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Partial fuel subsidy to wipe off 4.0% GDP, elevate fiscal risks, shake investor confidence
• Intervention to linger through Jan elections __BMI Global economic advisory firm, BMI, has warned that the presidential intervention in the liberalized and commercially deregulated fuel market would form a major setback in the country’s economic recovery agenda. BMI which…
When economic correction becomes social exposure
[Sola Adebawo] Some reforms do not fail because they are economically unsound. They fail because they arrive faster than society can carry them. In policy circles, adjustment is often described as necessary correction. But outside those circles, what citizens experience…
NAE awards 30 Nigerians PG scholarships, deepens skills devt.
Over 3,000 applicants competed for 30 awards as Eni subsidiary sustains 19-year investment in specialised training, with 380 graduates benefiting from the scheme to date. Nigerian Agip Exploration Limited (NAE), a subsidiary of Italian energy company Eni, has awarded postgraduate…
Beyond gas, NLNG’s Prizes turn creativity, innovation into national assets
Sopuruchi Onwuka With significant $220,000 or some N300 million on the table, the Nigerian Prizes for Science, Literature and Creative Arts have spurred innovations and creative writings that have not only explored deeper for solutions to Nigeria’s problems but also…
Renaissance, PSIN prepare retiring public servants for life after service
Retirement should not be viewed as the end of a productive career but as an opportunity for reinvention, personal growth and continued contribution to society, Vice President, Relations and Sustainable Development at Renaissance Africa Energy Company Limited, Igo Weli, has…
G7 agrees 100 Mbbls emergency oil to ease supply squeeze
The International Energy Agency (IEA) said Saturday that its member countries had so far released about 325 million barrels of oil and oil products from strategic reserves, representing more than 80 per cent of the 400 million barrels pledged in…
Elumelu raises Seplat stake by $71m ahead of board chairmanship
Nigerian businessman and investor Tony Elumelu has increased his interest in Seplat Energy Plc, with Heirs Energies, a company he controls, acquiring an additional six million shares in the Nigerian energy producer ahead of his scheduled assumption of the company’s…
Renaissance’s feedgas lifts NLNG plant to 82% utilization
Renaissance Africa Energy Company Limited has been credited with playing a pivotal role in improving the operational performance of Nigeria LNG Limited (NLNG), helping raise plant utilisation from about 50 per cent to 82 per cent and enabling the company…
Heirs Energies highlights technology, data-driven operations in Nigeria’s production growth drive
Heirs Energies has highlighted the growing importance of technology, data and operational optimisation in Nigeria’s efforts to increase oil and gas production, stressing that unlocking additional value from existing assets will be critical to the country’s energy growth. The company’s…
Dangote, African leaders break ground on $16bn Kenya refinery
Africa’s push for industrial self-reliance received a major boost on Wednesday as Kenyan President William Ruto and President/Chief Executive of Dangote Industries Limited, Aliko Dangote, joined other African leaders to break ground on a $16 billion petroleum refinery and petrochemicals…
