Gas supplies to the power sector may run into a hitch following advance notice by indigenous gas producers that the N701 billion Payment Assurance Guarantee by the federal government elapses by December this year. The gas suppliers said the fund which was released by the Central Bank of Nigeria (CBN), to ameliorate liquidity crisis in…
The Federal Government will earn over $20 billion from the mining industry in the next eight years, the Mining Cadre Office Director-General, Mr. Mohammed Amate, has said. He said the government has issued over 6,000 licences to miners, adding that it will leverage the potential in the sector to achieve the goal. In an interview…
Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, according to data obtained from the National Bureau of Statistics (NBS). The NBS, in its Second Quarter 2018 Foreign Trade Statistics, stated that first half…
Nigerian Communications Commission (NCC) has disclosed that the sector loses about $3billion in revenue occasioned by call masking/refiling and SIM boxing. Prof. Garba Umar Danbatta, executive vice chairman of the Commission, said that “SIM boxing or Interconnect By-pass Fraud (IBF) is one of the most prevalent frauds in the telecom industry today and it…
Space Research and Development Agency (NASRDA) has identified communities in four states and Abuja as locations where major earthquake may likely occur in the country. Prof. Seidu Mohammed, director general of NASRDA, who disclosed this Abuja, also said Mpape in Abuja, Kwoi in Kaduna, Ijebu-Ode in Ogun, Shaki in Oyo and Igbogene in Bayelsa may…
Nigeria’s oil exports will reach their highest in six months in November, led in part by an increase in supply of the country’s four largest crude grades, according to loading programmes. Total loadings of Nigerian crude will rise to 1.876 million barrels per day in November, from October’s 1.652 million bpd. November’s will be the…
There are indications that the rift between Lagos Deep Offshore Logistics Base, LADOL and Samsung Heavy Industries, SHI, may be resolved in future as LADOL, the operator of the Lagos free trade zone, yesterday allowed SHI to return to its dockyard. Recall that Samsung was banished from the Lagos-based dockyard since September 2, 2018 by…
About 19 companies have indicated interest to acquire Afam Power Company and Yola Power Distribution Company (YPDC) recently put up for sale by the federal government. The Bureau of Pubic Enterprises (BPE) spokesperson, Amina Tukur, said at the close of the submission of bids for the Expression of Interest (EOIs) for the two power companies,…
The Federal Government on Wednesday disclosed plans to unveil the first modular refinery in the country in the first week of November. The refinery, owned by Niger Delta Petroleum Resources, in Ogbele, Rivers State, is expected to refine 10,000 barrels of crude oil daily. The Senior Special Assistant to the President on Niger Delta, Mr…
Among the major challenges of any manufacturer is keeping costs to the barest minimum and especially ranging from cost of diesel and unnecessary expenses through sharp practices. IT solution and software development company, Concept Nova, says its IT solutions can help eliminate such losses. Speaking in Lagos during the launching of some its products and…
