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The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

No plans to Scrap NNPC in the PIB – minister

The Federal Government on Monday said that there are no plans to Scrap the Nigerian National Petroleum Corporation, NNPC in the Petroelum Industry Bill 2020 that has been transmitted to the National Assembly by President Muhammadu Buhari.

Stakeholders advocate efficient fiscal policy for oil, gas sector

Stakeholders in the oil and gas sector have called for proactive fiscal policy in the petroleum industry to fast track investment and infrastructure development in the country.
The Nigeria Police Force says its investigation shows that Boko Haram, Ansaru and other terror groups are getting support from some Nigerians.

21 missing in Benue boat accident

The statement read in part, “On July 5, 2020, around 2.30pm, information was received that 23 members of the ECAN Church, Ijaha, Makurdi Local Government Area, boarded a boat to attend a conference across the River Benue.”
Nigerian National Petroleum Corporation (NNPC)

NNPC explains parameters for employment, career progression

The Nigerian National Petroleum Corporation (NNPC) has explained the parametres for employment as well as career progression in the corporation, using the recently concluded Graduate Trainee employment process as well as top Management promotion exercise executed by the corporation as an illustration.
South Africa’s central bank has temporarily prohibited the use of debt issued by the Land Bank as collateral after the state agricultural lender was downgraded deeper into junk status and missed $2.7 billion in loan repayments.

South Africa suspends use of Land Bank debt as collateral after default

South Africa’s central bank has temporarily prohibited the use of debt issued by the Land Bank as collateral after the state agricultural lender was downgraded deeper into junk status and missed $2.7 billion in loan repayments.
South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.

South Africa’s central bank switches back to one daily repo auction

South Africa’s central bank (SARB) said on Friday it would reduce overnight repo auctions to one per day from the two it has held since early March to inject liquidity into the banking system amid the coronavirus pandemic.
South African Airways has announced that it will continue to honour its flight obligations to cargo and evacuation flight customers all through this month.

South African Airways to continue honouring flight obligations

South African Airways has announced that it will continue to honour its flight obligations to cargo and evacuation flight customers all through this month.
South Africa’s rand firmed against the dollar early on Wednesday after President Cyril Ramaphosa announced a 500 billion rand ($26.41 billion) rescue package on Tuesday evening to cushion the economic blow of the COVID-19 pandemic.

South Africa’s net foreign reserves rise to $45.5 billion in April

Gross reserves also increased, to $53.003 in April from $52.458 billion previously. The forward position, representing the central bank’s unsettled or swap transactions, decreased to a balance of $592 million in April after a positive balance of $631 million previously.
Koeberg Nuclear Power Plant. 21 August 2010. Wikimedia Commons-Paul Scott

South Africa to develop plan for new 2,500 MW nuclear plant

South Africa will soon start developing a plan for a new 2,500 megawatt (MW) nuclear power plant, the energy ministry told lawmakers on Thursday.
Mine workers are seen under ground at the end of their shift at Cullinan mine, near Pretoria, South Africa, February 1, 2019. REUTERS-Siphiwe Sibeko-File Photo

Coronavirus lockdown pushes South African PMI to record low in April

South African private sector activity fell to a new record low in April, a business survey showed on Wednesday, as company closures due to a nationwide coronavirus lockdown led to a collapse in demand.
A man walks past a closed Toyota car dealership during the coronavirus disease (COVID-19) nationwide lockdown in Cape Town, South Africa, April 28, 2020. REUTERS-Mike Hutchings

South Africa’s auto industry ambitions threatened by coronavirus

The expansion of South Africa’s auto industry is central to the government’s economic development strategy but the coronavirus crisis has forced carmakers into survival mode and could push ambitious growth plans out of reach.
Aliko Dangote, president of the Dangote Group and chief sponsor of the Dangote Foundation, says he wants to be like Bill Gates and try to give a chunk of his wealth to charity in the next few years.

Aliko Dangote’s net worth rises to $14.8 billion in 2019

Africa’s wealthiest man, Alhaji Aliko Dangote ended 2019 with a total worth of $14.8 billion, representing an increase of $4.3 billion from the $10.3 billion recorded in 2018, according to Bloomberg’s Billionaires Index released recently.

NIRSAL facilitates N2 billion loan to boost cocoa export in Ondo

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) is providing Agro Traders Limited, a Cocoa processing and export company in Ondo State, with 50% Credit Risk Guarantee (CTG) for N2 billion working capital to export 22,000 metric tons of cocoa.

NNPC records N17.16 billion trading surplus, up 46 percent

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018.

Oando records N8.5 billion PAT in H1 2018

Oando continues to defy skeptics as the company recorded N8.5 billion profit-after-tax (PAT) in its half-year ended June 30, 2018 (H1 2018) results. The impressive result comes in the wake of increase in the price of oil and gas commodities.

Official: Nigeria’s crude helps Indonesia achieve energy sufficiency

Nigeria’s crude oil has helped Indonesia achieve energy sufficiency, the Head of Economic Affairs of the Indonesian Embassy, Dwiyatna Widinugraha, has said.

Recent Stories

Ejike Mbaka

#EndSARS: Why we can’t harm Reverend Mbaka – Enugu youths

Youths in Enugu State under the aegis of Concerned Youths of Enugu State (CYE), have given reasons why they will never contemplate attacking the Spiritual Director of Adoration Ministries, Enugu, Nigeria (AMEN), Rev. Ejike Mbaka.
”I call on President Muhammadu Buhari to take all necessary steps needed to reconnect with the Nigerian Youths and understand the pulse of the Nigerian people. #EndSARS

Group begs celebrities, politicians to prevail on protesters

A rights group has called on celebrities and politicians across the states of the federation, to prevail on youths involved in ongoing invasion of warehouses and private residences.
The Commissioner for In­formation and Strategy, Gben­ga Omotoso, while speaking on the commencement of the campaign on Thursday, said it was initiated after discovering that members of the public did not comply with the directives.

Lagos reverses decision on schools reopening

The Lagos State Government has rescinded its earlier decision giving a go ahead to private schools in the state to reopen after it relaxed the curfew occasioned by the hijacking of the #EndSARS protest by hoodlums.

Senate queries JAMB over contract scam

The Senate has queried the Joint Admission Matriculation Board (JAMB) over N7.3 billion contracts scandal.
Sequel to the collapse of a school building in Ejigbo in the early hours of Saturday, the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu has directed the Ministry of Physical Planning and Urban Development to carry out integrity tests on both public and private schools with buildings of 3 floors and above.

Schools remain shut as Lagos reviews curfew

This was announced on Twitter by Jubril Gawat, Special Assistant to Governor Babajide Sanwo-Olu on New Media.