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Showing posts from April, 2022

NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve

Power Ministry is yet to address sector's problems, says Reps By Akinola Ajibade

The  Power Ministry is fond of postulating theories that do not translate into power supply to Nigerians, the House of Representatives Committee on Power has said  Its chairman, Hon. Magaji Da’u Aliyu,said during a  special interactive session in Abuja that the Ministry has practically not addressed issues that surround the sector in Nigeria. She said that  the seemingly  unenthusiastic and fire brigade attitude of the Ministry towards power issues each time there is a national emergency is not good enough. Also, the Permanent Secretary in the Ministry  Nebolisa Anoka who represented the Minister, Abubakar Aliyu,  stated that there was nothing in the presentation to show that the Ministry was solving the problems. Anoka  listed challenges facing the sector to include low gas supply,  hydro levels, as well as disequilibrium between power generation, transmission and distribution which led to the collapse of the national grid, stressing that the Ministry has been doing a lot in order to

Fed Govt spends N675.93b on subsidy in the Q1 of 2022 By Akinola Ajibade

By Akinola Ajibade The Federal Government has spent  N675. 93 billin on subsidy on Premium Motor Spirit(PMS)  popularly called petrol for the first three months of 2022,  the latest data obtained from the Nigerian National Petroleum Company Limited on Wednesday has shown.. Figures obtained by the News Mirror from NNPC in Aburo recently shows that the oil firm has spent N210.38billlion in January, N219.78bilion in February and N245.77 billion in March this year respectively.  Prior to this period, the Nation Oil Company ( NOC) has on behalf of the government informed the Federation Account Allocation Committee that it would deduct or recover  N671.88bn from April 2022 proceeds due for sharing at the May 2022 FAAC meeting. In the formation, the  government  described the N671.88bn as a value shortfall incurred by the NNPC, since  the oil firm  remained the sole importer of petrol into Nigeria and has been subsidising the commodity using billions of naira monthly This implies that within

Police arrest four for rape, cyber crimes, others

By Akinola Ajibade  The  Ekiti State Police Command has arrested four people for conspiring together to rape and videotaping a 28 years old lady. In a press statement  signed and released to the National Association of Online Security News Publishers, NAOSNP by the Command’s Spokesperson, ASP Abutu Sunday, the Command said that: "The Juvenile Welfare Centre (JWC) of the State CID,, on 21/04/2022 arrested four individuals for raping and other criminal activities. The suspects are Miracle Emmanuel ’19yrs’, Bello Tunde ’20yrs’, Peace Osho ’20yrs’ and Emmanuel Oluwaseun ’22yrs’ for conspiracy to rape a lady on her 20s cyber stalking her among other numerous offences. According to the statement, “The victim narrated that on 5/4/2022, her boyfriend, one Victor who is currently at large, invited her to Lovely Hotel, Ado-Ekiti. She obliged after much persuasion and went to the Hotel to see Victor.” To her dismay, according to her, on getting to one of the Hotel rooms where Vic

Customs intercepts goods worth N232.m

By Akinola Ajibade The Nigerian Customs Service( NCS) have seized contrabands worth N232.53 million in the last one month.  The Federal Operations Unit( FOU) Zone B Kaduna of the Service seized thegoods. The items was siezed between March 23 and April 25, 2022. Presenting the stewardship of the Service duringg an interview with the media recently, NCS iComptroller Al Bashir Hamisu, said the items include: 1,314 bags of foreign parboiled rice, a total of 219,000 tablets of Ladinax and Sifdol both unregistered pharmaceuticals, 642 cartons of foreign spaghetti and macaroni, 303 kegs of Premium Motor Spirit (PMS) 25Liter size. Also, the Customs Public Relations Officer (CPRO) MA Magaji, in a statement, said:that the seizure is part of the efforts of the NCS to free the country of illegally imported goods. The statement said: “Prominent among the interceptions made were 15 bags of 100kg beans containing foreign parboiled rice ingeniously concealed with the beans, 94 bales of

