Privacy Overview
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Enable or Disable Cookies
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
Punch Newspapers
Sections
’Femi Asu
The Federal Government is estimated to generate a total revenue of N7.9bn from the 161 companies shortlisted to advance to the final stage of the marginal fields bid round launched seven months ago.
The Department of Petroleum Resources had announced on June 1, 2020 the start of the 2020 Marginal Field Bid Round, which ‘is open to indigenous companies and investors interested in participating in the exploration and production business in Nigeria’.
The DPR said then that 57 marginal fields were available, with data from the agency showing that applicants would pay fees totalling N49.09m per field (comprising N5.5m and $115,000).
By Joy Mbachi
Awka, Jan. 7, 2021 Some Resident’s in Anambra capital city, Awka, have criticised the recent electricity tariff payable by power consumers across the country in the first month of the year.
This is in spite of the denial by the Nigerian Electricity Regulatory Commission (NERC) management of any hike in tariff.
News correspondent who sampled the views of residents on the increase on Wednesday reports that the consumers said that the increase would affect the living standard of the people in the negative.
Mr Marcel Ofor, a respondent, said that the increase at the beginning of the year when lots of spending had been made was insensitive to the hardship it would attract to the people.
Activities in the Nigerian maritime sector in 2020 were greeted with mixed feelings as the sector witnessed a lot of ups and downs.
In the first quarter of 2020, the sector recorded great improvement across the nation’s seaports as maritime activities boomed. Container traffics across the nation’s six seaports were on the increase due to local and foreign patronage by investors.
The ports within the period recorded high volume in foreign vessels. In the two ports in Rivers State – Onne and Rivers Port Complex, for instance, the volume of container traffic was so high that importers and clearing agents were smiling to the banks. It also generated huge revenue for the Nigerian Ports Authority (NPA) and the government.
Punch Newspapers
Sections
’Femi Asu
Electricity customers who paid for meters under the Meter Asset Provider scheme will be refunded, the Nigerian Electricity Regulatory Commission has said.
NERC said this on Wednesday in an emailed response, through its Head of Public Affairs, Mr Michael Faloseyi, to questions from our correspondent.
Following the recent announcement by the Federal Government that six million meters would be distributed at no cost to consumers under the National Mass Metering Programme, some customers who had already paid for meters had asked if their money would be refunded.
Under the MAP scheme, which kicked off on May 1, 2019, customers have two options for acquiring a meter: upfront payment and payment in instalments through metering service charge on a monthly basis.