Britain will become the first G7 country to end coal-fired power production on Monday with the closure of its last plant, Uniper’s Ratcliffe-on-Soar in England’s Midlands. It will end over 140 years of coal power in Britain. In 2015 Britain announced plans to close coal plants within the next decade as part of wider measures …read more →
News & Reports
FG to Increase Investments in New Technologies, Alternative Fuels for Better Shipping Operations – Oyetola
The Minister for Marine and Blue Economy, Adegboyega Oyetola, CON, has assured that the Federal Government will increase investments in new technologies and alternative fuels to ensure safe shipping operations in the country. Oyetola, who was represented by the Ministry’s Permanent Secretary, Mr. Oloruntola Olufemi, spoke during the celebration of World Maritime Day (WMD) 2024 …read more →
Sanwo-Olu Inaugurates Agboyi-Ketu’s Twin Housing Projects
Agboyi-Ketu Local Council Development Area (LCDA) of Lagos State came alive on Friday, as Governor Babajide Sanwo-Olu inaugurated a twin housing project in the council. The Governor formally commissioned 170-unit Raymond Estate and Sterling Heights delivered by the council chairman, Hon. Dele Oshinowo, to regenerate and urbanise Ajelogo — a notorious slum situated in the heart of …read more →
Regfyl Raises $1.1 Million to Expand Unified Compliance Platform Across Africa
Nigerian startup Regfyl has raised $1.1 million in pre-seed funding, to enhance its platform aimed at simplifying compliance for businesses. This funding round, led by Rally Cap alongside contributions from Techstars, DCG, Musha Ventures, Africa Fintech Collective, and angel investors, will allow the company to expand its workforce, particularly in sales, engineering, and customer support. Additionally, …read more →
Access Holdings Grows Revenue to ₦2.2 Trillion in H1 2024
Access Holdings Plc, a leading global financial institution, announced its half-year audited financial results for the period ended 30 June 2024. The results underscore the company’s continued resilience, focus on delivering sustainable performance, and commitment to creating long-term value for shareholders. Access Holdings Plc demonstrated strong performance across all key balance sheet indicators and maintained …read more →
NERC Orders DisCos to Procure 398MW Embedded Power
The Nigerian Electricity Regulatory Commission has mandated electricity Distribution Companies to procure a minimum of 398MW of embedded generation to enhance the reliability of power supply across the country. Embedded generation (also known as distributed generation or distributed energy resources) refers to electricity generation or storage plants connected to a distribution network rather than the …read more →
NNPC Ltd/Chevron JV Concludes Conversion of Assets into PIA Terms
…As Partners Eye JV’s 165,000 bopd Oil Production Target by Dec 2024 In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its …read more →
FG Plans To Spend $800m On Construction of Power Substations, Distribution Lines
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 →
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 →