Skip to main content

Posts

FG- Imo: :Regulatory Oversight of The State Electricity Market Is Now Underr ISERC

By Favour Ifeoluwa & Akinola Ajibade  The Federal Government yesterday( Monday) announced the transfer of Regulatory Oversight of the Electricity Market in Imo State to the state electricity regulatory commission, otherwise known as (ISERC). In a statement issued by the Nigerian Electricity Regulatory Common( NERC), the development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), reiterating that all transfers envisaged by this order shall be completed by 31 December 2024. According to the Commission,the transfer Order’s provisions include: “Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC, and that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the in

Germany- Nigeria: We commit injustice by stealing your antiquities

 A display of Benin Bronze at London's Museum  By Akinola Ajibade The Minister of State for Culture, the Federal Republic of Germany, Claudia Roth says her country has committed gross injustice by taking Nigeia's artefacts away several years ago.. She said  that Germany has closed her eyes on the issue for too long, by refusing to release bronze and other historical works to Nigeria, adding that her country is making history today by returning them. She stated that every nation has the the right to experience her heritage from generation to generation, a development, which according to her made Germany to return traditional and historical works to Nigeria. She spoke in Abuja during the official handover of 22 repatriated Benin Bronzes by Germany to Nigeria recently. According to her, the issue of returning the artefacts to Nigeria marks this first phase of projects, stressing other phases would follow soon as the German authorities still have the rights to displace

CBN rolls out security features for new notes

Redesigned naira notes By Favour Ajibade The Central Bank of Nigeria (CBN) has released security features in the redesigned naira notes, in order to prevent users( Nigerians) from falling victims of using fake currency for transactions. This happens, as the news of new fake naira notes is rife in the country, with traders rejecting N200 and N500 units on allegations they have been counterfeited.  The apex bank, it was gathered, has marked out security features and peculiarities that distinctively differentiate the new naira notes and make them inviolable to counterfeiting. The security features, New Mirror gathered, included, at least, 23 features on the N1,000 note, 15 features on the N500 note and 10 features on the N200 note. Explaining the features to Nigerians,  CBN's Governor, Godwin Emiefiele, advised Nigerians to look out for intaglio raised print, portrait watermark, officially variable ink that changes from blue to green with change in angle of view, kinegram

'2023 will usher in robust oil industry, says independent producers

Pix depicting Nigeria's energy sector Favour Ajibade The Independent Petroleum Producers Group (IPPG),has said that Nigeria will experience positive changes across its  oil and gas value chain in  2023. Its Chairman, Mr. Abdulrazaq Isa, gave this predictions during the Group’s 2022 Annual Dinner in Eko Hotel and Suites, Lagos.  He said that the tangible effects of the Petroleum Industry Act  implementation, conclusion of this International Oil Companies IOC's divestment phase and the emerging dominance of the indigenous players across onshore and shallow water space; implementation of the decade of gas policy; and the expected deregulation of the downstream sector, will all jointly set the tone and direction for Nigeria’s oil and gas industry in the years to come. According to him, the group has an important role to play going forward and as such are best placed to ensure the optimal development of Nigeria’s hydrocarbon resources as its members have demonstrated fin

DSS to Emiefele: We are not arresting you

Emefiele  The Department of State Services (DSS) says it has no intention to arrest Mr Godwin Emiefiele, Governor, Central Bank of Nigeria (CBN). DSS, in a statement to the media and signed yesterday (Monday),  by its public relations officer, Peter Afunaya said that that there is no iota of truth in the planned arrest of  the CBN Governor,  adding that it would not hesitate to arrest anybody, found disseminating such information in the country. According to him, DSS  will continue to remain focused and disseminate actionable intelligence to the relevant authorities devoid of any sentiment. The statement reads: “The Department of State Services (DSS) wishes to clarify that one of its roles is the investigation of matters of national security dimension. It has always discharged this responsibility in the overall interest of Nigerian citizens. As such, the Service will continue to disseminate actionable intelligence to the relevant authorities devoid of any sentiment. “While

South Sudan President, Mayardit wets his pants in public, kills journalists

(L) Mayardit singing national anthem (R) Observing drops of urine beneath his legs  Journalists were on the run in order to save themselves from death, following the decision of the South Sudan's President, Salva Kirr Mayardit  to wet his pants in public recently. Mayardit on Tuesday, wetted his pants in public, while commissioning a road project in his country. Mayardit, 71, was seen in a viral video peeing to the shame of dignatries, including military chiefs and other top government officials. The event, which according to the country's men and women was a disgrace, has resulted in the death of some journalists, who covered the event, while others have been declared missing.

