Energy
DISCO: New tariff only affects major electricity consumers
The Kano Electricity Distribution Company (KEDCO), says the new tariff regime approved by the Nigerian Electricity Regulatory Commission (NERC) will not affect lower electricity consumers in its franchise. KEDCO’s franchise include Kano, Katsina and Jigawa States. Mr Ibrahim Shawai, Head of Corporate Communications of the company, gave the clarification in a statement issued on Wednesday in Kano. Shawai said that the increase in tariff would be applied only on major electricity consumers who had been categorised into Band A, B and C. He explained that the Band A, B and C consumers enjoyed minimum of power supply between 20, 16 and 12 hours respectively. The spokesman added that lower consumers were also categorised into Band D and E with less than 12 hours of supply per day, adding that th...
Fuel subsidy removal: Nigerian government to distribute 2, 000 buses to mitigate effects on transportation
The Federal Government has concluded plans to distribute 2, 000 buses to cushion the effects of transportation on Nigerians, especially those living in rural dwellers. Newsmen report that Dr George Akume, Minister of Special Duties and Intergovernmental Affairs, made this known on Friday at the interactive he had with stakeholders of cooperative societies in Nigeria at his office in Abuja. Akume explained that the initiative was a collaboration between his ministry, the Ministry of Agriculture and Rural Development and other agencies in the government. He said the ministry took the decision to pass through the cooperative bodies to ensure the materialisation of the project, rather than giving out loans to individuals, which might delay quick execution of the project. “Basically we do recog...
PPPRA: Forex, uncertainty responsible for lack of fuel import by marketers
The Petroleum Products Pricing Regulatory Agency, PPPRA, blamed foreign exchange challenges and prevailing uncertainty for the inability of oil marketers to resume fuel import. Addressing newsmen in Abuja, Executive Secretary of the PPPRA, Mr. Saidu Abdulkadir, explained that the Petroleum Products Marketing Company, PPMC, had been the one announcing the price of petrol over the last few months, because it was within its rights to do so, as one of the oil marketers and a major supplier of the commodity. Abdulkadir, who was represented by the General Manager, Administration, and Human Resources of the PPPRA, Mr. Victor Shidok, stated that because of the difficulties in accessing foreign exchange by oil marketers, the PPMC is currently the sole importer of the commodity into the country, and...
Manufacturers urges Nigerian government to review levies on imported electricity meters
The Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to review its levies on imported electricity meters to promote full local content in the production of pre-paid meters. The appeal is coming on the heels of President Muhamadu Buhari’s approval of one year deferment of the 35 percent import adjustment tax (levy) imposed on fully built unit (FBU) electricity meters HS Code 9028.30.00.00 under the 2019 fiscal policy measures for the implementation of Economic Community of West African States (ECOWAS) common external tariff (CET) 2017 – 2022. EMMAN believes the approval is an incentive for mass importation of pre-paid meters as against upscaling of local production. It noted that it takes an average of three months to set up Semi Knock Do...
Nigerian government justifies choice of Siemens for power grid expansion
The federal government yesterday defended the choice of German firm, Siemens AG, for its 25,000 megawatts grid expansion, saying the German firm was chosen to expand Nigeria’s power grid because the company was best qualified to rehabilitate the dilapidated electricity infrastructure in Nigeria. The Minister of Power, Mr. Sale Mamman, who disclosed this in series of tweets via his official Twitter handle, explained that the Siemens deal would expand Nigeria’s power grid capacity to 25,000 megawatts. Mamman noted that not all Nigerians had access to power, while those who had suffer irregular power supply. “So the Siemens project is here to upgrade the national dilapidated infrastructure. The deal is monumental for this sector because the early phases of delivery will improve the grid’s ope...
NNPC: AKK gas pipeline project contract not inflated
The Nigerian National Petroleum Corporation (NNPC) said the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project was not inflated to the tune of 1.527 billion dollars, as alleged in an online media outfit. The corporation disclosed this in a statement signed by its spokesman, Dr Kennie Obateru, in Abuja on Monday. He described the accusation as false, baseless and unfounded. Obateru noted that the NNPC was considering instituting legal actions against the medium and her collaborators. He added that the corporation brought the accusation to the attention of the Bureau for Public Procurement (BPP) which rejected the speculative analysis of the online medium as false and not portraying the true position of the BPP’s report on the subject. “This is clearly a concocted analysis aimed at attacking th...
