Central Bank data showed on Tuesday that Nigeria’s foreign exchange reserves rose 8.9 percent to $27.49 billion by Jan. 20 from a month ago, climbing to the highest level since April.
The Federal Government has concluded plans to boost electricity generation in the country with two small hydro power plants capable of adding 2,000 kilowatts of electricity to the country’s energy capacity.
Minister of Science and Technology, Dr. Ogbonnaya Onu has said that the Federal Government has concluded arrangements to generate at least 2000 megawatts of solar energy.
An acute shortage in the supply of diesel and kerosene has hit filling stations nationwide, a situation which may fuel inflation on foods and other consumables if not averted quickly.
According to BMI research, Sub-Saharan Africa holds the highest potential to become a "niche" market for liquefied natural gas to feed power plants as the world faces a growing surplus of the fuel.
On Tuesday, The House of Representatives faulted the current pricing template for Premium Motor Spirit, better known as petrol, saying that a realistic pump price should not be above N70.04 per litre and therefore, asked the Petroleum Products Pricing Regulatory Agency and Ministry of Petroleum R
The chairman of the Board of Directors, Jos Electricity Distribution Company Plc, (JED) Alh. Mahmud Yayale Ahmed disclosed that electricity is an essential aspect of Nigeria’s quest for industrialisation, job creation, enterprise development, and national security.
The minister of Industry, trade and Investments, Okechukwu Enalamah stated that International Oil Companies are set to announce new significant investments into Nigeria’s oil and gas sector to plug the funding gap, following talks by stakeholders on how to revamp that very critical industry.
At a stakeholders consultation on the Draft National Oil Policy held recently in Abuja, Oil marketers and critical downstream stakeholders revealed that NNPC which supplies more than 70% of fuel consumed in the country is doing so at a loss under the current foreign exchange regime and the federa
The Minister of State for Petroleum Resources, Mr. Emmanuel Ibe Kachikwu, stated that Nigeria’s crude oil output is about 1.9 million barrels per day following the militant attacks on oil facilities in the country.