The National Council on Privatisation (NCP), chaired by Vice President Yemi Osinbajo, has received an update on the takeover of four electricity Distribution Companies (DisCos). Osinbajo’s Spokesman, Laolu Akande, in a statement on Sunday in Abuja, said the Vice President…
The Commandant, Nigeria Security and Civil Defence Corps (NSCDC) in Cross River, Mr Samuel Fadeyi, said the Command has confiscated 16,000 litres of stolen petroleum products. The stolen products which were mainly Automotive Gas Oil, (AGO) popularly known as diesel…
Vice President Yemi Osinbajo (SAN) disclosed in his remarks delivered virtually on Friday at the inauguration of a board for the Nigeria Electricity Liability Management Company (NELMCO) that the Federal Government has started making moves to resolve tariff shortfalls in…
…Says subsidy is impacting heavily on govt’s revenue By Uthman Salami BudgIT has charged the Federal Government to ensure the transparent implementation of the Petroleum Industry Act (PIA) and conduct the entity’s operations in line with its mandate. It further…
The Federal Government has sealed a deal for the establishment of a transformer production plant in the country. Under the deal the China Great Wall Industry Corporation (CGWIC), an energy-saving and environmental protection services company will partner with the National…
The House of Representatives Committee on Finance has expressed concern over some of the treaties signed by Nigerian Bulk Electricity Trading (NBET) with some investors on power generation in the country. The Chairman of the committee, Rep. James Faleke (APC-Lagos…
The National Bureau of Statistics says on a year- on-year basis, the average retail price per litre of household kerosene increased by 98.76 per cent in July 2022. This is according to the NBS National Household Kerosene Price Watch for…
Crude oil prices resumed their climb on Thursday, reclaiming some of the ground lost over the last month. The WTI benchmark was trading at $91.09, a 3.38% gain on the day. WTI prices are still down from the $100+ barrel…
The restructuring and forceful take-over of the Benin Electricity Distribution Company (BEDC) Plc has led to a monthly loss of N750 million. This was disclosed in a press briefing by Mrs Funke Osibudu, the Managing Director of BEDC, in Benin…
A very large crude carrier (VLCC) named Heroic Idun has been detained by the navy in Equatorial Guinea following a dispute with Nigerian authorities. The 300,000 deadweight tonnage carrier got into a dispute with Nigerian authorities last week and was…
