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Marketers, Not FG Responsible For Abuja Fuel Queues - Sylva

Marketers, Not FG Responsible For Abuja Fuel Queues – Sylva

July 7, 2022 3:49 am

The Minister of state for petroleum, Timipre Sylva on Wednesday asserted that marketers are to blame for the long queues for fuel in the nation’s capital while also absolving the Federal Government of any guilt.

Speaking to reporters after the weekly Federal Executive Council (FEC) meeting on Wednesday, Sylva asserted that the NNPC has a very good supply of the product at the moment hence the queues and scarcity were unexplainable.

‘Frankly, it is not a supply issue, as you can also confirm. So it’s not from us. But you know When you have an arbitrage opportunity, people will tend …

Good News For Investors As Naira Rises Again - Report

Naira Crashlands As It Hits ₦430 From ₦422.71 Per Dollar

July 6, 2022 9:14 am

Things do not seem to be looking upwards for the Nigerian Naira as it has continued to crashland after it recorded another massive fall in the official market on Tuesday, while losing 0.9 per cent to the dollar.

FMDQ had already published data at the beginning of trading on Tuesday showed that the Nigerian Currency opened at ₦422.71 but closed at ₦430.00 to a dollar at the end of the trading window for the day, which came out to be representing a ₦4.25 or 0.99 per cent devaluation from ₦425.75 recorded in the previous market day.

Read Also: Deeper Waters

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Constant Power Failure Five Discos Will Be Restructured -FG

Power Failure: Five Discos Will Be Restructured, FG Confirms

July 6, 2022 6:59 am

The federal government of Nigeria has announced the restructuring of five electricity distribution companies, also known as DISCOs, in the country to improve the power sector.

This decision was contained in a statement jointly signed on Tuesday by the Executive Chairman of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba, and Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh.

According to the statement which was sighted by Africa Daily News, New York on Wenesday, the affected companies are Kano Electricity Distribution Company (KEDCO), Ibadan Electricity Distribution Company (IBEDC), Benin Electricity Distribution Company (BEDC), Kaduna Electric, and Port Harcourt …

Ecobank Partners Basketmouth To Reel Out “Papa Benji” S3

Ecobank Partners Basketmouth To Reel Out “Papa Benji” S3

July 3, 2022 6:10 pm

One of the foremost financial instutions in Nigeria, Ecobank Nigeria has announced that they would be partnering in the reeling out of the Season 3 of Papa Benji, the comedy web series which it has been sponsoring in partnership with popular comedian and filmmaker, Bright Okpocha better known by his stage name Basketmouth.

The bank has also explained that its main aim in sponsoring the comedy is to promote the African entertainment industry.

‘Papa Banji’ is a popular free-to-watch comedy web series showing on YouTube and can be viewed across the globe.

Read Also: Paul Okoye’s Estranged Wife Files For

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UK Set To Invest N12bn In Nigerian Start-Up, Moove

UK Set To Invest ₦12bn In Nigerian Start-Up, Moove

July 1, 2022 5:29 am

The Development Finance Institution (DFI) of the UK government in collaboration with the British International Investment (BII) has announced the approval of a $20m (₦ 12 billion) 4-year structured credit investment in Nigerian mobility fintech start-up known as Moove.

BII, formerly known as CDC Group, revealed that the investment reflected its focus on mobilising capital to build self-sufficiency as well as market resilience in Nigeria and improve access to inclusive economic opportunities while helping to catalyse the country’s boundless entrepreneurial ambition.

The funding is expected to be utilised by Moove to purchase and import brand new fuel-efficient cars into Lagos, …

Jefrandos Engineering Solutions: Expertise Meets Excellence

Jefrandos Engineering Solutions: Expertise Meets Excellence

June 26, 2022 5:33 pm

Engineering is a part of our everyday life that we always see, touch and notice from electronics to chemicals and other advanced forms of engineering. And this is why the aspect of engineering solutions is something that should always be taken seriously.

Top-notch Engineering solutions nowadays does not come cheap and no one wants to take their businesses to a mediocre agent to avoid being swindled. This is where Jefrandos Engineering Solutions comes in. An engineering outlet that gives you your value for your money’s worth combined with top-notch service and a satisfactory result, thanks to their team of well-experienced …

Oil Theft: PENGASSAN Fingers Military, Other Top Security Officers

Fuel Scarcity In Nigeria: PENGASSAN Finally Makes Their Case

June 22, 2022 2:31 pm

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr Festus Osifo, has finally opened up about the reasons for the ongoing fuel scarcity across the country, particularly in Lagos and Abuja as petitions for their probe gets to an all time high.

