The Group Managing Director, Sahara Power Group, Mr Kola Adesina, has said power firms do not gain anything from blackouts as their business is to sell electricity to consumers. Adesina stated this on Monday in Lagos, adding that the absence of cost-reflective tariff was limiting the power providers’ capacity to deliver better services. He said;…
A Chinese mining giant, Jin Bao Rong Group of Companies, said it is commencing exploration and mining operations soon in the Nigerian mining sector based on the improved business environment. Chief Executive Officer, Jin Bao Rong Group of Companies, Zhang Fenglan, who visited the Minister of State for Mines and Steel Development, Abubakar Bwari, last…
The Nigeria Security and Civil Defence Corps (NSCDC), Edo Command, has intercepted a truck laden with 45,000 litres of suspected illegally-refined petroleum products. Mr Makinde Ayinla, the State Commandant of the NSCDC, made the disclosure to Newsmen in Benin on Tuesday. Ayinla said that the truck was intercepted at Aduwawa area on Benin/Auchi road. He…
The Senate has resolved to set up an ad hoc committee to investigate $3.5 billion Subsidy Recovery Fund, allegedly created by “the Nigerian National Petroleum Corporation (NNPC) and solely managed by its Group Managing Director and the Executive Director, Finance’.’ The decision followed a Point of Order raised by the Senate Minority Leader, Senate Abiodun…
Respected businessman cum philanthropist, Captain Hosa Okunbo, has caused to be issued again a statement dissociating him from the controversial oil swap deal involving former Minister of Petroleum, Mrs Diezani Allison-Madueke. An unverified news report currently being circulated among Whatsapp users, which listed some Nigerian businessmen as beneficiaries of the said fraud, is a rehash…
The minister of transportation, Rotimi Amaechi, has said that the Abuja-Kaduna rail line cannot run faster that 90 kilometres per hour because “we don’t want to kill cow.” PDP presidency: Nigeria’ll be worse if PDP returns in 2019 – Balarabe Musa Amaechi According to him, there are cows everywhere between Abuja to Kaduna and the…
Maritime activities are essential to the world’s economy, as about 90 per cent of the world’s cargo is carried by ships being the most cost-effective way of moving goods around the world. Nigeria enjoys a larger share in the movement of these cargoes, due to its location along the Gulf of Guinea, which is a…
The Minister of Transportation, Rotimi Amaechi, on Tuesday reinstated the Federal Government’s commitment to resolve the gridlock witnessed on Apapa road, which he said “would soon be a thing of the past“. Amaechi said this while receiving members of the Governing Board, Nigerian Shippers’ Council (NSC) led by the Chairman, Hon. Mai Mala Buni in…
The U.S African Development Foundation (USADF) and All-on have partnered to develop, scale up and promote the use of renewable off-grid energy technologies to reach communities not served by existing power grids in Nigeria. Mr C.D Glin, the President/CEO of USADF told journalists in Lagos that the All On-USADF collaboration would co-finance innovative Nigerian off-grid…
The stability of the national electricity grid is being threatened as fibre optics on transmission towers are in use for telecommunication services by Phase3 Telecom rather than to monitor the national grid. The Transmission Company of Nigeria (TCN) cancelled a 15 year fibre optics network concession contract it had with Phase3 Telecoms and Alheri Engineering…
