Regulators
Africa Energy Bank to take off Q1: 2025
Exciting developments are on the horizon with the anticipated launch of the Africa Energy Bank (AEB) set for the first quarter of 2025. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources, has announced that this significant financial institution will be headquartered in Nigeria’s capital, Abuja. With a deadline of January 28, 2025, for its…
Lagos State Launches Industrial Policy 2025-2030
The Lagos State Government has unveiled its new Industrial Policy (2025-2030) to foster a sustainable industrial environment. Commissioner for Commerce, Folashade Ambrose presented the policy during the Lagos State Industrial Policy Consultative Assembly at Alausa Ikeja. Ambrose emphasized the need to realign industrial strategies with modern economic trends, sustainability, and global competitiveness. The policy aims…
“In a country where 129 million are living below the poverty line amid harsh economic conditions, importers will inevitably pass this new fee of 4% FOB costs on to consumers, further straining the budgets of millions of struggling households. And industries that import their raw materials whose duties are only 5%, the customs agency will now charge importers an extra 80% of the duty amount as administrative fees.” – Bukola Saraki, former Senate President.
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FIRS Largest Employer of Chartered Accountants – ICAN
The Chartered Accountants of Nigeria (ICAN) has commended the Federal Inland Revenue Service (FIRS) for being the largest employer of chartered accountants in the country. “Out of the 66,000 chartered accountants in the country today, more than 2,800 are in FIRS, the largest by any government agency,” said Davidson Alaribe, the President of ICAN. Alaribe…
Dangote Refinery Reacts to Global Fall in Crude Oil Prices
Dangote Petroleum Refinery on Saturday reacted sharply to the trending decline in international crude oil prices. The refinery announced an adjustment to its ex-depot price of petrol, from N950 to N890, effective from Saturday, February 1. A statement from Dangote Petroleum Refinery, issued by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, said that…
NNPC Ltd, Partners Site Five Mini-LNG Plants in Ajaokuta
▪︎Groundbreaking of five mini-LNG plants by the Minister of Petroleum Resources (Gas), Hon Ekperikpe Ekpo, in Kogi State, yesterday. The NNPC Ltd. and its partners have launched five mini-Liquefied Natural Gas (LNG) Plants in Ajaokuta, Kogi State, on Thursday. The groundbreaking ceremony was performed by the Honorable Minister of State for Petroleum Resources (Gas), Ekperikpe…
UNICAL: Minister of State Petroleum Resources (Gas) successfully defends PhD dissertation
The Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has successfully concluded the defense of dissertation pursuant to obtaining PhD in Environmental Pollution and Toxicology from the University of Calabar. The exercise which had external and internal examiners in attendance was held in the Department of Zoology and Environmental Biology, Faculty of Biological…