Saudi Arabia is working towards convincing Russia to stay much longer in an OPEC-led pact cutting oil supply, and Moscow may agree only to a three-month extension, three sources familiar with the matter said. Russian Energy Minister Alexander Novak told his Saudi counterpart Khalid al-Falih when the two met in Baku this month that he…
President Muhammadu Buhari has unveiled a Micro Pension Plan for people operating in the informal sector of the economy, even as he promised to halt the rot in the nation’s pension system. The President, while unveiling the pension plan on Thursday in Abuja, noted that those in the informal sector needed to be captured in…
The Nigerian Communications Commission says it has concluded arrangement for the payment of subsidy to telecommunications operators known as Infrastructure Service Providers. Executive Vice-Chairman of the NCC, Prof. Umar Danbatta, said this on Friday when he received a delegation from the United States Trade and Development Agency, according to a statement made available to our…
The Nigeria Integrated Water Resources Management Commission has issued licences to Nestle Water and Winners Power Gardens companies for water supply and hydropower construction respectively. The Executive Director, Reuben Habu, who confirmed this, said the issuance of licences to prospective applicants was another landmark, having met the conditions required by law. Habu stated that as…
As parts of efforts to expand the penetration and accessibility of renewable energy in Nigeria, ‘infinity,’ an online solar energy technology which optimises diverse power provision has been unveiled in the Nigerian market to close the lingering energy gap. The technology, which is a combination of smart storage of energy and solar, has been formulated…
Tope Shonubi, the Executive Director, Sahara Group has told stakeholders at the African Refiners Association (ARA) meeting in Cape Town, that adoption of unified standards across Africa will create a bigger and more effective regional market that will enhance the continent’s competitive positioning in global energy markets, Shonubi said the existence of a fragmented petroleum…
Major stakeholders in Nigeria’s oil and gas sector have converged to press on government to adopt the co-location strategy to unlock huge potentials in the country’s gas sector. The co-location initiative is an outcome of extensive Gas Based Industrialization, GBI, study conducted by Facility for Oil Sector Transformation, FOSTER, a non profit organisation given the…
Mr Abayomi Awobokun, the Chief Executive Officer of ENYO Retail and Supplies Ltd., has commended the Federal Government on its effective petroleum distribution chain across the country in the last two years. Awobokun gave the commendation at the official commissioning of the ENYO `Olowo Eko’ retail outlet station at Ikate Bus stop, Lekki, Lagos. According…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed the corporation’s commitment to support any project that would encourage production and utilization of natural gas for the benefit of the nation. Disclosing this recently at the signing ceremony of the Nigeria Liquefied Natural Gas Limited (NLNG) Train 7,…