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By Seun Ibiyemi The House of Representatives has secured the commitment of seven major oil companies to settle a total debt of $37,435,094.52 (approximately ¦ 58 billion) owed to the country before August. This was disclosed in a statement by the Spokesman of the House of Representatives, Rep. Akin Rotimi Jr., in Abuja on Monday. ...
By Seun Ibiyemi The Nigerian Content Development and Monitoring Board (NCDMB) has acquired a 20 per cent equity stake in a 100,000 barrels per day (bpd) refinery project, in collaboration with African Refinery Group Ltd and the Nigerian National Petroleum Company (NNPC) Ltd. The share purchase agreement, formalised last week, integrates NCDMB as a significant ...
The Federal Government, through the Minister of Power, Adebayo Adelabu, has strongly condemned the attack carried out by Nigerian Air Force (NAF) personnel on the headquarters of the Ikeja Electricity Distribution Company (IKEDC) on Thursday. In a statement released over the weekend by Bolaji Tunji, Special Adviser on Strategic Communications to the Minister of Power, ...
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted refining licences to three companies for the establishment of new refineries in Abia, Delta, and Edo States. These upcoming refineries are projected to add a combined refining capacity of 140,000 barrels per day (bpd) to Nigeria’s domestic refining sector. An official post by the ...
By Seun Ibiyemi The Petroleum Technology Association of Nigeria (PETAN) and the Abia State Government have joined forces to establish ABTAN Energy, a strategic partnership aimed at advancing oil exploration and production in the state. This collaboration marks a significant step towards harnessing Abia’s hydrocarbon resources, boosting economic growth, and creating job opportunities within the ...
Nigeria imported fuel and diesel valued at about N930 billion in February 2025, despite increasing local refining capacity, raise concerns about policy direction and economic rationale. The latest data on fuel imports shows that, in addition to the N930 billion spent in February 2025, oil marketers licensed by the Nigerian Midstream and Downstream Petroleum Regulatory ...
The Nigerian Content Development and Monitoring Board (NCDMB) on Thursday achieved a much-needed consensus among critical oil and gas industry stakeholders and manufacturers to ramp up in-country production and utilisation of line pipes in oil and gas operations, as part of the strategy deepen local content, and conserve foreign exchange and create jobs. The Oil ...
...Signs Landmark agreement with Ssonic Petroleum Ltd to Supply 80mmscf/d The NNPC Gas Marketing Ltd, a subsidiary of the NNPC Ltd, and its Unincorporated Joint Venture partner, NIPCO Gas Ltd, have executed a Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd to supply natural gas to the company’s proposed Liquefied Natural Gas (LNG) ...
The Transmission Company of Nigeria (TCN) has said it will conveniently evacuate 10,000 megawatts (mw) of generated power in less than two years from now. Alhaji Sule Abdulaziz, Managing Director, TCN, said this while briefing State House Correspondents on Thursday. He said for the first time in the nation’s history, the power sector recorded a ...
The House of Representatives Committee on Environment has called on the Nigerian National Petroleum Company Limited (NNPCL) to begin the clean-up of communities affected by a recent oil spill and fire incident. Chairman of the committee, Rep. Julius Gbabojor, made this statement on Thursday in Abuja, following a hearing on a petition against the activities ...
The National Union of Electricity Employees (NUEE) has issued a warning of an impending nationwide strike if authorities fail to ensure the safety and protection of its members working in the country’s power sector. This threat follows an alleged assault by military personnel on employees of Ikeja Electric (IE) after the company disconnected power supply ...
The House of Representatives Committee on Environment, has urged the Nigeria National Petroleum Company Limited (NNPCL) to commence the clean up of communities affected by its oil spill and fire incident. Rep. Julius Gbabojor, Chairman of the committee, on Thursday in Abuja, said this was the resolution of the committee, following a hearing over a ...
Nigeria’s crude oil production increased in February, 2025 with the country producing approximately 70,000 barrels per day above its Organization of the Petroleum Exporting Countries quota, according to a Reuters survey. OPEC’s oil output increased last month, driven by resilient Iranian exports despite renewed U.S. restrictions and Nigeria’s production exceeding its 1.5 million bpd target ...
The House of Representatives Committee on Public Petitions has directed the Managing Director of the Niger Delta Development Commission (NDDC) to appear in person before it on Tuesday, 11 March, to explain the circumstances surrounding the abandonment of the contract for the construction of the Okpai shoreline protection and landing jetty in Delta State. The ...
...Tariff increase will push available generation to 7,000MW The Minister of Power, Mr Adebayo Adelabu, on Wednesday reaffirmed the Federal Government’s dedication to delivering a stable and reliable electricity supply to Nigerians. This was disclosed in a statement issued in Abuja by Mr Bolaji Tunji, the Special Adviser on Strategic Communication to the Minister of ...
The Rural Electrification Agency (REA) has officially commissioned a 440kWp interconnected mini-grid in the communities of Etomi, Agbokim, Abia, and Bendeghe in Etung Local Government Area, Cross River State. The initiative is designed to accelerate the development of Nigeria’s interconnected mini-grid market and provide clean energy access to approximately 125,000 beneficiaries. Implemented under the Interconnected ...
By Seun Ibiyemi The Transmission Company of Nigeria (TCN) has announced the country’s power generation reached 5,713.60 megawatts on Tuesday, marking the highest level in four years. In a statement on Tuesday, TCN revealed that the latest figure represents the highest peak generation for 2025 and was successfully transmitted across the grid. The new milestone ...
The Obololi community in the Southern Ijaw Local Government Area of Bayelsa has reported that no relief assistance has reached them following the oil spill on 16th February, which released crude oil and contaminated the River Nun. The National Oil Spills Detection and Response Agency (NOSDRA) traced the source of the spill to a 16-inch ...
The Abuja Electricity Distribution Company (AEDC) says it has taken delivery of vandalised electricity cables recovered by the Police Command in the Federal Capital Territory (FCT). AEDC’s Head of Marketing and Corporate Communications, Adefisayo Akinsanya disclosed this in a statement issued in Abuja on Tuesday. Akinsanya stated that the formal handover of the recovered items ...
By Seun Ibiyemi The Federal Government, through the Nigerian Electricity Regulatory Commission (NERC), has reported that the country’s 12 electricity distribution companies (DisCos) failed to collect approximately ¦ 60 billion in electricity bills in December 2024. This information was disclosed in the commission’s factsheet for the month under review. The substantial revenue shortfall raises concerns ...
Shell has called for the development of infrastructure to promote the growth of domestic gas and monetisation of the resource. “The infrastructure will support the delivery of gas from producers to consumers in an efficient way that is also transparent and cost effective,” Managing Director Shell Nigeria Gas (SNG) Ralph Gbobo said at a panel ...
Seplat Energy PLC, leading Nigerian independent energy Company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its audited results for the twelve months ended 31 December 2024, with a strong operational and strategic progress in 2024 culminating with the transformational acquisition of Mobil Producing Nigeria Unlimited (MPNU) - renamed Seplat ...
The Nigerian National Petroleum Company Limited (NNPC) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N860 per litre. The price cut comes amid a growing price war between major marketers and independent petroleum dealers, as well as fluctuations in global crude oil prices. The new ...
