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Expatriates in Nigeria’s oil & gas sector reduced by 80% – NCDMB

Aug 22, 2019

The Executive Secretary, Nigerian Content Development and Monitoring Board, Mr Simbi Wabote, says that the number of expatriates working in the Nigerian oil and gas sector has been reduced by 80 per cent. Wabote disclosed this on Monday in Abuja at the NCDMB’s third-quarter engagement with the media, which focused on the major achievements of…

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Shell JV, SNEPCo have paid $2bn to NDDC – Rep

Aug 22, 2019

The Shell Petroleum Development Company (SPDC) Joint Venture, Shell Nigeria Exploration and Production Company (SNEPCo) and its co-venture partners have contributed $2 billion to the Niger Delta Development Commission (NDDC). The Media Relations Manager, Shell Nigeria, Bamidele Odugbesan, stated this while reacting to the allegation that the oil giant was among the 50 oil firms…

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Kaduna Electric, 4 communities agree on bills payment threshold

Aug 22, 2019

The Management of Kaduna Electric and leaders of four communities under its Rigasa Area Office have agreed on the minimum threshold for the latter’s monthly bills’ payment while the former will accord the communities priority in power supply. The Area Manager of the Rigasa Area Office of the Company, Malam Musa Usman disclosed this in…

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Audit uncovers non-remittance of funds to Nigerian Content Fund by oil firms

Aug 21, 2019

The Nigerian Content Development and Monitoring Board (NCDMB) has said a forensic audit it started in November, 2018, has revealed huge amounts of non-remittance to the Nigerian Content Development Fund (NCDF) by oil, gas and service companies operating in the country. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote, who revealed this in Abuja…

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Nigeria budget faces more troubles as $9.6bn judgment debt, falling crude prices, raise fresh fears

Aug 21, 2019

Hopes of full implementation of the 2019 budget are now looking doubtful as Federal Government’s revenue sources countined to come under pressure due to falling crude oil prices, increased shale oil production by the United States and the recent $9.6billion judgement debt imposed on the counry by a British court. For instance Brent crude, the international…

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Banks bear brunt of N100bn bad loans in power sector

Aug 21, 2019

A total of N100.42bn loans advanced by the nation’s banks to power firms have been recorded as non-performing, the latest data from the National Bureau of Statistics have shown. The power and energy sector, out of 22 sectors/business lines, accounted for the fifth biggest share of banks’ N1.69tn non-performing loans as of April 30. The…

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NNPC sets up committee on Warri port channel

Aug 21, 2019

Following complaints about the absence of channel management outfit for maintenance dredging of Warri port and the shallow channel of the port caused by the pipelines belonging to Nigerian National Petroleum Corporation, NNPC, the Corporation’s management has constituted a committee to find lasting solutions to the problem. This is even as the Nigerian Ports Authority,…

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Community calls on DPR not to award more approvals for tank farms

Aug 21, 2019

Residents of Ijegun-Egba and satellite communities have called on the Department of Petroleum Resources (DPR), not to issue licenses for new tank farms, noting that the area was already choked up with farms that pose threat to lives and property. The Chairman, Satellite Town Forum, Governor Imitini, at a town hall meeting with tank farm…

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Nigerian finance minister returns to cabinet

Aug 21, 2019

Nigerian President Muhammadu Buhari named a 43-member cabinet, with Zainab Ahmed returning to the Finance Ministry. The appointments come six months after Buhari won re-election in a February vote disputed by the opposition. The newly formed government faces the challenge of implementing development plans to reverse mounting poverty in the country of 200 million at…

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Russian sailors abducted off Cameroon’s coast are most likely in Nigeria – Source

Aug 20, 2019

Three Russian sailors who have been recently abducted by pirates off Cameroon’s coast are most likely to be in Nigeria, a source in the employing company stated. “Everything is normal with people. No one has been injured, no one is ill. They are receiving clothes and antimalarial medications”, the source said. When asked where the…

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