Adjei III gave the assurance at a consultative meeting organised by the…