Francesca Odimgbe Lagos State Governor Babajide Sanwo-Olu, on Friday, sent a word to citizens planning nationwide protests, urging them to tread with caution while they exercise their constitutional rights to freely express their grievances. Sanwo-Olu acknowledged their rights to air their concerns about socio-economic situation in the country, but said the Government remained open to dialogue in order to resolve the citizens’ complaints. The Governor advised those aggrieved to refrain from divisive utterances and actions that may threaten the safety and peace in the country, noting that those issuing threats had ulterior intentions which border on breakdown of law…
Author: Orientalnews Staff
Yemisi Izuora The Central Bank of Nigeria (CBN) has sold a cumulative amount of US$148,000,000.00 (One Hundred and Forty-Eight Million United States Dollars) to Authorised Dealers in the Nigerian Foreign Exchange Market (NFEM) to provide liquidity to the Fx market. The transactions were conducted on July 22 and 23, 2024. The Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, who disclosed this underscored the transparency of the CBN’s operations. She disclosed that the CBN sold foreign exchange (FX) to 29 Authorized Dealer banks at exchange rates between N1470.00/US$1 and N1510.00/US$1. Mrs. Sidi Alli also stated that the…
Moses Ofodeme Former Nigerian President, Chief Olusegun Obasanjo has mourned the President-General of Igbo socio-cultural organisation, Ohanaeze Ndigbo Worldwide, Emmanuel Iwuanyanwu who died at 82 years. Obasanjo in a condolence letter dated July 26, 2024 and addressed to the family said he received the demise of Iwuanyanwu with mixed feelings of sadness and gratitude to God, adding that the country will miss his contribution to the building of a new Nigeria of his dream. ‘I received the news of the death of my friend, brother and one of our nation’s most intrepid entrepreneurs, Chief Emmanuel Iwuanyanwu, with mixed feelings…
Punch Story Filling stations in Abuja and neighbouring states of Niger, Nasarawa, and Kogi, were shut on Friday as oil marketers expressed worry over the planned nationwide protest. Retail outlets, including those operated by the Nigerian National Petroleum Company Limited in Kubwa, Salbas Oil, Eterna, and Gegu Oil, among others located on the Kubwa-Zuba expressway, stopped dispensing fuel. The same scene was also witnessed inside Abuja and parts of Niger and Nasarawa states. Oil marketers told our correspondent that filling stations in Lokoja, the Kogi State capital, were also shut. The development led to fuel queues resurfacing in outlets…
Valentine Okafor Stakeholders have called for the institutionalization of corporate governance in Nigeria’s public sector to foster transformation and support the government’s goal of achieving a trillion-dollar economy. This call was made at the second edition of the National Corporate Governance Summit, held on Thursday in Lagos. The event, with the theme “Institutionalising Good Governance for National Transformation: The Imperative of Public/Private Sector Collaboration,”was organized by the Institute of Directors’ Centre for Corporate Governance (IoDCCD), the Ministry of Finance Incorporated (MOFI), the Financial Reporting Council (FRC), and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).The summit emphasized…
James Ononuju Dangote oil refinery is reselling cargoes of U.S. and Nigerian crude, four trade sources familiar with the matter said on Friday. Three of the sources said the reoffer was linked to technical problems at the refinery. A Dangote executive, asked about the offers and talk in the market that the refinery is having operational issues affecting the crude distillation unit, said the CDU is in operation. The refinery started production in January and will be the largest in Africa and Europe when it reaches full capacity. It could upend what has been a highly lucrative Europe-to-Africa fuel…
Yemisi Izuora Africa’s energy companies are garnering sufficient skills as French major TotalEnergies announced the sale of its stake in key African nations. The oil major recently announced the sale of stake in 18 Oil Mining Licenses (OMLs) in Nigeria the majority of which are onshore to Mauritius-based company Chappal Energies this month. As an independent energy company, Chappal Energies specializes in revitalizing brownfield assets and unlocking latent value in Nigeria and Africa’s oil and gas resources. The transaction is the latest in a series of deals in which junior and independent explorers as well as African national oil…
Valentine Okafor Nigeria is stepping up projects around renewable energy space to scale up energy diversification and provide access to underserved communities. The latest is a partnership deal between Slash Energy Nigeria Limited, and the Katsina State Government which recently announced the launch of a significant 200MW solar power project in Katsina State. The project aims at addressing Nigeria’s chronic energy shortage and is poised to become the largest renewable energy project in West Africa. The Ministry of Information and Communication in the Official Instagram post describes this as “New ideas, fresh perspectives for unlocking the Katsina State economy.” Energy…
Yemisi Izuora Italian major, Eni has reported a net profit of $1.63 billion (1.5 billion euros) for the second quarter of 2024, down by 21 per cent year-over-year but ahead of the analyst consensus estimate of $1.54 billion (1.42 billion euros). Oil and gas production rose by 6 per cent from a year earlier, to 1.71 million barrels of oil equivalent per day (boe/d), driven by ongoing ramp-up at projects in Cote d’Ivoire and Congo Floating LNG, higher contribution from Libya, and by the full integration of Neptune. As part of the effort to upgrade the E&P portfolio and…
Uche Cecil Izuora The Executive Director of PowerUp Nigeria, Adetayo Adegbemle, has challenged the Rural Electrification Agency (REA) and other relevant Agencies of Government to share industry data with the private sector to optimize the utilization of green funding. He emphasised that this is essential for Nigeria to achieve its vision of 30 Gigawatts of energy by 2030 and to advance towards Sustainable Development Goal 7 on affordable and clean energy. Adegbemle made this observation during a panel session on the theme “Green Economy, Sustainable Growth, and Infrastructure Transformations” at The Oriental News 2024 Summit, held in Lagos on…