Business

NEITI demands speedy action on PIGB, others

The Nigerian Extractive Industries Transparency Initiative (NEITI) has advised the National Assembly to expedite action on the passage of the Petroleum Industry Governance Bill (PIGB), the Petroleum Administration Bill and the Petroleum Fiscal Bill. NEITI said the bills, if passed into laws, would enable institutions to be more operative and  accountable. NEITI said: “The incoming […]

Business

Why DisCos can’t recapitalise, by group

The 11 power distribution companies (DisCos) cannot recapitalise due to inappropriate pricing regime in the sector, the Association of Electricity Distributors of Nigeria (ANED) Executive Director, Research and Operation, Mr Sunday Oduntan, has said. In an interview with The Nation in Lagos, he said only Edo and Ekiti state governments have criminalised energy theft, by […]

Business

Content Board, firm partner on capacity development

Nigerian Content Development and Monitoring Board (NCDMB) and Geoscape are partnering to train young graduates to boost their skills and capacity. Geoscape Head of Contracts and Assets Morenike Jupi-Igbeka told The Nation at an event in Lagos that the training is mandatory. She said Geoscape is mandated by the Nigerian Oil and Gas Industry Content […]

Business

Meters coming for consumers

THERE is hope for electricity consumers to get meters as Metering Solution Manufacturing Service Limited(MSMSL) has offered to assist other meter asset providers (MAPs). The development, follows the inability of the Meter Assets Providers(MAP) recently approved by the Federal Government to get enough meters for consumers, that were under their jurisdictions. In line with the […]

Business

Our scorecard, by NIPP

The three tiers of government, in an effort to overcome challenges in the energy sector, and ensure socio-economic development, set up the Niger Delta Power Holding Company (NDPHC). Formed in 2005, as the vehicle to implement the National Integrated Power Project (NIPP), the NDPHC was designed for the 10 gas-fired power stations in the gas-producing […]

Business

‘Nigeria’s Ghana’s mining sectors unimpressive’

Nigeria, Ghana and other countries globally are recording abysmal performance in mining and allied areas, PricewaterCoopers has said. In a report dated 2019 and made available to The Nation, the consulting firm chided Nigeria and other countries for churning out  poor performance in the mining sector in recent times. The report said 40 biggest mining […]

Business

Why wasn’t Oando given a fair hearing?

The long awaited results from the forensic audit into Oando PLC, was finally released on Friday, May 31, 2019 on the website of the Securities and Exchange Commission (SEC) indicating weighty infractions with attendant sanctions leveled against the Company. In a press statement issued on its website, Oando PLC responded to the SEC’s report saying: […]

Business

FG removes VAT on cooking gas

The removal of Value Added Tax (VAT) on liquefied petroleum gas (LPG), also called cooking gas, produced in Nigeria, has been of major concern to members of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM). Therefore, it was good news to the Association and the LPG industry, when the news filtered out that the […]

Business

‘More metering manufacturing firms coming’

Indications  have emerged that more companies are coming into the mainstream  of meter production in the country, just as meter asset providers (MAPs) will roll out meters to 4,606,106 electricity consumers soon. The idea will enable them to maintain a stronghold of the metering sub-sector, as they would be regarded as part of the indigenous […]

Business

LADOL officials, stakeholders observe safety week

Nigeria’s first indigenous industrial Free Zone, LADOL, has commenced its annual safety week. This is the first time the company has held this event to highlight the company’s safety best practices, share learnings with stakeholders and set new targets for safety in the coming years. LADOL’s Managing Director, Dr Amy Jadesimi, said: “Safety and quality […]