A number of banks in Nigeria are presently at risk of losing their capital and incurring huge toxic assets following the current decline of crude oil prices in the international market, analysts at Afrinvest Securities Limited have warned.

Gabriel Ewepu ABUJA-THE Federal Government has charged the newly registered mining engineers under the auspices of Council of Nigerian Mining Engineers and Geoscientists, COMEG, to sustain and maintain professional standards in the extractive industry.

The Federal Government,has declared that with effect from January 2015, maritime vessels purchased overseas without inputs from local ship builders in Nigeria will not be allowed to operate in Nigeria.

The Manufacturing Partnerships for African Development, MPAD, has lamented the persistent gas shortages at power stations, saying that it is unfavourable to manufacturing industries plants as well as hindering it’s input to the development of country’ economy.

For communities in the hinterland of Bayelsa State where there is hardly any local and state government presence, the people are always looking up to the oil and gas multinationals to provide them with basic amenities in spite of the reservations about their activities.

Chandlers’under the aegis of Nigerian Licensed Ships Chandlers’ Association, NLSCA, have cried to the federal government to come to their aid over the complete take – over of their business by foreign operators.

Managing Director of Wema Bank Insurance Brokers, Mr. Gbenga Olawoyin, has said that insurers and brokers need to ensure that adequate and competent skills are deployed and backed with robust energy reinsurance package in order to fully actualise the potentials provided by the Petroleum Industry Content Development Act 2010 and the NAICOM guidelines for oil and gas insurance business in Nigeria.

Oando Marketing, a subsidiary of Oando Energy Resources PLC has said that it will train 5,000 mechanics as part of contribution to the federal government’s auto policy.

Nigeria’s Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke scored another first with her election as the first female President of the Organisation of Petroleum Exporting Countries, OPEC, at their just concluded meeting in Vienna, Austria.

Several months after the privatisation exercise in the power sector, a disturbing issue has emerged which raises a number of questions over the roles played by Nigerian banks in the sale of the assets.

Nigeria’s House of Representatives committee onenvironment has demanded Shell to pay $3.96 billion, (aboutN604billion), for the 2011 spill at its offshore Bonga oilfield of damage to the environment. The non-binding decision comes after years of analysis by various Nigerian state agencies, which have proposed a range of fines as high as $11.5 billion.

PORT HARCOURT: A group, Centre for Sustainable Growth and Good Governance, has expressed strong worries with developments in the Petroleum Technology Development Fund, PTDF, saying the indiscriminate sack of principal staff of the organisation in the last one year, could impact negatively on the projects of PTDF.

November 1, 2013, the federal government unbundled Power Holding Company of Nigeria, PHCN, which gave birth to five generating companies, GENCOs, and 10 distribution companies, DISCOs, many Nigerians heaved a sigh of relief.

Govt is trying to stabilise electricity market -Nebo

The Managing Director of Oando Gas and Power, Mr. Bolaji Osusanya, recently emerged President of the Nigeria Gas Association, NGA, at the just concluded NGA West Africa Gas Strategy conference held in Abuja.