The Federal Government is planning more investment in the distribution segment of the power sector. This investment will be in the region of $ 800 million. The Minister of Power, Adebayo Adelabu, disclosed this in far-away China when he visited TBEA Southern Power Transmission and Distribution Industry in Beijing, China. The projects which come under …read more →
News & Reports
Bidders for Warri, Kaduna Refineries must be Debt-free – NNPC
The Nigerian National Petroleum Company Limited has set stringent financial requirements for companies vying to operate and maintain the Warri Refining and Petrochemical Company and Kaduna Refining and Petrochemical Company. In the Expression of Interest document released by NNPC on Saturday, only firms with a minimum average annual turnover of $2bn will qualify for the …read more →
NNPC Commences LNG Supply to Japan, China
The Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced the shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on a Delivered Ex-Ship (DES) basis in line with its strategic vision to be a dynamic and reliable global energy supplier of choice. NNPC Ltd achieved the milestone through the collaboration of two …read more →
AFC to Support Africa’s Largest Methanol Plant in Akwa Ibom
Africa Finance Corporation (AFC) the continent’s leading infrastructure solutions provider, is arranging a project development facility to support Africa’s largest gas-to-methanol plant, to significantly reduce CO2 emissions by offsetting flaring of natural gas and turning it instead into a valuable chemical for solvents, paints, plastics and car parts. AFC has committed to the development stage …read more →
Nigeria Criminalizes Willful Damage of Critical Infrastructure
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, announced on Wednesday the release of an official gazette titled “Designation and Protection of Critical National Information Infrastructure Order, 2024,” aimed at safeguarding the country’s key technological assets. Tijani, in a statement on his X platform, expressed gratitude to President Bola Ahmed Tinubu for approving …read more →
Governor AbdulRazaq’s Investments in Infrastructure Boost Kwara’s Economic Growth
Kwara State has been rated among the top 10 states in the country with improved Internally Generated Revenue (IGR), according to a recent report by the Joint Tax Board (JTB). In the report shared by the Joint Tax Board (JTB) at its 155th meeting at Zuma Rock Resort, Suleja, Niger State, Kwara moved from the …read more →
Oando Secures $783M Acquisition of Eni’s Nigerian Agip Oil
Oando Plc has finalized the acquisition of Nigerian Agip Oil Company (NAOC), a subsidiary of Italian energy giant Eni, for a deal valued at $783 million. The company announced on Thursday through a statement issued by its Chief Compliance Officer and Company Secretary, Ayotola Jagun. With this acquisition, Oando, a prominent energy solutions provider listed …read more →
Africa’s Top Investment Destinations by RMB Report
RMB has released the highly anticipated 2024 edition of its Where to Invest in Africa report, a comprehensive analysis of the top investment destinations on the continent. The report, which has been developed in collaboration with the Gordon Institute of Business Science (GIBS), leverages a robust methodology that has been updated to reflect new data sources, taking …read more →
Google Unveils AI Smartphones with New Features to Beat Competition
Alphabet’s Google has unveiled its latest lineup of Pixel smartphones, showcasing deeper integrations of its artificial intelligence (AI) technology as the company accelerates its push to embed AI into consumer hardware. The event, held at Alphabet’s Bay View campus in Mountain View, California, deviates from Google’s tradition of announcing new Pixel versions in the fall. This earlier timing marks Google’s …read more →
Tinubu Directs NNPC to Sell Crude to Dangote Refinery in Naira
President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira. The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle on Monday. Onanuga stated that the move, which is …read more →