Sunday, October 1, 2023

Kayode Ekundayo


TotalEnergies’ Ikike Field begins crude oil production

Located 20 kilometers off the coast, at a depth of about 20 meters, the Ikike platform is tied back to the existing Amenam offshore facilities through a 14 km multiphase pipeline. It will deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022.

CBN Clarifies Stand on Illicit Conversion of Currency

According to Nwanisobi, the warning by the CBN Governor was to those who sought to convert the Naira from their accounts into foreign exchange for election campaign and not those who seek to exchange the currency for legitimate purposes such as payment for tuition and other personal expenses.

TCN Restores power, says collapse was due to drop in frequency

According to reports obtained from the National Control Centre (NCC), it was precipitated by the tripping of a Unit (with a load of 106 MW) in one of the generating stations due to "Exhaust over Temperature".

Nigeria’s power generation drops to 40MW, as system collapses again

Allocations to the 10 electricity distribution companies were zero, except 40MW and 10MW to Abuja and Ibadan Discos respectively at 12:23 pm when the incident occurred.

NNPC releases new pump prices of petrol, Lagos N169, Abuja N174

A breakdown shows that in the Southwest a pump price goes for N179 from N165 per liter, an increase of N14/liter, North West N184 per liter, an increase of N19/liter, North East N189/liter, N24/liter increase, South South N179/liter, an increase of N14/liter.

Nigeria begins implementation of Siemens’ power contract, pays $100m

The contract is to see the eventual ramp up of the country’s generation capacity to 25,000 megawatts by 2025 and create at least 11,000 direct and indirect jobs.

BPE pre-qualifies 16 firms for Five NIPPs

The Bureau of Public Enterprises (BPE) has pre-qualified 16 companies for the privatization of five National Integrated Power Projects (NIPPs).

Completion of $700m ANOH Gas will boost Nigeria’s power supply- SEPLAT

The chief executive officer, Seplat Energy, Roger Brown, has said that completion of $700 million the Assa North-Ohaji South Gas project (ANOH)...

No basis for takeover of Benin Electric -management

“There is no contractual, statutory or regulatory basis for such.” The statement added that, “For the avoidance of doubt, the shares of BEDC have not been given as security to Fidelity Bank or to any other party.”

Large Crowd witness Barkindo’s burial

Late Barkindo was appointed OPEC Secretary-General in 2016. He was the fourth Nigerian to hold that position and the 28th person in the role overall.


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Emefiele meets Tinubu at Aso Rock

Wale Edun, former Lagos Finance Commissioner; and James Faleke, a House of Reps member, were also at the villa.

Oil marketers endorse fuel subsidy removal, pledge minimal adjustments 

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.

Firm unveils 20KG composite cooking gas cylinders to Nigerian Market

According to him, the 20kg LPG cylinder goes for N75,000 due to increase in foreign exchange and is also more competitive.

Allegation of illegal sale of 48m barrels of crude false, Malami insists

Recall that the minister took the same position when he first appeared before the panel on April 27, 2023 to give testimony.