A communications firm, Interstella Communications Ltd., has told the Central Bank of Nigeria (CBN) to obey a Supreme Court order by paying them $285 million judgment sum for alleged breach of contract. The Supreme Court of Nigeria had in a judgment delivered on Dec. 15, 2017 in Appeal No. SC 500/2014 ordered that $285 million…
The Nigerian Communications Commission (NCC) says it is committed to clamping down on the sale and usage of pre-registered SIM cards in the telecommunication industry. The Southeast Zonal Controller of the commission, Mrs Emilia Nwokoro, disclosed this on Monday, when she paid a courtesy visit to the zonal office of the News Agency of Nigeria…
Mozambique Liquefied Natural Gas (LNG) is set to be a game-changer for this East African nation of 31 million people MAPUTO, Mozambique, October 14, 2019/ — With a second FID in just 2 years, Mozambique has officially positioned itself as a key player in the global gas and LNG market for years to come. The…
The Nigerian National Petroleum Corporation, NNPC says the reopening of OML 25 signifies more revenue for the country and development for the host communities, following the resolution of dispute between the Shell Petroleum Development Company, SPDC and the host communities. The Group Managing Director of NNPC, Mr Melee Kyari stated this at the formal hoisting of SPDC…
Ongoing forensic audit of statutory remittances by oil and gas companies into the Nigerian Content Development Fund, NCDF will end on November 30, the Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Engr. Simbi Kesiye Wabote has said. He stated this during a recent meeting in Abuja with forensic auditors contracted by…
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations said they released an average of 3,480 MegaWatts of electricity into the national grid on Sunday. 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 Monday. The report…
Mrs Zainab Ahmed, the Minister for Finance, Budget and National Planning says under-recovery of Premium Motor Spirit (PMS), popularly referred to as fuel subsidy will gulp N450 billion in 2020. She said this on Monday in Abuja, at the public presentation of the 2020 budget proposals. Ahmed said it was called ‘under-recovery’ because it was…
The Lagos State Government said that it would work out a lasting solution to the challenges faced by tank farm owners and residents at the Ijegun-Egba area of the state. The Ijegun-Egba is a sub-urban community in the Alimosho Local Government Area of the state. The Governor of Lagos State, Mr Babajide Sanwo-Olu, gave the…
The Federal Government says it will increase crude oil production to the national target of three million barrels per day and reserves of 40 million barrels before 2023. Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), said this while addressing the House of Representatives Committee on Petroleum Upstream chaired by Rep. Musa Adar…
A Nigerian Investment Bank, FSL Securities Limited is assisting Imo State Government to raise about One Hundred Billion(100b) Naira for infrastructural development in the State. The group made the disclosure during a meeting with the Deputy Governor of Imo State, Engr. Gerald Irona at the Government House, Owerri, Tuesday afternoon. In his presentation, Group Managing Director…