Government justifies N701bn power sector’s payment assurance guarantee
The N701billion-payment assurance guarantee Power Sector Recovery Programme (PSRP), is consistent with Section 76(2)(b) of the Law, which seeks to ensure that producers of power recovered their investment and some profit, the Minister of Power, Works and Housing, Babatunde Fashola has said.
NETCO records N5.1 billion profit in two financial years
The National Engineering and Technical Company Limited (NETCO), has recorded a profit after tax of N5.1billion for 2015 and 2016 financial years.The breakdown showed that N1.4billion was recorded for 2015, while N3.7billion was recorded for 2016.
UK, China, Togo increase petroleum import from Nigeria
United Kingdom (U.K.), China, and Togo, increased their import of crude oil from Nigeria in the month of May 2017, according to import destination report of the Nigerian National Petroleum Corporation (NNPC).
Fashola tasks transmission substations on maintenance culture
The Minister of Power, Works and Housing, Babatunde Raji Fashola, has tasked transmission substations in Nigeria on regular maintenance of their equipment.
‘Nigerians require 180,000mw of electricity’
United Capital Plc has said Nigeria will require 180,000 megawatts (mw) of electricity to meet the need of household and businesses.
Total enriches lives with access to solar energy
With the launch of the first solar-powered service station, in Onigbagbo, Lagos on June 12, 2014, Total Nigeria Plc became the pioneer of solar services in West Africa.
Nigeria requires $16.5bn to achieve 40bn barrels oil reserves target
Ibe Kachikwu, said the Federal Government has resorted to the use of local security contractors, who have lot of synergies with the communities, to achieve effective protection and monitory of the facilities.
DPR strategises to recover outstanding FG’s revenues
According to the Head, Public Affairs of DPR, Paul Osu, the project will automate the administrative role of issuing import and export permits for petroleum products.