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Nigeria: NERC Unveils Six Action Plans to Stabilise Power Sector


The new commissioners of the Nigerian Electricity Regulatory Commission (NERC), have outlined six areas the regulatory agency would focus on going forward to revive the fortunes of Nigeria’s privatised electricity market which is currently under immense operational stress. Coming almost two months after the inauguration of the board by the Minister of Power, Works and Housing, Mr. Babatunde Fashola, the ...

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Nigeria: ‘Missing’ Petrol Scandal: NNPC confirms Premium Times Report of Retirement of Top Officials


The Nigerian National Petroleum Corporation, NNPC, management on Thursday confirmed PREMIUM TIMES’ exclusive reports on the retirement of some of its top officials as a fallout of the recent N14 billion missing petrol scandal that rocked the national oil company. On Sunday, this newspaper exclusively reported that top officials indicted by a committee constituted to probe the scandal involving Capital ...

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Liberia: Coca-Cola Confirms Cummings’ U.S. Citizenship


Coca-Cola former executive and Liberian Presidential hopeful Alexander B. Cummings, Jr. has been listed as a bonafide citizen of the United States, a citizenship which he is yet to officially relinquish with barely six months to presidential and representative elections here. Mr. Cummings, currently standard bearer of the newly formed Alternative National Congress or ANC party is among a total ...

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Nigeria’s military destroys 13 illegal oil refineries


Nigeria’s military has revealed that it had destroyed 13 illegal refineries in the restive Niger Delta oil hub, in an operation in which two soldiers died in clashes with “sea robbers”. Military authorities say there are hundreds of illegal refineries in the region, which process stolen crude from oil company pipelines. The Nigerian government said last week that it plans ...

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Nigeria: NNPC, Customs, Others Shun U.S.$17 Billion Missing Oil Probe


The House of Representatives Ad-hoc Committee on the $17 billion missing from undeclared crude oil and liquefied natural gas exports to global destinations on Tuesday commenced its public hearing into the matter. Declaring the hearing open, the Speaker of the House, Hon. Yakubu Dogara, said incidence of missing oil money had become a recurring decimal in a sector which is ...

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Nigeria: Niger Delta Indigenes to Get Oil Blocks to Douse Tension


To douse tension in the oil-rich Niger Delta, the Federal Government plans to award to indigenes of the region marginal fields’ oil blocks abandoned by the oil majors as being not commercially viable. The plan is in line with the government’s larger objective of reducing major incidents of restiveness to about 90 per cent by next year. Over the years, ...

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Nigeria’s Mosimi oil depot resumes loading after almost one year


Nigeria’s Mosimi oil depot has resumed loading after almost a year, when a major pipeline was vandalised last May, the state oil company said on Monday. The resumption of loading could help the Nigerian National Petroleum Corporation (NNPC) cut losses that stemmed from the damage, as trucks had to drive from Lagos to replace the pipeline, said Maikanti Baru, group ...

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Etisalat Nigeria yet to agree debt deal with lenders: source


The Nigerian arm of Abu Dhabi telecom group Etisalat is yet to agree a deal on restructuring a $1.2 billion loan with local banks after it missed a payment, a company source told Reuters. Etisalat Nigeria told Reuters last month that it was in talks with lenders to restructure the loan. The source, who is not authorised to speak to ...

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Nigeria: Govt Urged to Reduce Business Entry Barriers


Nigerian government has been urged to reduce business entry barriers in the country in order to encourage entrepreneurship and promote economic development. Chairman of the Global Board of Directors of Entrepreneurs Organisation (EO), Ivan Ting made the call during his visit to the Nigerian Chapter of EO, as part of his African Tour. EO is a global business network of ...

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