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Peg Dollar Rate At N750/$1, Gas Suppliers Urge Federal Govt

Peg Dollar Rate At N750/$1, Gas Suppliers Urge Federal Govt

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The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has urged the federal government to tame the worsening exchange rate crisis, by adopting the N750/$ 2024 Budget exchange rate benchmark as its official exchange rate. he association also urged the federal government to ensure that payments for petroleum products are made in naira, as part of measures to address the continued rise in prices of petroleum products. National president of the association, Benneth Korie, stated this during a press briefing in Abuja on Tuesday. According to him, most Nigerians have made dollar their main currency used in trading, adding that the rise in exchange rate was a major challenge to the modular refineries in the country. He blamed the rising cost of diesel and the high dollar ...
Closing Nigeria’s Energy Deficit Gap Remains Top Priority – NNPC

Closing Nigeria’s Energy Deficit Gap Remains Top Priority – NNPC

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Despite the various obstacles facing the country such as insufficient investment and multiple taxes, the Nigerian National Petroleum Company (NNPC) Limited has expressed its commitment to filling the energy deficit gap and contributing significantly to wealth creation in Nigeria. The group chief executive officer of the  NNPC, Mele Kyari, during his presentation at the Ministry of Finance Incorporated (MOFI) Public Wealth Management Conference in Abuja, on Tuesday, said no public wealth creation endeavour can achieve any meaningful success without energy security. The GCEO noted that all other wealth creating activities such as agriculture rely heavily on one form of energy or the other to thrive. “If you don’t have energy, you don’t have agriculture. You can do all the a...
Food Security: 250 Abuja Farmers Get Federal Govt’s Inputs Support

Food Security: 250 Abuja Farmers Get Federal Govt’s Inputs Support

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The Federal Ministry of Agriculture and Food Security yesterday distributed agri-inputs to 250 farmers in the Federal Capital Territory (FCT ). The empowerment programme which is under the National Poverty Reduction with Growth Strategy (NPRGS) aimed to address poverty at its roots, while emphasising the role farmers and agriculture play in economic growth, development and food security. The inputs distributed include; agro-chemicals, improved seeds, fish and poultry feeds, sprayers among others to crop, fish and poultry enumerated farmers in Gwagwalada, FCT. At the event which was held at the Agricultural Development Programme (ADP)  headquarters, Gwagwalada, the ministry’s Permanent Secretary, Temitope Fashedemi, said that the empowerment was part of the federal government...
Fixing Gas Supply Issues Will Boost Industrialisation – Elumelu

Fixing Gas Supply Issues Will Boost Industrialisation – Elumelu

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The Chairman, Heirs Holdings Group, Transcorp Group and United Bank for Africa (UBA) Group, Mr Tony Elumelu has stressed the need for the country to fix its gas supply issue to be able to power its industrialization dreams. This is as he urged the government not to look for immediate gains from its state owned assets. Elumelu stated this while speaking at the Ministry of Finance Incorporated (MOFI) Public Wealth Management Conference in Abuja yesterday. According to him, there is no rush to see immediate profits; “we must have that mindset if we are to fully unlock the value contained within these state-owned assets. First set the strategic intent, prepare the milestones, know how you will be judged, and then execute, execute, execute – with discipline and always with that strategic...
Federal Govt Finally Hands Over Zungeru Power Plant To Concessionaire

Federal Govt Finally Hands Over Zungeru Power Plant To Concessionaire

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The federal government has officially transferred operations of the Zungeru Hydroelectric Power Plant to Penstock Limited. This is expected to boost the country’s electricity generation capacity by 700 megawatts when it begins operations. The move is expected to boost Nigeria’s power generation capacity and contribute significantly to meeting the country’s growing energy demands. This was disclosed on Tuesday during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja. Speaking at the meeting, Vice President Kashim Shettima in a statement by his spokesman, Stanley Nkwocha disclosed plans by the Federal Government to recapitalize and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector ...
Kano unseals 10 warehouses accused of hoarding foodstuffs

