Equity investors lose N4.9trn, as market uptrend reverses
By Peter Egwuatu The Nigerian stock market reversed its upward trajectory last week with investors losing over N4.915 trillion of their investment listed on the Nigerian Exchange Limited, NGX. The development was driven by a sustained profit-taking move across major sectors. Consequently, the NGX market capitalisation, which represents the total value of stocks listed on the […]
Mobil denies involvement in subsidy scam
MOBIL Oil Nigeria, Plc has denied any form of involvement in subsidy scam. The anti-corruption agency is to recover 14.93 billion naira ($95.04 million) in fuel subsidy payments received by Mobil Oil Nigerian Plc, the downstream subsidiary of ExxonMobil group, a parliamentary investigation said.
FG to harvest 10.8MW power from wind farm
The Federal Government said the country’s first ever wind-propelled power project, due for commissioning in July this year in Kastina State, will contribute about 10.8 mega watts to the national grid.
Lagos unveils first household energy and emission calculator
The Lagos State Government, through the Ministry of Energy and Mineral Resources and its implementation agency the Lagos State Electricity Board (LSEB), will today launch the first consumer focused Household Energy and Emission Calculator in Nigeria.
Shell assessing $4bn Nigeria oil projects
The Chief Executive of Royal Dutch Shell Plc, Mr. Peter Voser, has revealed that the oil major is assessing projects that could be worth up to $4billion to boost oil production in Nigeria and cut flaring of associated gas.
Power: Imoke calls for review of gas pricing policy
Cross Rivers State Governor, Mr. Liyel Imoke, has called on the Federal Government to review the current natural gas pricing template, saying that current structure had over the years remained a major disincentive to the gas to power programme and attendant electricity supply shortages in the country.
