The signing ceremony for the sale of Afam Power Plant for N105bn to the preferred bidder will be done by the Federal Government Thursday (today). It was gathered on Wednesday that the ceremony, which holds at the Office of the Vice President, would lead to the official sale ofRead More

The Asset Management Corporation of Nigeria (AMCON) has rejected debt settlement terms proposed by an oil firm, Pan Ocean Oil Corporation Nigeria Limited.  Pan Ocean’s lawyer, Mr. Wemimo Ogunde (SAN), told the Federal High Court in Lagos that the terms had been filed. But AMCON’s lawyer, Mr. Kunle Ogunba (SAN)Read More

A second-year student of Pharmaceutical Sciences at the University of Port Harcourt, Rivers State, Mr. Abasiekeme Edet has won One Million Naira at the 4th edition of the Nigerian Content Development and Monitoring Board, NCDMB Annual National Undergraduate Essay competition. The prize-giving ceremony was held in Yenagoa, Bayelsa State onRead More

Lekoil has restated its commitment to long-term growth following the release of its unaudited interim results for the six months ended 30, June 2020. In a statement by the company, it said within the period, the company successfully completed site survey operation on OPL 310. Otakikpo production averaged 5,676 bopdRead More

The Federal Government has released funds to power distribution companies for the mass deployment of about six million free electricity meters to power consumers nationwide. It was gathered that some senior officials of power distribution companies met with the Central Bank of Nigeria on Tuesday and funds were released forRead More

    Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), in conjunction with National Union of Petroleum and Natural Gas workers (NUPENG) yesterday issued a 7-day ultimatum to the Federal Government declaring to withdraw their services which will mean a totalRead More

The Department of Petroleum Resources, DPR received the sum of N6.66bn from the Federation Account Allocation Committee, FAAC for the month of September 2020. The Department received the allocation as cost of revenue collections for the month. The FAAC had disbursed the sum of N682.06bn to the three tiers ofRead More

Ikeja Electric Plc has commenced implementation of the revised Service Reflective Tariff, SRT as approved by the Nigerian Electricity Regulatory Commission, NERC. Implementation takes effect from November 1, 2020. The revision was further to the consultative review meetings held between the federal government, labour unions, and other stakeholders following concernsRead More

The Ibadan Electricity Distribution Company Plc (IBEDC) said it has begun the implementation of the revised service-based reflective tariff as approved by the Nigerian Electricity Regulatory Commission (NERC). The new tariff is effective from 1st November 2020. In a statement by the Head Branding and Corporate Communications, Angela Olanrewaju, theRead More

    The chairman of AMNI International Petroleum, Chief Tunde Afolabi has commended the Centre for Petroleum Information (CPI) for marking a milestone in the oil and gas industry by publishing an authoritative reference book during its 20th-anniversary event which held in Lagos recently.   The 440-page book with theRead More