Oyo State Government has approved the construction of an aviation fuel facility at the Ibadan airport, at the cost of N1.2 billion. Oyo State Governor, Seyi Makinde This is contained in a statement issued by Mr Taiwo Adisa, the Chief Press Secretary to Gov. Seyi Makinde, on Thursday in Ibadan. The statement said that the facility would enable airline operators to use Ibadan as their operational base. The facility, when constructed, will also ensure that the airport serves as an immediate alternative to the Lagos airport in case of weather or other challenges. The statement said that the approval for…
Author: Temitope N.
OPEC+ is moving towards gradually adding about 2 million barrels per day (bpd) to the oil market from August to December, an OPEC+ source told Reuters as the group eases back on output curbs amid a recovering global economy and an oil price rally. Monthly increases would be 0.4 million bpd under the plan, the source said, adding that an OPEC+ ministerial committee had proposed this to the wider group. Another source said Saudi Arabia and Russia, the biggest producers in the OPEC+ alliance, had reached a preliminary agreement. Responding to oil demand destruction caused by the COVID-19 crisis, OPEC+…
The minister of state for petroleum resources, Timipre Sylva, says the federal government’s decision to acquire equity in private refineries is to prevent fuel scarcity. He said this on Thursday in Abuja while receiving an award from a group called “Corruption Reporter.” The group said the award was conferred on him for his achievements in fighting corruption and the pursuit of transparency and accountability in the petroleum industry. On Tuesday, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), confirmed that the federal government would acquire a 20 percent equity stake in the Dangote Refinery. The corporation…
The National Agency for Food and Drug Administration and Control has warned Nigerians against consuming Pure Tassie organic apple and blackcurrant imported from Australia, noting that it contains patulin, a dangerous toxin. The agency noted that the products are certified harmful for human consumption. The Director-General of NAFDAC, Prof. Mojisola Adeyeye, disclosed this on Tuesday, noting that the “Centre for Food Safety of Hong Kong’s Food and Environmental Hygiene Department warned against the consumption of Pure Tassie Organic Apple and Blackcurrant juice originating from Australia. “This was due to an unacceptable level of patulin (a mycotoxin) which had exceeded the…
The House of Representatives has urged the Federal Government, through the Ministry of Health, to eradicate fake and substandard foods and drinks in Nigeria. According to the lawmakers, the current security crisis in the country is linked to the widespread circulation and use of fake drugs and unwholesome drinks. The call by the lawmakers was based on a motion moved by a member, Henry Nwawuba, which the House unanimously adopted at the plenary on Wednesday. The motion was titled ‘Need to Stop the Production and Circulation of Unwholesome Drinks and Fake Drugs in Nigeria.’ The House, following the adoption, urged…
The Kaduna State Emergency Management Agency on Wednesday decried rise in open defecation in some communities across the state. Abubakar Hassan, Executive Secretary, KADSEMA, told the News Agency of Nigeria that the level of open defecation in some communities was worrisome. He said the environment was faced with health challenges due to the high level of open defecation around flood-prone communities, thereby exposing residents to diseases. “We have a serious health situation in our hands, you can see excreta everywhere close to wells, streams and with children playing inside,” he said. Hassan stressed the need to sensitise communities of the…
The amount spent on subsidising electricity every month in Nigeria is now about N30bn, the Federal Government has said. It disclosed that the government’s subsidy on electricity had been reduced by N20bn monthly following improvements in the collection of power tariffs by distribution companies. The government stated this in a document on the progress and overview of Nigeria’s power sector. The document was obtained by our correspondent from the Federal Ministry of Power in Abuja. In February this year, the Minister of Power, Sale Mamman, stated that the Federal Government was subsidising electricity supply across the country to the tune…
Qatar Airways says it has increased its service to Lagos, Nigeria’s commercial hub, to two daily flights starting from July 1, 2021. The airline made the announcement in a statement on Friday. The development, which the airline attributed to its “response to high demand”, will be operated through the Boeing 787 Dreamliner featuring 22 seats in business class and 232 seats in economy class. “This frequency increase will offer passengers even more flexibility to travel on board with the highest standards of hygiene measures and to enjoy a seamless travel experience on board at Hamad International Airport,” the statement reads.…
The federal government has acquired two mobile air traffic control (MATC) towers worth N1.7 billion as a measure to enhance flight safety. Hadi Sirika, minister of aviation, recently inaugurated the mobile towers at the Lagos airport. Mobile towers can be used for smaller airports, military deployments, airport visual control room (VCR) refurbishments, disaster relief or special events. Sirika said the equipment would be deployed by the Nigerian Airspace Management Agency (NAMA) to the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport (NAIA), Abuja. He also said it would be deployed to any other airport where they…
Hundred of passengers on Abuja/Kaduna train are currently stranded in Dutse, Kaduna, as the train developed faults few minutes into the journey. Newsmen report that five minutes after the train departed the Rigasa Station in Kaduna, it developed a mechanical fault. Twice, the train stopped before getting to Dutse, where it finally broke down. Midat Joseph, an Assistant National Secretary of the Nigeria Union of Journalists (NUJ), who is one of the passengers, said the train developed fault around 7:am. “ I left my house as early as 5:am to join the 6:40am train but unfortunately I have been trapped…