EKEDC: Three remanded for assaulting the firm's staff

By Akinola Ajibade Three suspects have been remanded by the Badagry Magistrate"s Court for  assaulting a staff of Eko Electricity Distribution Company (EKEDC). They are  Sikiru Suleman, 43; Omoghene Emmanuel, 19; and Ezike Eucharia, 42.  The trio are cooling their feet at the  Badagry Correctional Centre for assaulting a staff of the utility firm, Janet Onosherena Alugbhe, at Hughes Avenue in Alasia Ijanikin, Lagos. In a statement signed and made available to the News Mirror,. the company's  spokesperson of EKEDC, Godwin idemudia, said that the suspects assaulted  the victim while discharging her lawful duties as a field-representative officer. He said: "  On April 17, 2022, Alugbhe visited the area to collect evidence of meter bypass after she had received information about the massive cases of such illegal activity in that area. On her way out of the avenue, she was mobbed and violated by about 30 people. She was pulled from a bike by her hair, her clothes w

2023: Kalu advocates slot for South-East

By Akinola Ajibade  The Chief Whip of the Senate,. Orji Kalu, says he would not contest for the office of the President, once the major political parties zone their tickets to the South-Eastern part of Nigeria.  In a statement issued yesterday ( Tuesday) in Abuja and made available to News Mirror',  said that it was his desire and intention to run for the Presidency. According to him, I am committed to this pursuit, but I can’t make an official declaration to this regard without the full support of other regions. He said: " Everywhere in the world, politics is situational and that of Nigeria is exceptionally situational. The situation in Nigeria is that without the support of other regions, it would amount to a shadow chase for a South Easterner to be President. Adding that: " This is the reason I have been in the frontline of the call that the two major political parties, the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) should zone t

'Zenith remains third best bank again"

By Akinola Ajibade Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2022, retaining the award for a third consecutive year. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 29th Annual Best Bank Awards Winners.T he editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide.G Global Finance considered factors that ranged from the quantitative objective to the informed subjective in selecting the top banks.  Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products, while Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Commenting on the award

Nigeria will record serious attacks soon, says DSS

By Akinola Ajibade Plans are underway to detonate explosives in some parts of Nigeria', as the 2023 elections are fast approaching, the  Department of State Services (DSS) has said. This happens as wanton killings and destruction of properties continue unabated in the country,  a development widely attributed to Insurgency and armed robbery in Nigeria  DSS drew the attention of Nigerians to the plans that are being orchestrated by criminal elements in the country yesterday.  According to the Service Spokesman, Dr Peter N.Afunanya, plans are been made to return Nigeria to  the pre-2015 era reminiscent of  Improvised Explosive Devices IED attacks on soft and hard targets in parts of the country. He said in a statement issued to the media and which the News Mirror has a copy of that are energies of the State( Government) are making plans to bomb strategic areas in Nigeria soon. Afunnanya said that the Service has uncovered a ploy by suspected criminal gangs to forge allian

Fed Govt gets £62m power equipment from Siemens By Akinola Ajibade

Fed Govt gets £62m power equipment from Siemens  By Akinola Ajibade  Nigeria will take delivery of 10 Mobile Reansformers  and 10 Mobile Substations from Siemens soon  The delivery of the power equipment is under the the first phase of the Presidential Power Initiative which the Federal Executive Council (FEC) approved to the tune of $1.9 million and €62.9 million in 2021. The Country's Minister of Power,  Abubakar Aliyu made this known after his recent visit to Siemens in Berlin and Frankfurt, Germany. Power minister (second right) and entourage at Siemens in Germany The PPI is a power upgrade and modernisation programme between the Nigerian government and Siemens with the support of the German government. In July 2019, the federal government signed a PPI deal with Siemens AG to increase Nigeria’s electricity generation to 25,000 megawatts (MW) in six years. In July 2020, President Muhammadu Buhari approved the payment of €15.21 million and N1.708 billion as counterpart funding fo

Musk may buy Twitter at $43b soon. By Akinola Ajibade

Musk may  buy Twitter at  $43b  soon  By Akinola Ajibade  World richest man, Elon Musk, is about to become the owner of Twitter,  a global social media outfit, which the Nigerian government banned  its usage in the country for a while. Musk, who doubles as the Chief Executive Officer,  Tesla motors, is believed to be on the verge of buying Twitter.  His representative, according to a microblogging site is in talks with Twitter to seal the deal  in order to seal the deal soon. Musk is a globally acclaimed  microbiologist. News Mirror reports  quoting New York Times that the 11-member board of Twitter  was negotiating with Musk yesterday ( Monday) in order to buy the company, valued at $46.5 billion days ago.  It was reported that Elon Musk and Twitter were discussing details including a timeline to lose any potential deal and any fees that would be paid if an agreement were signed and then fell apart . Elon Musk and Twitter logo As of Monday, there was no agreement between both parties.

