Nigeria’s Offshore Rig Counts Hit 12 In May As Demand Recovers         International Association of Drilling Contractors (IADC), Nigeria chapter, has hinted at slight market recovery going by the rig counts, stressing the need for prioritisation of training and retraining of members to meet industry’s standards. It,...

620,000 Jobs Created As CBN Releases N44bn To CTG Sector       Over 620,000 direct and indirect jobs were created in two years as a result of the Central Bank of Nigeria’s (CBN’s) intervention in the Cotton, Textile and Garment (CTG) sector. CBN Governor Godwin Emefiele made this...

Fed Govt Urges MDAs To Attract Foreign Investments       The Minister of Finance, Budget and National Planning, Zainab Ahmed has said it is important for government agencies to be committed to the pursuit of the earmarked 40 deliverables. She stated that attainment of these deliverables would guarantee...

NNPC Plans To Acquire Stakes In Six Private Refineries       The Nigerian National Petroleum Corporation on Monday said it is currently considering equity participation in some private refineries across the country. It said this was in line with a Federal Government’s policy directive which stipulated the mandatory...

$40bn Investments Needed To Boost Power Supply In Nigeria - FG       The federal government has said that there’s still a lot of financing gap in the country’s power sector, requiring an immediate funding of $40 billion in the generation, transmission and distribution value chain. The government...

7,000 Oil Reserves Discovered, Only 1,700 Producing – Fed Govt       The Federal Government on Monday disclosed that out of 7,000 oil reserves that have been discovered in the country, only 1,700 of the reserves are currently producing crude oil. The government disclosed this in Abuja through...