Yemisi Izuora Dangote Petroleum Refinery & Petrochemicals has reviewed downwards the cost of its diesel product to N1,020 per litre from N1,075 per litre in an effort to better serve its customers and Nigerians in general. Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike. The latest reduction of N55 per litre for diesel follows the revelation by Development Economist and Public Policy Analyst, Prof. Ken Ife, that the Dangote…
Author: orientalnewsng
Uche Cecil Izuora Nigeria and India are set to collaborate in Nigeria’s quest to accelerate its energy transition plans The was disclosed by Taraba State Governor, Agbu Kefas, on the sidelines of the India Energy Week. Other than funding, Nigeria plans to seek technical assistance from India to implement its green energy plans, Kefas, told Reuters. “(The) world is moving towards green energy and we also have to move along. But the challenges we have is the funding to be able to meet up with this,” Kefas said. India is ramping up its non-fossil fuel capacity, planning to connect a…
Yemisi Izuora Indications have emerged that the Africa Energy Bank (AEB) which will fund oil and gas projects and support the continent’s energy transition goals, will be unveiled in the first quarter of 2025 The Bank targets an asset base of $120 billion and will be headquartered in Nigeria. The fossil fuel-focused bank, a partnership between trade finance institution Afrexim Bank and the African Petroleum Producers Organization, was due to start operations by mid-2024, an Afreximbank official said last year. The Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, who dropped the indication in Lagos, said the building is…
Uche Cecil Izuora The Federal Government and key Petroleum Products marketers have proposed new measures to that will help curb rising cases of road accidents involving petrol tankers. The recent incidents of road accidents resulting in cremation of hundreds of lives and causing extensive damage to properties was the focus of discourse organised by Mejor Energy Marketers Association of Nigeria (MEMAN) in Lagos on Thursday. The theme of the discourse “Improving Safe Transportation of Petroleum Products.” attracted top government officials, regulators, and industry stakeholders who shared critical insights on enhancing safety in petroleum logistics. In his address at the forum,…
Yemisi Izuora The Nigerian National Petroleum Company Limited (NNPCL) and First Exploration & Petroeum Development Company Limited (First E&P) Joint Venture (JV) has successfully achieved 96 per cent reduction in routine flaring of associated gas (AG) from the Anyala (OML 83) and Madu (OML 85) fields. This is seen as a significant stride towards supporting Nigeria’s commitment to reducing greenhouse gas emissions by 20 per cent unconditionally and 47 per cent conditionay, as stipulated in the Nationally Determined Contributions under the Paris Agreement. This remarkable milestone was attained through the implementation of an AG reinjection strategy into a designated underground…
Yemisi Izuora There are strong indications suggesting that most parts of Southern Nigeria will witness early rainfall that could possibly be heavy in nature. This is revealed as the Minister of Aviation and Aerospace Development, Festus Keyamo SAN, on Tuesday, 4th February 2025 in Abuja, unveiled the 2025 Seasonal Climate Prediction (SCP) by the Nigerian Meteorological Agency (NiMet) to the public. Themed ‘The Role of Early Warnings towards a Climate Resilient Aviation Industry for Sustainable Socio-Economic Development’, the SCP document predicts that most parts of the country will experience significant rainfall events at the beginning of 2025, and these rains…
Yemisi Izuora Former Director General (DG) of the National Pension Commission (PenCom) Chinelo Anohu has lost her father, Chief Mathias Anohu. Sir Victor Anohu, announced the demise of Chief Anohu on Friday on behalf of the family. The statement read, “With profound gratitude to the Almighty God for an exceptional sojourn on earth, the Anohu Family of Umuezedam Ubahu Okija announces the passing of their beloved patriarch, Chief Dr. Mathias Chidi Anohu. He joined the saints on Monday, January 6, 2025, at the age of 84. “A distinguished pharmacist, accomplished public servant, and statesman, Chief Dr. Mathias Chidi Anohu dedicated…
Yemisi Izuora Access Holdings Plc, has announced the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc, effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’). This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board. Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors,…
Yemisi Izuora Oando Plc, has announced a strong financial performance for the Full Year (FY) 2024 with a 45 per cent growth in revenue to N4.1 Trillion compared to N2.9 Trillion in FY 2023 results. Oando Plc, is Africa’s leading integrated energy company listed on both the Nigerian Exchange Grpup (NGX) and Johannesburg Stock Exchange (JSE). The company’s 2024 performance showcases a consistent upward trajectory following its announcement of N65.5 billion in profit after tax. Speaking on the results, Group Chief Executive, Oando PLC, Wale Tinubu CON, commented, “2024 was a year of transformation for Oando, the key highlight being…
Yemisi Izuora In a continued effort to improve the health and well-being of Nigerians, the NNPC Ltd/FIRST E & P Joint Venture (JV) has conducted its 2025 health outreach program across eleven KEFFESO communities in Bayelsa State. This initiative, part of the company’s Corporate Social Responsibility (CSR) and in line with the provisions of the Petroleum Industry Act (PIA) 2021, underscores its commitment to addressing critical healthcare challenges in host communities. KEFFESO comprises Koluama 1, Koluama 2, Ezetu 1, Ezetu 2, Foropa, Fish Town, Ekeni, Sangana, Opu Okumbiri, Okumbiribeleu, and Oginibiri communities. Thousands of residents benefited from the program, which…