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The Defence Industries Corporation of Nigeria (DICON) and Oida Energy Limited have signed a landmark Memorandum of Understanding (MoU) to establish the country’s first indigenous oilfield shaped charge manufacturing facility. The agreement, sealed at the Armed Forces Officers’ Mess & Suites in Abuja, is a major step towards strengthening Nigeria’s industrial and energy base while ...
By Olakunle Oke With 600 million Africans still living without electricity, the Global Energy Alliance for People and Planet (GEAPP) has launched a $16 million initiative at the UNGA to fast-track the continent’s shift to clean energy. The commitment, unveiled at the 80th United Nations General Assembly, is targeted at supporting Mission 300, an ambitious ...
...as Atlanta Mayor applauds conference The Managing director of Fidelity Bank, Dr Nneka Onyeali-Ikpe has stated that the Fidelity Nigeria International Trade & Creative Connect (FNITCC) is aimed at helping the country move away from its dependence on oil. Speaking over the weekend at the Fidelity-Nigerian International Trade Centre (FNITCC) in Atlanta, Georgia, she stated that a key part ...
By Olakunle Oke The Transmission Company of Nigeria (TCN) has energized a 60/75 MVA power transformer at the Delta 132/33 kV Transmission Substation, adding 48 megawatts of bulk electricity to the grid. The just completed project, is expected to ease chronic power shortages in Delta State. Communities such as Ndokwa, which have suffered more than ...
...hails President Tinubu’s deregulation policy for dismantling oil industry cabals By Obasola Tunde Nigerian billionaire businessman, Femi Otedola has issued a warning to Marketers stating that they can delay change, but you cannot stop it with the emergence of the Dangote Refinery. Recall that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) had accused the Dangote ...
By Olakunle Oke Billionaire businessman Femi Otedola has described the Dangote Refinery as a historic leap for Nigeria’s energy independence and a decisive transformation of the country’s petroleum sector. In a statement, Otedola congratulated Aliko Dangote on the refinery’s success since operations commenced, saying it represents a landmark achievement for domestic fuel production. He credited ...
By Olakunle Oke Nigeria’s upstream oil sector recorded a 5.5 per cent year-on-year increase in production in August 2025, averaging 1.63 million barrels per day (bopd) of crude oil and condensates, up from 1.58 million bopd in the same period last year. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its Crude Oil ...
Nigeria raked in $2.21bn from crude oil exports to the United States between January and July 2025, fresh data from the US Census Bureau and Bureau of Economic Analysis has revealed. The figure confirms Nigeria’s position as America’s biggest supplier of crude oil from Africa, even though shipments dropped compared to the same period last ...
The Federal Government has withdrawn 1,263 mineral licences from operators who failed to pay the mandatory annual service fees, Minister of Solid Minerals Development, Dr Dele Alake, announced on Sunday. The cancelled titles include 584 exploration licences, 65 mining leases, 144 quarry licences, and 470 small-scale mining leases. In a statement signed by his Media ...
By Olakunle Oke Power supply to parts of Kaduna South has been disrupted following the collapse of a transmission tower in Rigasa community. The Transmission Company of Nigeria (TCN) confirmed that Tower No. 7, located along the Kaduna Town Line I and II, gave way after a severe downpour and windstorm hit the area. During ...
Akwa Ibom State Government has launched a 10-year electricity reform plan aimed at providing reliable power to all households by 2034 and creating a blueprint for electricity reforms across Nigeria. Governor Umo Eno announced the plan on Friday at the conclusion of a two-day Electricity Summit held at the Four Points by Sheraton Hotel in ...
Savannah Energy PLC has signed a Share Purchase Agreement (SPA) to acquire a 50.1% interest in Klinchenberg BV from Norfund, the Norwegian investment fund for developing countries, in a deal worth up to US$65.4 million. The agreement, signed on Friday at a ceremony attended by Mr John Humphrey, His Majesty’s Trade Commissioner for Africa, marks ...
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has challenged West African Ventures (WAV) Nigeria Limited to expand its operations into the deepwater segment of the oil and gas industry. During a recent facility tour of the company's fabrication yard and jetties at the Federal Ocean Terminal ...
Close partnership and collaboration among African oil and gas producing countries are some of the strategies that would enable sustainable development of Africa’s oil industry, according to discussants at the Africa Content Forum, a segment at the 2025 Africa Oil Week holding in Accra, Ghana. The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), ...
Dangote Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) requested it to increase the price of petrol and diesel by N75 per litre, to allow its members to match the refinery’s gantry prices at their respective depots. If implemented, this would result in the pump price of Premium ...
By Olakunle Oke The Dangote Petroleum Refinery has alleged that members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) are demanding an annual subsidy of N1.505 trillion to enable them to match its gantry price at their depots. According to the refinery, while it supplies petroleum products to marketers at its gantry ...
…Warns against historical subsidy abuses, pledges logistics-free initiative. Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots. The refinery disclosed that although it offers petroleum products to marketers ...
By Olakunle Oke Africa’s richest man, Aliko Dangote, has clarified why it appears like his companies have a monopoly in cement production and crude refining. Responding to criticisms levelled against him abd his companies, Dangote explained that his companies operate in capital intensive sectors which not just anyone can play in. He however called for ...
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engineer Gbenga Komolafe has stated that the latest deals in the petroleum sector are proof that International Oil Companies are not exiting Nigeria but are merely rebalancing their portfolios. Komolafe stated this when representatives of Barclays Bank Plc visited the corporate headquarters of the NUPRC ...
Dr. Chuku Luka Ume, a Nigerian power sector expert, has provided a detailed analysis of the systemic issues plaguing the nation's power grid, leading to recurring collapses that severely disrupt both domestic and commercial life. In a recent interview, he pointed to a combination of factors, including the age and condition of the grid's infrastructure, ...
By Olakunle Oke The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has rejected recent claims by the Dangote Petroleum Refinery, accusing the company of spreading misleading and factually incorrect information that undermines Nigeria’s deregulated downstream oil sector. In a statement on Wednesday, DAPPMAN described Dangote’s allegations as distortions aimed at discrediting marketers and ...
…Warns against false monopoly claims in deregulated sector …Calls for balance between labour rights and national interest Former Senate Leader, Senator Ali Ndume, has warned labour unions and petroleum marketers to stop what he described as a deliberate campaign of hostility against the Dangote Refinery, urging them instead to embrace dialogue in the interest of ...
