Tag: nigerian energy

The Economic and Financial Crimes Commission, on Monday, filed 14 fresh charges of alleged N5.78 billion fraud against the former Kwara State governor, Abdulfattah Ahmed, and his Commissioner of Finance, Mr Ademola Banu, before a Kwara State High Court presided by Justice Mahmud Abdulgafar. The duo were charged with alleged diversion and misappropriation of public…

The United Kingdom aviation authorities have expressed readiness to discuss the issue of slot allocation to Air Peace, the Nigerian carrier, in its tier-A airport in Heathrow, London. In early September the Nigeria minister for Aviation and Aerospace development, Festus Keyamo, wrote a diplomatic letter to the United Kingdom aviation handlers requesting landing slots for…

Justice S.I. Sonaike of the Lagos High Court, TBS has adjourned the arraignment of two lawyers, Ademola Owolabi, the managing partner of Ademola Adetokunbo & Co., and Adebayo Akeju, who is a partner in a law firm called Adon Partners, Lagos, as well as a real estate developer, Alex Ochonogor, to November 28. Ochonogor is…

Emmanuel Ekpenyong’s lawyer has urged the Supreme Court to compel AGF Lateef Fagbemi to promulgate the order on foreign judgments. Mr Ekpenyong dragged the AGF to the Supreme Court after the Court of Appeal, in appeal number CA/A/132/2020, between Mr Ekpenyong and the Nigerian attorney general, dismissed the appeal on May 12, 2022. The appellate…

The federal government has officially approved Seplat Energy’s purchase of Exxon Mobil’s onshore assets, valued at $1.28 billion, more than two years after the deal was originally struck. This sale has faced prolonged regulatory delays since its announcement in February 2022. On Monday, Gbenga Komolafe, the chief executive officer of the Nigerian Upstream Petroleum Regulatory…

A prosecution witness, Stephen Gana, on Monday told an Abuja High Court that two companies belonging to former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele got preferential treatments in vehicle procurement contracts bidding. The witness, made this known while testifying in the case of alleged procurement fraud preferred against Emefiele by the…

The Minister of Power, Adebayo Adelabu, has said that private entities will need up to N750 to generate one kilowatt-hour of electricity because of the high cost of petrol. Adelabu said power generation will cost N950 per kilowatt-hour for those using diesel-powered engines. These, he argued, are more expensive than the N209/kWh being paid by…

The Nigerian Electricity Regulatory Commission (NERC) has announced plans to hold an investigative public hearing to uncover both immediate and underlying causes of recurring grid disturbances. This follows a series of grid collapses and widespread outages. In a statement issued on Saturday, NERC emphasised the importance of addressing the ongoing challenges with the national grid,…

The All Progressives Congress in Osun State and 19 candidates of the party in the forthcoming local government elections in the state have dragged the State Governor, Ademola Adeleke, and the Osun State Independent Electoral Commission before the court, following the disqualification of 19 of them from the proposed poll. Also joined as a co-defendant…

Mr Akinwumi Adesina, President African Development Bank Group (AfDB) has decried the state in which Nigeria remains stagnant in so many areas of development. Adesina said that after 64 years of independence, the country should be among the developed nations of the world. Adesina made the remark while delivering a lecture on “building a global…

The Abuja Division of the Federal High Court has awarded N70 million against the Nigerian police for firing a stray bullet that killed a nursing mother in a landmark judgement that caps over 20 years of litigation. Justice G. Olotu, on Friday, ordered the police to pay N10 million as general damages, N50 million as…

The NNPC Limited –Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has announced a major oil discovery through the successful drilling of the Meji NW-1 well. Located within Petroleum Mining Lease (PML) 49 in the shallow offshore area of the Western Niger Delta, this discovery marks a significant boost to Nigeria’s energy sector. The area falls…

A Federal High Court in Abuja is considering the legality of Nigerians in the diaspora operating chapters of registered political parties in their respective domains. When the issue, which is being challenged by the Independent National Electoral Commission (INEC), came up, Justice James Omotosho fixed October 22 for the hearing of a suit seeking to…

Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has pledged to confront the persistent challenges facing Nigeria’s aviation sector, particularly issues related to flight delays and cancellations. Keyamo’s pledge came in light of Nigeria’s recent removal from the Aviation Working Group’s watchlist of non-compliant countries, a significant milestone that reflects the country’s progress in…

In the face of the mounting global economic challenges and increased volatility, industry leaders, corporate governance experts, and business executives gathered for the 2024 Annual Corporate Governance Conference (ACGC) to explore strategies for ensuring long-term resilience and growth. The conference, themed “Corporate Survival and Sustainability: The New Face of Governance,” provided a platform for discussions…

A federal high court in Abuja has issued a stern warning to Adeola Ajayi, the newly appointed Director-General of the Department of State Services (DSS), against disobeying court-ordered visitation for Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB). Kanu has been in DSS custody since his re-arrest in Kenya and extradition to…

Akinwumi Adesina, president of the African Development Bank (AfDB), says the future of Nigerian youths does not lie abroad. Speaking during a public lecture organised to commemorate the 90th birthday of Yabuku Gowon, ex-military head of state, on Friday, Adesina said Nigeria must fix reasons for the massive exodus of Nigeria’s young and innovative talents…

A Chinese investor, Liu Yangxi, who is the Managing Director of BN Ceramics Industry Nigeria Limited and NB Ceramics Ltd, has approached a High Court in Abuja, praying it to award him the sum of N5billion over reports that falsely linked him to an alleged N17billion fraud. The plaintiff, in his suit marked: CV/3993/2024, told…

Hon. Justice Sanda Yelwa of the Lagos Judicial Division of the National Industrial Court has ordered the Pensions Alliance Limited to pay retiree Mr Ofunlana Oladimeji the sum of N8,608,464.36 (Eight Million, Six Hundred and Eight Thousand, Four Hundred and Sixty-Four Naira and Thirty-Six Kobo) Retirement Savings outstanding balance, and the sum of N1m general…

Ericsson Nigeria, an information and communications technology company, says there are plans to build a technology hub worth $19 million in the country. Peter Ogundele, the company’s managing director, spoke on the plan at the Nigeria-Sweden business forum, a gathering focused on trade, investment, digital economy, agriculture, and renewable energy. Ogundele said Ericsson has been…