Oil & Gas

FG unveils $200m bailout for oil, gas firms

The Federal Government on Thursday launched a fund with an initial value of $200m to support local oil and gas firms.


IOCs, Others Responsible for Failure of Oil Sector Reforms, Says Ex-Presidential Aide

A former Adviser on Petroleum to one-time Head of State, Gen. Abdulsalami Abubakar (rtd), Dr. Mohammed Ibrahim, has blamed the failure of petroleum sector reforms to the unwillingness of international oil companies (IOCs) operating in the country to break away from the status quo due to vested interest.


FG to commence 100% local fabrication of modular refineries

The Federal Government, yesterday, said it has initiated plans to achieve 100 per cent local fabrication of modular refineries in Nigeria and has entered into discussions with Original Equipment Manufacturers, OEM, in this regard.


NUPENG condemns move to whittle down  NAPIMS’s powers

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has condemned the move to whittle down the regulatory powers of the Nigerian Petroleum Investment Management Services Limited (NAPIMS) in the new petroleum policy approved by the Federal Executive Council.


FG targets $1bn fund to support local oil, gas firms

The Federal Government yesterday launched a $200 million intervention fund with future plans to raise the value to $ 1 billion to help local oil and gas companies grow their capacities.


OPEC deal: Nigeria, Libya expected at next meeting

The joint ministerial monitoring committee for the Organisation of Petroleum Exporting Countries and non-OPEC oil producers participating in the production cut deal has said it will invite representatives from Nigeria and Libya to its next meeting in September to explain their production outlooks.


Banks lack oil, gas industry knowledge — Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Thursday said some Deposit Money Banks in Nigeria lacked sufficient knowledge of the oil and gas sector.


Other News

VCs, ASUU reject 120 cut-off mark for varsity admission

SOME Vice-Chancellors and the Academic Staff Union of Universities have rejected the decision of the Joint Admissions and Matriculation Board to peg admission cut-off mark at 120 for universities and 100 for polytechnics, monotechnics and colleges of education.


No fixed date for negotiation with FG – ASUU

Hopes of early resolution  of  the issues  that led to the declaration of indefinite strike action by  the   Academic Staff Union of Universities (ASUU) were dashed yesterday as the union president Professor  Biodun Ogunyemi said the union had no fixed date or appointment  to meet the Federal Government over the crisis.


JAMB cut-off marks : Sad decision for the future – ASUU

The Academic Staff Union of Universities, ASUU, has faulted the Federal Government on the minimum cut-off mark for 2017/2018 admission into the nation’s tertiary institutions.


Minimum Wage: NLC Confirms Submission of Nominees

The Nigeria Labour Congress (NLC) has said it has submitted the names of its nominees for the 29 man-committee for the negotiation of the new National Minimum Wage.

Illegal Recruitment: Senate to Accelerate Passage of Existing Vacancies Bill, Says Saraki

Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate will accelerate the passage of the Existing Vacancies in the Federal Civil Service (Prohibition) Bill, once it resumes in September.


Declare state of emergency on unemployment, says union

Concerned over the alarming rate of unemployment in the country, the President of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), Comrade Oyinkansola Olasanoye, has called on the Federal Government to declare a state of emergency on unemployment.


Evolve new strategies on job creation, minister tells NDE

Minister of Labour and Employment, Senator Chris Nigeria has tasked National Directorate of Employment (NDE)  to evolve new strategies that are not only practical but will also adequately address all the relevant and contemporary issues relating to employment generation in the country.


Adeosun wants FAAC repositioned

Minister of Finance Mrs. Kemi Adeosun has said there is urgent need to reposition the Federation Account Allocation Committee (FAAC)  for enhanced performance through efficient management of accrued scarce resources for national development.


Mass housing construction begins in 33 states

The Federal Government on Thursday announced that it had commenced the construction of mass housing projects in 33 states across the country.

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