Author: Julius Alagbe

Egbin Power Reinforces Commitment to Safety as ISPON Certifies Employees Egbin Power has reinforced its commitment to promoting high safety standards and professionalism, as the Institute of Safety Professionals of Nigeria (ISPON) has inducted 28 employees of the GenCo as new members. According to ISPON, the certification further solidifies Egbin Power’s efforts towards promoting high safety standards and building a highly competent workforce equipped with expertise in safety management. During the ceremony organised at Egbin Power Plant, the new members were inducted into the Institute and presented with membership certificates, following the obligatory training, assessment and screening carried out by…

The naira strengthened against the US dollar in the official foreign exchange (FX) market as the gross balance in Nigeria’s foreign reserves

FG Overhauling National Grid to Improve Power Supply The Federal Government says it is overhauling the national grid to reduce the frequent disturbances and improve power supply across the country. The Minister of Power, Mr Adebayo Adelabu said this in Abuja on Tuesday at a media briefing. Adelabu said that the national grid was over 50 years with components that were weak, obsolete, and dilapidated, which included the lines sub-stations with old transformers He said that most of the towers installed a long time ago were falling due to the effects of weather and climate changes, adding that they need…

Yusuf Approves N71,000 Minimum Wage for Kano Civil Servants Gov. Abba Yusuf of Kano State has approved a new minimum wage of N71,000 for state civil servants, effective November . The new minimum wage is expected to increase the state’s monthly salary obligations by N6 billion and N7 billion for Local Government Councils. Announcing the wage adjustment through one of his verified social media accounts, page on Tuesday, Yusuf pledged his administration’s commitment to improving workers’ welfare and boosting living standards. “In line with our commitment to social justice and enhancing the standard of living for our workers, we have…

We have Capacity to Meet Local Demand of Petrol – Dangote Alhaji Aliko Dangote, Chairman, Dangote Refinery and Petrochemical Company, says his company has the capacity to meet the country’s local demand. Dangote said this while addressing State House correspondents after a meeting with President Bola Tinubu to review the sale of crude in naira to local refiners at the Presidential Villa on Tuesday. “With enough supply of crude, we can actually produce much more than 30 million litres every day. “At full capacity, we can even supply whatever is being consumed, which I believe may be about 30.32 million…

Nigeria Consumes 50m Liters of Petrol Daily, Says NMDPRA The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the country’s daily petrol consumption currently ranges from 45 million litres to 50 million litres. NMDPRA’s Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sideline of the ongoing 18th Africa Downstream Energy Week in Lagos. The 2024 OTL Africa Downstream Energy Week has the theme: “Alliances For Growth”. Ahmed said that higher petrol consumption during the fourth quarter, especially near the holiday season, was typical due to increased industrial and consumer activities. He expressed hope that recent price…

Naira Crude Sale has Set Economy on Path of Industrialisation – Edun Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, on Tuesday, said the sale of crude in naira to local refiners had set the Nigerian economy on the path of industrialisation and modernisation. Edun, chairman of the committee, said this while addressing State House correspondents after a meeting with President Bola Tinubu to review the sale of crude in naira to local refiners at the Presidential Villa. According to him, the bold initiative, endorsed fully by the Federal Executive Council (FEC), ensures crude oil is…

Ghana to Import Petroleum from Dangote Refinery – Official The National Petroleum Authority of Ghana says it is proposing to import refined petroleum products from Dangote Refinery to boost its energy security and sustain business cooperation with neighbours. Dr Mustapha Abdul-Hamid, Chief Executive Officer, NPAG, said this at the 2024 OTL Africa Downstream Energy Week on Tuesday in Lagos. Speaking as one of the panelists, Abdul-Hamidsaid that the move was aimed at strengthening Ghana’s energy security, and to deepen regional economic cooperation. The 2024 OTL, 18th edition, has the theme ‘Alliances for Growth’. According to Abdul-Hamid, Ghana is seeking an…

ECOWAS, ECOBANK Unveil Empowerment Programme for Women Traders The Economic Community of West African States (ECOWAS) in collaboration with ECOBANK Plc on Tuesday in Abuja unveiled a 6-month training programme for the empowerment of West African women traders. The programme seeks to empower women-led businesses by supporting and enhancing their growth, leveraging the African Continental Free Trade Area’s (AfCFTA) takeoff. ECOWAS Commission President, Dr Omar Touray, while unveiling the programme, expressed the commission’s gratitude to Nigeria for its relentless contributions to the bloc’s regional integration agenda. Touray, represented by Mrs Massandjé Toure-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, also…

Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects…