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Energy
The Economic Community of West African States (ECOWAS) has proposed a new approach to improving electricity supply to industries across the region, but questions remain over how the initiative will be financed and integrated into existing power infrastructure. The initiative, known as Power W.A. (Power West Africa) for Industrialisation, seeks to develop regional electricity corridors ...
Energy
Nigeria's electricity distribution companies (DisCos) recorded a combined ₦342.93 billion loss in uncollected revenue in the second quarter of 2026. An analysis of the Nigerian Electricity Regulatory Commission's (NERC) second-quarter 2026 report shows that the 11 DisCos received electricity valued at ₦946.57 billion between April and June but recovered only ₦603.64 billion from customers. This ...
Energy
Nigerian industrialist Aliko Dangote has acquired a 25 per cent stake in Kenya Pipeline Company (KPC) for approximately $327 million, strengthening his presence in East Africa's petroleum distribution sector as his group pursues a major refinery investment in the region. Dangote disclosed the acquisition on Wednesday at the Financial Times Africa Summit in London, where ...
News
The National Agency for Science and Engineering Infrastructure (NASENI) has commissioned a drone training centre and flagged off construction of a skill development centre in Kaduna State to expand technical training and employment opportunities for young people. The facilities were unveiled on Monday by Kaduna State Governor, Senator Uba Sani, at Rigachikun in Igabi Local ...
News
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged new oil block owners to strengthen their technical capacity and operational structures to avoid the difficulties experienced by previous operators of the oil assets. The Commission Chief Executive, Oritsemeyiwa Eyesan, gave the advice at the maiden onboarding workshop for holders of Petroleum Prospecting Licences (PPLs), where ...
Business Direct
The Federal Government has outlined plans to utilize future fuel-tax revenue to finance road infrastructure and establish strategic fuel reserves aimed at protecting Nigeria from disruptions in the global petroleum market. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this during an exclusive interview with ARISE News on the sidelines of ...
Energy
The Nigerian Content Development and Monitoring Board (NCDMB) has explained that oil and gas companies operating within Nigeria’s free zones are not automatically exempt from local content requirements and other applicable federal regulations, despite the investment incentives available to them. The Board stated that the special regulatory privileges enjoyed by businesses in designated free zones ...
Energy
The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Heritage Energy Operational Services Limited (HEOSL) and Global Oceon Engineers Nigeria Limited has launched a 12-month training programme to equip 48 Nigerians with specialised skills in subsea engineering. The initiative, which forms part of the Board's efforts to bridge technical skills gaps in Nigeria's ...
Issues of the Moment
As global oil prices rise, Nigeria stands to make more money from selling crude oil. However, for ordinary Nigerians, the same increase could mean higher petrol prices, more expensive transportation and a further rise in the cost of living. Nigeria may be heading towards a period of higher oil earnings as crude prices climb to ...
Energy
The Nigerian Content Development and Monitoring Board (NCDMB) and Dangote Petroleum Refinery and Petrochemicals are pushing for stronger local capacity to maintain and operate refineries, as industry stakeholders seek to reduce dependence on imported technology and services. The position was discussed at a Joint Technical Committee retreat held by both organisations in Lekki, Lagos, on ...
Energy
The Nigerian Content Development and Monitoring Board (NCDMB) has urged journalists in the South East to strengthen coverage of the oil and gas industry and hold operators accountable for compliance with local content requirements. The Board made the call at a capacity building workshop for media stakeholders in Anambra State, held in Awka on Thursday, ...
Energy
The Extractive Industries Transparency Initiative (EITI) has said the Nigerian National Petroleum Company Limited’s progress in financial disclosure and anti-corruption measures offers lessons for other national oil companies. EITI Executive Director, Mark Robinson, made the assessment after receiving NNPC Ltd’s 2025 Audited Financial Statement from the company’s Head of Global Compliance, Murjanatu Gamawa, at the ...
Energy
The Nigerian Electricity Regulatory Commission (NERC) has proposed a sector wide emergency cyber response mechanism to help electricity operators respond quickly to cyberattacks and strengthen the protection of Nigeria’s power infrastructure. NERC Chairman, Dr Musiliu Oseni, made the proposal on Thursday, at a cybersecurity awareness seminar, where he called for greater collaboration and stronger cybersecurity ...
Energy
The Major Energies Marketers Association of Nigeria (MEMAN) has called for a more structured domestic petroleum products distribution system to improve supply reliability, reduce costs and ensure fuel reaches consumers across the country efficiently. The association said Nigeria’s expanding refining capacity must be supported by better coordination of product supply, storage, transportation and distribution to ...
News
...As FCT expands infrastructure The Abuja Property Development Company (APDC) has been urged to lower the cost of housing in the Federal Capital Territory by addressing high land prices, expensive construction and limited access to affordable financing. The call came at the company’s 20th anniversary symposium in Abuja, where stakeholders highlighted the need to ensure ...
News
First Lady, Senator Oluremi Tinubu has commissioned 50 compressed natural gas (CNG) buses in Edo State. She also launched a ₦1 billion economic empowerment programme for 5,000 beneficiaries. The buses are expected to improve public transportation in the state, providing commuters with another transport option while supporting the Federal Government’s drive to expand the use ...
Energy
TotalEnergies has revealed that it is expecting a deepwater drilling rig to arrive in Nigeria by the end of October 2026 as the company prepares for new exploration activity amid efforts to attract more investment into the country’s oil and gas sector. The Managing Director and Country Chair of TotalEnergies Nigeria, Matthieu Bouyer, disclosed this ...
Energy
The Managing Director and Lead Country Manager of ExxonMobil Nigeria, Jagir Baxi has revealed that the $1bn Usan infill project is now in its execution phase. The $1bn Usan infill project is expected to add 40,000 barrels per day to the country’s oil production as the government seeks to raise output to three million barrels ...
Energy
...calls for social protection programmes The International Monetary Fund (IMF) has warned Nigeria against reinstating a blanket petrol subsidy, arguing that such a policy could place additional pressure on government finances while delivering disproportionate benefits to wealthier consumers. Instead, the Fund urged the Federal Government to prioritise targeted financial assistance and social protection programmes for ...
Money market
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Federal Government to prioritise subsidised mass transportation and support for food production, saying the current fuel price relief initiative offers limited benefits to households facing rising living costs. The organisation said the Nigerian National Petroleum Company Limited’s (NNPC) fuel discount would have a ...
