The Rural Electrification Agency (REA) and First City Monument Bank (FCMB) have entered into a strategic collaboration to provide a ₦100 billion Naira loan facility targeted at accelerating private sector-led deployment of renewable energy solutions across the country. The agreement supports the implementation of the Distributed Access through Renewable Energy Scale-Up (DARES) initiative and will…
The Federal Government is considering strategic interventions to address power tariff challenges affecting gas supply and payment structures at key Nigerian National Petroleum Company Limited ( NNPCL)-led thermal power plants. A high-level meeting was held at NNPC Towers in Abuja between the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo; the Minister of Finance…
Nigeria and Brazil signed a $1bn (R17.7bn) agreement on Tuesday to boost agriculture, food security, energy and defence in the West African nation, Nigeria’s Vice-President Kashim Shettima said. The two countries aim to “deploy more than R1bn to deliver mechanised farming equipment, training and service centres across Nigeria,” Shettima said in a statement posted on…
Shell Nigeria is celebrating Country Chair Osagie Okunbor, who is retiring this month after 39 years of service. Stakeholders in the oil and gas industry, including government officials, regulators, and chief executives of indigenous and international oil companies, are joining to honour Okunbor at the milestone ceremonies, which began in Abuja last night The dignitaries…
The world braced on for Iran’s response after the U.S. attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. Iran vowed to defend itself a day after the U.S. dropped 30,000-pound bunker-buster bombs onto the mountain above Iran’s Fordow nuclear site while American…
Iran’s parliament has approved the closure of the strategically crucial Strait of Hormuz, a vital waterway for global oil shipments, in a significant escalation of tensions in the Middle East region. This decision, if effected, could push global oil prices up from below $80 to $150 per barrel. The decision comes after a US-led airstrike…
Vice President Kashim Shettima’s political future may be hanging in the balance as signs from within the All Progressives Congress point to his exclusion from the 2027 presidential ticket. Credible sources in the Presidency and the APC told Sunday PUNCH that there are ongoing political permutations that could compel President Bola Tinubu to drop him…
Amid the deepening military conflict with Israel, Iran’s Supreme Leader Ayatollah Ali Khamenei has reportedly shortlisted three clerics as potential successors, while choosing not to nominate his son Mojtaba. The revelation, cited in a New York Times report, comes at a time when Khamenei is said to be operating from a secure underground bunker due…
BRICS member China is negotiating a new economic deal with 53 African countries that will eliminate all tariffs and give special market access. The latest development could significantly benefit all the least developed countries (LDCs) in Africa and boost their respective economies. “China is ready to welcome quality products from Africa to the Chinese market”,…
Olufemi Soneye has announced his decision to step down from his role as the chief corporate communications officer of the Nigerian National Petroleum Company Limited (NNPC Ltd). Soneye, who assumed the position 20 months ago, expressed deep gratitude to his team and professional associates, crediting them for their support, dedication, and collective effort in building…