Senator Tinubu: Amotekun will be a pet if everyone is engaged
A former governor of Lagos State and National Leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu, has called for a review of the country’s revenue formula, saying Amotekun security outfit in the S/West will be a pet if everyone is engaged. Tinubu, who spoke in Akure while inaugurating the Ondo Revenue House constructed by Governor Rotimi Akeredolu of Ondo State, described the present revenue formula in the country as cumbersome. While commending the efforts of Akeredolu at improving the Internally Generated Revenue profile of the state, the former governor said the potential of each state in the South, West must be harnessed in order to solve many other problems. According to him “You can equally use the synergy with the Odua investment to collaborate, not only on Amotekun C...
US sanctions 11 entities for aiding Iran’s oil sector
The US imposed sanctions on 11 entities and three executives Thursday for allegedly aiding an Iranian energy firm that was blacklisted in January, and helping Iran export petroleum products . The new designations of companies and executives include six under the Treasury Department’s authorities and five under the State Department. All are based in Iran, the United Arab Emirates (UAE) or China. The State Department’s sanctions target Iran-based Abadan Refining Company; China-based Zhihang Ship Management, New Far International Logistics LLC and Sino Energy Shipping; and UAE-based Chemtrans Petrochemicals Trading. The department also imposed sanctions on New Far executive Min Shi, Sino Energy executive Zuoyou Lin and Abadan managing director Alireza Amin. “All entities targeted today contin...
Nigerian government not financially able to pay subsidy – minister
Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government was not currently capable, financially, to pay the subsidy. Addressing newsmen men in Abuja, Sylva disclosed that since the introduction of the deregulation policy, the country has saved about N1 trillion. He further disclosed that the Federal Government has concluded plans to merge the Petroleum Products Pricing Regulatory Agency, PPPRA, and the Petroleum Equalisation Fund, PEF, into one agency called The Authority. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards ...
Group tasks multinational oil companies on social responsibility
Oil/Gas Multinational Companies operating in Eastern Obolo local government area of Akwa-Ibom state have been urged to stand up to their Corporate Social Responsibility to host communities. Mr Iroigak Ikaan, a former Commissioner for Lands and Housing in the state, made the call during a stakeholders meeting organised by Utono Obolo in Uyo the state capital. Utono Obolo is a non-political pressure group with membership drawn from Andoni and Eastern Obolo local government areas of Rivers and Akwa Ibom states. Rivers chapter of the group on Sunday were in Uyo in solidarity with her Akwa-Ibom counterpart. Ikaan said that Eastern Obolo currently has 10 oil blocks within its territory namely; OML 13, 69,70, 99, 100, 102, 103, 112, 130, and 138. He said that the oil blocks were located within 10...
Shell employees launch N82 million free feeding programme at isolation centres
Getty Images Employees of Shell companies in Nigeria have launched free feeding programme in COVID-19 isolation centres in seven states under the Shell Employee Care Programme, the General Manager External Relations of Shell Nigeria, Igo Weli, said in a statement on Thursday. “The programme has kicked off in Abia, Bayelsa, Delta, Imo, Lagos, Ogun and Rivers and it is a further demonstration of care to the people following the numerous intervention programmes by Shell companies in Nigeria particularly in support of government at all levels in the fight against the spread of the novel coronavirus pandemic,” Weli said. The feeding programme, according to Weli, was being funded from personal donations by staff and contractors of the Anglo-Dutch integrated energy giant, the total amount of whic...
NPDC to stop gas importation with 500,000 barrels per day production facility – NNPC chief
The Group Managing Director of Nigerian National Petroleum Corporation, Mele Kyari, has disclosed that the Nigerian Petroleum Development Company (NPDC), will soon curb importation of Liquefied Petroleum Gas (LPG), into the country with the daily production of 500,000 barrel per day, for local consumption. Kyari disclosed this Wednesday during the facilities tour of Oredo Integrated Gas Handling Facility (IGHF) in Ologbo, Ikpoba-Okha local government area ofEdo state. He disclosed that the plant which would be commissioned by President Muhammadu Buhari in October this year, will take the company’s daily production form the present 260,000 barrels per day to 500,000 barrels per day. “Around one year ago, NPDC was producing about 136,000 barrels per day. Today, we are producing 260,000 barre...
