-Pays N450 billion in Tax to FG President of the Dangote Group, Aliko Dangote, has informed President Bola Tinubu that his group of companies paid a whopping N450 billion in taxes to the Federal Government’s coffers in 2024, thereby making it the highest tax-paying company in Nigeria. With this significant tax payment, Dangote companies are…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed allegations of irregularities in the 2024 oil block licensing round, asserting that the process strictly adhered to the Petroleum Industry Act (PIA) 2021 and its licensing guidelines. This disclosure was made by the Chief Executive of the NUPRC, Mr. Gbenga Komolafe while speaking with reporters in…
The Federal Government of Nigeria has announced plans to deploy seven million smart electricity meters across the country through the Presidential Metering Initiative as part of efforts to eliminate estimated billing and revenue leakages in the power sector. This was disclosed by Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during an…
The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has said that Compressed Natural Gas (CNG) is crucial for the railway industry in Nigeria, offering several benefits, including a reduction in maintenance costs by up to 60–70 percent. He disclosed this over the weekend during the signing of a Memorandum of Understanding…
A former Head of Health, Safety and Environment (HSE) at the Nigerian National Petroleum Company (NNPC) Limited, Mr. Bala Wunti, has exited the national oil company, with a formal handing over ceremony to the acting Head of HSE, Akpabio Essien. Wunti was the Chief Upstream Investment Officer of the NNPC Upstream Investment Services (NUIMS), before…
French oil major, TotalEnergies, said it agreed to sell its 12.5% stake in the Bonga oilfield offshore Nigeria to Shell, the field’s operator, for $510 million. The deal will bring Shell’s stake in Bonga to 67.5% and shows its continued interest in producing oil offshore Nigeria after selling its spill-plagued Nigerian onshore assets to Renaissance,…
Differences between President Trump and South African President Cyril Ramaphosa came to a head Wednesday afternoon in a tense exchange in the Oval Office, as Mr. Trump confronted him over whether White genocide is taking place in South Africa. Mr. Trump and Rampahosa met for a critical conversation — with South African-born billionaire Elon Musk…
Hundreds of young Nigerian professionals on Wednesday stormed the United Arab Emirates (UAE) Embassy in Abuja, demanding that the country to deport Mele Kyari, former Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, to answer questions over alleged corruption during his tenure. The protesters, under the aegis of Young Professionals Forum…
Africa’s richest man and industrialist, Alhaji Aliko Dangote, said yesterday he wouldn’t have attempted his $20 billion refinery, if he knew the magnitude of the facility. He also expressed commitment to empowering Nigerian engineers and building local capacity through large-scale industrial projects. Dangote, who stated this while receiving a delegation from Lagos branch of the…
A joint venture project developing the first marine fuel facility for liquefied natural gas in the U.S. Gulf Coast has secured final permits and construction is expected to begin later this year, executives involved said on Monday. The global shipping industry has been looking for fuel solutions to cut carbon emissions, with LNG seen as…
