NNPC HAS NOT EXPLAINED MISSING $22.7BN – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI), an agency tasked with cleaning up the country’s oil industry, has said even though financial accountability has improved, the Nigerian National Petroleum Corporation (NNPC) still has not explained billions of dollars of missing revenue.
While energy producers had cooperated and complied with requirements to publish payments, NEITI had struggled with the NNPC, the Executive Secretary of the agency, Waziri Adio, was quoted by Bloomberg to have said in a March 7 interview in Abuja.
Read more…. https://newsbreakers.ng/nnpc-has-not-explained-missing-22-7bn-neiti/

FG URGE LAGOS-IBADAN RAILWAY CONTRACTOR TO WORK 24-HOURS, MEET DECEMBER DEADLINE
The Federal Government has advised China Civil Engineering Construction Corporation (CCECC), the contractor handling the 150-kilometre Lagos-Ibadan railway project, to work day and night to avoid extending its delivery date beyond December this year.
The Minister of Transportation, Mr. Rotimi Amaechi, stated this on Monday after the monthly meeting of the Project Steering Committee with the CCECC team at the Papalanto rail/work station in Ogun State.
Read more… https://newsbreakers.ng/fg-urge-lagos-ibadan-railway-contractor-work-24-hours/


$12B TRANS-SAHARAN GAS PROJECT TO MISS 2018 DEADLINE
The $12 billion Trans-Saharan Gas Pipeline Project (TSGP), expected to help Nigeria achieve zero gas flaring by 2020, remains an illusion, 17 years after it was conceived.
The project should have been completed this year.
Nigeria signed a treaty with Niger and Algeria in 2009 to build the pipeline, which should begin from Calabar and pass through Kano to the border.
Read more….. https://newsbreakers.ng/12b-trans-saharan-gas-project-to-miss-2018-deadline/


HOW FAULTY BUSINESS MODELS, POLICIES AFFECT AIRLINE SURVIVAL IN NIGERIA
Beyond the prevailing harsh operating environment, the faulty business models airlines’ operators often adopt may be responsible for the perennial low market penetration and short lifespan of local carriers in the country, findings by The Guardian has shown.
Further findings by The Guardian also revealed that equally poor extant policies of regulators are not encouraging niche markets and other innovations to maximise the potential market at large.
Read more…. https://newsbreakers.ng/how-faulty-business-policies-shrink-air-travel-market-survival-of-airlines/


NATIONWIDE BLACKOUT LOOMS AS DEBTS THREATEN GENCOS’ OPERATIONS
Blackout looms across the country as huge debts continue to threaten the operations of Nigeria’s power generation companies (GenCos), a new payment schedule published by the Nigerian Bulk Electricity Trading, NBET, has shown.
According to the December 2017 electricity market payments published on Monday by NBET, there is about 92 per cent shortfall in the payment made to the GenCos by NBET.
Read more… https://newsbreakers.ng/nationwide-blackout-looms-as-debts-threaten-gencos-operations/