Skip to main content

Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
Post a Comment

Fed Govt's mega transformers arrive September

By Akinola Ajibade

The Federal Government will take delivery of the first batch of the mega transformer  ordered under President Muhammadu Buhari’s Presidential Power Initiative (PPI) in September, this year.

The equipment, coming from Italy, would arrive 
 Nigeria would arrive the country in the next two months.

Already,the transformers successfully undergone factory acceptance test at Siemens’ transformers factory in Trento Italy.

The managing director of Federal Government of Nigeria Power Company (FGN-Power) Mr. Kenny Anuwe who lead a delegation that includes engineers from Transmission Company of Nigeria (TCN) witnessed the factory acceptance test conducted on 28 July 2022 in Trento Italy. The factory acceptance test paves the way for Siemens Energy to start delivering the transformers to Nigeria.

The development came after the Minister of Power Engr. Abubakar D. Aliyu led a delegation to Germany in April, where he paid visits to Siemens Energy factories in Berlin and Frankfurt, and held meetings with the senior leadership of Siemens Energy on the need to fast-track the delivery of the early orders that will kick start the transformation of Nigeria’s electricity.

“The successful factory acceptance test shows Nigeria’s engagement with Siemens Energy is on track. It also shows federal government’s commitment to addressing Nigeria’s electricity challenges,” said the minister.

In December 2021, the Minister of Finance Zainab Ahmed and the Minister of Power Engr. Abubakar D. Aliyu secured the approval of the Federal Executive Council of €63 million (Euro) for the procurement of equipment to boost power supply under the Presidential Power Initiative (PPI) — whose first phase will provide 10 mobile power sub-stations and 10 mega transformers that will be deployed across the country to boost and stabilize electricity supply.

In 2018 President Muhammadu Buhari initiated the Presidential Power Initiative (PPI) that will enable Siemens Energy to upgrade Nigeria’s electricity systems. The first phase of the PPI seeks to modernize, rehabilitate and expand the national grid by investing in the electricity value chain, including generation, transmission and distribution systems.


Comments

Post a Comment

Popular posts from this blog

HAPPY 70 TO ELDER ADE ADEDAMOLA OGIDAN

PLATINUM BIRTHDAY ANNIVERSARY OF ELDER ADE ADEDAMOLA OGIDAN, A FOREMOST JOURNALIST & EDITOR By Favour Ifeoluwa & Akinola Ajibade Like a new born child, beaming with smiles for coming out of his mother's womb in order to live a fulfiled life, the celebrator,Ade Ogidan fits perfectly well into this category. Simply known as AAO, a shorten form of Ade Adedamola Ogidan, the thorough based journalist is without doubt, a  well grounded newsman.. With Bachelor of Science ( BSC) Degree in   Sociology and Anthropology( 1976 ) from University of Nigeria, Nsukka,  Ogidan has cut his teeth well in Journalism. Prior to this, he  taught in Osogbo Grammar School and worked at the Nigerian Communication respectively  after his youth service, a development, which no doubt prepared  him well for journalism profession and other future engagements. Pragmatic, resilient and outspoken, where it matters, Ogidan ensured  that his tenure as the first C...
1 comment
Read more

Oil Block: Why Fed Govt Prioritises Production Bonus To Attract Local & Foreign Investors

Oil Blocks: Why FG Prioritizes Production Bonus to Attract Local and Foreign Investors By Ibrahim Musa The Federal Government has emphasized production bonus, which refers to the payment by an operator to a host country upon achievement of oil and gas production, as a strategy for attracting investors to bid for Nigeria’s oil blocks. Previously, the government relied on a high signature bonus, which refers to a single, non-recoverable lump sum payment made upfront by oil companies for their rights to develop oil blocks, as an option for maximizing revenue generation, thus discouraging investors with limited resources from bidding. Currently, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC which regulates activities in the nation’s oil and gas industry, has removed all entry barriers to attract massive investments. This strategy aims at growing oil and gas production, enhancing Nigerian Content Development, attracting Foreign Direct Investment, contributing to l...
Post a Comment
Read more

Axella Plans To Deepen Gas Utilisation in Nigeria

Axella' s Director of Business Development, Mr Franklin Imole By Favour  Ifeoluwa & Akinola Ajibade Axella's Gas Processing Plant announces Final Investment Decision ( FID) to develop a 50 MMASCF/D Gas Processing Plant, with h a view to deepen utilisation of gas  in the country. The firm, which is situated  in 0ML 56 in Delta State,  said that its making strategic investment in order to ensure that gas is available for industrial use in Nigeria. Situated in  Delta State, Southern Nigeria and billed to commence operation by the end of 2024, the facility, Axella' said, boasts of 12 MMSCF  Modular Plant with an interconnection pipeline network of about 4kilometres alongside other ancillary infrastructure. The facility, the company added, is expected to commence operation by the end of this year. Speaking on the plant ,  Axella's  Director of Business Development, Franklin Imole said: " As the Federal Government continues to pursue its...
Post a Comment
Read more