Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB) has revealed that the Nigerian content implementation in the oil and gas industry has hiy 61 per cent from five per cent in 2010. This is the Baord targets greater global competitiveness for indigenous oilfield service companies. General Manager, Corporate Communications, NCDMB, Dr. Obinna Ezeobi, disclosed this on Thursday at the 2026 Energy Conference of the Nigerian Association of Energy Correspondents (NAEC). Ezeobi said the next phase of Nigeria’s local content development must go beyond enabling Nigerian companies to participate in domestic projects to building companies capable of competing…
Author: Orientalnews Staff
Uche Cecil Izuora Chairman of Sahara Group, Kola Adeshina, has advised Nigerian firms to develop the necessary technical capacity backed by access to finance as well as become consistently innovative to translate assets into economic value. He said ownership of oil and gas assets alone will not drive growth in Nigeria’s energy sector. Adeshina, represented by Head of Corporate Communications, Sahara Group, Bethel Obioma, stated this at the 2026 Energy Conference of the Nigerian Association of Energy Correspondents (NAEC). He said the ongoing restructuring of ownership across parts of Nigeria’s energy industry, with indigenous companies taking on greater responsibilities,…
Uche Cecil Izuora The Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, has said that Nigeria is fast tracking efforts to transform the country’s gas resources to increasingly serve as a catalyst for industrialisation, power generation, transportation, manufacturing, fertiliser production, LPG adoption and other productive activities across our economy. Speaking at the 2026 energy conference of the Nigeria Association of Energy Correspondents of Nigeria (NAEC) with the theme,” Access to Assets: Empowering Players and Driving Growth” the Minister represented by his Technical Adviser, Engr. Abel Nsa, said currently the Federal Government has continued to prioritise critical gas infrastructure. He listed some of…
Uche Cecil Izuora The Minister of Power, Joseph Tegbe, has noted that Nigeria’s electricity market was evolving across interconnected national systems and state level markets, creating opportunities for different categories of investors and operators to participate in the sector. This transformation he said therefore requires stronger investment and structural reforms across Nigeria’s electricity market to improve power supply and unlock wider economic growth. Tegbe, made the call at the NAEC Energy Conference 2026 held at Eko Hotel on Thursday, during which he stressed the need to match different technologies and commercial models with the varying electricity needs of consumers. Represented by…
Joseph Bakare The Governor of Kogi State, Alhaji Ahmed Usman Ododo, has vowed to protect cashew farmers and investors in the state from exploitation, multiple taxation and illegal revenue collection, describing the crop as a major economic asset with the potential to generate foreign exchange and create thousands of jobs. Ododo made the commitment when he received stakeholders in the Kogi cashew industry at the Government House, Lokoja, where he acknowledged the growing contribution of cashew farming to employment and economic development in the state. The Governor said the expansion of cashew farming had taken many young people off…
Yemisi Izuora Lagos State Government has praised the resilience of the Manufacturers Association of Nigeria (MAN) in providing support to efforts of government to improve living conditions of the people. Speaking during the Manufacturers Association of Nigeria (MAN) 54th Annual General Meeting (AGM) with the theme- “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub”- the State’s Commissioner for Commerce, Cooperatives, Trade and Investment, Hon. Folashade Bada Ambrose-Medebem, said Lagos is not slowing down on its push to become Africa’s premier industrial hub. According to her, the Babajide Sanwo-Olu administration remains unwavering in its commitment to creating…
Uche Cecil Izuora Nigeria’s frontier basin is now a major attraction to oil exploration Companies as the country opens new field opportunities to interested domestic and foreign investors. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it is targeting the recovery of more than 788,000 barrels of crude oil per day from shut-in production, while pushing to attract between $30bn and $50bn into offshore projects. The Commission Chief Executive, Oritsemeyiwa Eyesan, disclosed this while speaking at the annual conference of the Association of Energy Correspondents of Nigeria in Lagos on Thursday. Eyesan disclosed that the Anambra Basin, Benue Trough,…
Yemisi Izuora The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has envisaged a reduction in prices of agriculture products following envisaged drop in transport costs. The Association says the new policy that aims at reducing prices of petrol would translate to drop in transport fare. The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, on Thursday said government proposes a measure to cap petrol prices at about 1,350 naira ($1.02) per litre, asking refiners and fuel importers to absorb temporary increases and recoup losses once costs ease. The Minister explained that the scheme…
Yemisi Izuora The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has applauded the Federal Government for introducing a 30-day petrol discount scheme aimed at reducing transportation costs and easing the economic burden on Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, on Thursday said government proposes a measure to cap petrol prices at about 1,350 naira ($1.02) per litre, asking refiners and fuel importers to absorb temporary increases and recoup losses once costs ease. The Minister explained that the scheme would cover petrol supplied by the Nigerian National Petroleum Company Limited…
Uche Cecil Izuora Global oil market is likely to experience another crisis as oil bearing tankers are facing a higher risk of attacks and intimidation as they try to get critical shipments through the Strait of Hormuz. The fear heightened after Iran issued new warnings that it would block routes that it has not authorized, sources said. Last week already saw the biggest number of attacks on tankers in the key waterway since the Iran war began – cutting the number of vessels trying to get through to the lowest in more than two months. Iran has now warned…