Tag: Energy

Corruption: Oil & Gas account for 92.9% of IFFs from Nigeria ? ICPC

Aminu Imam

Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC),Prof. Bolaji Owasanoye, yesterday, tasked the Federal Government and the National Assembly on the need to completely discard the confidential clauses that forbid the operators of the extractive industry, especially oil and gas industry from disclosing terms negotiated with Multinational Corporations. The ICPC Chairman gave the charge during the Legislative Transparency & Accountability Summit’, in Abuja, which was held at the instance of the House of Representatives’ Committee on Anti-Corruption, chaired by Hon. Dachung Bagos. Prof. Owasanoye averred that…

Read More

Job losses loom, as crude oil theft triggers more IOCs divestment – FG

Aminu Imam

The Federal Government has said that more International Oil Companies (IOCs) operating in Nigeria are going to divest from onshore oil and gas assets due to poor earnings caused by the massive crude oil theft across the country. The Chief Executive, Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed this on Tuesday, at the Energy and Labour Summit of the Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), in Abuja. Komolafe also pointed out that the development would lead to job losses in the oil sector, but called…

Read More

Industrial Crisis: NLNGs $10bn Train-7 threatened, as Daewoo shuts down site

Aminu Imam

The scheduled completion of the Nigerian Liquefied Natural Gas Train-7 Project may be stalled, following the lingering labour dispute between members of the National Association of Plant Operators and the management of Daewoo E&C Nigeria Limited. The South Korean firm, Daewoo, has been in an industrial crisis with its workers, who are protesting the refusal of the company to allow them to unionise under NAPO. They alleged illegal deductions of check-off dues from their salaries and dismissal of 24 of their colleagues. Following the dispute, the management of Daewoo Engineering…

Read More

Energy Price Hike: ‘Broadcast Stations gasping for breath’ – BON cries out

Aminu Imam

The Broadcasting Organisations of Nigeria, (BON), a body representing broadcast stations in Nigeria, has cried out over the skyrocketing costs of operation following the high cost of petrol and diesel, saying broadcast stations are gasping for breath. The BON said the broadcast stations, which it described as ‘a stabilising factor in maintaining political stability, security and peace of the country’, are under serious threat due to the harsh prevailing economic environment. The Organisation’sExecutive Secretary, Dr. Yemisi Bamgbose, in a statement said if nothing is done urgently to arrest the current…

Read More

Nationwide Blackout: FG directs NBET to negotiate with Agip Oil on energy supply

Aminu Imam

Following the refusal of the gas companies to supply gas to the generation companies due to the huge debts owed them, the Federal Government has directed the Nigerian Bulk Electricity Trading Plc, (NBET), to enter into fast-track negotiation with Agip Oil (NAOC) on an interim energy sales agreement with a view to bringing the new Okpai-Il Power Plant on the grid. This, according to the government, would contribute an additional 400MW of generation capacity. In an issued statement, the Minister of Power, Abubakar Aliyu, said that the pigging of the…

Read More

Energy crisis: ‘Supply diesel to us on priority basis’ – Telcos union urges FG

Aminu Imam

Telecommunication companies,(Telcos), under the aegis of the Association of Licensed Telecommunications Operators of Nigeria, (ALTON), have asked the Federal Government to prioritise the supply of diesel. Checks showed that the price of automotive gas oil, also known as diesel, has surpassed 700 per litre in some filling stations in Lagos. In a phone interview with newsmen yesterday, ALTON chairman, Gbenga Adebayo, said the telecoms sector had been severely affected by the current hike in diesel prices and fuel scarcity. The challenges, he said, have caused incidences of diesel theft at…

Read More

“I have only come to add value to electricity sector” New Power Minister, Aliyu

Aminu Imam

The new Minister of Power, Abubakar Aliyu, has disclosed that he is coming to add value to the electricity sector. Recall that President Muhammadu Buhari, on September 1, sacked Saleh Mamman as the minister of power and replaced him with Aliyu, then Minister of State for Works and Housing. Speaking on Monday when he assumed duty at the ministry, Aliyu said he is not coming to perform magic in the sector. He asked all stakeholders in the industry to work together to ensure adequate power supply to consumers. I am…

Read More