PIA implementation starts upstream, says Fed Govt

     Oil exploration facility By Akinola Ajibade The Federal Government will start the process of implementing the Petroleum Industry Act( PIA) in the upstream sector of the nation's oil and gas industry, the Minister of State for Petroleum Resources,  Chief Timipre Sylva has said. He said this during a two-day conference organised for stakeholders in Abuja recently.  The conference was organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to intimate operators on the process of ratifying the first set of regulations was on the Act  According to him, the first set of regulations  would govern the sector in line with Section 216 of the PIA, stressing that the forum was convened to enable stakeholders provide inputs to fine-tune key regulations as prepared by the NUPRC and the Presidential Steering Committee. He said: " “It is believed that a robust engagement such as this will create the platform for all of us to brainstorm in a constructive man

Stakeholders kick, accuse IOCs of dictating divestments in Niger Delta

By Akinola Ajibade The International Oil Companies ( IOCs) operating in the country are dictating the terms of ongoing divestments from onshore to offshore operations, stakeholders alleged.  The Oil Majors are Shell, Exxon Mobil, Chevron, Total among others Of note, some of the  firms have a long history with Nigeria, especially oil producing areas of Noge Delta, where they produce and explore oil fir growth  The stakeholders, who expressed their minds in a communique  issued at the end of a ‘Community Dialogue on Motives Behind IOCs Divestment in The Niger Delta’ accused the IOCs of dominating the spate of activities in the region. The event was organised by the  Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) in Yenagoa, Bayelsa State. A Professor of Sociology at the University of Port Harcourt, Sofiri Joab-Peterside,and the Vice-Chancellor of the Federal University, Otuoke, Professor Teddy Adias,spoke  on “Redefining Divestment: The Nigerian Experienc

Imo explosion: Fed Govt orders clampdown on illegal refinery operators

By Akinola Ajibade The Federal Government is not leaving any stone unturned in order to deal with operators of illegal refineries' in the country, as it launched a clampdown on them. This happens, as President Muhammadu Buhari yesterday directed the nation’s armed forces, security and intelligence agencies to intensify the clampdown on illegal refineries in the country. Reacting to the deaths of tens of people who died after an illegal refinery exploded on Friday night at Abaezi forest in the Ohaji-Egbema Local Government Area of Imo State, the President described the incident as painful, adding that it must be stopped once and for all. Buhari in a statement by his media aide, Garba Shehu, said that the incident is a national disaster, stressing that security agencies should not fold their arms at this trying period in the country. He maintained that the responsibility for the loss of lives and property must squarely lie with the sponsors of the illegal refinery, wh

Shell will supply gas to 225Mw plant if.......,.

.. By Akinola Ajibade Barring any hitches, Shell Nigeria Gas (SNG) would be supplying gas  to an Independent Power Plant( IPP) with a view to enable it generate 225 megawatts ( Mw) of electricity for the country.  Already, the company has over 150 customers on its list, a development, which implies that the firm is deepening its operation in sector. A statement from Shell said that the plant is located in the South-Eaatern part of the country,  and that it is being promoted by Goodsyenergy Oil West Africa Limited (CS OWA) . The statement quoted the Managing Director,, SNG, Ed Ubong, as saying that the plant would be providing all the gas needed by the plant in order to enhance its productivity.  ' It added that : " The firm  has signed the heads of terms agreement with CS OWA as a prelude to a potential Gas Sale and Purchase Agreement,” adding that the new partnership “will deepen domestic gas utilisation, enhance further industrialisation, and enable local industries to have

' How fuel tanker killed one person, destroyed properties'

