A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Loan to be repaid from pipeline transmission tariff, sovereign guarantee Set August 2020 for financial closure By Michael Eboh The Federal Government, Tuesday, disclosed that funding for the $2.6 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline would be provided by the Bank of China and SINOSURE, while two Chinese firms would be working along with their Nigerian
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Say thermal accounts for 80% of energy generation mix Lament sector’s N1.5tn liquidity gap By Chris Ochayi The electricity Distribution Companies, DISCOs, have called for Federal Government intervention on the high cost of gas, nothing that helping to bring down the price of the product would ensure the sustainability of the power sector. This Executive
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Ikeja Electric Plc on Friday said it would begin implementation of its revised electricity tariff from July 1. The electricity distribution company made the announcement in a statement signed by its Head of Corporate Communications, Mr Felix Ofulue. Ofulue said the Ikeja Electric Plc’s new tariffs, which are service reflective, are end-user rates to be
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By Emeka Anaeto Nigeria’s oil industry appears to have started a major turn-around, considered long overdue, to reposition it as a major catalyst in the transformation of the country’s economy. The process is led by the Nigerian National Petroleum Corporation, NNPC. The Corporation, this week, announced its audited financial statement, though the second in its
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THE Management of Ibadan Electricity company Plc (IBEDC) has expressed concern over what it described as “incessant cases” of vandalism of electrical installations across its network.
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By Udeme Akpan The price of Bonny Light, Nigeria’s premium oil grade, which had risen to $40 per barrel last week, dropped to $38.70 following the prevalence of excess crude in the international market. This was even as the Organisation of Petroleum Exporting Countries, OPEC, emerged with a report, stating that it achieved 87 per
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Osten Olorunsola, is Fellow and Country Chairman of the Energy Institute, Nigeria, and seats on the Expert Advisory Panel of the Nigerian Natural Resources Charter (NNRC). Currently, he is Chairman/Chief Executive Officer of Energetikos Limited, an energy advisory services group, as well as non-executive member of a handful corporate boards. Olorunsola’s stint as a public
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Plunging oil prices and collapsing state revenues have seen Nigerian authorities vow an end to a controversial fuel subsidy scheme long criticised as a graft-ridden drain on public finances. But there are major doubts that Nigeria is finally ready to wean itself off a system that has helped some in high places syphon billions from
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Mexico on Saturday refused to extend a cut in oil production (output) to the end of July which was agreed by OPEC members and other key producers. The Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed on Saturday to extend through July the historic output cuts for May and June. But during
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OPEC members led by Saudi Arabia and other key oil producers agreed Saturday to extend historic output cuts through July. The 13-member cartel and its allies, among them Russia, decided to extend by a month deep cuts, first agreed in April for May and June, to boost prices hit hard by the new coronavirus pandemic,
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