Muyiwa Lucas

Lagos, Nigeria

Writer at The Nation (Nigeria)

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Oil price soars amid escalating tension

6 days ago | thenationonlineng.net | Muyiwa Lucas |Alao Abiodun

Filling stations across the Lagos metropolis at the weekend responded to the hike in the ex- depot price of Premium Motor Spirit (PMS), otherwise called petrol. The domestic rise in the pump price of the petrol locally, is in response to the rising crude oil price in the international market caused by the rising tension between Iran and Israel- a situation that has been further exacerbated by the intervention of President Donald Trump of the United States.
‘Infrastructure is backbone of development’

3 weeks ago | thenationonlineng.net | Muyiwa Lucas |Bolaji Ogundele |Tony Akowe |Ekaete Bassey

President Bola Ahmed Tinubu inaugurated the access road to the Lekki Deep Sea Port in Lagos yesterday and kicked off many projects across the country, promising to increase funding for critical infrastructure development. The President said his administration’s commitment to infrastructure development is part of a strategy to boost trade, agriculture, and regional connectivity.
Ekpo inaugurates first LCNG plant in Northeast

3 weeks ago | thenationonlineng.net | Muyiwa Lucas |Alao Abiodun

The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, yesterday inaugurated the first-ever Liquefied to Compressed Natural Gas (LCNG) hub located in the Northeast of the country in Yola, Adamawa State. A press statement quoted the minister as describing the project being promoted by Greenville LNG as a strong testament to the potential of public-private collaboration in advancing the Federal Government’s ‘Decade of Gas’ agenda.
Nigeria’s KGG hub wins IGU award

1 month ago | thenationonlineng.net | Muyiwa Lucas |Alao Abiodun

The Kwale Gas Gathering (KGG) hub, located in Kwale, Delta State, earned Nigeria the Regional Gas Award for Africa by the International Gas Union (IGU) at the 29th World Gas Congress (WGC) which ended in held in Beijing, China, at the weekend. The event was the premier gathering of the global gas and energy industry, hosted by the International Gas Union (lGU). IGU represents over 90 per cent of the global natural gas production and consumption market.
What retention of lending rate at 27.50% means for economy, by experts

1 month ago | thenationonlineng.net | Taofik Salako |Nduka Chiejina |Muyiwa Lucas |Collins Nweze

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) yesterday retained the benchmark interest rate and other key monetary policy parameters. The MPC, the highest policy-making body of the apex bank, left the Monetary Policy Rate (MPR) at 27.50 per cent after its meeting in Abuja. The MPR is the benchmark interest rate that guides other rates across the economy.
Naira posts mixed performance across markets as oil prices rebound

1 month ago | thenationonlineng.net | Collins Nweze |Muyiwa Lucas

Forex reserves sustain rally to $38.2 billionThe global oil market navigated a web of conflicting signals, as a shifting interplay of global events, supply expectations, and economic changes made investors uncertain and cautious. As a result, brent crude price swung within a tight band, ultimately inching up by 2.4 per cent week-on-week to $64.52/bbl.
High hopes from NNPCL as new board takes off

2 months ago | thenationonlineng.net | Bolaji Ogundele |Muyiwa Lucas |John Ofikhenua |Elo Edremoda |Alao Abiodun

The newly reconstituted board of Nigerian National Petroleum Company Limited (NNPCL) yesterday got off to a mix of applause and targets set by the government and the public. In a decisive move aimed at bolstering Nigeria’s oil and gas sector, President Bola Ahmed Tinubu yesterday reconstituted the board of NNPCL. The overhaul saw the exit of board chairman, Chief Pius Akinyelure and Group Chief Executive Officer (GCEO), Mallam Mele Kolo Kyari, along with all the members appointed in November 2023.
NAF, Ikeja DisCo in talks over power outage at Military Base

Mar 4, 2025 | thenationonlineng.net | Precious Igbonwelundu |Muyiwa Lucas

The Nigerian Air Force (NAF) and the Ikeja Electric Distribution Company (IE) have opened talks over the prolonged power outage at the Sam Ethnam Base, Ikeja. The blacout has raised security concerns at the Base, home to NAF Logistics Command. The Base, which also houses NAF’s critical military hardwares and logistics supply, has been without power for about two weeks, it was gathered yesterday.
BUA Group begins LNG plant

Jan 31, 2025 | thenationonlineng.net | Muyiwa Lucas

The BUA Group said it has commenced the development of a 700-ton-per-day (700TPD), 45mmscf Mini-LNG Plant in Kogi State, with a groundbreaking ceremony held in Ajaokuta, Kogi State.
Ekpo urges Seplat Energy on natural gas delivery

Jan 30, 2025 | thenationonlineng.net | Muyiwa Lucas

The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has urged Seplat Energy Producing Nigeria Unlimited (SEPNU) to accelerate its natural gas delivery efforts for domestic use and export. Ekpo made this call at a meeting with SEPNU’s senior management, led by Managing Director, Dotun Isiaka, at the NNPC Towers office in Abuja, yesterday.