Udobong Ntia, the Executive Vice President of Upstream at the Nigerian National Petroleum Company Limited (NNPCL), has recommended the use of “third-party” operators for idle and unproductive oil and gas assets across Nigeria in a bid to boost the country’s crude oil production.He made the recommendation on Thursday at the Heirs Energies Leadership Forum 2025 – Industry Leadership Discourse, which was attended by Nairametrics.The event brought together oil and gas industry leaders, regulators, federal government officials, and relevant stakeholders to discuss how to make Nigeria energy self-sufficient.Strategic Imperatives to Boost Nigeria’s Oil and Gas IndustrySharing insights on how stakeholders can…
Author: Oladi Samuel
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The Federal Government is considering establishing manufacturing hubs for local building materials in free trade zones nationwide.The plan aims to leverage the advantages of these zones, including tax incentives, reduced regulatory burdens, and access to markets, to boost local production, lower construction costs, and make housing more affordable.Minister of Housing and Urban Development, Musa Dangiwa, disclosed this during his keynote address at the Stakeholder Forum on Development of Fiscal Incentives for Manufacturers of Local Building Materials Components in Nigeria.He noted that the suggestion to use free trade zones was raised during the forum. This was disclosed in a statement on…
The Transmission Company of Nigeria (TCN) has commissioned a new 100MVA power transformer at the 132/33kV Osogbo Transmission Substation in Osun State, marking a major advancement in the country’s electrical transmission infrastructure.This was announced by the agency on X (formerly Twitter) on Friday.The agency stated “As part of its efforts to rehabilitate and strengthen its transmission network, the Transmission Company of Nigeria (TCN) has successfully energized a new 100MVA power transformer at the 132/33kV Osogbo Transmission Substation in Osun State. “The new transformer boosts the Substation’s capacity from 180MVA to 280MVA and enhances bulk power supply to the Ibadan Electricity Distribution…
The Federal Government has appealed for the support of the Chinese government in diversifying Nigeria’s economy, especially in the area of establishing electric vehicle assembly plants in the country.The Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu called for the support in a statement following the visit of the Chinese Ambassador to Nigeria, Yu Dunham to the Ministry.Odumegwu-Ojukwu described China as one of Nigeria’s largest trade partners, saying the two countries have a long history of economic cooperation.“In line with President Tinubu’s policy to industrialise Nigeria, we expect China’s cooperation to enable us to establish assembly plants for electric…
The National Oil Spill Detection and Response Agency (NOSDRA) has moved to curb oil spillage in the Niger Delta region and other oil-producing areas across Nigeria.The agency signed a Memorandum of Understanding (MoU) with F1 Consulting in Abuja on Thursday to strengthen oil spill response and training NOSDRA personnel.The agreement is aimed at enhancing the agency’s effectiveness in mitigating environmental pollution in oil-producing communities.Speaking at the signing, NOSDRA’s Director-General, Mr. Chukwuemeka Woke, emphasized the agency’s dedication to fulfilling its mandate. He expressed optimism that the collaboration would yield significant results in protecting communities affected by oil spills.“With the establishment and…
Thailand has updated its Long-Term Resident (LTR) Visa rules, starting in February 2025.The new changes make it easier for skilled workers, investors, and their families to live, work, and invest in Thailand.The updated rules lower income and work experience requirements and expand eligibility for dependents.The updated rules remove significant barriers and provide a wider range of opportunities for those interested in settling in Thailand.The new guidelines make it easier for a variety of individuals, including experts, entrepreneurs, and digital nomads, to apply for the visa.Changes to income and work experience requirements One of the key updates is the removal of the…
United Capital Infrastructure Fund (UCIF), the infrastructure fund of leading Pan-African financial services group, United Capital Plc, is pleased to announce a total dividend distribution of N1.98 billion to its unitholders, for the year ended 2024.In accordance with its bi-annual distribution structure, the Fund paid an interim distribution of N769 million for the first half of 2024.This was followed by a distribution of N1.21 billion for the second half, bringing the total distribution to unitholders for the full year to N1.98 billion.These payments, comprising both accrued principal and interest, reflect the Fund’s unwavering commitment to delivering exceptional value to its…
Australia has updated the rules for the Second Working Holiday Visa (Subclass 417), allowing travelers to extend their stay for an additional 12 months.The changes provide more details on the visa application process and set clear guidelines for applicants.Those who have already held a First Working Holiday visa can apply for the extension.The changes to the Second Working Holiday visa are intended to simplify the process and address issues faced by previous applicants, DAAD Scholarship cites. These changes impact visa cancellation, location declarations, and processing times.The Australian government has warned that high volumes of applications could lead to delays.Key changes…
Looking to grow your money in 2025? Mutual funds offer a simple and effective way to invest without the stress of managing individual stocks. In this episode of Everyday Money Matters, we break down how mutual funds work, the best options for different financial goals, and common mistakes to avoid.With as little as ₦5,000, you can start investing and watch your money grow. Whether you’re saving for retirement or just looking to build wealth, this episode gives you the knowledge to make informed decisions.Don’t miss out—watch the full episode now!
The European Commission has opened applications for its Blue Book Traineeship Programme, a five-month paid internship for graduates.The programme offers an opportunity to gain experience in EU policymaking and administration.Successful applicants will work alongside EU professionals on projects related to policymaking, communication, and administration.The program would permit recent graduates to work on projects in EU institutions, where approximately 650 trainees are selected each session, the commission informs.An opportunity to provide them with the chance to build professional skills.Trainees, as reported, can expect to interact with professionals and contribute to various EU programs.Financial support for participants Details inform that the Blue Book…