Home Topics Energy
India has expressed its readiness to deepen economic ties with Nigeria towards promoting investment and trade between both countries.
It stated that while metal and agricultural commodities had recouped their losses from the COVID-19 pandemic and were expected to make modest gains in 2021, energy prices, despite some recovery, were expected to stabilise below pre-pandemic levels next year.
The European Parliament has endorsed the candidacy of Nigeria’s Ngozi Okonjo-Iweala in her quest to lead the World Trade Organisation as Director-General.
TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world. The list, now in its seventeenth year, recognises the activism, innovation, and achievement of the world’s most influential individuals. Mr Elumelu, who is one of only four Africans on the 2020 list, is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.
The Nigerian Ports Authority (NPA) says it is expecting 19 ships, laden with petroleum products, food items and other goods from Sept. 23 to Oct. 3.
The Government of Oyo State, on Tuesday, announced it has re-awarded the contract for the construction of Saki Township Road at the cost of Four Billion, Seven Hundred and Ninety-Six Million Naira (N4,796,000,000,).
The Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to review its levies on imported electricity meters to promote full local content in the production of pre-paid meters.
President Muhammadu Buhari has warned that it would be economically dangerous for Nigeria to go back to the era of fuel subsidy, citing grave financial cost and a return to the era of long fuel queues as certain results.
The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic.
A former governor of Lagos State and National Leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu, has called for a review of the country’s revenue formula, saying Amotekun security outfit in the S/West will be a pet if everyone is engaged.
Some 15 million pupils in the Islamic republic returned to class, mostly remotely, as the country continues to battle its Covid-19 outbreak, the deadliest in the Middle East with over 22,000 killed and more than 384,000 infected since the first cases were confirmed in February.
Over 40 million Nigerian farmers under the auspices of All Farmers Association of Nigeria, AFAN, Saturday, hailed Dr Akinwunmi Adesina, over re-election and subsequent inauguration as African Development Bank’s President for a second tenure.
The Nigerian National Petroleum Corporation, NNPC, yesterday, said, it has obtained a prepayment funding of circa US$1b to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company, NPDC.
An Electricity expert, Mr Mohammed Idris on Monday commended President Muhammadu Buhari for granting a one-year waiver on import levy on prepaid electricity meters.
The Northern Elders Forum (NEF) has described proposed Constitutional review by the National Assembly as a waste of resources and energy.
Nigerian energy company Lekoil Ltd needs to raise around $100 million before it can start drilling in its Ogo oilfield, its chief executive told Reuters.
This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.
South Africa’s headline consumer inflation quickened to 3.2% year-on-year in July from 2.2% in June, data from Statistics South Africa showed on Wednesday.
Russia will enhance investment cooperation with Zimbabwe and promote the African country’s socio-economic development to help it overcome the consequences of U.S. and EU sanctions, an official said on Sunday.
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with the Zamfara State Government will host Youths, Women and those with Disabilities to a Talent Hunt Programme in Fashion, Arts and Craft skills.
The Assistant Inspector General of Police (AIG) in charge of zone 5, AIG Sholla David, has sued for collaboration from residents in restoring peace and security in the zone.
The Director General of National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Dame Julie Okah–Donli, has vowed to boost the image of Nigeria as United Nations Office on Drugs and Crime (UNODC) appointed her board of Trustees of UNODC’S victim of Trafficking Trust Fund.
The Economic Community of West African States (ECOWAS) says it plans to name and shame countries who have not regarded the decisions and rulings of the Community institutions.
#EndSARS: President Buhari urges protesters to resist temptation of being used by subversive elements
President Muhammadu Buhari has again appealed to #EndSARS protesters to resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating the nation’s nascent democracy.
Hoodlums in Benin City, on Saturday, stormed the government warehouse along Medical Store Road in the Uselu, axis of the Edo State capital and looted the COVID-19 palliative items stored in the warehouse.
Manchester City were held to a 1-1 draw by West Ham United in their Premier League clash at the London Stadium on Saturday.
The South West Caucus in the House of Representatives has condemned the desecration of Oba of Lagos and other traditional rulers’ palaces as well as attacks on critical infrastructure and private investments in Lagos and other locations in the region.
Lagos titled chiefs have condemned the attack on the palace of the Oba of Lagos, Rilwan Akiolu, and stealing of his traditional staff.