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The Nigeria Electricity Regulatory Commission (NERC) has introduced a power outage reporting system through an app to tackle customer complaints and power disruptions. The app aims to monitor and ensure compliance with set tariffs by distribution companies (DisCos). NERC's chairman, Sanusi Garba, highlighted that the app aligns with the commission's mandate of protecting consumer rights and establishes timelines for DisCos to address customer complaints. The app will also aid in the nationwide installation of smart meters for accurate and real-time data.
Eni and Oando PLC have signed an agreement for the transfer of Nigerian Agip Oil Company Ltd (NAOC Ltd), an Eni subsidiary operating in Nigeria's onshore hydrocarbon exploration and production sector. As part of the deal, Enilive, a new brand of Eni Sustainable Mobility, focusing on biorafinnation, biogas, and smart mobility, has been established in Italy. This article provides an overview of the agreement and highlights Eni's commitment to sustainable energy solutions.
Latest news summary in Nigeria
The Abia State Governor, Dr. Alex Otti, has commissioned the reconstructed Umuokomiri - Obehie ring road in Ukwa West. The road, reconstructed by the Abia State Oil Producing Areas Development Commission (ASOPADEC), has been completed within a short period. The Governor plans to leverage the presence of gas in Ukwa to generate electricity and also initiate a ground breaking ceremony for the Abia Innovation and Industrial Park in Owaza.
Anambra State Governor, Prof. Chukwuma Charles Soludo, has laid the foundation for a new auto assembly and natural gas facility in Umunya, Oyi local government area. The facility, which will be the second automobile company in the state, aims to boost industrialization, create jobs, and contribute to the economy. Governor Soludo hailed the investment as significant progress for the state and encouraged more investors to consider Anambra as a prime destination for business opportunities.
Anambra State Governor, Prof. Chukwuma Charles Soludo, has signed Memorandums of Understanding (MOUs) with several enterprises during the inaugural investment conference in Awka. This move aims to attract investments to the state and create job opportunities for its citizens. The conference served as a forum for discussing industrialization and highlighting why Anambra State is an attractive investment destination.
The Nigerian Security and Civil Defence Corps (NSCDC) in the Federal Capital Territory (FCT) has apprehended 14 individuals suspected of engaging in criminal activities such as vandalism and scavenging. The FCT Commandant of the NSCDC, Mr. Olusola Odumosu, has vowed to crackdown on criminals in the nation's capital and ensure safety for all residents. These suspects were arrested during routine night patrols in various locations across the FCT.
William Murray, the son of outspoken atheist Madalyn Murray O'Hair, has embarked on a unique journey that spans from atheism to activism. From being a plaintiff in a landmark Supreme Court case to becoming an ordained minister, Murray's path has led him to Nigeria, where he now advocates for religious freedom and helps victims of terrorist attacks. In this article, we delve into Murray's extraordinary life story and his efforts to provide aid to persecuted Christians in Nigeria.
All international airlines operating from the old terminal of Murtala Muhammed International Airport (MMIA), Lagos have successfully relocated to the new Chinese terminal. This move comes as part of the ongoing rehabilitation efforts by the Federal Airport Authority of Nigeria (FAAN). Passengers and stakeholders experienced some inconveniences during the transition, but FAAN assures everyone that measures are in place to ensure a seamless process for travelers.
BUA Cement Plc has announced the approval of a dividend payment of N94.8 billion for the financial year ending December 2022. The announcement was made during the company's 7th Annual General Meeting, where the unaudited Q2 2023 financial results were also revealed. BUA Cement Plc reported a significant increase in profit before tax and profit after tax, showcasing its strong performance in the cement industry. The company's earnings per share for the quarter also showed remarkable growth. The AGM also saw the cancellation of unissued shares and the re-election of non-executive directors.
Nigeria has lost a staggering $46 billion to crude oil theft between 2009 and 2020, severely impacting the country's oil production and revenue. The Speaker of the House of Representatives has expressed concern over the failure of critical agencies in the oil and gas sector to address the issue. The decline in oil production, coupled with global uncertainties, warns of a looming fiscal crisis. An ad hoc committee has been inaugurated to investigate the rampant oil theft and its detrimental effects on the nation.
The recently launched Lagos Light Rail is bringing convenience, comfort, and speed to commuters in Lagos, Nigeria. Constructed by a Chinese firm, the rail system is helping residents overcome the challenges of congested roads and long travel times. With its modern facilities and efficient operations, the Lagos Light Rail is revolutionizing commuting in the city.
The Nigerian National Petroleum Company Limited (NNPCL) has raised concerns about the ongoing onshore asset divestment deal between ENI and Oando. The NNPCL believes that the deal lacks transparency and disregards due process. In a letter to the Managing Director of Nigerian Agip Oil Company Limited, the NNPCL emphasized the need for strict adherence to vital clauses in the Joint Operating Agreement (JOA) to protect joint venture transactions. The NNPCL stated that its consent as a joint venture member was not secured before the divestment deal was initiated, which it considers a gross infraction. This article delves into the potential implications of the ENI-Oando divestment deal and its impact on the oil and gas industry in Nigeria.
Ace Real Estate, a leading real estate development company in Nigeria, recently celebrated its three years anniversary. The company expressed its commitment to delivering quality housing for Nigerians and announced a 10% discount on its Vision City project. Ace Real Estate has earned a strong reputation in the industry for its exceptional services and focus on customer satisfaction.
The Nigerian state oil firm, NNPC, has accused Eni's subsidiary, Nigerian Agip Oil Company (NAOC), of breaching the terms of their joint operating agreement. NNPC claims that NAOC did not obtain its consent before announcing the sale of onshore oil assets to local firm Oando PLC. This development raises questions about the speed and legality of the transaction, highlighting the challenges faced by international oil majors in selling their onshore assets in Nigeria.
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