Ayade seals deal for 10 solar plants with German firm
Prof. Ben Ayade, the Cross River State Governor, has signed a power purchase agreement (PPA) with Gesellschaft fur strategisch risikofinansierung MBH (GSR) of Germany in partnership with SIJ Global Limited for 10 photovoltaic plants in Cross River State under a…
Non-functionality of refineries worsening aviation fuel scarcity
The challenge of inadequate supply and high cost of aviation fuel may linger as the nation’s four refineries remains idle. This according to experts in the aviation sector may continue to frustrate activities in the airline business because of scarcity…
Total acquires AutoGrid, invests in smart grids
Total Energy Ventures (TEV), the venture capital arm of Multinational giant, Total, has invested in start-ups, with the acquisition of interest in AutoGrid, a company that develops digital solutions to manage and optimize energy supplied to and from the power…
Senate determined to fast-track passage of PIB, NP&H, other bills
The Senate has expressed readiness to fast-track the passage of the Petroleum Industry Bill, PIB, and other bills capable of contributing to the quick recovery of the national economy from recession, and provides a level playing environment for both local…
Reps revisit controversial $1.1bn Malabu oil deal
An ad hoc committee of the House of Representatives on Wednesday reopened investigation into the controversial $1.1bn award of Oil Prospecting Licence 245, better known as ‘Malabu Oil Deal.’ Lawmakers said Nigeria could not afford to lose an equivalent of…
Petroleum sector to get $70bn investment from China – Minister
The Minister of State for Petroleum, Dr Ibe Kachikwu, yesterday revealed that Chinese private sector companies had pledged an additional investment of $70bn to the Nigerian economy. Kachikwu said this while addressing State House correspondents on the outcome of the…
Release approved N30bn for Prepaid Electricity Meters, CRADO tells PMB
The leadership of Consumer Rights Advancement Organisation (CRADO) has appealed to President Muhammadu Buhari to release the N30bn given to Nigerians by former President Goodluck Jonathan allegedly kept in Skye bank for the delivery of prepaid meters for electricity consumers…
FG fingers Shell in crude oil theft, demands $406 million
Less than one week after the federal government sued two international oil giants, Total and Chevron over under-declaration in crude exports for some years, it is now demanding $406.75 million minimum from Shell Petroleum Development Company of Nigeria Limited and…
I’m Not Interested In NLNG, Other National Assets—Dangote
Finally, the President/Chief Executive of Dangote Group, Alhaji Aliko Dangote, has said his advocacy for the sale of the assets was never self-serving, stressing that “he was not interested in any of the assets”. Before now, there has been massive…
General Electric to invest N46bn in Nigeria next year—Report
General Electric, a United States’ electrical industrial firm, on Monday announced its plans to invest about $150m (N45.8bn) in Nigeria next year. The group said on its website that “There are development projects where we are investing,” the Chief Executive…
