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Snake Island Port to earn FG N3.6 trn revenue
Sopuruchi Onwuka The development and expansion of the Snake Island Port in Lagos State generate over $5.2 billion or N3.6 trillion in revenues for the government of Nigeria under a project outline that commands princely $1.85 billon private investment. The…
Subsidy removal: Regulators, players move to arrest fuel scarcity
Sopuruchi Onwuka The declaration of President Bola Tinubu that the subsidy on the retail price of premium motor spirit popularly called petrol is gone has sparked a new round of confusion in the domestic fuel market, prompting the commercial players…
Subsidy removal: President Tinubu pulls inflation triggers
Subsidy jumps from N800 bn in 2014 to N4 trn NNPC under accountability, transparency burden Sopuruchi Onwuka President Bola Ahmed Tinubu, on Monday set off fuel scarcity in the country as marketing companies responded to his inaugural address in which…
Nigerdock to invest N700 bn in Snake Island Port
Sopuruchi Onwuka Nigeria’s leading maritime and logistics company operating an integrated port and free zone in Lagos, Nigerdock, is working out detail of fresh investment that would transform the Snake Island into a robust quayside. The new wharfs would provide…
NOGOF unveils N35.7 trn job outlook for oil contractors
Shell leads with $13 bn contracts MOMAN needs contractors for facility revamp Falcon calls for partnership Sopuruchi Onwuka Planned field development and enhanced oil and gas recovery projects in the Nigerian petroleum industry would enrich the domestic economy with over…
The Nigeria Prize for Science nets 100 entries for 2023 cycle
Nigeria LNG Limited (NLNG) has received 100 entries from across the globe for the 2023 iteration of The Nigeria Prize for Science. The $100,000 Prize maintains the heightened level of interest experienced in 2022 when about 107 entries was received….
Drilling firms get court order to pay NCDF levy
Sopuruchi Onwuka The Federal High Court sitting in Yenagoa, Bayelsa State has ordered the drilling firms in the country to comply with regulatory directive requiring them to remit one percent of the value of contracts they executive in the country…
Shell’s prize in Bonga’s billionth barrel
Sopuruchi Onwuka The best method to convey the value of numbers is to convert them to money. In Nigeria, one billion begins to generate great interest when it looks like N1.0 billion. Greater interest comes with $1.0 billion. and the…
Industry captains want broader framework for equity investors in energy
Victor Nze Managing Director and Chief Executive Officer of ND Western, Mr Eberechukwu Orji, has made a call for the expansion of the framework guiding capital market operations to accommodate small and micro level investors into the oil and gas…
WIEN demands full incentives for gas sector investments
Sopuruchi Onwuka Gender diversity group in the Nigerian energy industry, Women in Energy network (WIEN), has called on government to consider well focused policies and incentives that would spur the highly needed investments in realizing the nation’s prime economic aspirations…