By Akinola Ajibade Facts have emerged over the cause of the recent fuel tanker explosion, which claimed the life one person and destroyed properties worth millions of naira  News Mirror authoritatively gathered that scooooers were fingered to be the caus of the fire, which spread through some roadside  makeshift shops to its source at Ajegunle Bus Stop- Lagos State Fire and Rescue Service. Affirming the cause of the inferno, the Lagos State Fire and Rescue Service said that the  45,000 litres laden petrol tanker exploded in Lagos, killing one and destroying millions of property. Director of the agency, Adeseye Margaret, said in statement said that though her  men successfully combated the Fire outbreak at Ajegunle via Toll Gate Bus Stop, Abeokuta Expressway, bordering Lagos and Ogun States. She blamed the nefarous activities of scoopers at the Toll Gate end for the fire.  She said; " “The emergency which was in the midnight of Friday resulted from a Tanker meant to ser

'32 fuel- laden cargoes are expected in Nigeria soon'

 By Akinola Ajibade No fewer than thirty two fuel-laden ships are expected in Nigeria in the next two weeks, in line with the plans by the Federal Government to improve supply of the loop product and further prevent  scarcity .  The  Nigerian Ports Authority ( NPA) said that the ships are billed to arrive the country between April 23 to April 30 of this year    According to NPA in its daily Shipping Position, the ships were expected to arrive with petroleum products, food items and other items. It listed the items as general cargo, frozen fish, container, bulk sugar, butane gas, bulk wheat, bulk urea, bulk salt, bulk gypsum, bulk steam coal, petrol, automobile gasoline and liquefied petroleum gas. The ports authority said that another nine ships had arrived at the ports waiting to berth with bulk sugar, bulk wheat, general cargo, soda ash and petrol. It said that 24 other ships at the ports were discharging bulk wheat, general cargo, frozen fish, base oil, automobile gasoli

Huge prospects, as Ondo exports Chocolates July

By Akinola Ajibade Brighter future awaits sons and daughters of Ondo, as the state would start exporting Chocolates to Europe and United States respectively in the third quarter of this year  Precisely, the agrarian state located in the Western part of Nigeria, would commence exporting Chocolates to Canada and U S A  as from July, 3022. The Managing Director,   Sunshine Chocolate Factory,Robo Adhuze,disclosed this during an interactive forum with the media in Akure The Sunshine Chocolate Factory is a Public Private Partnership between Ondo State government and an indigenous company, Schokville Ltd. According to  him, the exports of Chocolates to Europe from Nigeria woud bring about increase in  revenue from non-oil exports for the country as well as boost the state’s economic development. He said that the idea would be launch in London by the Niigeria High Commissioner to the United Kingdom, Amb. Sarafa Isola. He added:“The Nigeria High Commissioner to the UK is eager to launch the pro

Hopes, as Fed Govt plans to pay N247b tartifs shortfall soon

By Akinola Ajibade Hopes are in the horizon for electricity consumers, as the Federal Government has promised to pay the tarifs shortfall of N247billoon by December, this year. The shortfall in the Nigerian Electricity Supply Industry (NESI) came, following the recent  hike in tarifs by the government.  A senior official of the Power Sector Recovery Programme( DSRP)/Engr Belije Nadu, disclosed this during a one-way workshop for the media, recently. The Nigerian Electricity Regulatory Commission ( NERC) organised the workshop in conjunction with the Nigerian Electricity Supply Programmes(NESP) secretariat. He noted that efforts have been made since 2005 to endure incremental recovery and growth of the country's power sector, adding that the development was delayed by inability of the government,  to put in place a concrete financing modek in the industry. According to him, the long years of experimention in the sector is over, due to the fact that the regulator was able

Works Ministry, Three Others Shut Down Over Payment Defaults

By Akinola Ajibade The Federal Ministry of Works, Federal Character Commission ( FCC), Merit House Maitama and Murg Plaza are under lock and keys, following their inability to pay N10billion  waste debts owed the Abuja Environmental Protection Board (AFPB). The Institutions were shut down by the Federal Capital Territory Administration ( FCTA), which has overall control over the Board. The Managing Director of the Board,  Engineer Odilams Briamah revealed this to journalists recently after the exercise. He sexplained that the Board rendered waste management services to the Ministry of Power and others, adding that they refused to pay for the services given to them. He said that the board had huge amount laying without response from the defaulters. He added:“We try to negotiate to have a better way to achieve results but there was no positive response, we have given them payment plan but many of them refused to take this opportunity serious, the board then resort to legal me

