The Nigeria Electricity Liability Management Ltd, NELMCO, says it has saved over N66billion for the Federal Government, through its newly developed model known as the Triangular Verification Model. NELMCO was established in 2006 as a company limited by guarantee to assume and manage the assets and liabilities of the defunct Power Holding Company of Nigeria,…
AS the festive season approaches, a shortage in the supply of Liquefied Natural Gas, LPG known as cooking gas has resulted in price hikes, SweetcrudeReports has gathered. According to findings, as at last month, 12.5kg of the products sold for N2900 however, the dawn of November had ushered in new prices ranging from N3600-N4000-N4500 for…
Halima Aliko Dangote has been appointed as the Group Executive Director, Commercial Operations of Dangote Industries Limited, DIL, one of Africa’s largest and most diversified business conglomerates. According to a release by the company, Halima Aliko Dangote is returning to the Group after serving on secondment in several capacities across two of its Business Units over…
The Port Harcourt Electricity Distribution Company, PHED, has attributed the ongoing blackout currently being experienced in the four states of its operation, to a system collapse from the national grid. PHED Manager, Corporate Communications, Mr John Onyi, appealed to its valued customers in Akwa Ibom, Bayelsa, Cross River and Rivers State to exercise patience while…
Oil prices edged lower on Monday as little progress on U.S.-China trade negotiations kept prices pressured, but bullish inventory data in the United States offered some support. Brent crude futures lost 33 cents to settle at $62.18 a barrel, after falling to $61.57 earlier in the session. U.S. West Texas Intermediate (WTI) crude fell 38…
Lower prices and increasing competition for investment are driving many African states to make it easier and cheaper for overseas companies to keep their oil and gas output flowing. From Ghana to Gabon, governments are adjusting terms to lure picky investors who are also increasingly concerned about long-term demand for fossil fuels as renewable energy…
Power plant tenders in Q3 2019 saw 314 tenders announced, marking a drop of 30% over the last four-quarter average of 446, according to GlobalData’s power industry tenders database. The proportion of tenders by category tracked by GlobalData in the quarter was as follows: – Project Implementation: 277 tenders and an 88.2% share – Consulting…
Members of Liquefied Petroleum Gas Retailers (LPGAR), a branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), have condemned the current arbitrary increment in price of LPG and supply shortages. The Branch Secretary of LPGAR, Comrade Olukayode Aborisade Solomon, in a statement stated that LPGAR is highly dissatisfied with sudden upsurge in…
An IT expert and Executive Director, NETSAT Media, Mr Collins Nnabugwu has urged the federal government to improve funding of Artificial Intelligence (AI) research to revolutionise development of Information Communication Technology (ICT) in the country. Nnabugwu, the Country Ambassador for the Global Startup Ecosystem made the call on Monday in Lagos. He said that AI…
Transmission Company of Nigeria (TCN) has said that it had restored full power supply to the national grid at 4:54 pm on the 9th of November, 2019, after the partial system collapse which occurred at 11.15 pm on Friday, 8th November, 2019. The company announced that during the entire period however, the nation did not…
