FOLLOWING the institution of the Marine Vessel Categorization Scheme with a view to increasing local participation in the marine service sector, the Nigerian Content Development and Monitoring Board, NCDMB has said that Nigerian ownership of marine vessels currently stands at 40 percent. Speaking at the just concluded naming ceremony of a newly acquired marine vessel…
Nigerian oil and gas company Seplat has completed its purchase of Aberdeen based company Eland Oil & Gas for £382m. The deal was first announced in October 2019, with Seplat valuing Eland at 166p a share. Following that announcement, the acquisition had to be approved by 75% of Eland shareholders. It also had to be…
Minister of State for Transportation, Gbemisola Saraki, has said that the Federal Government will continue to create the enabling environment for businesses to strive just as it will also continue to remove hurdles that will not allow for smooth business operations in the maritime sector. Speaking at the christening of a newly acquired vessel, Team…
Efforts to increase ship traffic at the Eastern ports has received a boost with the successful handling of a containership named ‘ JPO Volans’, is the first gearless vessel and the largest containership ever to visit a seaport in the Eastern part of the country. The vessel measuring 265 metres in length called at…
The South African cabinet on Tuesday called for a speedy resolution of the electricity problems in the country to ensure energy certainty. The Minister in the Presidency Jackson Mthembu made the plea at a press briefing in Pretoria about the outcome of the Cabinet meeting on Dec. 13. He said the cabinet mandated the Public…
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations said they released an average of 3,844 MegaWatts of electricity into the national grid on Monday. This is contained in a daily energy report by the Advisory Power Team, office of the Vice President a copy of which was obtained in Abuja on Tuesday. The report…
The Federal Government on Tuesday assured Nigerians of adequate power supply during the yuletide. The Minister of State for Power, Mr Goddy Jedy-Agba, gave the assurance during inspection of Azura-Edo power plant in Benin. Jedy-Agba said Azura was working to make power available to the country. “I am here to see what the power plant…
The Nigerian Electricity Regulatory Commission (NERC), says the 11 electricity Distribution Companies (DisCos) received 145,959 complaints nationwide in the second quarter of 2019. The information is contained in the Second Quarter Report obtained from the website of NERC, the regulator of the industry in Abuja on Tuesday. The report said that the figure represented a…
The Electricity Consumer Protection Forum on Monday opposed the request by power Generation Companies (Gencos) and Distribution Companies (DisCos) for N1.2 trillion bailout from the Federal Government (FG). The group’s National Coordinator, Mr Adeola Samuel-Ilori, made its position known in an interview with the News Agency of Nigeria in Lagos. The GenCos and DisCos had recently…
Ports and Cargo Handling Services Ltd., the flagship company of SIFAX Group, on Monday commissioned new equipment worth more than 20 million dollars to boost its service delivery at the port. Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group, disclosed this at the Ports and Cargo Handling Services Ltd. equipment commissioning in Lagos. Oyinloye said…