The foundation stone for polyol complex – MOL’s 1,2 billion EUR petrochemical investment – has been laid in Tiszaújváros The polyol complex is expected to be commissioned in 2021 and will create 200 jobs in the operating period. With a budget of EUR 1.2 billion, also supported by the Hungarian government through tax allowances and…
The Federal Government yesterday announced commencement of a major review to power procurement policy. Minister of Power, Saleh Mamman, who declared this during the Power Nigeria conference in Lagos, maintained that the fresh policy direction would, among other things, guarantee the evacuation of over 2000 Mega Watt of power stranded between generation and distribution companies…
African Development Bank President Akinwumi Adesina on Tuesday unveiled ambitious plans to scrap coal power stations across the continent and switch to renewable energy at United Nations climate talks on Monday. Addressing a gathering of leaders and officials from almost 200 countries in New York, Adesina outlined efforts to shutter coal-fired power plants and build…
The National Broadcasting Commission has sanctioned 45 broadcasting stations which allegedly breached its code in the 2nd quarter of 2019. NBC Director General, Mallam Ishaq Kawu, made this known while addressing a news conference on Wednesday in Abuja. He said the contraventions included breaches of the rules on hate speech, abusive and inflammatory broadcast. Kawu stressed…
An energy expert, Dr Damola Omole, Head, Power and Energy Strategy, Dangote Industries, says increasing electricity tariff will not solve the problems bedeviling the power sector in Nigeria. Omole said this on Wednesday at the ongoing Power Nigeria Agenda Exhibition organised by Informa markets in Lagos. He said that increasing the tariff would only amount…
The Lagos State Government has called on private investors to assist the state in the provision of 9,000 megawatts to enable it transform the economy of the state. Gov. Babajide Sanwo-Olu made the call at the Corporate Council on Africa Forum on the sideline of the ongoing 74th Session of the United Nations General Assembly…
The Nigerian National Petroleum Corporation (NNPC) has signed a novation agreement with Nigerian Agip Oil Company (NAOC) on Oil Mining lease (OML) 60,61,62 and 63. Nigerian Agip Oil Company (NAOC) Limited operates in the Niger Delta, under a joint venture arrangement with NNPC (60 per cent), NAOC (20 per cent), and Oando (20 per cent), The Group Managing Director of…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, said fossil fuel would remain relevant in the global energy mix. He said that this was contrary to assumptions that crude oil demand would be very high even beyond 2040. Kyari made the declaration, in a statement on Wednesday in Abuja by…
The Federal Competition and Consumer Protection Commission (FCCPC), has urged Kano Electricity Distribution Company (KEDCO) to stop extorting electricity consumers in the state. The Commission’s Executive Director, Mr. Babatunde Irukera disclosed this on Wednesday during a town hall meeting between consumers, electricity distribution company and stakeholders at BMC Event Centre in Dawakin Dakata in Kano….
Mr Nduka Ohaeri, the President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has called on Abia government to expedite action in boosting infrastructure in the state. Ohaeri made the call on Wednesday when he led members of his association’s Central Planning Committee on a courtesy visit to Gov. Okezie Ikpeazu at the…
