Author: Vardiafrica

The Federal Government has announced that sales of crude oil to the Dangote Refinery in naira will begin on October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known during a meeting with the Implementation Committee in Abuja on Monday. A post on the finance ministry’s official X (formerly Twitter) page stated that the meeting was held to assess the progress of key initiatives. During the meeting, the government outlined key roles for stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Central Bank of Nigeria, the Nigerian Upstream Petroleum…

The supreme court has reserved judgment in the appeal filed by the Social Democratic Party (SDP) and its candidate, Murtala Ajaka, challenging the outcome of the Kogi state governorship election. The Independent National Electoral Commission (INEC) announced Ododo, candidate of the All Progressives Congress (APC), as the winner of the Kogi governorship election held on November 11, 2023. Ododo polled 446,237 votes to defeat Ajaka who came second with 259,052 votes; and Dino Melaye of the Peoples Democratic Party (PDP) who scored 46,362 votes. Ajaka and SDP had challenged the result both at the Kogi state governorship election petitions tribunal and at the…

Oil marketers have attributed this round of scarcity of Premium Motor Spirit also known as petrol, to lingering logistics challenges. This was disclosed by the President of the Petroleum Products Retail Outlets Owners Association, (PETROAN), Billy Gillis-Harry who was a guest on Channels Television’s Morning Brief on Monday. According to him, oil marketers are currently supply constrained, and could “distribute only what we have”. He said, “I think until we get our supply challenges sorted out efficiently and abundantly, we will not be able to get out of this circle. “I believe you must have heard the NNPC’s communications director…

The Federal Government has instructed all higher education institutions in Nigeria to submit their matriculation lists to the Federal Ministry of Education within three months of matriculation ceremonies. The lists must be submitted through the Joint Admissions and Matriculation Board’s designated platform, as specified by the government. The initiative is part of a broader effort to tackle the issue of fake degree mills, following recommendations made by an Inter-Ministerial Investigative Committee established by the Federal Government in March. The committee was set up to investigate the activities of certificate racketeers, prompted by an exposé by Daily Nigerian that revealed the…

The federation account allocation committee (FAAC) says the three tiers of government shared N1.358 trillion in July. This represents N4 billion increase compared to the N1.354 trillion shared in June. On Friday, FAAC held its August meeting chaired by Wale Edun, minister of finance and coordinating minister of the economy. According to a statement by Mohammed Manga, director, information and public relations, ministry of finance, FAAC shared the amount from a total revenue of N2.61 trillion available in July. The revenue breakdown showed that statutory revenue was N161.5 billion, value-added tax (VAT) was N528 billion; electronic money transfer levy (EMTL) was N18.8 billion,…

President Bola Tinubu has returned to Nigeria after a three-day official visit to Equatorial Guinea. The jet conveying the president touched down at the presidential wing of the Nnamdi Azikiwe International Airport, Abuja, at about 6.30pm on Friday. Tinubu was received by Femi Gbajabiamila, his chief of staff (CoS); George Akume, secretary to the government of the federation (SGF); Nyesom Wike, minister of the federal capital territory (FCT); and Hope Uzodimma, governor of Imo, among others. While in Equatorial Guinea, Tinubu, along with Teodoro Mbasogo, the country’s president, signed an agreement on the Gulf of Guinea pipeline project, further affirming…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has warned filling stations against selling premium motor spirit (PMS), also known as petrol, to black marketers. In a post on X on Thursday, NMDPRA said failure to comply would result in suspension of licences. “NMDPRA embarks on a war against the illegal sale of petroleum products, especially PMS, in jerrycans. Filling stations are advised to desist from servicing illegal peddlers; failure to do so will result in the suspension of retail licences,” the regulator said. This directive follows a stakeholders’ meeting held in Abuja, where NMDPRA officials met with major retail outlet…

A Chinese firm, Zhongshan Fucheng Industrial Investment Company has announced the release of one of the three Nigerian presidential jets seized on the order of a French court. The company’s spokesperson disclosed this in a statement on Friday. According to the company, the release of the aircraft is a gesture of goodwill as they have been made aware that the Nigerian President, Bola Tinubu would be needing it for a scheduled meeting with French President, Emmanuel Macron. “It has now been made aware that an Airbus A330, currently detained in France as a result of a French court order obtained…

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Friday commissioned the 10,000 Tons per annum galvanizing plant constructed by Daewoo Engineeering Nigeria Limited, one of the engineering, procurement, and construction (EPC) contractors of the Nigeria LNG Limited (NLNG) Train 7 Project. The ceremony which held at Daewoo Galvanising Plant at Abam-ama, Okrika, Rivers State was attended by the Managing Director and Chief Executive Officer of NLNG, Dr. Philip Mshelbila. The Galvanizing plant is one of the capacity development interventions for the Train 7 project and the establishment is sequel to NCDMB’s…

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, on Tuesday visited the facilities of BEAMCO Nigeria Limited in Lagos and commended the oil and gas service firm for the giant strides it recorded in oil and gas equipment components manufacturing. Specifically he lauded the Nigeria Liquefied Natural Gas (NLNG) Limited, Saipem-Daewoo Joint Venture, and BEAMCO Limited for enhanced in-country value addition, as locally assembled pumps and valves are set for installation and pre-commissioning preparations on the multibillion-dollar NLNG Train-7 project on Bonny Island, Rivers State. Speaking at the load-out ceremony at BEAMCO’s facility at…