Concerned over the influx of foreign vessels on Nigeria’s waterways, the Senate joint committees on local content, downstream petroleum and legislative compliance have invited the Minister of State for Petroleum Resources, Chief, Timipre Sylva and the Minister of Transportation, Rotimi Amaechi to provide explanation on the worrisome trend.

Also, invited…

Oil prices slid down yesterday as the Covid19 pandemic and tensions arising from the US and China feud pushed investors towards what investors described as safe-haven assets.

The slide in oil prices mirrored moves in broader financial markets in Asia amid concerns about escalating tensions between the world’s two biggest…

State governors from the south east region of Nigeria have called on the federal government to include the region in the national rail and gas network. The governors who made their position know last Sunday, said they would support the federal government in the expansion programme. 

The Chairman of the…

African Development Bank has approved a $53.25 million multi-country grant to The Gambia, Liberia and Sierra Leone in the form of direct budget support to bolster efforts to fight the COVID-19 pandemic in the three West African countries.

The multi-country grant comprises an ADF grant of UA 5 million and…

India’s Reliance Industries Ltd. has shot ahead of Exxon Mobil Corp. to become the world’s largest energy company after Saudi Aramco. Bloomberg reported yesterday that lured by the Indian firm’s digital and retail forays investors are now piling into the conglomerate.

Reliance, which is controlled by Asia’s richest man and…

    …Niger, Togo, Benin owe Nigeria $81.48bn

Reports show that while many homes in Nigeria stay many months without electricity, and businesses are steadily going down due to lack of power, Nigeria has continued to play Africa’s Big Brother with a number of countries purchasing electricity power on…

Despite the widespread complaints over poor business climate, Nigerian electricity power distribution companies (DisCos) have reported that they recorded N127 billion revenue collection in the first quarter of 2020. The figure represented 10% increase compared to the performance of the sector this same time the previous year.

The Association of…

The UK Chancellor of the Exchequer’s post Covid-19 stimulus announcement earlier this month recognised that the low-carbon agenda is vital.

The two strands linked to energy efficiency, which mostly means better thermal insulation, are £1bn to improve energy efficiency of public buildings and a £2bn “green homes grant” fund, which…

Widespread agitations for review of the 2004 power sector privatization in Nigeria may have fallen on its face following the assertive declaration last weekend by the chairman of the Senate Committee on Power, Gabriel Suswan, the deed cannot be undone.

Speaking in Abuja during the committee’s oversight visit to some…

The Nigerian government has explained that the Mambilla Hydropower Plant is being delayed due to delay by the Taraba state government to provide comprehensive list of land owners and beneficiaries to be compensated over the site of the 3,050 megawatts project.

It was gathered from the top officials of the…