Crude oil price resumes growth, hits $107 per barrel

By Akinola Ajibade Oil prices, rebounded, yesterday, from sharp losses, as they hit between $103.02 per barrel to S107.91 per barrel respectively. This happens, as concerns about tighter supplies from Russia and Libya dominated the global crude oil market, amid a drop in United States inventories last week. Brent crude futures rose 66 cents, or 0.6%, to $107.91 a barrel by while the front-month Wedt Texas Intermediate (WTI)crude futures contract, which expires on Wednesday rose 46 cents, or 0.5%, to $103.02 a barrel. The second-month contract gained 64 cents to $102.69 a barrel. Both benchmarks fell 5.2% in volatile trading on Tuesday after the International Monetary Fund (IMF) on Tuesday slashed its forecast for global growth by nearly a full percentage point, citing the economic impacts of Russia’s war in Ukraine, and warning that inflation was now a “clear and present danger” for many countries. “I believe that risks are still skewed to the upside, with the potential for

2023: Amechi runs round to confirm fitness level

     Amaechi   By Akinola Ajibade Political Asparisnts are testing the level of their fitness, with a view to determine whether they are capable enough to occupy the presidential seat- AsoRock in Abuja. This happens, as the Minister of Transportation, Rt Hon. Chibuike Rotimi Amaechi, ran round Port Harcourt Stadium recently. Speaking after the exercise Amaechi said that he ran round the stadium during his recent declaration for the topmost job. He said that he  engaged in the exercise to ascertain his physical fitness for the demanding task of leading Nigeria. Amaechi, who spoke during a visit to Ooni of Ife,Oba Adeyeye Enitan Ogunwusi, to his palace, said that he is perfectly blend for the job. He added:“Age will not be an issue. I am like a bridge between the young and the old. People have asked me why I ran round the stadium, I was checking to see how fit I am, so I had to run round the stadium to confirm to myself that I’m strong enough to carry the problems of the coun

'How govt can tackle oil theft and related practices

By Akinola Ajibade Nigeria''s problems relating to pipeline vandalism, oil theft and other untoward practices may  come to an end,, if the country employs idel well management strategy and remote well control the Chief Executive officer, Kenyon International West Africa, Mr Victor Ekpenyong, has said. He spoke concluded Oloibiri Lecture Series and Energy Forum in Abuja, recently. According to a statement signed by the firm" Public Affairs Manager, Ilechukwu Muonliyi, Ekpenyong said that oil theft is the bane of the Nigerian economy in view of the fact that the country has tried to address iit, but to avail. He noted that the issue has resulted in the loss of revenues to the Federal Government, which relies on the production and exportation of crude oil for survival.  Ekpenyoung added thst the development has also contributed to the slate of oil spillage and its attendant environmental pollution. According to him, the need to find s lasting solution to oil theft and other p

Naira devaluation caused by Crypto users'

     CBN's Godwin Emefiele LM By Akinola Ajibade The depreciation of the naira against the dollar is fuelled by the  increase in the number of crypto users, a report on crypto has said.  Currently, naira sells for between N580 to N590 to a dollar  In its report, ‘Into The Cryptoverse: Decoding The World Of Crypto Consumers,’ KuCoin, a crypto exchange with over 10 million registered users, thirty three and four hundred million Nigerians are believed to have defy the  order of the Central Bank of Nigeria,( CBN) , as they continue to trade in cryptocurrencies and related transactions  The report, which was obtained by the News Mirror, said that the decision by Nigerians to continue trading in it is affecting the value of naira and that it would further wesken vthe nation's currency, if not checked  The report  further said that  crypto population is largely dominated by 18 to 60-year-olds It said, “According to Google Trends, Nigeria was recorded as the country with the hi

