Tag: nigerian energy

Maire Tecnimont S.P.A, the contractor for the $1.5 billion rehabilitation of the Port Harcourt refinery, has declined to provide a completion date despite a formal request from human rights lawyer Femi Falana under Nigeria’s Freedom of Information (FOI) Act. The project, which began in April 2021, has faced multiple delays and missed deadlines for the…

Zenith Bank announced on Thursday that it has made significant progress in its IT upgrade which disrupted its banking services for over 48 hours. The bank stated that its customers can now transact across its various channels, including debit cards, mobile app, internet banking, and through its agents nationwide. In a statement posted on its…

The Managing Director of Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, on Thursday, said the implementation of the Federal Government’s directive for the Authority to coordinate service provision from all regulatory and security agencies, and other stakeholders for the smooth implementation of the sale of crude oil and other petroleum products to the Dangote Refinery…

Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, an engineer, yesterday warned that the country may face a gas supply crisis with a potential shortfall of 3.1 billion cubic feet per day (bcf/d) by 2030 in the ‘Base Case Demand and Supply’ scenario. Komolafe, made this known yesterday while speaking in Lagos…

The Federal High Court in Abuja has ordered Qatar Airways to pay a former lawmaker, Honorable Chukwuemeka Ujam, a refund of $3,000 and N4.8 million in exemplary damages and costs for canceling his business class flight to the United States without prior notice. Justice James Omotosho delivered the judgment on Thursday in the suit marked…

The Central Bank of Nigeria (CBN) has announced the launch of the Electronic Foreign Exchange Matching System (EFEMS) for all foreign exchange (FX) transactions within the Nigerian Foreign Exchange Market (NFEM). This is in a bid to enhance transparency, governance, and market-driven exchange rate operations. The new system is set to be fully implemented by…

The Nigerian naira saw a slight recovery on Thursday, October 3, 2024, as dollar supply in the official market surged significantly. According to data from the FMDQ, based on daily trades on the Nigerian Autonomous Foreign Exchange Market, the naira appreciated by 0.60%, closing at N1,659.26 per US dollar, compared to N1,669.15 on October 2,…

Justice Abdullahi Bawa-Faskari of the Katsina State High Court Wednesday dismissed the suit seeking the removal of Ambassador Umar Iliya Damagum as the National Chairman of the Peoples Democratic Party (PDP). A member of the opposition PDP, Ibrahim Musa, had approached the court, claiming that the replacement of Dr. Iyorchia Ayu with Damagum was against…

The Lagos State Goverment has announced plans to ban circulation of Single Use Plastics, such as pet bottles, sachet water, among others from January 2025 across the state. Recall that the state government had in January 2024 banned the use of styrofoam in all government establishments and across the metropolis in general, following increasing prevalence…

A Federal High Court in Abuja has issued an order barring the Directorate of Road Traffic Services (otherwise known as VIO) from further stopping vehicles on the road, impounding or confiscating vehicles, and imposing fines on motorists. Justice Evelyn Maha issued the order in a judgment on a fundamental rights enforcement suit: FHC/ABJ/CS/1695/2023 filed by…

A High Court of the Federal Capital Territory (FCT) in Maitama has summoned former Kogi State Governor, Alhaji Yahaya Bello, to appear before it on October 24 to face a fresh 16-count charge brought against him by the Economic and Financial Crimes Commission (EFCC). The EFCC has charged Bello, alongside two others—Umar Oricha and Abdulsalami…

The legal teams of the Federal Government of Nigeria and the National Assembly have countered a lawsuit challenging the establishment of the Nigeria Police Trust Fund. The suit is also seeking an immediate refund of all funds allegedly deducted illegally from the Federation Account. The Incorporated Trustees of the Advocacy for Human Rights and Anti-Corruption…

The High Court of the Federal Capital Territory in Maitama granted bail to former Taraba State Governor, Darius Ishaku, and Bello Yero, a former Permanent Secretary at the Bureau for Local Government and Chieftaincy Affairs in Taraba State. Both were granted bail in the sum of N150 million. They are standing trial for their alleged…

The Federal High Court in Abuja has struck out a suit challenging the legality of the Nigeria Customs Service’s (NCS) concession agreement concerning the $3.2 billion e-customs project. Justice Inyang Ekwo struck out the case on Wednesday, October 2, 2024, following a notice of discontinuance by the legal team of E-Customs HC Project Limited and…

The Federal Government has announced value added tax (VAT) exemptions for various energy products, including diesel, Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and electric vehicles, among others, in order to reduce prices. This is contained in a statement by The Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun, on…

A Federal High Court in Lagos has fixed October 21, 2024, for the hearing of pending applications in a suit filed by an investment firm, Barbican Capital Limited against First Bank of Nigeria Holdings Plc over the alleged disputes of its N5.4bn shares. Justice Ayokunle Faji, on Wednesday, adjourned the suit following an application from…

Oil marketers in Nigeria are facing difficulties purchasing petrol from the Nigerian National Petroleum Company Limited (NNPC) after the state-owned company shut down its portal used by dealers to apply for and purchase the commodity. According to petroleum marketers’ associations, dealers are still awaiting delivery of over 90 million litres of petrol valued at approximately…

A Federal High Court in Port Harcourt, the state capital, on Wednesday granted an order for substituted service in a case filed by Destiny Omereji and five others against Action People’s Party and 27 others. According to Excel Omeghara, counsel for the plaintiffs, Hart Badom, Destiny Omereji, and four others, the court’s decision was a…

The Economic and Financial Crimes Commission (EFCC) witness and former Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi, acknowledged during cross-examination by lead defense counsel Mr. Olalekan Ojo (SAN) that the objectives of the Naira redesign were to combat currency counterfeiting, curb hoarding, and promote the overall well-being of the Nigerian…

Justice Lewis Allagoa of the Federal High Court, sitting in Lagos, on Wednesday, struck out a charge against an Oil company, Great James Oil and Gas Ltd, accused of illegal importation of 1,570 firearms. The judge struck out the charge following a notice of discontinuance filed by the office of the Attorney Generals of the…