Olusegun Odunewu

TotalEnergies signs deal with NNPCL, pledges $6bn in investment

TotalEnergies has announced the signing of a cooperation agreement with Nigeria’s oil firm NNPC Ltd for conducting methane detection and measurement campaigns using its...

Naira scarcity bites hard on Nigerians as Banks limit cash withdrawal

Business3 years ago

Cash scarcity bites harder in Lagos, Ogun, other major cities

Despite repeated assurances by the Central Bank of Nigeria (CBN) that there is enough currency in circulation, the cash scarcity in Lagos metropolis, Ogun...

Zenith Bank makes World Finance 100 listing for 2023

Business3 years ago

Zenith Bank makes World Finance 100 listing for 2023

Zenith Bank Plc has been listed in the World Finance 100 2023 released by World Finance Magazine, achieving the feat as the only Nigerian company...

Naira bounces back, closes at N874.79/$1 in official market

Business3 years ago

Naira maintains gain against dollar at official market  

The Nigerian naira maintained the gain recorded on Monday to further appreciate against the dollar on Tuesday, 19th December 2023, closing at N844.85/$1 at...

MTN, Airtel, others to fully bar SIMs not linked with NIN

Business3 years ago

MTN, Airtel, others to fully bar SIMs not linked with NIN

Telecommunications operators in Nigeria, including MTN, Airtel, and Globacom, among others, have been directed by the Nigerian Communications Commission (NCC) to implement full network...

EFCC detains ex-power minister, Agunloye for alleged $6bn Mambilla project fraud

Crime3 years ago

EFCC detains ex-power minister, Agunloye for alleged $6bn Mambilla project fraud

The Economic and Financial Crimes Commission (EFCC) has detained a former Minister of State for Power, Olu Agunloye, Channels Television reports. The commission had on December...

Lack of trust hindering stakeholders’s engagement in PPP projects--Experts

Business3 years ago

Lack of trust hindering stakeholders’s engagement in PPP projects–Experts

Experts have attributed the resistance usually put up by communities during Public Private Partnership projects in the country to the perception citizens have of the government...

No remedy for 25 Former Rivers Assembly Members-- PDP

Latest3 years ago

No remedy for 25 Former Rivers Assembly Members– PDP

The Peoples Democratic Party (PDP) asserts that there is no remedy for the 25 former members of the Rivers State House of Assembly who by virtue...

TotalEnergies signs deal with NNPCL, pledges $6bn in investment By Segun Odunewu, Lagos TotalEnergies has announced the signing of a cooperation agreement with Nigeria’s oil firm NNPC Ltd for conducting methane detection and measurement campaigns using its advanced drone-based AUSEA technology on oil and gas facilities in Nigeria. The French company head, Patrick Pouyanne, held a meeting with Nigeria’s President Bola Tinubu in Abuja on Monday, reiterating its commitment to business interests in Nigeria. According to a statement from President Tinubu’s office, Total Energies has committed to “invest $6 billion in the coming years,” with a focus on offshore oil projects and gas production across all terrains, as stated by Pouyanne. Tinubu’s meeting with Pouyanne follows similar discussions with oil majors Shell and Exxon Mobil as part of efforts to attract capital to Africa’s leading energy producer. The statement notes that Nigeria’s oil output, the largest economy in Africa, has experienced a decline over the years due to large-scale theft and sabotage. However, recent months have seen an uptick, aided by offshore production, which is less susceptible to attacks. Tinubu has committed to removing “anti-investment impediments in the oil and gas industry” and providing incentives to producers to enhance gas output. The pledge from an oil major to commit $6 billion to the Nigeria oil and gas industry comes after other oil majors like Shell who recently pledged to invest $5 billion into Nigeria’s deep-water project at Bonga North. The special adviser to the President on Energy, Olu Verheijen recently announced securing $13 billion in investments in the oil and gas sector from IOCs like Shell, ExxonMobil and others. Nigeria’s oil sector has seen divestments from oil majors in recent times especially from onshore fields into deep water projects citing insecurity, maturing wells and others. President Tinubu since his inauguration has sought to address issues leading to divestments in not just the oil sector but across all sectors of the economy.

News3 years ago

Utomi, Iyere launch FOOD4ALL Initiative, task FG on food security

Founder of Centre for Value in Leadership (CVL),Professor Pat Utomi has stressed the need for Nigeria to attain food security, adding that without it, the country’s...

NDLEA seeks closer collaboration with EFCC

News3 years ago

NDLEA seeks closer collaboration with EFCC

The National Drug Law Enforcement Agency, NDLEA has called for closer and stronger collaboration with the Economic Financial Crimes Commission, EFCC in the task of fighting...

National Daily Newspaper

Stories By Olusegun Odunewu

TotalEnergies signs deal with NNPCL, pledges $6bn in investment

Cash scarcity bites harder in Lagos, Ogun, other major cities

Zenith Bank makes World Finance 100 listing for 2023

Naira maintains gain against dollar at official market

MTN, Airtel, others to fully bar SIMs not linked with NIN

EFCC detains ex-power minister, Agunloye for alleged $6bn Mambilla project fraud

Lack of trust hindering stakeholders’s engagement in PPP projects–Experts

No remedy for 25 Former Rivers Assembly Members– PDP

Utomi, Iyere launch FOOD4ALL Initiative, task FG on food security

NDLEA seeks closer collaboration with EFCC

Naira maintains gain against dollar at official market  