LPG Retailers -Fed Govt: Come out with policy on gas cylinders

By Favour Ajibade The Federal Government should  incorporate policy on sub standard cooking gas cylinders into its LPG development plan in order to provide socio-economic growth, the Liquidfied Petroleum Gas Retailers (LPGAR) has said.  The body, which is a branch of the National Union of Petroleum and Natural Gas (NUPENG), said  such policy would ensure that only standard cylinders were in circulation in the country, as well as preventing disasters ssociated with the use of substandard cylinders. Chika Umudu, the Branch National Chairman of LPGAR, made the remarks in a statement in Lagos yesterday ( Sunday) against the backdrop of rampant cases of substandard gas cylinders in circulation, which led to several mishaps. Umudu said the policy should encourage massive importation and production of standard cylinders. He said, “what importers do nowadays is to import what in my estimation are substandard cylinders which are affordable by average end-users. “The issue of substan

Seplat grows economy with 22 new entrepreneurs

  Seplat'Chief Executive Officer, Roger Brown  Seplat Energy Plc, in partnership with Conversations for Change (C4C) has empowered  22 new entrepreneurs from the duo’s Youth Entrepreneurship Programme.  Hitherto, the leading energy firm with listing into exchanges, has in line with its commitments to help  develop economy has invested on businesses in the country. Seplat is listed in both London and Nigerian Stock Exchanges. The event had the entrepreneurs unveil their business plans following the 2022 C4C Global Entrepreneurship Fellowship Programme, and was held at the Lux Terra Leadership and Training Centre, Abuja. The entrepreneurs and their area of businesses are: Oluyemi Oyinleye (Café business); Pauline Musa     (Catering); Maryam Musa (Spices); Mary Oteikwu (Fish drying); Justin Agbo (Fashion); Joseph Agu (Fashion); Chizoba Okolo (Fashion/fabric sales); Adebola Olamide Greatness (Fashion); Regina Etuka (Fashion); Blessing Gabriel (Bag making); Princess Esther S

NDLEA intercepts 1.7m of tramadols, arrests three

Officials intercept drugs  The National Drug Law Enforcement Agency (NDLEA) has arrested three people in connection with one million seven hundred and Sixty thousand four hundred and sixty (1,760,460) pills of tramadol and other opioids hidden in indomie noodles packs and others intercepted at the Murtala Muhammed International Airport, MMIA, Ikeja Lagos as well as in Gombe state. Those arrested are  Olaleye Adeola, female freight forwarder, Akunne Chibuzor(Male) a trader at Balogun market, Lagos and Abosede Ronke( female).  While Adeola was arrested in connection with the noodles consignment, Abosede was set to convey the drugs abroad.  NFLEA's Media Director Femi Babafemi made the clarification to reporters in Abuja.  According to him, over 600,000 pills of Tramadol 225mg which came from Karachi, Pakistan in two separate shipments on Ethiopian Airlines flights were intercepted by operatives of the National Drug Law Enforcement Agency, NDLEA at the SAHCO import shed of

Metering sub sector may collapse, unless- MOMAS Boss

Pre-Paid Meters By Akinola Ajibade Nigeria's metering sub sector may collapse on account of skills deficiency, the Chief Executive officer, Momas Electrical Meters Manufacturing Company Limited (MEMMCOL), Mr Kola Balogun, has said.  He said the country may find it difficult to sustain the sub-sector, if it fails to urgently addressed the problem. Speaking during the graduation ceremony of North East Development Commission (NEDC) beneficiaries from MOMAS Metering school recently, he said that the need for Nigeria to boost local capacity in metering segment of the industry is key to its growth. News Mirror reports that no fewer than 150 youths in the North-Eastern part of the country were empowered in the partnership deal with the metering company. Balogun said:”This is why programme such as this is inevitable for virtually all the agencies.We must set aside investment for skills acquisition. If we do not train our youths, our future is not sustained.We identified thel op
THE BRAND: PLANTAIN FLOUR:  VISION:  (1) TO CREATES AND PROMOTES AN  AWARENESS PROGRAMME FOR  PLANTAIN FLOUR- A CARBOHYDRATE, WHICH  IS GRADUALLY BEING CONSUMED IN MANY PARTS OF NIGERIA, ESPECIALLY SOUTH WESTERN REGION OF THE COUNTRY.  2) TO CREATE AN UNDERSTANDING THAT PLANTATION FLOUR IS RICH IN DIETARY FIBRE, AIDS DIGESTION, PREVENT ANAEMIA, HYPERTENSION AND DIABETES, WHEN PROPERLY EATEN. 3) TO CREATE AWARENESS THAT PEOPLE, WHO ARE SUFFERING FROM THOSE AILEMENTS, CAN AS A MATTER OF URGENCY, PUT IT IN THEIR ROSTER FOR THEIR GROWTH AND FAMILIES. 3) TO CREATE AN UNDERSTANDING ThAT CAN BUY THE FOOD ITEM RELATIVE TO THEIR NEEDS, SIZES & PRICES.  NiGERIA'S PRODUCTION CAPACITY FOR PLANTAIN FLOUR The country's production capacity is put at 25,000 metric tonnes( MT) per annum, while demand is 125,000( MT metric tonnes) leaving a gap of  99,800 MT, according to a recent plantain report by the Bill and Melinda Gates Foundation States.  From the abovementioned, Nigeria has a huge un
PLANTAIN FLOUR: As the name implies, its a local foodstuff or brand, which is eating in some parts of Africa, but gradually gaining wide acceptability in many countries, due to dietary and health benefits.   Known for preventing anaemia and reducing high blood pressure, if a patient religiously abide with medical recommendations,  plantain flour is made from unripe and dry plantain grounded into powdered like form.  Similar to Amala, a local food made from peeled yam, sliced, boiled and spread under the sun for days in order to get dried and subsequently grounded into powdered like product before preparing it as food for individuals and families, it has become a close competitor with plantain flour. However, plantain flour, as a food brand, is gradually gaining acceptability and patronage in most homes in Africa, especially in the South-Western Nigeria, a place, that is proudly inhabited by the Yourubas. Despite its conservative estimate of  over 30million population, a figure which so

