AHEAD of the 50th anniversary celebration of the Organization of the Petroleum Exporting Countries, OPEC, the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, has on behalf of the federal government flagged off the in-country celebration of the organization’s Golden Jubilee with the launch of commemorative postage stamps.

DESPITE the furore over refined products importation in the country, analysts believe the downstream operations in the Nigeria petroleum sector is now better managed, with series of streamlining of operations.

ABUJA – The Federal Government is exploring the possibility of upgrading the National Technical Institute, Bonny, Rivers State into a full fledged Federal Polytechnic specialising in Gas Technologies, alternative energy technologies, and Environmental Sciences.

ABUJA – With the nation’s ambition for nuclear-generated energy, as well as growing demand for radioactive sources in other sectors, the Nigerian Nuclear Regulatory Authority (NNRA) has called for tighter regulatory measures in order to prevent radiological mishaps in and around the country.

THE Federal government has announced that in view of the planning and strategies put in place to bring about a smooth passage of the Petroleum Industry Bill (PIB), investment inflow afterwards are expected to generate about 30,000 jobs locally even as it laments poor funding of gas infrastructure in the country.

Royal Exchange, Nigeria’s premier financial services group has reinforced its preparedness to fully explore all opportunities presented by the Federal Government’s local content policy which seeks to encourage more indigenous participation in the oil and gas sector.

The high lending rate charged by banks operating in the country has been attributed to the high cost of transactions.
Mrs. Sola Ayodele, Managing Director, Spring Bank Plc at the recent 2010 banking review report by Afrinvest Limited said, “the high lending rate charged by banks is as a result of the high cost of transactions. The banks virtually provides all the infrastructure needed to boost its operation at higher cost”.

Despite the fluctuating trend recorded in the equities’ segment of the Nigerian Stock Exchange (NSE), last week, the value of listed equities, represented by the All-share index and market capitalisation, appreciated by N29.85 billion.