The sunny side of falling crude oil prices
THE announcement by the Federal Government to reduce the price of a litre of fuel from N97 to N87 was not unexpected as many countries around the world have taken advantage of the decline in crude oil prices to cut their pump prices. The United States of America, which has within a very short…
NNPC initiates fresh scheme to boost kerosene supply
THE Nigerian National Petroleum Corporation (NNPC) has initiated a new scheme to ensure smooth distribution of Dual Purpose Kerosene (DPK) across the country. The Group General Manager, Group Public Affairs Division, Ohi Alegbe, in a stamen made available to The Guardian recently, said the ‘Kero Correct’ initiative would cut-off the several layers of middlemen…
Trails of power hiccups, 49 years after independence
IN 1896, Nigeria flagged-off power generation with a 20-mega watt (mw) capacity power plant located in Ijora, Lagos. With this development, all were agog with anticipations that the feat would fast-track growth and development of the African giant, even when it was yet to get independence.
World Bank investment in renewable energy hits $3.3b
THE World Bank has disclosed that its financing for renewable energy and energy efficiency projects in developing countries has risen by 24 per cent in the last fiscal year to $3.3 billion. The apex bank in a statement released recently said that in the past five years, it had approved 366 projects in 90 countries, noting that last year alone, the bank approved 99 projects in 48 countries.