Author: Vardiafrica

In a major gain for President Bola Tinubu’s oil sector reforms, Nigeria’s Oriental Energy Resources Limited has unveiled a $315 million Floating Production, Storage and Offloading (FPSO) vessel to boost Nigeria’s oil production capacity. The vessel, with a storage capacity of one million barrels, which will kick off with an initial production of 17,000 barrels per day before increasing its production capacity to 30,000 bpd is expected to depart for Nigeria in the first quarter of 2025 and commence production at the Okwok Oil Field in the first half of 2025. Vice President Kashim Shettima, who represented President Bola Tinubu at the inauguration and naming ceremony…

The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, has assured that the Commission will soon complete the 2-Kilometre double-lane Kaa-Ataba Road with two bridges in the Khana and Andoni Local Government Area of Rivers State. Ogbuku gave assurance during an inspection of a 1.2-kilometer-long bridge on the road, accompanied by the NDDC Executive Director, Projects, Sir Victor Antai, and other Directors of the Commission. He stated, “The project is about 70 per cent done, and we are ready to complete it by the middle of next year. We have just finished discussing it with the…

The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday at the Delta State High Court Conference Hall, Asaba, held a one-day sensitisation workshop for High Court Judges and members of the legal profession on the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, its implementation and achievements to date. In his opening remarks at the event, the Director, Legal Services of the NCDMB, Barr. Naboth Onyesoh, said the Act, which established the Board, recognises the importance of other stakeholders to the successful implementation of the Nigerian Content law and expressly mandates the Board to create awareness and…

Abdullahi Ganduje, national chairman of the All Progressives Congress (APC),has announced the party’s intention to make Rivers state a stronghold by 2027. Ganduje spoke on Saturday while inaugurating Tony Okocha and 22 individuals as executive members of APC in the state. Ganduje said the APC is gradually making gains in a zone traditionally controlled by the opposition Peoples Democratic Party (PDP). He cited the party’s successes in Cross River state during Muhammadu Buhari’s presidency and Edo state under President Bola Tinubu as signs of progress. “You are from the South-South geo-politcal zone where the zone was dominated by the PDP.…

The Independent National Electoral Commission (INEC) has denied reports that Mahmood Yakubu, its chairman, is dead. A report on Saturday alleged that Yakubu had died in London following a “brief illness”. “Mahmood Yakubu, Chairman of Nigeria’s Independent National Electoral Commission (INEC), has died in London after a brief illness,” the report reads. “Sources reveal that he went to bed in good health but woke up with a serious medical emergency. “Despite his family’s efforts to secure the best care by transferring him to London for treatment, he was pronounced dead.” But speaking with TheCable, Rotimi Oyekanmi, chief press secretary to…

Governor Bala Mohammed of Bauchi State has urged President Bola Tinubu to remove what he called excess baggage within his cabinet. Mohammed gave this advice during the commissioning of the 14.1km Umuakali-Eberi Road in Omuma Local Government Area of Rivers State. He said while governors have confidence in the President’s leadership, the actions of certain cabinet members are undermining his efforts. According to him, the President must throw away the excess baggage, stressing the need for decisive action. Mohammed, who is the chairman of the PDP Governors’ Forum noted that the focus across various states should be on governance rather…

Lt. Changfe Maigari has made history as the first female pilot in the Nigerian Navy (NN) since its establishment in 1964. Maigari, a native of Langtang North Local Government Area of Plateau State, was born in Kaduna. She is married and has a daughter. Her journey began in 2016 when she graduated from the Nigerian Defence Academy (NDA) and was commissioned as a Sub Lieutenant. She later served aboard the Nigerian Navy Ship Unity. The milestone was celebrated on Friday at the 2024 NN Ceremonial Sunset held at the Naval Training Command Headquarters (HQ NAVTRAC) in Ebube-Eleme, Rivers State, where…

The Central Bank of Nigeria (CBN) has imposed a fine of ₦150 million on Deposit Money Banks (DMBs) found guilty of facilitating the illegal distribution of newly minted naira notes to currency hawkers across the country. This move follows recent clarifications from the apex bank regarding the validity of the old N1000, N500, and N200 banknotes, which remain legal tender in accordance with a Supreme Court ruling issued on November 29, 2023. The CBN emphasized that these denominations are still valid and warned against hoarding. In a statement signed by Sidi Ali Hakama, the Acting Director of Corporate Communications, the CBN addressed…

South Korea’s impeached president Yoon Suk Yeol on Saturday said he would “step aside” after parliament voted to remove him from office, urging an end to “politics of excess and confrontation”. “Though I must now step aside for a while, the journey toward the future… must never come to a stop,” he said in a televised address This was after South Korean lawmakers on Saturday impeached Yoon over his failed martial law bid, with the opposition declaring a “victory of the people”. The vote took place as hundreds of thousands took to the streets of Seoul in rival rallies for…

The Court of Appeal sitting in Abuja, on Monday, vacated the judgement that barred the Central Bank of Nigeria, CBN, from releasing monthly statutory allocations to Rivers State.A three-member panel of Justices of the appellate court, in a split decision of two-to-one, held that the Federal High Court in Abuja lacked the requisite jurisdiction to entertain the suit legal that led to the restraining order.It held that the fact that federal agencies were joined as parties in the matter was not sufficient to confer the court with unfettered jurisdiction to hear the case.According to the Justice Hamma Barka-led panel, since…