President Bola Tinubu pledged on Thursday in Awka to address key developmental challenges confronting Anambra State and the Southeast region. These include erosion, underutilisation of gas reserves and Anambra’s exclusion from the National Rail Master Plan. Speaking at a civic reception held at Alex Ekwueme Square during his state visit, President Tinubu assured the people of Anambra of the federal …

President Bola Tinubu says Nigeria remains committed to a balanced approach to energy transition and still requires substantial investments in the oil and gas sector to meet the energy demands and economic needs of its population. Speaking at a meeting on Monday in Abuja with the Group Chief Executive of Standard Chartered Bank, Mr. Bill Winters, the President called for …

An initiative to incentivise investors in the oil and gas segment of the nation’s economy aimed at attracting $10 billion investment, was yesterday unveiled by the Minister of Finance and Coordinator of the Economy, Wale Edun The event which culminated in the endorsement of the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – …

The Gas Supply and Purchase Agreement (GSPA), to support the Final Investment Decision for the $3.8 billion Brass Methanol Project is to be executed in May 2024, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has disclosed. Ekpo, who announced this yesterday after a meeting with key stakeholders of the project in Abuja, said the meeting was to confirm …

The Federal Government has settled for fiscal incentives in the Oil and Gas Sector to attract investments. Special Adviser to the President of Energy, Mrs. Olu Verheijen disclosed this during the ministerial press briefing in Abuja on Friday. She said the government was seeking for ways to grow revenue and foreign exchange to stabilize our economy and currency. She said …

The Federal Government has paid $120 million out of $1.3 billion owed to gas firms for the supply of gas for the running of power plants in Nigeria. This was disclosed in Abuja, on Thursday, during the 7th Nigeria International Energy Summit (NIES 2024), by the Director, Decade of Gas Secretariat Ed Ubong. He said the payment was to offset part of …

The Nigerian government said deploying the flagship Amal gas leak detection device will accelerate the country’s adoption of compressed natural gas (CNG), a preferred energy source for homes, transportation, and industry. The minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, made this known during the Commissioning of Amal Technologies Gas Leak Detection and Printed Circuit Board Manufacturing Facility in …

Lagos State Safety Commission (LSSC), with the Ministry of Energy and Mineral Resources, has organised training for gas operators. This followed incessant gas explosions and fire in Lagos and parts of the country, Director General of LSSC, Mr Lanre Mojola, said the training was organised to save lives and property. He said: “Appliances, utilities, houses, etc. can be replaced, one …

The Senate says it will invite the Nigerian National Petroleum Company Limited (NNPCL) over the lack of funds to explore and develop new frontier acreages. The Senate through its Chairman, Committee on Gas, Jarigbe Jarigbe, made this known on Friday while briefing journalists after a closed-door session with the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), …

Alphaden Energy & Oilfield Limited has inked a $60 million loan facility deal with the African Export-Import Bank (Afreximbank), for the construction of a 20 million standard cubic feet per day gas processing facility in Bayelsa State, Nigeria. The 7-year term loan agreement was signed by the CEO of Alphaden Energy & Oilfield Limited, Paschal Anyanwu and the director and …