News

Chairman of Forte Oil Plc., Femi Otedola has announced his exit from the petroleum marketing company to narrow his focus and interest on a power generation business, following the sale of  the entirety of his 75 per cent direct and…
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The Vice President, Prof. Yemi Osinbajo, says the Federal Government is discussing with stakeholders on ways to restructure Nigeria’s power sector with a view to improving supply and attracting more investment to the country. Osinbajo…
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NNPC gas pipeline explodes Tuesday off the Lagos-Ibadan Expressway, causing panic among motorists, residents and traders within the vicinity. Gas pipeline belonging to the Nigerian National Petroleum Corporation exploded on the…
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Nigerian Civil Aviation Authority (NCAA) Tuesday said it will commence the immediate demolition of 8,805 telecommunication masts belonging to Globacom Nigeria Limited, banks and other financial institutions. Its spokesman, Sam…
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...NEC meets Thursday in Abuja Govervors are set to push for a major overhaul of the nation’s security architecture, it was learnt yesterday. A National Economic Council (NEC) meeting is to hold tomorrow. It will discuss the mounting…
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A consortium of seven local and international lenders has signed an agreement to refinance Neconde Energy Limited’s existing Senior Secured Medium-Term Loan Facility Agreement worth $640 million, following a 20-year renewal of its Oil…
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In continuation of its war against crude oil theft and pipeline vandalism in the Niger Delta, the Nigerian Navy (NN) on Tuesday said over 50 illegal refineries have been destroyed in the past 32 days around Yeye, Burutu and Ibafa creeks in…
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The National Engineering and Technical Company Limited (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a profit of N6.75 billion after tax for the year ended 31st December, 2018. Malam Bello…
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Tuesday said the management targets to reduce crude oil production cost from the current $27 per barrel to $20 in its strategic effort…
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The Chairman of the Progressives Governors Forum, Atiku Bagudu, has said governors are grateful to President Muhammadu Buhari for the release of about two trillion naira to the 36 states of the federation. Bagudu stated this when he…
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