The Nigerian Electricity Regulatory Commission (NERC), on Friday, June 21, announced the approval of N21 billion for 11 electricity Distribution Companies (DisCos) to provide meters for end-user customers. This was contained in its ORDER NO: NERC/2024/072 on The Operationalization of “Tranche A” of the Presidential Metering Initiative Under the Framework of Meter Acquisition Fund. NERC…
●As Kyari promises project will be ready 1st Qtr 2025 The Federal Government has highlighted the huge multiplier impact of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project on the nation’s economic growth and industrialisation. This was made known during the visit of three cabinet Ministers to the AKK Gas Pipeline Project Site where they inspected the…
On Thursday, Nigeria’s Nigerian National Petroleum Company Limited (60 percent) and TotalEnergies (40 percent), the operator of Oil Mining Lease 58 onshore license in Nigeria, signed a $550 million Final Investment Decision for the development of the Ubeta gas field. Located about 80 km northwest of Port Harcourt in Rivers State, the OML 58 licence…
The $550 million final investment decision for the Ubeta Field Development Project has been announced by the NNPC-TotalEnergies JV, which is a significant step towards increasing Nigeria’s oil and gas production. This milestone, according to NNPC aligns with President Bola Tinubu’s Presidential Executive Order on Oil and Gas Reforms, designed to improve the investment climate…
Following the Central Bank of Nigeria’s March mandate on recapitalization, Fidelity Bank Plc became the first bank to go public on Thursday when it began its N127.10 billion rights issuance and public offer. Fidelity Bank on Thursday commenced its public offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share and…
The Debt Management Office (DMO) says Nigeria’s total public debt stock hit N121.67 trillion (91.46 billion dollars) in March. The Director-General of the DMO, Patience Oniha, made this known in a statement on Friday in Abuja. Oniha said that the debt stock comprised the total external and domestic debts of the Federal Government, the 36…
The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited, according to a report by The PUNCH. An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn. However, in the new audit, the government said it had approved…
A recent incident involving an “unknown aircraft” flying over the Presidential Villa in Abuja has been identified as a Max Air flight. Trust News Africa gathered that the aircraft, which sparked panic among government officials in the capital, was flying from Kano to Abuja. “The airline mentioned in this memo was Max Air flying into…
● governor emphasizes the nexus between effective leadership and business-friendly environment… The management of Nigeria’s leading domestic gas infrastructure development, gas liquefaction and distribution company, Greenville LNG, paid a courtesy call on the Kaduna State Governor, Senator Uba Sani, last Friday. The Greenville LNG delegation to the meeting with the Governor was led by the…