Shell wins best local content operator award

L-R: Chief Upstream Investment Officer, Nigerian Upstream Investment Management Services, Bala Wunti; Country Chair, Shell Companies in Nigeria and Managing Director, The Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote; Executive Vice President, Gas and Power of Nigerian National Petroleum Company Limited, Abdulkadre Ahmed; and Managing Director, Shell Nigeria Exploration and Production Company Limited, Elohor Aiboni, at the Shell stand during the opening session of the 11th Practical Nigerian Content Forum held in Uyo By Akinola Ajibade Shell Companies in Nigeria have emerged winner of the best local content operators award at the 2022 annual industry dinner and awards ceremonies in Port Harcourt, Rivers State Capital. The Petroleum Technology Association of Nigeria (PETAN) organised the awards.  At the event, the Managing Director of Shell’s deep-water business, Sh

Court sentences two to death over raping, jails others

By Akinola Ajibade Court sentences two students to death over raping,  jails others A State High Court sitting in Ilorin, Kwara state and presided over by Justice Ibrahim Yusuf yesterday,  (Tuesday) sentenced two students, Abdulazeez Ismail and Ajala Oluwatimileyin, to death for the murder of a 300-level undergraduate of the University of Ilorin, Blessing Olajide. Olajide was raped and killed by the students on June 2, 2021, at her sister’s house in the Tanke area of Ilorin, Kwara State. Justice Yusuf also sentenced another student, Oyeyemi Omogbolahan, to life improvement, while two siblings: Abdulkarim Shuaib (aka Easy) and Kareem Rasheed (Rashworld), were sentenced to three years’ imprisonment each for withdrawing money from the Guarantee Trust Bank account of the deceased a few days after she was killed. Three others: Abdullateef Abdulrahman, Daud Adebayo (Bashman) and Akande Oladoja, were discharged and acquitted by the court. Delivering judgement on 11 counts of consp

PMS: Price deregulation key to final removal of subsidy, says Adeosun

Tankers are waiting to discharge their contents Nigeria requires a vibrant process of deregulating prices of petroleum products in order to fully  eliminate subsidy regime in the country, the Major Oil Marketers Association of Nigeria ( MOMAN) Chairman, Mr Olumide Adeosun, has said. MOMAN, which is a parallel institutiion to the  Independent Petroleum  Marketers Association of Nigeria ( IPMAN), boasts of eight strong marketing firms in the nation's fuel sub-sector.  The firms include Mobil, Conoil, 11 Plc, Total Energies OVH Energy MRS and African Petroleum (AP) . Speaking yesterday, during a media workshop with the theme:  Deregulation- Understanding the Downstream Value Chain. Adeosun said the event provides an opportunity for stakeholder to address some issues that have been lingering in the industry for sometime now.  Citing lingering fuel crises in Nigeria, Adeosun, who doubles as the Chief Executive officer, Ardova Plc stated that disruptions in the energy supply

'Nigeria will spend 123.4 % of 2023 revenue on debt servicing'

By Akinola Ajibade The Federal Government will spend 123.4 per cent of its 2023 revenue to service debt, if the projection of the World Bank is anything to go by. The World biggest institution, in a presentation made by its Lead Economist for Nigeria, Alex Sienaert, said this.  In the presentation made in November titled, ‘Nigeria Public Finance Review: Fiscal Adjustment for Better and Sustainable Development Results and made available to the media, the bank projected that debt servicing would gulp 100.2 per cent of Federal Government revenue by the end of 2022. This was a decline from the earlier projection in its October Africa’s Pulse report, which is a biannual analysis of the near-term macroeconomic outlook for the region, published during the World Bank/IMF Spring and Annual Meetings in April and October. In the Africa’s Pulse report, the Washington-based bank had said that Nigeria’s debt service to revenue ratio could stand at 102.3 per cent by the end of 2022. It ha

SHELL PHOTOSTORY-2 ( LAKOWE GOLF COURSE, LAGOS

L-R: General Manager, Safety and Environment, Shell Nigeria, Elozino Olaniyan; Vice President Midstream, Henry Bristol; former Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Chike Onyejekwe; SNEPCo Managing Director, Elohor Aiboni and Shell Nigeria Vice President, Human Resources, Olukayode Ogunleye, at the Golf Kitty retreat organised for serving and retired leaders of Shell Nigeria at the Lakowe Golf Course, Lagos… recently. A cross section of serving and retired leaders of Shell Nigeria at the Shell Nigeria Golf Kitty Retreat held at Lakowe Golf Course, Lagos… recently.