Ken Okeke The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says there are 220 open acreages that are ready for exploration and investment opportunities. In the oil and gas sector, acreages mean specific tracts of land available for exploration, drilling, or production activities and can be leased or sold to companies to extract natural resources. Nigeria currently has 31 oil blocks available for investment and has invited interested investors to explore opportunities in these blocks and contribute to the growth and development of the country’s oil and gas sector. The Chief Executive of NUPRC, Gbenga Komolafe, disclosed this during his…
Author: Orientalnews Staff
Yemisi Izuora Nigerian Government is promoting the adoption of Liquified Natural Gas (LNG) as it launches a major project to modernize its railway system. The transitioning to LNG is in line with a series of sequential steps in its gas utilization initiative. The initiative includes converting the DF8BN locomotive, originally manufactured by China’s CRRC in 2020. This locomotive now runs on a mixed fuel system, where 70 per cent is LNG and 30 per cent is diesel. It has already begun trial operations on a new 1435 mm standard-gauge rail line connecting Abuja and Kaduna, a route spanning 187…
UCHE Cecilia Izuora A new report by the International Institute for Sustainable Development (IISD), titled Public Financial Support for Renewable Power Generation and Integration in the G20 Countries, has revealed that G20 governments are spending three times more on fossil fuels than on renewables. The report comes amid renewed commitments by these economies to accelerate global renewable energy capacity. The report considers that as Nigeria aims to boost its renewable energy capacity, it could serve as a crucial reminder for policymakers to rethink public spending priorities and create a conducive environment for private sector participation in the clean energy…
Uche Cecil Izuora The Managing Director/Chief Executive Officer of Eterna Plc, Abiola Lukman Lawal has made a strong impression about the importance of deepening Compressed Natural Gas (CNG) as alternative fuel for the transportation sector. He expressed that Nigeria’s abundant gas reserves offers immediate solutions to the nation’s energy challenges if well leveraged and managed. Lawal, while applauding efforts of Federal Government CNG initiative also mentioned that the Liquefied Petroleum Gas (LPG) is also critical for transportation and cooking respectively stressing that gas is a viable and cost effective alternative which should be given proper awareness. Lawal…
Yemisi Izuora The Secretary General of the African Petroleum Producers Organisation (APPO), Dr. Omar Farouk Ibrahim, has called on African nations to initiate a unified African front in the global energy landscape as he warned against the detrimental effects of the European Union’s planned carbon border adjustment mechanism (CBAM). He made the comment when he delivered a powerful message at the AOW conference Investing in African Energy. Ibrahim provided an update on the organisation’s efforts to establish the African Energy Bank, a crucial initiative to counter the withdrawal of traditional financiers from African oil and gas projects due to…
Yemisi Izuora This year’s African Energy Week (AEW): Invest in African Energy conference – scheduled is taking special interest in facilitating energy investment partnerships with key global investors to provide energy for over 600 million Africans without power. Scheduled to hold from November 4–8 in Cape Town, the event will feature a dedicated panel discussion connecting global logistics companies with emerging opportunities in the African energy and transportation segments. The AEW 2024 panel will explore these investments and efforts to streamline energy trade both within Africa and internationally. Furthermore, African oil and gas-producing nations are intensifying pipeline infrastructure to…
Uche Cecil Izuora The drive by Nigeria through the Rural Electrification Agency (REA) to energize the country through massive renewable energy projects may face challenges as the world will fall short of meeting the UN’s objective to triple renewable capacity by 2030, despite the fact that many countries are expected to reach or surpass their national targets, according to the International Energy Agency’s (IEA’s) most recent report. The report, entitled Renewables 2024, explained that the world is set to deploy more than 5.5TW of renewable energy between now and 2030, three-times the additions between 2017 and 2023 and equivalent to the…
L-R: Olajumoke Akinwa, Corporate Communications Manager, Pension Fund Operators Association of Nigeria (PenOp), representing Oguche Agudah, CEO, PenOp; Akinsola Adeseun, Zonal Head, South West Zonal Office, National Pension Commission (PenCom), representing Omolola Bridget Oloworaran, Acting Director-General, PenCom; Rita Akao, Senior Manager, Brand Strategy and Communications at Stanbic IBTC; Nkechi Naeche-Esezobor, Chairperson, Nigerian Association of Insurance and Pension Editors (NAIPE); Fola Daniel, former Commissioner for Insurance and former Managing Director/CEO, FBS Reinsurance Limited, Chairman of occasion; Idu Okwuosa, former Managing Director/CEO, Access Pensions; Yetunde Ilori, President/Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN); Abba Khaleel, Head, Corporate Communications, representative of…
Ken Okeke The Federal Airports Authority of Nigeria (FAAN) has make clarifications regarding cargo handling procedures and operations at airports. The clarification follows a video circulating online, depicting a disagreement between its staff and an individual over cargo charges at the Murtala Muhammed International Airport (MMIA) Terminal. The Agency in setting the record straight regarding cargo policies and the incident in question, said contrary to initial reports, the individual involved was not a passenger but a cargo agent conducting illegal operations at the airport. According to FAAN, she refused to pay the stipulated charges for the cargo and behaved…
Joyce Onwuka The Industrial Training Fund (ITF) has announced Osun State as its South-West Zonal Headquarters. The development was disclosed to the Special Adviser to Governor Ademola Adeleke on Technical and Vocational Education, Arch.Dapo Ademola-Adesina by the ITF management on Monday. Recall that Arch. Dapo had on the 30th of May 2024, during a courtesy visit to the agency, proposed a collaboration with the Osun State Board for Technical and Vocational Education in the areas of Vocational and Skill Training, Skill-Up Artisans (SUPA) as well as Student Industrial Work Experience Scheme (SIWES). The proposal became successful as the Director General…