THE Secretary General, Organisation of Petroleum Exporting Countries, OPEC, Haitham Al Ghais, yesterday, said the world needed to invest $14 trillion between 2023 and 2045 to meet global demand. In his article – Why OPEC has increased its long-term oil demand outlook in the World Oil Outlook, WOO 2023 – obtained by Vanguard, the secretary general who noted the continued rise in global demand, stated: “In the WOO 2023, investment requirements out to 2045 total $14 trillion, or around $610 billion on average per year. We need a long-term stable investment-friendly climate, one that works for producers and consumers, and we need to move away from the misguided idea of no longer investing in new oil projects.

THE Secretary General, Organisation of Petroleum Exporting Countries, OPEC, Haitham Al Ghais, yesterday, said the world needed to invest $14 trillion between 2023 and 2045 to meet global demand.

By Fortune Eromosele  The United Nations Habitat Ambassador to Nigeria and Life member, International Chartered World Learned Society, ICWLS, has congratulated the newly appointed Comptroller General, Nigeria Customs Service, Adewale Adeniyi over his appointment.  The congratulatory letter to Adewale Adeniyi  was signed and made available to the newsmen by his media aide, Emmanuel Daudu.  According […]

By Ibrahim Hassan Kaduna—Bandits have killed two commercial drivers and injured another, along a highway in Birnin Gwari Local Government Area of Kaduna State. The drivers were identified as Mustapha Adamu, and Malam Mukhtar, whom the villagers said was popularly known as ‘Teacher’. The Police Public Relations Officer in Kaduna State, Mansir Hassan was yet […]

By Ibrahim Hassan Yola—Adamawa Police Command has arrested six suspected kidnappers for allegedly kidnapping a 9-year-old boy, after demanding N5 million ransom, in Mubi-South Local Government Area of the state. The command Spokesperson, Suleiman Nguroje, who disclosed this, yesterday, said that the suspects kidnapped the victim, Mustapha Ibrahim, on October 18 at about 6:30 p.m. […]

Federal Government,  yesterday, admitted that Nigeria was ill-prepared to take advantage of the significant increase in the demand for natural gas…

A joint security team, comprising the Military, Police, DSS, Civil Defence and vigilante members has killed one suspected bandit and rescued three abducted persons.

THE Federal Government,  yesterday, admitted that Nigeria was ill-prepared to take advantage of the significant increase in the demand for natural gas by European countries following the outbreak of the Russian-Ukrainian war last year. Following the outbreak of the war and imposition of sanctions, Russia cut gas supply to European countries leading to a huge energy crisis and increased demand for alternative sources of gas. With over 200 trillion cubic feet of natural gas reserve and regarded as one of the leading gas resource countries in the world, Nigeria failed to reap from the huge rise in demand due to poor investments and lack of foresight.

There are strong indications that members of the Parliamentary Staff Association of Nigeria, PASAN, may commence a nationwide strike from tomorrow over the non-implementation of the Financial Autonomy Act by the state governors.

By Ebunoluwa Sessou As part of the United State’s efforts to contribute its quota to the improvement of Nigeria’s economy, the Deputy Assistant Secretary of State (DAS) Joy Basu, who oversees Economic and Regional Affairs in the Department of State’s Bureau of African Affairs last week came on a-2-day visit to Nigeria to discuss specific […]

THE price of Premium Motor Spirit, otherwise known as petrol increased year-on-year, YoY, by 226.75 per cent to N626.21 per litre in September 2023, from N191.65 per litre, recorded in the corresponding period of 2022. This is even as the price of the product continues to rise in many states, due to the inability of oil marketers to import, many months after deregulation of Nigeria’s downstream sector.

By James Ogunnaike ABEOKUTA: The Rector of Moshood Abiola Polytechnic (MAPOLY), Abeokuta, Dr. Adeoye Odedeji has appealed to major stakeholders in the nation’s education sector for proper funding of polytechnics, so as to sustain the academic excellence and enhance technological development of the country. Dr. Odedeji made the call at the weekend while playing host […]

THE Federal Executive Council, FEC, yesterday approved the establishment of Humanitarian and Poverty Alleviation Trust Fund as part of the administration’s efforts to cushion the economic hardship on vulnerable Nigerians.

An Abavo-born businessman based in South Africa, Mr. Lemuel Okonta has called on the people of Ika South Local Government Area of Delta State to support Mr. Tony Ugbejie’s chairmanship aspiration, saying that the time has come for technocrats to get involved in local politics.

President Bola Tinubu, the Independent National Electoral Commission, INEC, and the All Progressives Congress, APC, yesterday, told the Supreme Court why it should not admit as evidence Tinubu’s certificate that was released to the candidate of Peoples Democratic Party, PDP, Alhaji Atiku Abubakar, by the Chicago State University, CSU.