Energy
Decline in NNPC Dividends to Federation Account After Petroleum Industry Act Implementation
Economy Energy

Decline in NNPC Dividends to Federation Account After Petroleum Industry Act Implementation

Dividends from the Nigerian National Petroleum Company (NNPC) Limited to the federation account have dropped significantly following the full implementation of the Petroleum Industry Act (PIA), with crude oil and gas sales earnings through joint venture (JV) assets plummeting from $11.9 billion to $1.83 billion. This sharp decline was revealed in the Agora Policy Report, […]

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Federal Government CNG Initiative of Distributing 2,000 Tricycles for Nigerian Youths to Launch on October 1st
Energy Sectors

Federal Government CNG Initiative of Distributing 2,000 Tricycles for Nigerian Youths to Launch on October 1st

Starting October 1, 2024, the Federal Government, through the Presidential Compressed Natural Gas Initiative (PCNGi), will begin distributing 2,000 Compressed Natural Gas (CNG)-powered tricycles to young Nigerians in the transportation sector across the country. This initiative is part of the government’s strategy to promote more affordable and eco-friendly transportation solutions. The PCNGi announced the program […]

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Dangote Refinery’s Petrol to Hit Nigerian Market Exclusively Through NNPC Starting September 15th
Economy Energy Market

Dangote Refinery’s Petrol to Hit Nigerian Market Exclusively Through NNPC Starting September 15th

Nigeria’s state-owned oil company, NNPC Limited, will begin distributing gasoline from the 650,000 barrels-per-day Dangote Refinery to the local market this Sunday, following the resolution of key disputes over offtake rights and pricing. This comes after the $20 billion refinery, constructed by Africa’s richest man, Aliko Dangote, began processing gasoline last week. Initially, distribution had […]

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Namibia Partners with Chinese Firms to Build Its Largest Solar Power Plant for $89 Million | Business Verge NG
Energy Partnerships

Namibia Partners with Chinese Firms to Build Its Largest Solar Power Plant for $89 Million

Namibia has taken a big step toward energy independence by partnering with two Chinese companies to build the country’s largest solar power plant. The project, worth $89 million (N$1.6 billion), will be constructed by China Jiangxi International Economic and Technical and Zhejiang Chint New Energy Development. Project Overview: The plant will be located in Rosh […]

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Economy Energy

Nigeria’s First Floating LNG Plant Set for Construction

Nigeria is taking a major step towards expanding its natural gas sector. UTM Offshore Ltd. has been granted a license to build the nation’s first-ever floating liquefied natural gas (LNG) facility, which is expected to produce 2.8 million metric tons per year.  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) issued the license, marking […]

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Economy

Yes, Nigeria’s $19 Billion Refinery is a Really Big Deal for 1.4 Billion Africans

In September 2013, Nigerian billionaire Aliko Dangote announced that he had secured about $3.3 billion in financing for the development of the “largest single-train refinery in the world”. Projected to cost $18.5 billion-plus, the mega-refinery was going to grow from the bustling heart of Nigeria’s economic landscape, redefine the nation’s energy landscape and extend its […]

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Energy

Eterna Plc Secures Official Distributorship of Dangote Petroleum Refinery Products in Nigeria

Eterna Plc has been named the official distributor for domestic sales of Dangote Petroleum Refinery products in Nigeria. This strategic move underscores Eterna’s commitment to bolstering product supply, marked by substantial investments in trucking through vehicle acquisitions and partnerships with third-party transportation providers. The appointment solidifies Eterna’s reputation for excellence and unwavering dedication to customer […]

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Career Moves

Eterna Plc Appoints Aliu Kamiyo as CFO to Drive Financial Excellence and Strategic Growth

Eterna Plc’s Board has officially appointed Mr. Aliu Kamiyo as the Chief Financial Officer (CFO), effective from January 16, 2024. The announcement follows the resignation of Mr. Abdukerimu Sule. Aliu Kamiyo, previously the Head of Finance at Eterna Plc since November 2020, now takes on the crucial role of CFO. Aliu Kamiyo brings a wealth […]

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