News

Reps Want Oil Companies Compelled To Generate Electricity From Gas

Published

3 years ago

July 25, 2023

Editor

The House of Representatives has urged the Federal Ministries of Power and Petroleum Resources to compel oil and gas producing companies engaged in flaring of gas to convert flared gas to electricity for the benefit of the host communities.

The call was sequel to a unanimous adoption of a motion by Rep. Jonathan Ukodhiko (PDP-Delta), at plenary on Tuesday.

Moving the motion earlier, Ukodhko said that Nigeria is a major gas producer with a large chunk being flared as waste.

He said that the flared gas is a major and cheap source of electricity, capable of taking care of the power needs of the host communities.

According to him, this can stimulate the economic growth of the country through small- and medium-scale businesses.

The lawmaker said that the volume of gas being flared has devastating effects on the lives and property of the host communities, ranging from various ailments associated with the smoke-polluted environment to corrosion that destroys roofing sheets and poor agricultural output as a result of intense heat on the environment.

He said that in spite of the huge contributions to the oil and gas to the wealth of the nation with attendant environmental and health hazards, Isoko Federal Constituency and other host constituencies have been in a total blackout.

According to him, this is in spite of the fact that the electricity can be easily tapped from the wasted gas resources;

“The staff of these International Oil Companies and other oil and production companies working in Isoko land live in extravagant comfort with 24-hour electricity generated internally for operational bases and residential areas.

“Whereas, the host communities and their environs live in squalor, watching helplessly the opulent lifestyle of the companies with their only offence being host communities.

“We are concerned that the deliberate refusal by the oil and gas companies and the successive administrations to permanently tackle the infrastructural deficit like electricity that could have been easily generated from the wasted gases have over the years made Isoko land as well as other communities in the Niger Delta region, a hotbed for protest and agitations that have sometimes crippled the economy and loss of precious human lives.

“We believe that with the environmental hazards of gas flaring resulting to the humongous revenue loss, there is an urgent need to compel the oil and gas companies to activate their corporate social responsibilities.

“They should provide electricity to the communities in Isoko land from the flared gas through gas turbines by taking advantage of the recent Electricity Act of 2023,” he said.

In his ruling, the Speaker, Rep. Tajudeen Abbas, mandated the Committee on Legislative Compliance when constituted to ensure implementation.
(NAN)

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

3 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

6 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.