Joseph Bakare The Nigerian Electricity Regulatory Commission (NERC) has said that licensed Electricity Distribution Companies (DisCos) remitted N110.62 billion out of the cumulative invoice of N114.12 billion in the first quarter (Q1) 2024. This translates to a remittance performance of 96.93 per cent in Q1, 2024 compared to the 69.88 per cent recorded in fourth-quarter (Q4), 2023. The NERC in its new report also revealed that the Discos generated N291.62 billion in revenue in the first quarter (Q1) of 2024. The NERC in its first quarter,2024 report noted that the N291.2 billion generated was collected out of the N368.65 billion bills…
Author: Orientalnews Staff
Joseph Bakare The Nigerian Electricity Regulatory Commission (NERC) is about issuing licenses to more firms to buy and sell electricity in bulk from the power generators with expected quitting of the Nigerian Bulk Electricity Trading Plc (NBET). The regulator had in an Order dated July 25, 2024 by its Chairman, Engr. Sanusi Garba, and Commissioner, Legal, Licensing and Compliance, Dafe Akpeneye, said, “NBET shall forthwith cease to enter into new contracts for the purchase and resale of electricity and ancillary services in Nigerian Electricity Supply Industry (NESI)”. The NERC, said, any contract executed by NBET in violation of this…
Yemisi Izuora The Center for the Promotion of Public Enterprise (CPPE) has estimated that the planned nationwide protest could lead to a daily loss of N400 billion if not properly managed. The Chief Executive Officer (CEO) of the Center, Dr. Muda Yusuf warned that the proposed nationwide protests portend grave dangers for an economy which is already in a very fragile state, adding that “The protests could inflict an estimated daily loss of N400 billion, if not properly managed.” The consequences of such a huge loss for the country and the citizens would be very severe, he warned stressing that…
..Fola Daniel To Chair Summit Yemisi lzuora The 9th edition of the annual conference of the Nigerian Association of Insurance And Pension Editors (NAIPE) is scheduled to hold on the 8th of October, 2024. The conference is expected to gather experts who will discuss the Roles of Insurance And Pension Sectors In achieving Nigeria’s projected $1 Trillion Economy. This year’s edition will take place at the Oriental Hotel, Lekki-Ajah Expressway, Victoria Island, Lagos, by 9am. The conference will be chaired by the former Commissioner for Insurance, National Insurance Commission and currently the Managing Director/CEO, FBS Reinsurance Limited, Mr. Fola Daniel.…
Yemisi Izuora Government of Germany has underscored the potentials and benefits in ongoing energy transition in Nigeria stressing that shift to renewable sources would not only provide security in the energy sector but Nigerians will benefit from its affordability in future. The Consul-General of the Federal Republic of Germany in Nigeria, Weert Borner, who stated this promised his country’s commitment to partnering with Nigeria and supporting its transition to renewable energy. Speaking at a seminar with the theme “Africa-Europe Roundtable on Renewable Energy.” organized by the Department of Political Science, Faculty of Social Sciences, Lagos State University (LASU), Borner…
Uche Cecil Izuora The Libya National Oil Corporation (NOC) had at the weekend denied holding negotiations to supply crude oil to a refinery in Nigeria. Reuters had last week published a report on the discussion quoting a senior executive with Dangote refinery. “The National Oil Corporation denies that it is negotiating or engaging in any talks regarding the supply of crude oil to an oil refinery in Nigeria,” NOC said in a statement on social media platform X. The NOC added that it is committed to its contracts with its international partners and “adheres to the legal mechanism for…
Joyce Onwuka The annual science quiz competition sponsored by Nigeria LNG Limited (NLNG) in Rivers State ended at the weekend with Government Secondary School Oyigbo emerging as the champions in the senior secondary school S.S. 2 category. This year’s contest centred on the theme “Artificial Intelligence (AI): Innovating the Future.” The quiz was open to students in S.S. 1 and S.S. 2 across secondary schools in Rivers State. Government Secondary School Oyigbo triumphed over six other finalists in the grand finale. Bonny National Grammar School and Niger Delta Science School, Captain Elechi Amadi Polytechnic, Port Harcourt, secured second and…
Yemisi Izuora The Nigeria LNG Limited (NLNG), has taken delivery of new state-of-the-art and energy-efficient vessel, AKTORAS, which has arrived at the Company’s Bonny Terminal for its maiden loading of LNG. The charter of the vessel by NLNG’s shipping subsidiary, Bonny Gas Transport Limited (BGT), was a strategic move to diversify and reduce the carbon footprint of the Company’s shipping portfolio. The vessel is equipped with MEGA propulsion system, which uses advanced technologies and cutting-edge design to reduce emissions and increase efficiency. It is a 174,000 m3 capacity LNG carrier, with a length of 299.6 metres, breadth (moulded) of…
Joseph Bakare The Economic and Financial Crimes Commission, EFCC, have arrested 13 suspected illegal miners in the Asokoro area of Abuja in a operation on Wednesday, July 24, 2024. The suspects were intercepted and arrested following credible intelligence linking them with transportation of tons of coal and kaolin in five trucks from Nassarawa State to a site in Kaduna State. The suspects are currently undergoing interrogation and would be charged to Court upon conclusion of investigation.
Yemisi Izuora The Nigerian Meteorological Agency (NiMet), and the Federal University of Petroleum Resources Effurun (FUPRE), Effurun, Delta State, have held a one-day workshop in the university on the downscaling of the 2024 Seasonal Climate Prediction (SCP) for Delta State. In a keynote address, the DG/CEO of NiMet, Prof. Anosike, who was represented by the Director, Applied Meteorological Services, Mrs Glory Onyegbule, commended the The Vice Chancellor of FUPRE, Prof Akpofure Rim-Rukeh, for accepting to host the workshop which was aimed at building resilience among smallholder farmers to increase productivity by Identifying adaptation options, best practices, and adaptation gaps…