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Ex-PHCN Workers Storm Ibadan, Demand Payment Of Benefits

The Association of Former Staff of PHCN storm Ibadan, demands the payment of outstanding benefits of almost 50,000 disengaged staff of the defunct Power Holding Company of Nigeria [PHCN] since 31st October 2013. PHCN was unbundled and discontinued as a Government parastatal effective 1st November, 2013. The Association said payment of outstanding benefits include short payment of severance and gratuity, ...

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Breaking News: Explosion Kills Seven At Benin River Valve Station – NNPC

The Nigerian National Petroleum Corporation (NNPC) has reported an explosion incident which occurred at Gbetiokun, OML 40 and operated by the Nigerian Petroleum Development Company (NPDC), on behalf of the NPDC/Elcrest Joint Venture leading to the death of seven people . The incident, which occurred on Tuesday during the installation of a ladder on a platform (Benin River Valve Station) ...

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Oil Price Rises Above $31 As Demand Gradually Increases

On Wednesday, oil price rose above $31 per barrel, raising hopes for economic recovery as some countries ease coronavirus lockdowns. Brent crude has almost doubled since it hit a 21-year low on April 22, as there are expectations that demand will recover and also, a supply cut led by the Organisation of the Petroleum Exporting Countries may be recorded. Brent ...

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Oil Price Hits $34 As Trump Lobbies Saudi Arabia To Cut Production

Crude oil prices rose above $30 on Friday after indications that oil-producing partners of the Organisation of Petroleum Exporting Countries, also known as OPEC+, would hold a meeting on Monday. Donald Trump, president of the United States, had said a production cut as high as 15 million barrels may be implemented. He, however, did not indicate if the US would ...

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FG Reduces Fuel Price To N125 From N145 Per Litre

The Nigerian National Petroleum Corporation (NNPC) says the fuel pumps at its retail stations will be adjusted to N125 for each litre of petrol on Thursday. Mele Kyari, NNPC group managing director, said the adjustment is in compliance with the directive given by Timipre Sylva, the minister of state for petroleum resources. “In compliance with the directives of the honourable ...

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Reps Ask NERC To Suspend Electricity Tariff Increase

The house of representatives committee on power has asked the National Electricity Regulatory Commission (NERC) to suspend the planned increase in electricity tariff. NERC had directed the electricity distribution companies (DisCos) to enforce an upward review of the tariff starting from April 1. But at its meeting in Abuja on Tuesday, Aliyu Magaji, the committee chairman, asked NERC to issue ...

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NERC Directs DisCos To Increase Tariff…. Nigerians To Pay More For Power

Nigerians will now pay more for electricity as the Nigerian Electricity Regulatory Commission (NERC) has directed the 11 electricity distribution companies (DisCos) to increase their tariff from January 1. James Momoh, NERC chairman, and Dafe Akpeneye, its secretary, gave the directive in a memo sent to the DisCos. The commission had published the new tariffs for the different DisCos and ...

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Breaking News: NNPC Announces Discovery Of Oil In North-east

The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of oil in the north-eastern part of the country. Samson Makoji, acting group general manager, group public affairs division of the corporation, announced this in a statement on Friday. He said the discovery of oil and gas in commercial quantity in the Gongola Basin will “attract foreign investment, generate employment ...

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FG Committed To Delivering Effective Power Supply To Nigerians – Osinbajo

Vice President Yemi Osinbajo on Thursday reassured Nigerians that Federal Government was committed to ensuring effective and cost reflective power supply in the country. Osinbanjo gave the assurance during the official inauguration of the Niger Delta Power Holding Company (NDPHC) new 2×60MVA, 132/33KV substation and associated 132KV transmission lines in Abeokuta, Ogun. The News Agency of Nigeria (NAN) reports the ...

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BPE, Sam Amadi Bicker Over Failed Power Sector Reforms, Privatisation

The Bureau of Public Enterprises and a former chairman of the Nigerian Electricity Regulatory Commission, Sam Amadi, have clashed over the perceived poor performance of the power sector despite its privatisation and numerous reforms. In 2013, the former Power Holding Company of Nigeria (PHCN) was unbundled into 11 electricity distribution companies (DISCos), six generating companies (GENCos), and one transmission company ...

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