Divestments: Shell Assets Estimated at 4.96 Billion Barrels Oil Reserve – NUPRC The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the Shell Petroleum Development Company of Nigeria Limited (SPDC) assets being considered for divestments have an estimated reserve of 4.96 billion barrels of oil The Commission Chief Executive of NUPRC, Mr Gbenga Komolafe disclosed this […]

FCTA Opens to Partnership with JICA on Teachers’ Training – Wike The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says the FCT Administration is open to partnership with Japan International Cooperation Agency (JICA), on teachers’ training. Wike stated this when the Chief Representative of JICA in Nigeria, Mr Yuzurio Susumu, visited him […]

NUPRC Opens Bid for 17 Marginal Oil Fields – Komolafe The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has begun the conduct of fresh bid rounds for marginal oil fields in Nigeria. The NUPRC said 12 oil fields would be offered together with the five from the 2022 bid round that was put on […]

Wema Bank Profit Grows by 80% to N9.67bn in Q1 Nigerian lender, Wema Bank Plc, profit rose by about 80% year on year in the first three months of financial year 2024, details from its regulatory filing showed. The bank’s net interest income surged significantly in the first three months of the year to settle […]

Reps Urge NERC to Suspend Hike in Electricity Tariff The House of Representatives has urged the Nigeria Electricity Regulatory Commission (NERC) to suspend the implementation of the new tariff. The call was a sequel to the adoption of a motion by Rep. Nkemkanma Kama (LP-Ebonyi) at plenary on Tuesday. It would be recalled that NERC […]

G7 Tasks IRENA to Monitor Group’s Renewable Energy Progress G7 leaders tasked the International Renewable Energy Agency (IRENA) to track and monitor the group’s collective contribution toward the global renewable tripling target by 2030. The target was established by the UAE Consensus last November at COP28, aligning global climate ambitions with IRENA’s 1.5°C pathway, mapped […]

Lagos Disburses N849.56m to 10,066 Students Lagos State Government has approved and disbursed N849,555,000 in scholarships and bursaries to 10,066 students in its tertiary institutions. Lagos State Commissioner for Tertiary Education, Mr Tolani Sule, gave the figures on Tuesday at the 2024 Ministerial Briefing of the government. The event was held at the Bagauda Kaltho […]

HTL Africa Celebrates Decade of Design Innovation with Samsung at Alliance Française HTL Africa, a leading architectural design firm, along with technology giant Samsung, hosted a private showcase themed “Architecture at the Nexus of Tradition and Technology”, marking a decade of pioneering design and architectural innovation. James George, CEO at HTL Africa, reflecting on the […]

UAC of Nigeria Posts N5.9 Billion Profit in Q1 UAC of Nigeria Plc posted a N5.9 billion net profit in the first quarter of 2024, reversing its loss position in the comparable period, according to the company’s Q1 unaudited financial statement. The consumer goods company’s earnings growth was driven by the positive impacts of exchange […]