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Energy
Heirs Energies has resumed gas supply to the 188-megawatt Geometric Power Plant in Aba, Abia State, after completing turnaround maintenance at its associated gas gathering facilities in Agbada, Rivers State. The development is expected to support the restoration of electricity supply across the Aba Power ring-fenced area, where recent gas shortages had disrupted power generation ...
Energy
Sahara Group has appointed Chidilim Menakaya as its new Managing Director. Menakaya, a transformation and strategy executive with more than two decades of experience across Africa, Asia, Europe and the Middle East, previously served as Director of the Sahara Foundation, where she led the company’s sustainability and social impact agenda. During her tenure at the ...
Energy
Nigeria’s crude oil production rose marginally in August to 1.5 million barrels per day, enabling the country to meet its OPEC quota for the fourth consecutive month, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The country produced an average of 1,500,190 barrels of crude oil per day in August, excluding condensates, ...
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Energy
The Centre for the Promotion of Private Enterprise (CPPE) has warned that restoring a universal petrol subsidy could expose Nigeria to an estimated ₦19.16 trillion in annual fiscal costs, urging the Federal Government to maintain downstream petroleum sector reforms and focus instead on targeted relief for households and businesses. The CPPE, in a policy brief ...
Energy
The Dangote Petroleum Refinery and Petrochemicals has disclosed its intent to list on the United States stock exchange after completing its planned expansion to 1.4 million barrels per day, President of the Dangote Group, Aliko Dangote has revealed. Dangote disclosed this in an interview with CNN, saying the US listing would come after the refinery ...
Energy
Global crude oil prices climbed above $100 per barrel on Thursday as renewed attacks on shipping in the Middle East heightened fears of further disruption to global oil supplies. Brent crude, Nigeria’s key export benchmark, rose as much as 5.8 per cent to $107.08 per barrel, while US West Texas Intermediate (WTI) gained 5.8 per ...
Energy
The Lagos State Electricity Regulatory Commission (LASERC) has granted Elektron Energy Development Strategies Limited a generation licence, clearing the way for its 40MW Victoria Island Power (VIPL) project to move towards commercial operations. The gas-fired plant is expected to begin commercial operations in December 2026, with plans to scale its capacity to 70MW. This approval ...
Energy
Dangote Industries is in talks with the Kenyan government to develop a 1,000MW liquefied natural gas power plant as part of its proposed refinery project in Lamu, Kenya. The planned power facility is expected to be integrated into the refinery complex, creating a combined industrial and power hub in the coastal region. According to persons ...
News
Housing finance must go beyond mobilising and managing funds to ensuring that Nigerians are able to convert those resources into actual homeownership, the Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi has said. Speaking at the 31st Annual National Conference of the Association of National Accountants of Nigeria (ANAN) in Abuja ...
Energy
The Federal Government is seeking to move Chinese participation in Nigeria’s power sector beyond conventional engineering contracts to co-investment in generation, transmission and hydropower projects, Nigeria's Power Minister, Joseph Tegbe has said. Tegbe made the proposal during high-level engagements with Chinese power engineering companies and financial institutions in Beijing, as Nigeria moves to accelerate infrastructure ...
Energy
The Nigerian Electricity Regulatory Commission (NERC) has revised the rules governing how electricity distribution companies (DisCos) use their earned non-administrative operating expenditure, with debt-free DisCos now required to channel 60 per cent of the applicable revenue into capital expenditure from February 2027. Under Order No. NERC/2026/062A, issued on September 4 and published by the commission ...
Energy
The House of Representatives Public Accounts Committee (PAC) has commenced an investigation into outstanding debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies with the liabilities put at ₦432.07 billion. The probe followed findings contained in the Auditor-General’s annual audit reports ...
Energy
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned investors awarded flare-gas sites that their awards could be revoked if they fail to make considerable progress within one year. The Commission Chief Executive, NUPRC, Oritsemeyiwa Eyesan, disclosed this during a working visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja on Tuesday. Eyesan, who gave an update on the ...
Business
Global fuel shortages could persist beyond the ongoing US-Iran conflict as damage to Middle Eastern refineries, high refinery utilisation and efforts to rebuild fuel inventories continue to constrain supplies, the Chief Executive Officer of Dangote Refinery, David Bird, has said. Bird told Reuters on Tuesday that the global refining system entered the conflict with high ...
Money market
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has initiated consultations with key government agencies as it prepares to showcase Nigeria’s oil and gas opportunities in China, aiming to draw fresh capital into the energy industry and boost revenue allocations to the Federation Account. The proposed Nigeria–China Oil and Gas Investment Summit, tentatively scheduled for ...
Money market
The Dangote Refinery’s planned public offering presents an unusual question for Nigeria: what happens when an industrial asset built by one of Africa’s richest businessmen is opened to millions of ordinary investors? That is the aspect of the IPO worth watching.The refinery aims to attract as many as 10 million investors, an unprecedented target for ...
Energy
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has rejected claims that discrepancies in gas flare penalty remittances amount to unaccounted revenue, saying the differences flagged in the Auditor-General of the Federation’s 2023/2024 report are due to timing and reconciliation issues. The MDGIF in a statement on Tuesday signed by George Ene-Ita, Director of Public ...
News
The Nigerian Content Development and Monitoring Board (NCDMB) will spotlight Paul C. Nwabuikwu’s new book, The Pain and the Promise: Insights and Fragments on Nigeria and People, Public and Personal, at the fifth edition of its Corporate Communications Book Reading Programme. The session, scheduled for Tuesday, September 15, 2026, will feature Nwabuikwu, a journalist, public ...
Energy
Nigeria's national oil company, Nigerian National Petroleum Company (NNPC) Ltd has engaged in discussions with a Indonesia delegation on long-term Nigerian crude supply and investment in the country’s oil and gas assets. The NNPC GCEO, Bayo Ojulari received an Indonesian delegation led by the country’s Vice Minister of Foreign Affairs, H.E. Arif Havas Oegroseno, in ...
Energy
The Rural Electrification Agency (REA) and Family Homes Funds Limited (FHFL) have signed a five-year agreement to make energy planning and renewable power part of affordable housing projects from the design stage. The agreement, signed on September 3, 2026, in Abuja, means energy requirements will now be considered alongside other infrastructure needs in FHFL-supported housing ...