Dangote Refinery will redefine domestic market, says SPE, NCDMB

By Akinola Ajibade Nigeria will become fuel sufficient as well as redefining the domestic market, once Dangote Petrochemical Refinery comes on stream this year, the Society of  Petroleum Engineers (SPE) and the Nigerian Content Development and Monitoring Board (NCDMB) have said.  They said this after  a tour of the facility in Lagos recently. Dangote Refinery has capacity to process 650,000 barrels of crude daily into  into pertoluem products, a development, which has made it the largest refining plant in Africa. According to them, Dangote Refinery Plant would help improve usage of fuel locally and beyond, secure   the future of young engineers in the country and compete favourably with counterparts globally. The Chairman, SPE,  Prof. Olalekan Olafuyi,said that the your  was necessitated by the need for members to see the reality of the massive project. He said; " Much has  been heard and written regarding the refinery. Coming here has given us the opportunity to see t

Russia-Ukraine crises; UN, AfDB to boost food supples in Africa

By Akinola Ajibade African countries would get rid of hunger and famine caused by the war in Russia and Ukraine soon,.if plans by the African Development Bank( AfDB), United Nations ( UN) and other Multilateral  Agencies  to  boost food supply in  the continent, is anything to go by.. This happens as AfDB and other Developmtal  Agencies are making plans to improve food production in Africa in order to avert the heavy toll, which the on-going  Russia-Ukraine war would have on the African continent  Russia is one of the major producers/ exporters of wheat in the world,  a development, which its. war with Ukraine has affected  A United Nations report had found that more than 70% of Africa’s economies are at severe risk from Russia’s war in Ukraine. The report said  that immediate and efficient use of all existing mechanisms to help countries directly suffering from the war and its consequences are urgently needed.  Speaking on the issue the African Development Bank

NDX launches Exchange Traded Derivative Market

By Akinola Ajibade NGX has successfully launched its Exchange Traded Derivatives, Market, with the listing of two Equity Index Futures Contracts, NGX 30 Index Futures and NGX Pension Index Futures. This milestone according to the Exchange is a critical step towards its repositioning effort to further consolidate its place, as the sustainable Exchange championing Africa’s growth. “NGX ETDs Market, the first in West Africa, is part of our efforts to build a market that is dynamic, innovative, and responsive to the growing demands of domestic and foreign investors. In specifics, the ETDs market will complement our existing asset classes, by providing investors and other market players with the necessary tools for tactical asset allocation. In addition, the market is expected to attract foreign capital flow, reduce the cost of capital and deepen the market”, said NGX Limited. “The Exchange kicked off the Derivatives project in 2015 following a market-wide feasibility study concluded in 201

Easter: EKEDC promises adequate supply of electricity

 By Akinola Ajibade  EKO Electricity Distribution Company, EKEDC, has assured Nigerians of a regular and unimpeded delivery of electricity during the Easter celebration. The firm said that the period is significant globally in view of the fact people, especially Christians gather together  to commemorate the  death and resurrection of Jesus Christ, adding that it would make the festival. a hitch-free for Nigerians. In a statement  signed by its General Manager, Corporate Communications of the Company, Godwin Idemudia,the firm said; ", “We know how essential this holiday is to our customers, hence, we are poised to ensure adequate power supply”. He said that the company is working with the custodian of transmission network, TCN, to make power available during the period, despite the challenges facing the sector. He listed the problems to include grid collapse and poor supply of electricity across the country  In celebrating the Easter holidays, Idemudia enjoined customers to make u

Eni lifts force Majeure on gas exports By Akinola Ajibade

Italian energy group Eni (ENI.MI), yesterday said that it has lifted a force majeure on gas exports from Okaka in Bayelsa state, Southsouth Nigeria.   News Mirror reports   that the force majeure, which lasted for 10 days was announced after the firm repaired a vandalised pipeline that earlier resulted in the loss of 5 million standard cubic metres per day. For the period of 10 days, the loss on the pipeline amounted to 50 million scuf, data compiled by  News Mirror  showed. Eni declared force majeure on April 6 after the Ogboinbiri to Obiafu/Obrikom gas line operated by local unit Nigerian Agip Oil Company was damaged by a hacksaw cut, resulting in the loss of 5 million standard cubic metres per day. A spokesman for Eni said in a statement that operations had been fully restored this week. Disruptions to oil and gas production are common in the oil-rich Niger Delta region, where pipelines are often vandalised and crude stolen for illegal refining. 

