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.
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.
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".
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.
“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.”