In with Section 20(3) of the CBN Act 2007, the President said, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
The Premium Grid model, developed the Nigerian Energy Support Programme (NESP),combines franchising projects and embedded generation in ring-fenced areas for supplying reliable 24/7 electricity to customers.
NAEC ,therefore, recommends that NNPCL should ensure a transparent subsidy system that will allow the supply figures and cost templates that provide basis for subsidy claims to be verifiable.
He noted that the the Mini Bid Round is a market-driven programme expected to outperform the last bid round which held in April 2007 during which a total of 45 blocks were put on offer under a different regulatory regime (the Petroleum Act, 1969).
It said the discovery was in continuation of its oil exploration activities in the country’s inland basins, adding that it would spud the first oil well in Nasarawa State in March 2023.
A dedicated programme portal (br.nuprc.gov.ng) for the Mini Bid Round has been published by NUPRC which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants.
“We have partnered with credible investors to develop critical projects in the sector to take Nigeria towards the goal. It is worthy of note that 70 percent of our investments are on gas-based activities, especially midstream and downstream gas. Our investments underscore the importance of gas to Nigeria’s economic sustainability, apart from its role in the energy transition,” he said.
We once again laud President Tinubu for his bold vision and stand ready to collaborate with his administration in its effort to promote greater economic equality and prosperity for all Nigerians.