US approves $997m weapons for Nigeria By Akinola Ajibade

Plans by Nigeria to bouy  its security system  and subsequently ward off attacks, possibly from herdsmen, Boko Haram and other insurgent groups may have been materialised, following the decision by the United States of America to sell  weapons to her.  This happens as U.S approved the sale of military weapons worth an estimated $997 million to Nigeria. This was confirmed recently by the United States Department of Defence. The weapons include 12 attack helicopters, 2,000 advanced precision kill weapon system guidance sections and night vision imaging system. The approval comes after months of back on forth on the matter, with the US initially denying Nigeria’s request over human rights concerns. The US said the sale of the weapons is part of efforts to “equip Nigeria to contribute to shared security objectives, promote regional stability and build interoperability with the US and other Western partners”. Recall that the Federal Government has in the past few years been looking up to US

AKK Pipeline Project Ready First Quarter 2023

By Akinola Ajibade The Group Managing Director ( GMD/ Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPC) Mallam Mele Kolo Kyari, has said that the first  quarter of 2023 target set for the completion of Ajaokuta-Kaduna-Kano(AKK) pipeline is sacrosanct. He said this, recently, while leading the Board Members of the Company on an official tour of Segment A sites in Abaji Area Council of the FCT, on Thursday. Kyari, who was accompanied by other members of his Management Team, stated that as a result of activities around the AKK project, the country will see over eight billion standard cubic feet (scf) of gas injected into the domestic pipeline which will improve power generation, facilitate industrial development, create thousands of job opportunities and deepen domestic gas utilisation. Kyari, who described the Ajaokuta-Kaduna-Kano Pipeline as “a signature project of his  administration”, said that it was time for Nigeria to take advantage of having t

Nigeria needs me solve its problems, says Tinubu

By Akinola Ajibade   National Leader, All Progressive Congress, (APC) ,Asiwaju Bola Ahmed Tinubu has said that Nigeria needs him to tackle it's multifarious 0roblems.  He said this during a one-day forum organised by the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, for serving Speakers and the former Speakers and deputies in Ikeja GRA. The occasion was graced by 13 serving speakers from APC governed States.  Speaking on the theme:'' The Legislature, changing times and Nigeria’s democratic journey”. Tinubu noted that he was the first state governor to grant autonomy to the House. He said “We have the brilliance, the resources and the focus. We do not just know how to run the race and take care of the gear of progress. Just as I need Nigeria, Nigeria needs me. Nigeria needs drastic courageous changes that will bring revenue and I am that courageous one it needs. I was raised to be courageous and this has been working for me. I want to bring same to bear as p

FEC approves 1.4b for transmission equipment

Minister of power, Abubakar Aliyu By Akinola Ajibade The Federal Government has  approved N1.4 billion for the supply of more equipment for the Transmission Company of Nigeria (TCN) to boost electricity supply across the country. This follows the collapse of the national grid, which threw the country into darkness for the fourth time in recent times  News Mirror re ports that the development came  four days after the April 9 collapse of the electricity transmission system also known as national grid, operated by the TCN. the collapse was the third time in 24 days, and the fourth collapse in the year 2022. The Minister of Power, Mr. Abubakar Aliyu, made the approval known when he briefed State House Correspondents on the outcome of the meeting of the Federal Executive Council ( FEC,) presided by President Muhammadu Buhari on Wednesday in Abuja. He said: “I presented two memos from the ministry of power for the Transmission Company of Nigeria. “The first one was a variation o

SPDC opens animation centre, valued at N100m

  By Akinola Ajibade The  Shell Petroleum Development Company of Nigeria Limited has opened an animation academy in the Niger Delta region.  The project, which cost  N100 mill ion to execute,, aimed at  providing pr actical training for youths on 3D and visual effects . Executed in partnership with a non-govermentsl organisation, Foundation for Multimedia Creativity and Innovations(FMCI), the project would help in promoting knowledge and skills of youths in the region, as well as preparing then for a better tomorrow.  The academy was opened in Port Harcourt, Rivers State, by SPDC, an operator SPDC joint venture in the country  “The academy, SPDC in a statement signed by its Director and . Country's Head, Corporate Communication, Igo Weli is primed to support in closing identified gaps in knowledge and skills that will enable Niger Delta youths to participate fully in the new opportunities that are now available in digital technology,.  Quoting Weli who spoke at the  ina