Connect with us

General News

ExxonMobil Gets Extra $1.5Bn for PNG LNG

Published

on

ExxonMobil.jpg
Kindly share this post

ExxonMobil has secured an additional $1.5 billion in debt financing for its $19 billion Papua New Guinea liquefied natural gas (LNG) project, its project partner Oil Search (OSH.AX) said on Friday.

The $1.5 billion in supplemental financing will help cover overruns at the 6.9 million metric ton (1 metric ton = 1.1023 tons) per year LNG development, where costs climbed to $19 billion from $15.7 billion late last year.

PNG LNG remains on track to deliver its first LNG cargoes in 2014, Oil Search said.

Partners in PNG LNG, led and operated by Exxon Mobil subsidiary Esso Highlands Ltd, include Oil Search, National Petroleum Company Papua New Guinea (NPCP), Santos (STO.AX), JX Nippon Oil & Gas Exploration, Papua New Guinea’s Mineral Resources Development Company and Petromin PNG Holdings Limited.

The PNG LNG project is Papua New Guinea’s biggest-ever resources development and could lift GDP by 20 percent.

Advertisement

Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

Published

on

Kindly share this post

Police in Abuja have uncovered a criminal group making fake diplomatic and government number plates.

Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

Ahmed Sanusi, commissioner of Police FCT, stated this during a press briefing on Friday.

He explained that criminals use these fake plates to dodge security checks and enter restricted areas.

The investigation started soon after Sanusi took office.

He noticed too many unauthorized cars driving around with official government and diplomatic tags.

Advertisement

“I immediately ordered a comprehensive investigation into this disturbing trend,” Sanusi said. He noted that these individuals use the plates as a cover to commit crimes and avoid arrest.

The police have already arrested several people caught using the fake plates.

They have also figured out who is making them.

The manufacturers operate outside Abuja, and police are actively hunting them down.

Sanusi kept their names secret so they would not flee.

Advertisement

He stressed that this is a highly profitable illegal business.

Buyers pay between N500,000 and N1.7 million for a single fake plate.

“This will tell you that they are making such huge expenditure because they have an agenda,” Sanusi explained.

“Now they will face punishment that is bigger than both the cost they incur and the agenda they are planning.”

The commissioner urged residents to report any cars with suspicious diplomatic plates.

Advertisement

He reminded the public that real diplomatic tags follow a very specific format.

A diplomatic number plate in Nigeria is a special vehicle identification tag issued to foreign embassies, high commissions, and accredited international diplomats.

 

Kindly share this post
Continue Reading

General News

Gavi Okays $500m for Vaccines, PHCs in Nigeria

Published

on

Kindly share this post

Gavi has approved $500 million to strengthen Nigeria’s immunisation programme, primary healthcare services and long-term vaccine financing.

Gavi Okays $500m for Vaccines, PHCs in Nigeria

The move followed high-level discussions between Professor Muhammad Ali Pate, coordinating minister of Health and Social Welfare,  ]and Dr. Sania Nishtar, chief executive officer, Gavi in Abuja.

The funding, approved under the Gavi 6.0 programme, will support Nigeria’s efforts to accelerate routine immunisation, sustain polio eradication, expand HPV vaccination, strengthen primary healthcare services, and improve long-term vaccine financing.

Speaking during the meeting, Pate said Nigeria was strengthening its partnership with Gavi to accelerate immunisation, expand primary healthcare services, and ensure sustainable financing for vaccines.

He welcomed Gavi’s country-focused reforms, including the introduction of a predictable five-year funding envelope.

Advertisement

Pate said the US$500 million allocation will enable Nigeria to plan more effectively and deliver life-saving vaccines to more children and vulnerable populations.

The minister also revealed that quarterly visits to primary healthcare centreshad increased from about 10 million in 2023 to more than 45 million, reflecting significant progress in revitalising the country’s primary healthcare system.

Pate welcomed the announcement of a US$600 million pledge by the United States government to Gavi, describing it as a strong endorsement of the alliance’s leadership and the global value of vaccines.

He also commended Nishtar for prioritising Nigeria and praised the closer coordination among Gavi, World Health Organisation (WHO), UNICEF, World Bank, Gates Foundation, and other development partners, describing it as a model that has improved efficiency and aligned support with Nigeria’s health sector reforms.

The minister expressed appreciation to Gavi and its partners for their continued technical and financial support, while calling on state governments to invest more in healthcare and immunisation to complement federal efforts.

Advertisement

 

Kindly share this post
Continue Reading

General News

The Journey to Financial Freedom: Priscilla, a PalmPay Agent Now Owns a Store

Published

on

Kindly share this post

For many women, financial independence means the freedom to provide for their families and build a better future. Yet, this remains out of reach due to limited access to opportunities, business support, and secure payment solutions.

Like millions of women in Nigeria determined to be financially independent, Pricillia started with a single PalmPay POS terminal, and as an agent, every successful transaction provided a commission which brought her one step closer to achieving her dream.

Through consistency, discipline, and support from the payment platform, she reinvested her earnings and eventually opened her own provision store.

“I started as just a PalmPay agent with one POS. The consistency of the platform gave me the confidence to expand. With the income I earned, I was able to open my own provision shop.” Priscilla said.

For Priscilla, PalmPay was more than a payment platform. Its secure payment infrastructure gave her the confidence to serve her customers, build trust, and grow her income.

Advertisement

Today, Pricillia has joined the statistics of SMEs powering Nigeria’s economy and PalmPay continues to support her daily operations, helping her receive payments, as she works towards her next business milestone. Her journey is a reminder that when women have access to secure financial tools and opportunities, they can build lasting economic independence.

Speaking on Pricillia’s journey, Femi Hanson, Head of Marketing, PalmPay said: “Providing a secure platform that users can trust, whether for everyday payments or high-value transactions, is central to our vision of advancing financial inclusion. Priscilla’s story reflects our commitment to supporting the ambitions of Nigerians by providing a platform they can rely on to grow their finances. After all, seamless banking begins with security, and every successful transaction reinforces the trust our users place in us.”

Priscilla stands among thousands of PalmPay agents nationwide who are helping to expand financial access across Nigeria while earning commissions to create sustainable sources of income for themselves.

Every payment tells a story. It begins with trust, the confidence that your money is secure and that financial services are accessible. And when that opportunity reaches women, it creates ripple effects that transform families, strengthen communities, and drive economic growth.

Advertisement

Kindly share this post
Continue Reading

Trending