Author: Chief Editor

Heavy flooding, upstream gas supply issues and pipeline vandalism have left the six-train Nigeria LNG (NLNG) facility on Bonny Island producing far below capacity since last year, with the trend largely continuing in 2023, a Natural Gas Intelligence (NGI) report has noted. Liquefied natural gas exports have been “protractedly declining” since the 22 million metric tons/year NLNG declared a force majeure in October 2022 due to flooding, NGI stated, quoting Kpler analyst, Ana Subasic. “Nigeria’s LNG exports have been lower, but steady since the beginning of this year,” Kpler stated. Subasic said NLNG, a major Atlantic Basin supplier since 1999 when…

Despite adding about 48,000 barrels per day in February, Nigeria’s oil rigs count stagnated at 13 during the month, THISDAY analysis of the latest data released by the Organisation of Petroleum Exporting Countries (OPEC) has revealed. Hope of new investment in the oil and gas sector in the country grew markedly in January when Nigeria’s oil rigs count rose markedly from six to 13 between January 2022 and the same period in 2023 as earlier indicated by Baker Hughes figures. But the velocity has now been slowed, with the February data showing that no new rigs came into the country,…

Power Generation Companies (Gencos) have listed some issues affecting operators and investors in the Nigerian Electricity Supply Industry (NESI), which they want the next president to pay priority attention to. Executive Secretary of the Association of Power Generation Companies (APGC), Dr Joy Ogaji, in an exclusive chat with THISDAY, said the next administration should clear the Gencos’ N1 trillion outstanding debt, which they are being owed for years. Ogaji added that the next government should also resolve the gas supply challenge that has been hampering power generation, make foreign exchange accessible to them and ensure adequate risk protection mechanism for Gencos…

In less than three months from now, a new administration would take charge of Nigeria’s economy. Agric stakeholders, in this article have unveiled a set of targets for the incoming president to latch on in order to bring about significant growth in Nigeria’s food sector. Gilbert Ekugbe writes. “To whom much is given, much is expected.” But so much resources invested in Nigeria’s agricultural sector over the years, have been yielding poor results. Moreover, the sector’s growth under the present administration remains the weakest since 1999. According to data released by StatiSense, the sector grew at an average of 15 per cent…

The stock market of the Nigerian Exchange Limited (NGX) yesterday opened the new trading week extending its losing streak for the seventh consecutive session as investors’ weak sentiment trading down market capitalisation by N16 billion. The NGX All Share Index (ASI) decreased by 29.35 basis points or 0.05 per cent to close at 54,886.04 basis points, while the market capitalisation lost N16 billion to close at N29.900 trillion. Analysing by sectors, the NGX Banking Index added 1.3per cent, and NGX Industrial Goods appreciated by 0.1per cent, while the Insurance Index down by 0.5per cent and NGX Consumer Goods Index depreciated…

Rivers United have completed the signing of Mohammed Shiraz from Nigeria National League side, City Football Club of Abuja. DAILY POST, reports. Shiraz, a Ghanian national, joined the Nigeria Premier Football League champions for an undisclosed fee. The prolific attacker’s arrival increased the number of Ghanians at the club to four. Seidu Mutawakilu, Emmanuel Ampiah and Paul Acquah are already key members of the squad. Shiraz’s arrival will add more bite to Rivers United’s attack that already boasted of some of the best legs in the country. Stanley Egunma-led side will take on Enugu Rangers in a rescheduled NPFL matchday…

Arsenal legend, Paul Merson has warned Chelsea owner, Todd Boehly not to sell midfielder Mason Mount. Merson believes that the England international has been Chelsea’s best player in recent seasons and was outstanding last year, The former England winger believes it would be ‘bad business’ to allow Mount, who came through the club’s youth formation to join a Premier League rival. The Three Lions midfielder has established himself as a mainstay in the Blues over the past four seasons. The youth team product has made 192 appearances for the west London side, helping them to win the Champions League under…

Arsenal legend, Paul Merson has made a fresh Premier League title prediction and warned striker Gabriel Jesus he would need to be patient as he doesn’t get in Mikel Arteta’s team on current form. Arsenal moved eight points clear of second position Manchester City after beating Crystal Palace 4-1 over the weekend. But Pep Guardiola’s side have a game in hand. And Merson believes Arsenal’s form over the past weeks has been ‘unreal’ and has backed the Gunners to win the title ahead of Man City. “Arsenal’s destiny will be decided when the TV fixtures get released, in terms of…

Former Premier League striker, Clinton Morrison has backed Romelu Lukaku to succeed at Chelsea next season as long as he keeps fit. Belgium international Lukaku is currently spending season-long loan at Inter Milan after his £97.5m return to Chelsea in 2021 failed to produce any success. But Inter have lingering concerns over Lukaku’s lack of fitness and the 29-year-old will be returning to Stamford Bridge at the end of this season. Morrison told Sky Sports that Lukaku will impress when he returns to Stamford Bridge in the summer. “Romelu Lukaku has gone on loan and there is talk of him…

Tottenham have been told to sign Burnley manager, Vincent Kompany as a replacement for Antonio Conte. Spurs’ hierarchy has reportedly decided to sack Conte this week after the Italian granted an explosive interview following Tottenham’s 3-3 draw with Southamton over the weekend. Conte had slammed his club’s owners, while also accusing his players of being selfish after the frustrating draw with the Saints. According to Daily Telegraph, Tottenham have already decided to let the Italian go later this week and believe the situation is ‘irretrievable’ following his recent outburst. And former Ireland and Chelsea striker, Tony Cascarino wants the club…