Kano unseals 10 warehouses accused of hoarding foodstuffs

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The Kano State Public Complaint and Anti-Corruption Commission said on Tuesday that it had unsealed the 10 warehouses sealed last week for alleged hoarding of foodstuffs. The chairman of the commission, Muhyi Magaji, told us in a telephone interview that the owners of the warehouses had shown up and they were directed to open and sell to the public. Magaji said, as a result, Kano had begun to witness a drop in the prices of foodstuffs. He said, “The action taken by the commission has forced the dealers to bring the commodities to markets as well as reduce their prices. “The owners were issued a notice to report to the commission preparatory to facing charges before the court of law for their illegal activities.” According to Muhuyi, the operation made a significant impact t...
SANWO-OLU ADDRESSES LAGOSIANS ON THURSDAY

SANWO-OLU ADDRESSES LAGOSIANS ON THURSDAY

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What plans does the Lagos State Government have for its citizens in these tough times? How fares the journey to a Greater Lagos - In food security, the environment, health, physical planning, infrastructure and others? These and many others are some of the questions which Mr. Governor, Babajide Sanwo-Olu, will address on Thursday in a Media Chat. The time is 11:15 am He will be answering questions from frontline journalists drawn from Channels TV, Arise, TVC, and LTV.  The interaction will also be aired live by some radio stations, including Lagos Traffic Radio 96.1 FM and Eko FM 89.7. Mr. Sanwo-Olu will announce some key policies on the welfare of all Lagosians. “We will let our people know what we have done and what we will be doing about their welfare, their lives a...
FG Moves to Placate Petroleum Tanker Owners, Meeting to Continue Today

FG Moves to Placate Petroleum Tanker Owners, Meeting to Continue Today

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The federal government will continue its peace meeting with the Nigerian Association of Road Transport Owners (NARTO) today after the first move to resolve the strike action embarked by the union failed yesterday. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,  convened the meeting with NARTO, oil marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in his Abuja office to end the strike. However, when the consultation with the stakeholders started, journalists were excused, but it was learnt that the meeting was deferred till today after the actors failed to arrive at a resolution. But we observed that many filling stations had closed shop in the Federal Capital Territory (FCT), leading to long queues b...
NASENI, Caverton Sign Pact To Establish Drone Assembly Plant, Training School

NASENI, Caverton Sign Pact To Establish Drone Assembly Plant, Training School

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The National Agency for Science and Engineering Infrastructure (NASENI) and the tour of Caverton Offshore Support Group (COSG) Plc have signed a memorandum of understanding (MoU) for the establishment of a Drone Assembly Plant, a Drone Training School, and a Service Center for Helicopters, in the country. The agreement was signed in Lagos, yesterday, by the executive vice chairman and chief executive officer, NASENI, Khalil Suleiman Halilu and chief operating officer of Caverton Offshore Support Group, Rotimi Makanjuola on behalf of both organisations, following a tour of the Caverton maintenance repair and overhaul (MRO0 facilities by the NASENI boss. Halilu lauded Caverton Helicopters for placing Nigeria and Africa on the global map among the committee of reliable, dependable, and...
Women In Energy To Lead Conversations On Breaking Barriers At 2024 Summit

Women In Energy To Lead Conversations On Breaking Barriers At 2024 Summit

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The Nigeria International Energy Summit (NIES) has announced integration of the Women in Energy Roundtable as a central pillar of its highly anticipated 7th edition, set to unfold from February 26th to March 1st, 2024. The session, scheduled for February 27th, 2024, at the International Conference Centre (ICC), Abuja, is poised to serve as a catalyst for transformative dialogue, offering women professionals in the energy sector a vital platform to share experiences, foster inclusivity, and champion gender diversity. The Women in Energy Roundtable promises an invigorating exploration of the multifaceted experiences of women across diverse roles within the energy landscape. By illuminating the pivotal themes of inclusivity, mentorship, and leadership development, the Roundtable is ...

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