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President Bola Tinubu, on Monday, in Abuja, called for an equitable balance between fossil fuel and green energy in the race for energy transition. He also urged the United States and other developed nations not to forget Nigeria and Africa’s challenge with poverty as the world transitions into clean energy. “The new energy we are talking about represents just 5 per cent of global energy requirements. We must find the […]

Many depot owners may soon shut down their facilities due to the inability to meet the new financial requirement of about N10bn by the Nigerian National Petroleum Company Limited as the cost of lifting fuel from its ships, “NNPCL has enough stock in-country and we still buy from them pending when arrangements would be made for us to start ordering our products ourselves. Now, we have to raise about N10bn, […]

The Switzerland-based global airline body-International Air Transport Association-on Sunday warned that rapidly rising levels of blocked funds were a threat to airline connectivity in Nigeria and some affected countries. IATA disclosed that the industry’s blocked funds had increased by 47 per cent to $2.27bon in April 2023 from $1.55bn in April 2022.  “Airlines cannot continue to offer services in markets where they are unable to repatriate the revenues arising from […]