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Energy
The Federal Government has set up an inter-agency committee to harmonise the economic assumptions used by government agencies for budgeting and planning. The committee will work on projections for crude oil prices and production, exchange rates, inflation and non-oil revenue after the Economic Management Team (EMT) identified conflicting assumptions among government agencies as one of ...
Energy
Government officials, regulators, investors and major players in Nigeria’s gas industry are expected in Lagos this month for the fourth edition of the Gas Investment Forum, as the sector looks to attract new capital into projects and infrastructure. The two-day event, scheduled for September 29 and 30 at the Oriental Hotel, Lagos, will be held ...
Energy
The Nigeria Independent System Operator (NISO) has revealed that it will sanction electricity distribution companies (DisCos) over outstanding obligations owed to the Nigerian electricity market and service providers. The development followed a four-day public hearing held from September 1 to 4, 2026, where NISO reviewed the outstanding obligations of DisCos and the payment plans proposed ...
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Energy
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed plans to put-up oil assets for auction at least once every year as it seeks to raise Nigeria’s crude production to 3 million barrels per day by 2030. The commission’s Chief Executive Officer, Oritsemeyiwa Eyesan in an interview with S&P global recently, said the licensing process ...
Energy
Customers of Ikeja Electricity Distribution Company (IKEDC) can now access up to N20,000 worth of electricity units on credit and pay later under a new service introduced by the electricity distribution company. The service, known as Energy Advance, allows eligible customers to obtain electricity units when their prepaid balance runs out, with the company currently ...
Energy
Electricity consumers across Nigeria failed to pay N48.85 billion in electricity bills in June 2026, data released by the Nigerian Electricity Regulatory Commission (NERC) has revealed. Commercial performance data released by the Nigerian Electricity Regulatory Commission (NERC) reveals that while the 11 DisCos billed their customers N240.71 billion for power consumed during the month, consumers remitted only N191.86 billion. This unpaid balance of N48.85 billion pushed the sector's overall ...
Energy
Nigeria’s energy sector could attract at least twice the level of investment it receives today within the next five years, the International Energy Agency (IEA) has said, raising fresh questions about what the country must do to convert its vast oil, gas and renewable resources into bankable projects. IEA Executive Director, Fatih Birol, gave the ...
Energy
The $4 million solar mini-grid project backed by All On and Energise Africa has moved into its deployment phase, with solar panels and other equipment now arriving at project sites across 19 communities in Jigawa and Bauchi States. The projects, being developed by indigenous renewable energy company, Maskh Nigeria Limited, are expected to provide electricity ...
Energy
Nigeria’s electricity distribution companies (DisCos) left N48.85 billion worth of electricity bills uncollected in June 2026, highlighting renewed pressure on the financial health of the power market. The latest commercial performance data from the Nigerian Electricity Regulatory Commission (NERC), released on September 2, showed that the 11 DisCos billed customers N240.71 billion for electricity during ...
Crime
At least 37 persons have reportedly died after inhaling toxic fumes during an alleged illegal petroleum-loading operation at Okari Jetty in Okrika Local Government Area of Rivers State. The incident occurred around midnight on Thursday, September 3, when youths from Okrika and neighbouring communities reportedly gathered at the jetty to load petroleum products from an ...
Energy
The highly anticipated initial public offering (IPO) of Dangote Petroleum Refinery is expected to open on September 14, with the share sale targeting between $1.55 billion and $1.8 billion, according to sources familiar with the transaction. The development follows a disclosure by Dangote Group President and CEO, Aliko Dangote, on Thursday that the IPO would ...
Energy
The Federal Government is targeting 2028 for the completion of the Oloibiri Museum and Research Centre in Bayelsa State, as part of efforts to preserve the history of Nigeria’s oil and gas industry. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this while speaking on the development of the project in Otuabagi, ...
Money market
The African Union (AU) will officially launch the African Credit Rating Agency (AfCRA) on October 7, 2026, in Port Louis, Mauritius, in a move aimed at changing how African economies and companies are assessed in global financial markets. President Bola Ahmed Tinubu in a post on Thursday welcomed the planned launch, describing AfCRA as another ...
Energy
The Niger Delta Power Holding Company (NDPHC) has revealed that it has recovered over $12 million in electricity debts from cross-border customers in Togo and other nations. This payment forms a part of the more than $50 million owed to the company, the NDPHC Managing Director, Engr. Jennifer Adighije, has disclosed. Adighije made the disclosure ...
Digital Economy
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has revealed that Nigeria is taking deliberate steps to transition from being a consumer of technology to an active builder and contributor to the global digital economy. Abdullahi stated this on Wednesday at the GITEX Nigeria Tech Expo in Lagos, where he ...
Energy
The Niger Delta Power Holding Company (NDPHC) is preparing to commence the second phase of the National Integrated Power Project (NIPP), with plans to deploy solar, mini-hydropower and off-grid solutions, particularly in Northern Nigeria. The Managing Director and Chief Executive Officer of NDPHC, Engr. Jennifer Adighije, disclosed this on Wednesday in Abuja during an oversight ...
Digital Economy
Nigeria’s drive toward achieving a $1 trillion economy by 2030 received a major boost on Tuesday as the highly anticipated GITEX Nigeria 2026 Tech Expo officially opened at the Landmark Centre in Lagos. The event brought together technology companies, startups, investors, innovators, and policymakers from around the world, with discussions focused on commercial scaling, international ...
Energy
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp decline in its financial performance in July 2026, with profit after tax (PAT) falling by nearly half as crude oil and gas sales weakened during the month. According to NNPC’s July 2026 Monthly Report, the company posted a profit after tax of ₦279 billion in July, down from ₦535 billion in June.Monthly revenue also fell ...
Energy
Nigeria has positioned its ongoing electricity sector reforms as a potential model for developing economies seeking to strengthen energy security and attract long-term investment amid growing global geopolitical tensions. The Minister of Power, Joseph Tegbe, made the case at the opening plenary of the Middle East Energy 2026 Leadership Summit in Dubai, where he argued ...
Energy
The Nigerian Institution of Petroleum Engineers (NIPetE) has called for stronger synergy between industry operators and professional bodies to equip Nigerian graduates with the hands-on, practical competencies required to compete in the energy sector. Speaking during an interview on the sidelines of the ongoing 2026 African Oil Week (AOW) in Accra, Ghana with NewsDirect, the ...
