The one thing that is unclear about the decision of Muhammadu Buhari, the Nigerian President, to remove operatorship of Oil Mining Lease (OML) 11 from Shell and grant it to NNPC, the state hydrocarbon company, is whether he did so in consideration of Shell’s ongoing moves to divest its equity in the asset after it…
As Nigeria’s President Muhammadu Buhari prepares to begin his second term in office. President of Manufacturers Association of Nigeria, Mansur Ahmed, has urged him to address the challenges militating against the manufacturing sector of the economy. Boosting the manufacturing sector Nigeria urgently needs a massive economic stimulus programme. If he can surmount the energy problems, Buhari…
The country is on the verge of achieving a blend of Methanol in the production of gasoline and generation of electrical power, if the report of the Technical Committee (TC) on Methanol Fuel Technology Implementation programme set up by the federal government August 10, 2018 is anything to go by. The programme target a15 per…
An impact fund with an innovative approach for attracting much needed capital to the rural areas of developing countries has been launched at the annual meeting of Member States of the International Fund for Agricultural Development (IFAD). According to a statement on IFAD website, it was the at IFAD alongside with the European Union, the…
Another 120 youth entrepreneurs from seven states of the Niger Delta have been given Shell Nigeria LiveWIRE business training and N48 million by The Shell Petroleum Development Company (SPDC) Joint Venture to begin small-scale businesses in their respective states in the expectation that they will become models for alternative livelihoods as part of the programme…
For the past decade, the common refrain listed among the top challenges in Nigeria’s maritime sector is the issue of foreign domination. From all reported accounts, foreign firms dominate virtually every aspect of Nigeria’s coastal shipping trade, contrary to the provisions of the Coastal and Inland Shipping Act 2003, otherwise called the Cabotage Act. The…
The Nigerian Content Development and Monitoring Board has rejected a total of 1,494 expatriate quota applications, industry data obtained from the Federal Ministry of Petroleum Resources on Tuesday have revealed. It was also gathered that the NDCMB, however, approved 2,584 expatriate quota applications and that the rejections and approvals happened between 2016 and 2018. Further…
Worried by persistent drop in international crude oil prices, more Nigerian experts are becoming apprehensive that implementation of the 2019 budget may be hugely challenged as government revenue falls below key projections. The anxiety is further worsened by dwindling government revenues, occasioned by falling crude oil prices which have been on consistent decline in the…
Ernest Azudialu-Obiejesi, Chairman and Chief Executive of the Obijackson Group, parent of Nestoil Ltd, says that mechanical completion of the Oben Obiafu-Obrikom pipeline, a part of which the company is constructing, will be done by the end of March 2019 “and pre-commissioning and finalcommissioning much later in the year”. Azudialu-Obiejesi told Africa Oil+Gas Report in…
Kenya has addressed revenue-sharing issues and host community concerns in a new petroleum law signed by President Uhuru Kenyatta, The Petroleum Exploration Development and Production Bill 2017 grants the NationalGovernment 75% of the revenue accruing to the state from crude oil and gas exploited in the country, while County Government takes 20% and the Local…