Uche Cecil Izuora With oil production around 1.34 million a day, Nigeria is facing major economic and energy security risk according to stakeholders in the oil and gas industry. The danger under the present circumstance according to them is that the country would rather keep the tempo of exporting raw crude to earn foreign exchange at the expense sustaining socio-economic stability as the recurring crises in the downstream sector would remain unresolved At the inaugural Crude Oil Refinery-Owners Association of Nigeria (CORAN), in Lagos today Tuesday October 8, both crude oil producers and Refinery operators agreed that the push…
Author: Orientalnews Staff
Yemisi Izuora The upcoming 11th edition of the Nigeria Energy Exhibition and Conference would bring critical stakeholders in the power industry to have conversation on the country’s energy transition. With the endorsement of the Federal Ministry of Powfrom the event will hold at the Landmark Center in Lagos, Nigeria, from October 15th to 17th, 2024, to address the critical challenges in West Africa’s energy sector. Nigeria Energy serves as West Africa’s premier platform, bringing together contractors, developers, investors, project owners, and utilities to collaborate and create reliable energy solutions that address the region’s growing energy demands. Organised by Informa Markets, the…
Yemisi Izuora Chairman of Dangote Refinery and Petrochemicals Company Limited, Aliko Dangote, has said that Nigeria’s in-country petroleum products refining would help save the continent a whopping $17 billion spent to import products from Europe, Russia and others. He however said this can happen if Nigeria enhances its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries. This he stated will help the country transit from a net importer to a net exporter of petroleum products. Dangote who was represented by Engr. Mansur Ahmed, Group Executive Director of Dangote Industries Ltd, made…
Yemisi Izuora Dangote Industries Limited, DIL, is significantly strengthening operational capabilities inching towards processing about 550,000 barrels a day to meet growing refined petroleum products both for local consumption and export. The Company is presently processing about 400,000 barrels a day from its 650,000 barrels a day refinery in Lagos. This is coming as the Nigerian National Petroleum Company Limited (NNPC) will supply the refinery with around 400,000 barrels per day of crude oil through the end of November. Group Chief Strategy, DIL, Aliyu Sulaimon, speaking during one of the panel sessions at a one day Crude Oil Refinery…
Yemisi Izuora The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, has stated that intrusiveness in operations of the Nigerian National Petroleum Company Limited (NNPCL) has been ended. Lokpobiri, further states that the NNPCL as presently established is a Company governed under the Companies and Allied Matters Act (CAMA), with a functional Board and management. Under the present system, the Ministry of Petroleum Resources does not control or run NNPCL, as it operates independently like any corporate entity, he declared. The Minister’s clarification is coming after he was erroneously misrepresented at an energy event in Lagos. “My attention has…
Uche Cecil Izuora Most countries in Africa, especially Nigeria as well as other poor countries of the world would require investments of $21.3 billion by 2030 to be able to provide energy to huge underserved population. This is according to the Global Association for the off-grid solar energy industry, which said the sum is six times larger than what it has managed to attract in investments so far. Currently, the World Bank and the African Development Bank are working on a plan to bring electricity to 300 million across Africa by 2030. The two have promised to provide $30…
Joseph Bakare The National Agency for Science and Engineering Infrastructure (NASENI) is organizing a 3-day procurement in-house training for all procurement and other relevant officers in NASENI system -wide to acquaint them with best procurement operations and in line with global practices. The training will take place at the NASENI Headquarters, beginning from Tuesday 8th to 10th October, 2024, targeted at building the capacity of procurement officers, and other select staff from Accounts, Audit, legal, Media, Planning and other officers involved in procurement activities in NASENI System-wide. The Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu will deliver…
Francesca Odimgbe The Lagos State Government has reiterated the Babajide Sanwo-Olu’s administration commitment to food security in the State, as well as empowering the creative youths to showcase Lagos projects to the global map. The State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, spoke during the final of the Eko Flavours food competition held at the Fresh Food Hub Idi Oro, Mushin area of Lagos State. Olusanya applauded the participants for their creativity and innovative ideas in bringing their culinary skills to the fore, noting that the competition is in line with Governor Babajide…
Joseph Bakare President Bola Ahmed Tinubu has encouraged every Nigerian to work as a formidable force against economic and financial crimes and other acts of corruption. He gave the charge in Abuja on Monday, October 7, 2024 while declaring open the 6th Economic and Financial Crimes Commission, EFCC- National Judicial Institute, NJI’s Workshop for Justices and Judges. The President pointed out that corruption had become a cancer denying the nation the full benefits of its God-given resources and for its corrosive effects to be destroyed, Nigerians must rise up combatively against it. “ No Nigerian is immune from corruption, a cancer which…