The Nigerian Exchange (NGX) Limited last week listed Guaranty Trust Holding Company Plc (GT HoldCo) after delisting Guaranty Trust Bank Plc. The entire 29,431,179,224 issued shares of GTB were delisted while GT Holdco’s entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each were listed on the bourse. The NGX had penultimate week suspended trading in the shares of GTBank in preparation for the delisting and listing of GTHoldCo pursuant to the Scheme of Arrangement between the bank and its shareholders. In November 2020, Guaranty Trust Bank (GTBank) had notified NGX that it had obtained regulatory approval-in-principle (AIP)…
The federal government says the Central Bank of Nigeria (CBN) will provide N60 billion for the first phase of its national mass metering programme. This is contained in a document which highlights some of the achievements of President Muhammadu Buhari’s administration in six years. The fund will be provided for the supply of one million electricity meters meant for free distribution to unmetered power users across the country. There has been a nationwide rollout of electricity meters to all on-grid consumers, as this was inaugurated in August 2020, with funding provided by the CBN. “The CBN is providing N60bn for…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is neither planning to go on strike nor planning to shut fuel stations nationwide, its National President, Sanusi Fari, said on Monday. In a statement issued in Awka and signed by the association’s National Secretary, Chidi Nnubia, he said that the public should dismiss any information regarding the planned strike. The association’s National Public Relation Officer, Yakubu Suleiman, had threatened in Abuja on Monday that IPMAN would go on strike and shut fuel stations nationwide beginning from Tuesday because the police laid siege on its secretariat. Suleiman alleged that some police officers…
The Central Bank of Nigeria (CBN) has reassured Nigerians that the financial system of the country is safe, sound and in line with the best possible financial practices. The reassurance was made by the Governor of the CBN, Godwin Emefile, while speaking at a 2-day CBN Fair with the ‘theme: ‘Promoting Financial Stability and Economic Development’ held in Bauchi and Gombe simultaneously on Monday. The CBN Governor added that the apex bank is ever ready to listen to the people of Nigeria in order to know how best to serve them with the aim of improving the financial base of…
The Edo Refinery and Petrochemical Company in Ologbo, Edo State, will commence operation in August, Governor Godwin Obaseki has disclosed. The governor made the announcement after a tour of the refinery located at Ikpoba-Okha Local Government Area. Speaking with reporters, Governor Obaseki expressed satisfaction that work on the plant has moved to such at a great speed in spite of disruptions caused by the COVID-19 pandemic. He said the pre-commissioning with the Department of Petroleum Resources (DPR) had been done and the plant certified okay, adding that what is left is to finalize the crude sales contract…
Vice President Yemi Osinbajo has said that funding for gas and fossil fuel projects in Nigeria and other developing countries will be sustained during the global transition to net-zero emissions, and that Nigeria will continue its frontline advocacy for a just transition. This, according to a statement by Laolu Akande, the Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, was the highlight of a virtual meeting on the subject he presided over on Thursday. Other top federal government officials in attendance included the Ministers of Environment, Dr. Mohammad Mahmood Abubakar; Foreign Affairs,…
President Muhammadu Buhari, at the weekend, approved the appointment of a Chairman, and an Executive Secretary/Chief Executive Officer for the Petroleum Product Pricing Regulatory Agency (PPPRA). The Board Chairman is Mr Atuonwo A. Obinna, while the Executive Secretary and CEO is Mr Abdulkadir Saidu, whose appointment was renewed for another four years. According to the Presidential Spokesman, Femi Adesina, the appointment of Mr Atuonwo Obinna as Chairman Governing Board for a four-year term is in accordance with Section 2 (1-3) and 3 (a) of the Petroleum Product Pricing Regulatory Agency (Establishment, ETC) Act 2003. Also, the renewed appointment…
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says that government will support artisanal refiners that are lawful in their operations. The Minister disclosed this in Abuja on Sunday when he featured at a Forum of the News Agency of Nigeria (NAN). He said that government had been supporting building of modular refineries to help boost local production and equally reduce the impact of oil exploration on the environment. He said that the illegal operations of artisanal refiners had made it impossible for government to support such ventures. “You see, when they talk about artisanal refineries, well,…
Minister of State for Petroleum, Chief Timipre Sylva, has said that the country accidentally discovered 206 trillion cubic feet of gas reserves while in search of crude oil. Sylva, who disclosed this in Abuja at a News Agency of Nigeria (NAN) forum, said that the country could discover an additional 600 trillion cubic feet reserve to enable it achieve the desired development required of a gas nation. “We have a lot of gas in this country. We have 206 trillion cubic feet of gas reserves. “This number is already discovered in gas reserves and this 206 trillion cubic feet…
The Federal Government says it has facilitated the use of a tracking device to track every truck loading petroleum product from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits. Minister of State for Petroleum Resources, Chief Timipre Sylva, said this at a forum organised by the News Agency of Nigeria (NAN) to gauge the achievements recorded in the oil and gas sector in the last two years. Sylva noted that a lot had been achieved in the industry but that the activities of smugglers had continued to overshadow the successes…