Author: Vardiafrica

A high-level delegation from the Democratic Republic of Congo (DRC), led by Minister of Hydrocarbons, His Excellency, Simplice Stev Onanga has arrived in Nigeria to understudy the Nigerian Content Development and Monitoring Board’s acclaimed local content framework for the oil and gas industry. Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, received the delegation in Abuja on Monday, reaffirming Nigeria’s commitment to knowledge-sharing with fellow African nations, particularly under the platform of the African Petroleum Producers Organisation (APPO). Lokpobiri highlighted that Nigeria has achieved 61% local content capacity since the enactment of the Nigerian Oil and Gas…

The Nigerian Civil Aviation Authority, NCAA, has directed Air Peace to compensate passengers affected by a delayed Lagos-Enugu flight on Monday. The directive followed a preliminary investigation by the aviation regulator, which found that the airline had sent passengers an incorrect notification regarding the flight. The development followed a complaint by human rights activist and lawyer, Inibehe Effiong, who accused Air Peace of irresponsibility and impunity after his Lagos-Enugu flight was delayed until the evening. Effiong said in a post on X on Monday that the delay would cause him to miss a scheduled court appearance in Enugu State. Effiong…

The Federal Government has said it has no plan to increase electricity tariffs. The Minister of Power, Joseph Tegbe, disclosed this on Monday at a media parley in Abuja, marking his first 100 days in office, covering June 8 to September 16. “Let me categorically state, and this is not a political statement, we have no plan to increase electricity tariffs,” he said. Tegbe said the government was focused on improving electricity supply and strengthening the financial and physical foundations of the power sector, rather than imposing additional costs on consumers The minister’s statement comes amid concerns over the financial…

The 300-million-dollar Nigeria Distributed Renewable Energy, DRE, Fund has commenced commercial operations, marking the start of capital deployment into renewable energy projects aimed at expanding electricity access across the country. The investment vehicle was formally launched on the sidelines of the United Nations General Assembly by the Nigeria Sovereign Investment Authority, NSIA, Africa50 and Sustainable Energy for All, SEforALL. The fund is expected to finance distributed renewable energy projects, including mini-grids and standalone solar systems, targeting communities and businesses that remain underserved by conventional electricity infrastructure. NSIA Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, said the commercial launch demonstrates…

President Bola Ahmed Tinubu will return to Nigeria at the weekend following the extension of his working vacation by a few days. President Tinubu departed Nigeria on August 30 for London, where he began the working vacation. After spending about a week in the United Kingdom, he proceeded to Paris, France, where he held separate engagements with French President Emmanuel Macron and businessman Vincent Bolloré, whose business interests span the media and entertainment sectors A statement issued on Monday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, announced the President’s expected return. While away,…

Vice President Kashim Shettima has arrived in New York, United States, to represent President Bola Ahmed Tinubu and lead Nigeria’s delegation to the 81st Session of the United Nations General Assembly, UNGA, with the Federal Government expected to use the high-level gathering to advance the country’s national interests and push for reforms of the global governance system. Shettima, who arrived in New York on Monday, said Nigeria’s participation at the General Assembly would be guided by its national interest, commitment to multilateralism and President Tinubu’s advocacy for a more representative international system that reflects contemporary economic and demographic realities. The…

Dangote Refinery has cut its petrol gantry price by ₦25 per litre, from ₦1,350 to ₦1,325 per litre, in a fresh downward adjustment coming just nine days after the refinery’s last upward review. The latest price represents a 1.85% reduction in the ex-gantry rate. The refinery had raised the gantry price from ₦1,265 to ₦1,350 per litre effective September 12, adding ₦85 per litre to its previous rate. The latest reduction comes as international crude prices retreat, with Brent trading at $100.40 per barrel, down 3.34%, while WTI stood at $92.40, down 3.83% as of the latest market update. The…

The Niger Delta Development Commission, NDDC, has emphasised the importance of Alternative Dispute Resolution, ADR, in ensuring timely resolution of disputes for effective project delivery and sustainable development in the Niger Delta region. Speaking at the opening of a three-day sensitisation programme for Contractors and Consultants in Port Harcourt, the NDDC Managing Director, Dr Samuel Ogbuku, said disagreements could arise during project execution, but what mattered was how quickly and professionally they were resolved. The Managing Director, represented by the Executive Director, Corporate Services, Hon. Ifedayo Abegunde, said Alternative Dispute Resolution was important because every project was more than a…

President Bola Ahmed Tinubu has directed the Federal Government to develop a roadmap for the full launch of Nigeria’s Digital Free Zones initiative within 180 days. The directive was given to the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who serves as Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones. According to a statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the initiative is designed to help Nigerian technology and service companies raise global capital, employ Nigerians and serve international markets without relocating their businesses and intellectual…

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has urged Niger Delta states to establish special economic zones. Ms Okonjo-Iweala made the call virtually on Tuesday at the Niger Delta Economic and Investment Summit in Port Harcourt. The summit, themed ‘Driving Investment, Innovation and Industrial Growth in the Niger Delta’, was organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA). The WTO chief said the Niger Delta could become Nigeria’s next major industrial hub, alongside Lagos. She, however, said abundant natural resources alone could not guarantee development without effective policies and adequate infrastructure.…