Nigeria’s crude for May loading has been very slow to find buyers so far, with more than half of the scheduled cargoes yet clear. More than 30 of the nation’s cargoes are still looking for buyers, according to traders specializing in West African crudes. A total of at least 53 are scheduled to load from Nigeria next month, according to data compiled by Bloomberg. Most of the consignments are one million barrels. The country’s crude cargoes can be openly traded into either Asia, Europe or even the US, making the pace of sales a closely watched market detail. Demand for…

Nigeria's military said on Friday it had inflicted heavy losses on Islamist militant groups in the north and oil thieves in the south, arresting hundreds, seizing weapons and rescuing kidnap victims in a week-long operation. Defence spokesperson Edward Buba said in a statement that troops had killed or wounded 188 militants and arrested 330 suspects across different locations in the country. Security forces also arrested 36 suspected oil thieves in the Niger delta region and freed 133 kidnap victims, seizing around 270 weapons and more than 5,000 rounds of ammunition during the entire operation. "The armed forces are working decisively…

Amidst ongoing dust raised by the new electricity tariff at the backdrop of inadequate power supply, electricity generation nosedived to 2,775 megawatts, MW, yesterday, a 32.3 per cent decline from 4,099.87MW recorded last week. This was contained in the data released by the Nigeria Electricity System Operator, NESO, a semi-autonomous unit of the Transmission Company of Nigeria, TCN. Findings by Vanguard indicated that there has been no improvement in the power value chain despite the recent review of Band A power consumers’ billing as there is yet inadequate supply of gas to the thermal stations, including the poor state of…

PRESS RELEASE Despite Afenifere's March 2nd 2024 initial public demand for transparency of the Lagos-Calabar Coastal Highway contract awarded to Chagoury’s Hitech Construction Company, and ex-Vice President Atiku Abubakar further probing last week, the government has failed to answer the calls for transparency, and continues the nearly twenty years wastage on the Lagos-Epe corridor. Afenifere demands more clarity on the Lagos-Calabar Coastal Highway Contract, especially the Lekki-Epe corridor that has been a source of controversy since 2008, when it was awarded as Private Public Partnership contract to Craneburg Construction of 29 Bourdillion Avenue, President Bola Tinubu's neighbours with obscure directors,…