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The Federal Government has announced plans to sanction underperforming electricity distribution and generation companies (DisCos and GenCos) while introducing tariff reforms to drive Nigeria’s industrial growth. Minister of Power, Joseph Olasunkanmi Tegbe disclosed the initiative in a policy brief presented by his Special Adviser, Martins Olajide, during the Nigerian Economic Summit Group (NESG) industrialisation and ...
By Firdaus Jibril The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has identified regulatory uncertainty as a primary challenge for prospective investors, stating that while businesses are equipped to manage commercial risks, policy unpredictability makes committing capital far more difficult. The Authority stated that investors need clear rules, consistent decisions, and predictable regulatory processes ...
...cites ₦456.5bn debt, 71.88% operational losses By Firdaus Jibril The Nigerian Electricity Regulatory Commission (NERC) has given reasons why it dissolved the board of Kaduna Electricity Distribution Plc (KAEDC) and inaugurated an Interim Board of Special Directors to take over the utility. The regulator cited a cumulative market obligations of about ₦456.5 billion and Aggregate ...
By Firdaus Jibril Managing Director of the Rural Electrification Agency (REA), Dr Abba Abubakar Aliyu has described the Renewable Asset Management Company (RAMCO) as Nigeria’s strategic answer to long-term energy financing, noting that the initiative will transform existing projects into professionally managed, investible infrastructure portfolios. Aliyu, in an article titled “Beyond Building Mini-Grids: Why RAMCO Could Change the Economics of Renewable Energy in Nigeria,” argued that Nigeria’s renewable energy strategy should move ...
By Firdaus Jibril Dangote Petroleum Refinery has expanded its free petrol delivery programme to four additional states, extending the initiative to Kano, Imo, Anambra and Nasarawa. The four states join Lagos, Ogun, Rivers, Kaduna, the Federal Capital Territory and Delta, bringing the number of locations covered by the programme to 10. Under the arrangement, eligible ...
By Firdaus Jibril Youth groups in Ogoniland have called for direct participation in consultations and decision-making regarding the proposed resumption of oil and gas activities in the area, insisting they must not be excluded from discussions that directly affect their communities. The call was made by the Ogoni Oil and Gas Host Communities Youths Association, ...
The Federal Ministry of Power has announced the commissioning of upgraded transmission substations at Ijora and Apapa Road in Lagos, adding 208 megawatts (MW) to the bulk transmission capacity serving one of Nigeria’s major economic corridors. The ministry stated that the projects are aimed at strengthening electricity transmission and improving power supply to businesses and ...
By Firdaus Jibril Nigeria could be positioned to benefit from the latest surge in international crude prices as renewed tensions between the United States and Iran raise fresh concerns over global oil supplies. Brent crude rose to $91.49 per barrel on Tuesday, while West Texas Intermediate (WTI) climbed to $85.25, as markets reacted to fading ...
By Firdaus Jibril The Nigerian Electricity Regulatory Commission (NERC) has given the newly constituted Interim Board of Special Directors of Kaduna Electricity Distribution Plc (KAEDC) a 12-month mandate to reset the company and return it to a sustainable growth path. NERC Chairman, Dr Musiliu Oseni, gave the charge on Monday while addressing members of the ...
By Firdaus Jibril Nigeria’s active oil rig count increased by 20 percent in the first seven months of 2026, rising from 15 rigs in January to 18 rigs in July, according to data from the Organisation of the Petroleum Exporting Countries (OPEC). The increase points to stronger drilling activity in Nigeria’s upstream oil sector, as ...
By Firdaus Jibril The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Nigerian National Petroleum Company (NNPC) Limited to turn its planned refinery revival partnership into a binding agreement with clear deadlines and performance targets. PETROAN made the call in a statement signed by its Special Adviser on Media, Chris Odia, ...
Geregu Power Plc has announced the appointment of Engr. Mohammed Sani Jaoji as its Acting Chief Executive Officer, effective August 17, 2026. The company disclosed the leadership transition in a corporate action filing submitted to the Nigerian Exchange Limited (NGX) and the investing public, signed on behalf of the Company Secretary, StructureHQ Limited, by Gbeminiyi ...
A former National Chairperson of the Nigerian Institution of Mechanical Engineers (NIMechE), Mrs Funmilade Akingbagbohun, has called for more safety measures to support the Federal Government’s expanding Compressed Natural Gas (CNG) programme. Akingbagbohun made the call in an interview with newsmen on Sunday in Lagos, commending the progress recorded in the deployment of CNG as ...
An energy development economist, Prof. Ken Ife, has called on President Bola Tinubu to take the Nigerian National Petroleum Company Ltd. (NNPCL) to the capital market. The expert made the call in an interview with newsmen on Sunday in Lagos, following the Federal Government’s plan to invest in the refineries. Ife. Development Economist and Lead ...
By Firdaus Jibril Dangote Petroleum Refinery has exported 476,000 metric tonnes (MT) of refined petroleum products across nine cargoes in August, with shipments bound for markets in Africa, Europe, and Asia, according to shipping data reviewed by Petroleumprice.ng. The shipments comprised fuel oil, aviation turbine kerosene (Jet A-1), automotive gas oil (AGO), and premium motor ...
By Firdaus Jibril The Nigerian National Petroleum Company Limited (NNPC Ltd.) and Seplat Energy Plc have held discussions on plans to increase oil and gas production across their jointly held assets. The meeting took place when the Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, received Seplat Energy’s newly appointed Chief Executive Officer, ...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are strengthening their inter-agency collaboration to implement a domestic crude oil and gas swap framework designed to reduce logistical costs and improve petroleum product availability across Nigeria. The Commission Chief Executive of the NUPRC, Mrs. Oritsemeyiwa Eyesan, announced ...
Dr Mohammed Shehu, Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says the commission has completed reviews of the revenue allocation formula and remuneration for political, public and judicial office holders. This is contained in a statement by Hajia Maryam Yusuf, Head, Information and Public Relations Unit of the commission, on Saturday in Abuja. Shehu ...
The FGN Power Company (FGNPC) has reaffirmed its commitment to strengthening technical capacity and promoting innovation in Nigeria’s electricity sector. The commitment was demonstrated through its support for the Visiola Foundation’s 2026 Science, Technology, Engineering and Mathematics (STEM) Summer Camp. Ms Magdalene Abang, Communications Lead, FGN Power, made this known in a statement in Abuja ...
By Firdaus Jibril President Bola Ahmed Tinubu has promised greater involvement for the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) in the implementation of the Federal Government’s Compressed Natural Gas (CNG) initiative. Tinubu made the commitment on Thursday in Abuja when he received the national executive of NUPENG, led by its National President, ...
By Firdaus Jibril The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have renewed their commitment to closer coordination as they work to improve regulation across Nigeria’s petroleum industry. The NUPRC Chief Executive, Mrs Oritsemeyiwa Eyesan, made a return courtesy visit to the NMDPRA Chief Executive, Mallam ...
By Firdaus Jibril Aradel Holdings Plc has revealed plans to begin producing petrol at its modular refinery by 2027. Temitayo Ogunbanjo, who manages Aradel’s refinery business, disclosed the plan in an interview with Bloomberg, saying the deregulation of Nigeria’s downstream petroleum market had created a pathway for the company to begin manufacturing petrol. The refinery ...
The Governor of Ondo State, His Excellency, Hon. Lucky Orimisan Aiyedatiwa, has assented to the Ondo State Electric Power Sector (Amendment) Law, 2026, strengthening the legal and institutional framework for electricity generation, transmission and distribution across the State. The new law, which was passed by the Ondo State House of Assembly, amends the Ondo State ...
