Federal Government, last weekend disclosed it generated N1 billion from sale of mining leases through the Mining Cadastral Office, MCO, within last one year.

With the ongoing efforts of the Federal Government to rebuild the towns and communities destroyed by Boko Haram insurgents in the North East zone, a German firm, LTI Re Energy and its Nigerian partner, NIGUS International, have sealed an agreement to light up the zone through renewable energy resources. To this end, the firms have made known their intention to commit N180 billion in the development of solar energy in that part of the country.

Nigeria needs at least $14 billion a year in new investments over the next five years to raise oil output to 2.2 million barrels a day (bpd) which is the national budget output benchmark, the Managing Director of Shoreline Natural Resources, an independent oil producing company, Ladi Bada, has said.

Major transformations in the global energy system that may take place over the next decades, indicate that renewable energy and natural gas would be the big winners in the race to meet energy demand growth until 2040, the latest edition of the World Energy Outlook, the International Energy Agency’s flagship publication, said.

The Nigerian National Petroleum Corporation, NNPC, spent $2.94 billion on Joint Venture Cash Call, JVCC, funding over a 12-month period, between October 2015 and September 2016.