Browsing: Edo State

Michael James 08 September 2017, Sweetcrude, Lagos — Azura Independent Power Project, IPP in Edo State will add 459megawatts to…

“Also note that the Nigerian Extractive Industry Transparency Initiative (NEITI), in its 2014 Nigerian oil and gas report, disclosed that in 2008, the Federal government, in its fiscal regime for the petroleum sector, set a penalty of $3.5 per 1000 SCF of gas flared by oil companies, observing, however that the companies have refused to comply with the directive.”

The establishment of the fund was aimed at supporting the ministry’s policy framework, developing the sector and providing necessary administrative management of the fund in the following ways: the development of both human and physical capacity in the sector; funding for geoscientific data gathering, storage and retrieval to meet the needs of the private sector.