Mordi Chukwunonso Esther Mahmud A. Mohammed and Ikechukwu Nkwocha-Philip were convicted and sentenced to 10 years in prison each without option of fine for $1m oil fraud by Justice Olasumbo Goodluck of the Federal Capital Territory (FCT) High Court, Abuja on Friday, September 2020.The three convicts were arraigned alongside Globtec Resources limited (third defendant) by…
The minister of state for petroleum resources, Chief Timipre Sylva has said the petroleum Industry Bill (PIB), now before the National Assembly, will unlock several midstream gas opportunities when it is passed into law. He disclosed this on Tuesday at the virtual 2020 Business day Energy Series- Fuel of the Future (Gas) Summit- with the…
By Mordi Chukwunonso Esther The president of the senate, Dr Ahmad Lawan, has revealed that Nigeria was faced with $14 billion revenue shortage during the current fiscal year due to the nation’s overdependence on oil. Lawan made this known in his welcome address as the Senate resumed plenary after a two-month vacation. ‘’We were confronted…
By Jerome Onoja, Ikenna Omeje Stakeholders in Nigeria’s oil and gas industry have lent their voices to the ongoing consultation by the National Assembly on expanding the benefits of Nigerian content to the economy through amending the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, giving assent to both the proposed Nigerian Content…
Following President Muhammadu Buhari’s approval of one year deferment of the 35 per cent import levy on electricity meters to help improve Nigeria’s electricity meter deficit, the Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to review its decision to promote full local content in the manufacturing of pre-paid meters….
The Senate President, Dr. Ahmad Ibrahim Lawan on Thursday opened the training sponsored by the Nigerian Content Development and Monitoring Board (NCDMB) for 1,000 youths from Yobe State, focussing on GSM phone repairs, hardware, software, and entrepreneurship development. The training is part of NCDMB’s Youth Empowerment Programme for the North East and is designed to…
Deregulation and the attendant hike in fuel price, amid the COVID-19 pandemic, is generating controversy across the country and has pit the people against the government. This article explores the arguments in support and against the policy and changes that are expected in the short to long term. The Federal Government, in March 18, 2020,…
Funmi Ogbue, the co-founder of WIEN (Women in Energy Network) has built successful structures on which her organizations have thrived in the consulting, oil and Gas, defence and development sectors. She has demonstrated the importance of female leadership in a country where 50% of the population are women who are largely underemployed. She has grown…
Daniel Terungwa After reviving crude prices from an unprecedented collapse over thespring, OPEC+ is seeing the recovery stall and fuel demand falter as thedeadly pandemic surges once again. Prices slipped below $40 a barrellast week for the first time since June.On Thursday, Saudi Arabia and Russia, the leading members of thealliance, will chair a monitoring…
Daniel Terungwa The management of Benin Electricity Distribution Company (BEDC) has stated that customers who received power supply between eight and four hours will continue to pay old rates until end of year. The company’s executive director, Mr. Abu Ejoor, stated this during a media engagement on the new Service-Based Tariff (SBT) for Nigerian Electricity…