Photo: Hand covered in oily mud, Bodo Creek, in 2011 (file photo). Shell oil has struck a deal for two separate payouts, one to fishermen and a second to their community, after two oil spills in 2008 devastated their livelihoods. It could take decades to fully clean the affected area. Oil giant Royal Dutch Shell […]
Tag Archives: Nigeria
04
Jan
Jan
Nigeria LNG: Train 7 to Attract $ 8bn FDI 22 May 2012 Former Head of Interim National Government, Chief Ernest Shonekan, has stated that from the stand point of economics, the proposed Train 7 of the Nigerian Liquefied Natural Gas (NLNG) in Rivers State would attract Foreign Direct Investment (FDI) estimated at over $ […]
By Onyebuchi Ezigbo in Abuja The All Progressives Congress (APC) has alleged that the PDP-led Federal Government is trying to suppress the audit report on the $ 20 billion oil money. The party said the deadline for the release of the report, which was set by the government itself, has come and gone but without […]
By Patrick Ugeh and Linda Eroke After a protracted meeting with government officials which lasted for 13 hours, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), and the Nigerian Union of Petroleum and Natural Gas workers (NUPENG) suspended their nationwide strike on Friday morning. Their industrial action was in protest against several […]
By Victor Ahiuma Young THE Federal Government will today meet leaders of striking oil workers and other stakeholders in the petroleum sector in a desperate effort to end the industrial action before it worsens the fuel supply chain and other socio-economic situations. Already, the workers, on the umbrella of the Nigeria Union of Petroleum and […]
analysis By Ioannis Mantzikos Nigerian piracy is unique for several reasons. It accounts for 71% percent of all incidents in West Africa, and the methods used by Nigerian pirates are highly profitable. The International Maritime Bureau (IMB), which monitors sea crime, reported eight piracy incidents off Somalia during the first half of 2013. 31 piracy […]
Photo: OPEC headquarters. analysis By Anthony Goldman When politicians, fund managers and development professionals look to highlight the success of democratic Nigeria, they typically point to one, key statistic: when the military stood down in 1999 after an almost unbroken generation in power, per capita income in Africa’s most populous state was USD1,940; by 2013, […]
By Roseline Okere and Sulaimon Salau THE United States’ import of crude oil from Nigeria and Algeria have declined by 93 per cent since 2010, the U.S Energy Information Administration (IEA), has said. Meanwhile, Nigeria’s oil production may have recorded a major setback, as the Shell Petroleum Development Company (SPDC) shut its Trans-Niger Pipeline (TNP), […]
By Simon Ebegbulem BENIN CITY— FOLLOWING what it described as the tensed political environment in the country ahead of the 2015 general elections and the killings of innocent Nigerians by the Boko Haram sect in the North East part of the country, Christian Association of Nigeria, CAN, and Pentecostal Fellowship of the Nigeria, PFN, have […]
By Isiaka Wakili The federal government has raised an alarm that the fall in oil prices is affecting the inflow of money into the excess crude account. Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, said this yesterday at the National Economic Council (NEC) meeting chaired by Vice President Mohammed Namadi Sambo. Okonjo-Iweala, represented by the […]
Photo: Lagos, Nigeria By Jaiyeola Andrews Abuja — Following the downward slide in the price of crude oil on the international market, the federal government on Thursday disclosed that it had mapped out strategies to increase taxes and other internally generated revenues (IGR) in the country. Deputy Governor of Lagos state, Victoria Adejoke Orelope-Adefulire, stated […]
By Funmi Amodu, With Agency Reports Abuja–For the fourth month running, statutory revenue available for distribution between the three tiers of government dropped as the total revenue for October stood at N593.34 billion. The amount is about N10.192 billion lower than the N603.529 billion shared in September. This is just as governors of the 36 […]
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Nov
Nov
Imperative of sustaining the Nigeria LNG project 26 September 2012 As you may be aware, I devoted almost two decades to the work of establishment of LNG business in Nigeria. And it nearly happened: the first time was in the 1960s and the second in the 1970s. Indeed, we would have signed an agreement […]
By Yemi Adebisi Former President Olusegun Obasanjo has blamed his successors, including President Goodluck Jonathan, for being responsible for the rot in the country’s power sector. Speaking at the first Green Legacy Moment with Chief Olusegun Obasanjo on Leadership and Human Security in Africa in Abeokuta, Ogun State, he said his administration laid the foundation […]
editorial OIL has a central importance in our lives. Some have reasoned that without the easy revenue oil heaves into government coffers, the attractions of elective office would have dried up long ago. Oil runs government budgets, and with it the web of corruption often associated with oil. An erroneous belief that relevance of oil […]