Speaking during an interview on Channels Television’s Sunrise Daily, the PENGASSAN boss had highlighted the issue of ‘bridging funds’ between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and truck drivers who deliver the Premium Motor Spirits (PMS).

Read Also: PENGASSAN Vows To Address Casualisation In Oil, Gas Industry

Osifo said,

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We Can't Handle ₦165/litre - IPMAN Reveals Stance On Fuel scarcity

We Can’t Handle ₦165/litre – IPMAN Reveals Stance On Fuel scarcity

June 21, 2022 7:43 am

While reacting to the news of harsh fuel scarcity in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has finally given a tangible explanation as to why there is fuel scarcity in Lagos and other parts of the country.

Akin Akinrinade who is the Lagos Zonal Chairman of IPMAN had in an interview with Channels Television,  insisted they were not on strike.

Akinrinade noted that the operating environment has become hostile to their businesses.

Read Also: IPMAN Reveals Real Reason Behind Current Fuel Scarcity

He also insisted the marketers had not embarked on strike as speculated.

“Members of

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Nigeria Withholding $450m Belonging To Foreign Airlines -IATA

Nigeria Withholding $450m Belonging To Foreign Airlines -IATA

June 21, 2022 5:40 am

The International Air Transport Association (IATA) has revealed that Nigeria is holding back about $450 million in revenue earned by foreign airlines operating in the country.

Vice President for Africa and the Middle East, IATA, Kamil Al Awadhi, made the remark yesterday at the opening of its 78th annual general meeting and world air transport summit in Doha, Qatar.

‘A financially viable air transport sector supports jobs and must be a driving force for Africa and the Middle East economic recovery from COVID-19,’ Al Awadhi said.

Read Also: Federal Govt Moves To Sanction Airlines Over Flight Delays

‘A priority …

Majority Of China's Oil Come From Russian Reserves - Report

Majority Of China’s Oil Come From Russian Reserves – Report

June 20, 2022 6:46 pm

Fresh analysis has revealed that China has increased their number of crude oil imports from Russia in May according to their customs data which has also helped to offset some of the losses from Western nations while trying to scale back Russian energy purchases over the invasion of Ukraine.

This recent spike in the oil trade between the two nations has also shown that Russia will be overtaking Saudi Arabia to become China’s top oil provider as the West places stringent actions on most of Moscow’s energy exports.

The world’s second-biggest economy imported around 8.42 million tonnes of oil from …

FG Orders DisCos To Resume Free Metre Distribution

Power: FG Orders DisCos To Resume Free Metre Distribution

June 20, 2022 6:35 am

The Federal Government of Nigeria has given instructions to electricity distribution companies to resume the Metre Assets Providers programme, recently slowed down by the National Mass Metering Programme.

Although the DisCos’ MAP has been in place for some time, Vice President Yemi Osinbajo’s NMMP initiative was launched in 2020 to address the Nigerian Electricity Supply Industry’s (NESI) large metering gap.

FG’s NMMP intervention in Phase 0 covered almost 800,000 households, whilst the MAP had barely reached 400, 000 houses by 2020.

Garuba Sanusi, Chairman of the Nigerian Electricity Regulatory Commission, announced last week that Phase 1 of the Federal Government’s …

NCC Grants Over ₦500m For Research To Nigerian Universities

3R Seals Deal On Revenue Assurance Solutions With NCC

June 19, 2022 8:55 pm

In a fresh development, the Nigerian Communications Commission (NCC) has announced that it has finally signed and sealed a Public-Private Partnership (PPP) agreement with one of its consultants, the 3R Company Nigeria Limited, which would be in charge of the handling of  the execution of the Revenue Assurance Solutions (RAS) to strengthen and manage the integrity of the revenue generation process in the Nigerian telecommunications industry.

The agreement-signing ceremony which had taken place at the Commission’s Head Office, Abuja on Friday, June 17, 2022, was attended by some of the representatives of the Infrastructure Concession and Regulatory Commission (ICRC).…

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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