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Energy
The Nigerian National Petroleum Company (NNPC) Ltd is considering offering between five and 10 per cent of its shares to investors in its proposed initial public offering (IPO), with plans to list primarily on the Nigerian Exchange (NGX) and potentially expand to international stock markets. The company also indicated that preparations for the public offering ...
Energy
Twenty years after it was first awarded, the Egbu 330/132/33kV electricity substation project in Owerri, Imo State, remains 85 per cent complete, with concerns over illegal structures, vandalism and other project execution challenges threatening the delivery of critical power infrastructure in the South-East. In a statement, the Niger Delta Power Holding Company (NDPHC) disclosed that ...
Energy
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will open its bidding portal for the 2026 oil and gas licensing round on November 20, as Nigeria intensifies efforts to attract investment into its upstream petroleum sector. The Commission Chief Executive, Oritsemeyiwa Eyesan, announced the date while wooing investors at the 2026 Abu Dhabi International Petroleum Exhibition ...
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Energy
The Africa Minigrid Developers Association (AMDA) and the Renewable Energy Association of Nigeria (REAN) have called on state electricity regulators to adopt naira-denominated licensing fees and more consistent regulatory requirements to encourage private investment in electricity projects across the country. The associations warned that differences in licensing charges, particularly fees linked to the United States ...
Energy
...as nine-month revenue drops by 80.7% Geregu Power Plc has extended its expected timeline for restoring full electricity generation capacity to December 2026, as prolonged transformer failures pushed its revenue down by 80.71 per cent in the nine months ended September 30. The electricity generation company disclosed the development in its unaudited financial statements filed ...
Energy
...as World Bank forecasts further price increases Nigeria could face renewed pressure on food affordability as rising global energy costs, higher fertiliser prices and disruptions to agricultural supply chains threaten to increase food production and transportation expenses, according to the World Bank's latest commodity market projections. The warning comes as the World Bank forecasts a ...
Energy
The Lagos State Consumer Protection Agency (LASCOPA) has recorded 556 complaints against Ikeja Electric Distribution Company (IKEDC) within nine months, highlighting persistent concerns over electricity billing and service delivery among consumers in the state. The agency disclosed that the complaints were received between January and September 2026, with 528 cases successfully resolved through its intervention, ...
Energy
The Nigerian Electricity Regulatory Commission (NERC) has called for increased private-sector investment in Nigeria's electricity industry, urging investors to take advantage of existing regulatory frameworks to develop sustainable power projects and improve electricity supply to businesses and households. NERC Chairman, Dr. Musiliu Oseni, made the call during a panel discussion at the 32nd Nigerian Economic ...
Energy
Seplat Energy Plc has restored 41 previously idle offshore oil and gas wells, adding 33,700 barrels of oil per day and 176 million standard cubic feet of gas per day to its gross joint venture production capacity in the first nine months of 2026. The Nigerian energy company disclosed the development on Thursday, October 29, ...
Energy
The Petroleum Technology Association of Nigeria (PETAN) has identified inadequate financing, expensive drilling equipment and the loss of skilled professionals as major challenges threatening Nigeria's ambition to increase crude oil production to three million barrels per day (3mbpd). The association estimated that approximately $6 billion would be required to acquire the equipment and infrastructure needed ...
Energy
The Nigerian National Petroleum Company Limited (NNPC) has unveiled a digital reporting system aimed at centralising sustainability data across its operations. The company announced the initiatives to mark World Sustainability Day 2026, describing the new platform, NNPC Stream, as its Sustainability Data Management and Reporting System. According to NNPC, the system brings sustainability information into ...
Money market
The Federal Mortgage Bank of Nigeria (FMBN) has launched a non-interest mortgage scheme aimed at expanding access to homeownership, with the first beneficiaries receiving keys to completed houses under a pilot project in Kano State. The product, known as Ijarah Muntahia Bittamleek, or lease-to-own, allows eligible National Housing Fund (NHF) contributors to occupy a property ...
Energy
The House of Representatives is pushing for stricter requirements for companies importing electric vehicles (EVs), Compressed Natural Gas (CNG) vehicles and related equipment into Nigeria, with emphasis on local maintenance facilities, technical expertise and consumer protection. The proposal, sponsored by Hon. Ademorin Aliu Kuye, seeks to ensure that businesses benefiting from government incentives for alternative-fuel ...
Business Direct
French energy company, TotalEnergies has completed the sale of its 10 per cent non-operated interest in oil-producing assets under the Renaissance joint venture in Nigeria to Vaaris for $800 million, while maintaining its economic interests in gas fields supplying Nigeria LNG. The transaction, announced on Tuesday concludes a divestment process initiated in January and marks ...
News
Ikeja Electric has acknowledged failing to provide the minimum 20 hours of daily electricity supply to customers on 20 Band A feeders across parts of Lagos, raising questions over possible compensation for consumers paying higher tariffs for improved service. The electricity distribution company disclosed the shortfalls in a public notice issued on Tuesday, October 27, ...
Energy
Nigeria’s petrol stock cover stood at 23.9 days in September, below the 30-day benchmark for the seventh consecutive month, as petrol consumption outpaced supply. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is in advanced discussions with the Nigerian National Petroleum Company Limited (NNPC) to establish a national strategic petroleum stock scheme to protect ...
Energy
The Chairman of the OTL Africa Downstream Energy Week Advisory Board, Otunba Adetunji Oyebanji, has warned that rising shipping costs, financing constraints and disruptions to international petroleum trade could undermine Africa’s fuel supply security despite growing refining capacity across the continent. Oyebanji raised the concern on Monday in Lagos while delivering his welcome address at ...
Energy
Nigeria’s position in the global gas industry could become increasingly important as global demand for natural gas is projected to rise by 31 per cent to 5.4 trillion cubic metres by 2055. This becomes key with Africa expected among the regions to drive future growth. The projection comes as Nigeria’s Minister of State for Petroleum ...
Energy
The Petroleum Technology Association of Nigeria (PETAN) has emphasised the need to strengthen indigenous technical capacity, expand opportunities for Nigerian oilfield service companies and improve skills development as the country seeks to advance its oil and gas industry. The association also stressed the importance of constructive engagement and independent media scrutiny in addressing the challenges ...
Energy
Nigeria's national oil company, Nigerian National Petroleum Company (NNPC) Ltd is exploring potential cooperation with a Chinese industrial group in crude oil production, gas commercialisation and energy infrastructure, as the national oil company seeks opportunities to expand its operations and attract investment. This is as NNPC held discussions with a delegation from China North Industries ...
