Nigeria’s largest independent oil producer, Aiteo, plans to spend as much as $5 billion to boost its oil and natural gas production in the next five years. Aiteo Eastern E&P Co. plans to drill new oil wells and re-open existing ones as it seeks to raise production, Chief Executive Officer Victor Okoronkwo said Tuesday in […]

The Federal Government has approved new staff conditions of service for the Accident Investigation Bureau. The General Manager, Public Affairs, AIB, Mr Tunji Oketunbi, said on Tuesday that the approval was conveyed in a letter dated June 25, 2019, and sent to the bureau from the office of the Head of Civil Service of the […]

Banks in the country have successfully linked 38 million accounts with the Bank Verification Numbers, according to the Central Bank of Nigeria. As part of its financial inclusion drive, the CBN said it was targeting 100 million BVNs in the next five years. According to the CBN, “In order to ease the constraint poor identification […]

The Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, on Tuesday, reeled out the over $8bn worth of deals currently being handled and pursued by the NNPC since the beginning of 2019, as he faces retirement in a couple of days. Baru is due for retirement on July 7 this year, as […]

The Organization of Petroleum Exporting Countries (OPEC ) announced the re-election of Nigeria’s Mohammed Barkindo as Secretary General for a three-year tenure. Barkindo, who is an accomplished oil technocrat with a wealth of experience in the oil and gas sector, was first elected as Secretary General of the bloc in 2016. Addressing newsmen at the […]

The Nigerian Communications Commission (NCC) has appointed Dr. Henry Chukwudumeme Nkemadu as its new Director,Public Affairs (DPA). His appointment, according to the Executive Vice Chairman (EVC), Prof. Umar Garba Danbatta, is in line with the Commission’s policy of putting round pegs in round holes for optimum delivery of responsibilities especially now that the stakes are […]

Nigerian pilots have raised the alarm over the poor state of runways in some airports. They are seeking urgent intervention from government agencies to avert accident. Measures, they said, should be taken to clear the runways of foreign object damage (FOD), including debris at the airside, which affects aircraft tyre types and other underbelly components. […]

THE Executive General Manager, Egina Close Out/Preowei Project, Total E&P Limited, Engr. Kayode Akioye, on Monday accused insurance firms in the country of not doing enough to grow the oil and gas sector. He urged the players in the sector to contribute their quota to the development of the oil and gas industry. Speaking at […]

The Nigerian Aviation Handling Company Plc has revealed plans to expand its agricultural export business following growth prospects in the sector. The Managing Director and Chief Executive Officer, NAHCO, Mrs Tokunbo Fagbemi, said the handling company planned to spend N3.6bn on equipment as part of the expansion. “The export business is actually growing especially agric […]

Chevron Nigeria Limited has announced that the fire at the Ojumole Well No. 1 in Ondo State has been safely put out, more than two months after it broke out. CNL is the operator of the joint venture between the Nigerian National Petroleum Corporation and CNL, and Ojumole field is in NNPC/CNL JV’s Western Niger […]