The Nigerian National Petroleum Company Limited (NNPC) has disclosed that the country will export Premium Motor Spirit by mid-2023 as local refining capacity is set to jump to 1.1 million barrels per day. Group Chief Executive Officer of the commercialised entity, Mele Kyari, told the international community virtually at the 13th Global UAE Energy Forum that the country will also increase crude oil production to 2.2 million barrels per day. According to Kyari, “Security challenges around oil operations in the country became very manifest early on in 2022 and we took steps to bring back production, which has paid off.…
Author: Elvis Eromosele
The West African Examination Council (WAEC) said that the introduction digital WAEC certificate will simplify the admission process for many Nigerians seeking to school abroad. According to the WAEC, the system will also remove any doubt on certificates presented by Nigerians. The Head of Nigeria National Office for WAEC, Patrick Areghan, stated this on Friday during a webinar organized in partnership with UK-based Recognition Agency, ENIC. According to him, the digital certificate initiative would support the mobility of students moving from Nigeria to other parts of the world. WAEC revealed that about 30 million certificate holders who wrote the West…
Barring unforeseen, President Muhammadu Buhari of Nigeria will officially commission the Dangote Oil Refinery, the largest vertically integrated petrochemical complex in the world on January 24, 2023 The refinery, which is situated in Lagos’ Lekki Free Zone, is owned by Africa’s richest man Aliko Dangote. It has a daily processing capacity of 540,000 barrels of Nigerian crude oil. The $19 billion project is a calculated move by Dangote and the Nigerian government to develop the nation’s downstream sector and turn it into a net exporter of petrochemicals and refined petroleum products by 2026. Reports indicate that the refinery is anticipated to…
The Independent National Electoral Commission (INEC) has extended the deadline for the collection of Permanent Voters Cards (PVCs) until Sunday, January 29, 2023, in an apparent response to appeals from well-meaning Nigerians. The electoral umpire earlier fixed the collection deadline as Sunday, January 22, 2023. But following a meeting on Thursday, INEC said it has pushed the deadline by eight days. “The Commission is determined to ensure that registered voters have ample opportunity to collect their PVCs ahead of the forthcoming election. For this reason, the timeframe for the collection of PVCs is extended by eight days,” INEC National Commissioner…
Sahara Foundation and Lagos State Employment Trust Fund (LSETF) have announced a strategic partnership geared towards rolling out a series of recycling exchange hubs across 12 Local Government Areas in the state. This project, which is being implemented by Wecyclers, a social enterprise with expertise in recycling, is aimed at promoting responsible environmental stewardship and encouraging the adoption of recycling as a socio-cultural practice to drive desired behavioral change in waste management in the state. In line with the Sustainable Development Goals 11 and 17, which speaks to Sustainable Cities and Communities, and Partnerships for the Goals, the tripartite partnership…
Operators in the manufacturing, power, and digital industries may face harsher rules in this year for the benefit of consumers, the Federal Competition and Consumer Protection Commission (FCCPC) has revealed. According to the Vice Chairman/CEO, FCCPC, Mr Babatunde Irukera, there would also be increased collaboration, particularly with the National Agency for Food and Drug Administration and Control, the Standards Organisation of Nigeria, and others to strengthen the commission’s regulatory authority. In a statement, Irukera said that the FCCPC started a more thorough investigation and examination of the actions of the digital lenders, the fast-moving consumer goods industry, and the electricity…
Germany’s Federal Ministry for Economic Cooperation and Development is contributing Euro 2.85 million to the Standards and Trade Development Facility over a period of four years (2022-2025). The fund is to facilitate safe and inclusive agricultural trade in developing and least-developed countries aimed at helping them to meet international food safety, animal, and plant health standards. The World Trade Organisation Director-General, Dr Ngozi Okonjo-Iweala was quoted in a statement as saying, “I thank Germany for its generous and longstanding support to developing countries and LDCs in strengthening their compliance with sanitary and phytosanitary measures. “When farmers are empowered to meet…
Airtel Nigeria on Monday announced the acquisition of 5G spectrum and an additional spectrum for its 4G network for a total sum of $316.7 million. The firm’s shares climbed 5.2 per cent to N1,630 per unit on the Nigerian Stock Exchange at 13:28 WAT after the news hit the market, pushing its market value above N6.1 trillion, the biggest by any publicly traded company in the country. According to a statement by the local unit of Airtel Africa, the decision is part of its commitment to deepen higher-speed connectivity in Nigeria by way of 5G cellular technology. The company said…
The Transmission Company of Nigeria (TCN) has taken delivery of two brand new 150 MVA, 330/132/33kV power transformers and accessories at its Central Store, Ojo, Lagos State. General Manager, Public Affairs, TCN, Ndidi Mbah, in a statement, said that the two 150MVA power transformers and accessories were delivered to the store from the Tincan Island Port, Apapa, Lagos. According to her, TCN also has another two 150MVA power transformers awaiting delivery to the store in Ojo at the Lagos port even as it is expecting the arrival of different capacities of transformers and accessories to berth at the port very…
A Pension Fund Administrator (PFA), Premium Pension Limited, has strengthened its financial position in the pension industry, as its Assets Under Management (AUM) increased by over N1 trillion. The firm’s Head, Corporate Communications, Aliyu Mohammed Ali, disclosed this at the weekend. He said the firm is among three PFAs out of a total number of 19 that are in the trillion-AUM category. According to him, Premium Pension is the first indigenous-owned PFA to attain over N1 trillion AUM without any form of the business combination. He stressed that the firm prides itself as a pacesetter on several performance metrics. One…