Business

Petroleum Ministry holds 3rd annual summit

Federal Ministry of Petroleum Resources is preparing for its 3rd Annual Nigeria Petroleum Summit (NIPS 2020). According to the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan, the countdown for the 3rd edition of the annual NIPS conference/exhibition has officially begun. The event which will take place in Abuja, has grown to become Africa’s […]

Business

Axxela emerges Midstream Company of the Year

Axxela Limited has been chosen as ‘the Midstream Company of the Year’ and its Chief Executive Officer, Bolaji Osunsanya, as the ‘Innovative CEO of The Year’ at the 2019 Nigerian Business Leadership Awards. Accepting the award, Axxela CEO, Bolaji Osunsanya, dedicated both awards to the company’s employees. He said: “These awards validate our continuous drive […]

Business

‘Shell JV, SNEPCo have paid $2b to NDDC’

The Shell Petroleum Development Company (SPDC) Joint Venture, Shell Nigeria Exploration and Production Company (SNEPCo) and its co-venture partners have contributed $2 billion to the Niger Delta Development Commission (NDDC). The Media Relations Manager, Shell Nigeria, Bamidele Odugbesan, stated this while reacting to the allegation that the oil giant was among the 50 oil firms […]

Business

MAP, Siemens pact positive interventions in power sector’

The Association of Nigerian Electricity Distributors (ANED) has praised the Federal Government and Siemen agreement and the Meter Asset Provider (MAP) programme, describing such initiatives as positive interventions in the power sector. The Executive Director, Research and Advocacy of ANED, Mr. Sunday Oduntan, stated this while fielding questions from reporters in Abuja. He reiterated commitment […]

Business

Sahara Group’s Adesida is MIPAD

Sahara Foundation’s Private Sector Engagement Specialist, Babatomiwa Adesida has been selected as one of the 2019 Most Influential People of African Descent (MIPAD) in recognition of his contribution to humanitarian work and promotion of the Sustainability Development Goals (SDGs). Sahara Foundation is the social responsibility vehicle of Sahara Group, a leading energy and infrastructure conglomerate […]

Business

Aiteo eyes 250,000 bpd oil production

Aiteo Group is negotiating an alternative financing package that would enable it fund about $5 billion investment to be able to increase its oil production to about 250 000 barrels per day (bpd).This  will also  grow gas output to about 3 million standard cubic feet per day (mmscfd) of gas. The Managing Director, Eastern Exploration […]

Business

NEITI, Auditor-General partner on data sharing

The Nigeria Extractive Industries Transparency Initiative (NEITI) has pledged to work closely with the Office of the Auditor General of the Federation to promote integrity in data collation, validation and management on revenues from extractive industries. The Executive Secretary of NEITI, Mr. Waziri Adio, gave the assurance in Abuja while receiving the Auditor-General of the […]

Business

‘Skills development’ll drive local content in oil, gas sector’

Investing in training facilities, Research and Development (R&D) will help enhance the capacity of indigenous operators in the oil and gas industry thereby deepening the local content initiative, the Executive Director, Lagos Deep Offshore Logistics Base (LADOL), Mr Jide Jadesimi, has said. He said there was the need to enhance the capacities of local businesses […]

Business

NEPAL Oil expands into aviation sector

NEPAL Oil and Gas services Limited, one of the leading indigenous companies operating in Nigeria’s downstream oil and gas industry, has ventured into the Aviation business with the introduction of its newest subsidiary, NEPAL Fly Limited. According to the company, the expansion is line with its plans to extend business operations to every part of […]

Business

Slow match to energy diversification

To improve electricity generation and supply for domestic and industrial use, Nigeria began the diversification of her energy sources through the implementation of a nuclear energy programme. But, almost two decades down the line, electricity supply has not improved. Supply hovers around 3,500 and 4,300 megawatts. Experts say this is hurting the industrialisation drive and […]