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The price of Liquified Petroleum Gas (cooking gas) rose by 44.62 percent from December 2023 to December 2024, a report by the Nigeria Bureau of Statistics (NBS) has revealed. According to the NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for December 2024, the average retail price for refilling a 5kg Cylinder increased from N4,962.87 ...
The National President of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, has praised President Bola Tinubu’s initiatives aimed at ensuring energy security in Nigeria. Shettima made the commendation at the Annual General Meeting (AGM) and the election of new executives for IPMAN’s Western Zone in Ibadan on Tuesday. According to Shettima, ...
Seplat Energy Plc, Nigeria’s leading indigenous oil and gas producer, has expressed its commitment to partnering with the Akwa Ibom State Government for sustainable development. This was disclosed during a courtesy visit to the State Governor, His Excellency, Pastor Umo Eno, by a Seplat delegation led by the Board Chairman, Senator Udo Udoma, in Uyo. ...
Dangote Petroleum Refinery & Petrochemicals, in partnership with Dangote Fertilisers Limited has awarded scholarships to 473 students from 10 secondary schools and 7 tertiary institutions. Students, parents, teachers, and community leaders expressed their immense joy as the scholarship certificates were presented to the beneficiaries, alongside educational materials, including textbooks and notebooks, as part of the ...
The Nigeria International Energy Summit (NIES 2025) is set to deliver a remarkable experience with its “Conversations with Energy Signature & Transaction Deal of the Year Winners” session, which promises to be one of the most captivating highlights of Africa’s premier energy event. This exclusive gathering will shine a spotlight on visionary leaders and transformative ...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Nigerians not to panic with the news of increase in the price of the Premium Motor Spirit (PMS). The National President, IPMAN, Alhaji Abubakar Shettima, disclosed this on Monday in Ibadan at the inauguration of the Ultra Modern Secretariat of IPMAN Western Zone. According to ...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has attributed the recent increase in Premium Motor Spirit (PMS) petrol to the rise in crude oil prices in the international market. According to PETROAN, the benchmark for oil prices, Brent crude oil, stood at $80.85 per barrel while WTI oil and the OPEC basket ...
...To publish ex-depot price, ex-vessel price weekly Following outcry over the recent adjustment of the pump price of Premium Motor Spirit (more often referred to as Petrol), the Dangote Refinery has stated that it is absorbing 50 percent of the costs to make Nigerians comfortable. In a statement on Sunday, the Dangote Refinery revealed that ...
By Seun Ibiyemi Dangote Petroleum Refinery has adjusted the ex-depot price of Premium Motor Spirit (PMS) from N899.50 to N950 per litre, citing the recent rise in global crude oil prices. The adjustment comes as Brent Crude prices surged by 15%, moving from $70 to $82 per barrel, alongside a $3 premium for Nigerian crude ...
The Director-General, National Oil Spill Detection and Response Agency (NOSDRA), Chief Chukwuemeka Woke has called for immediate repair of a leaking well-head at Bukuma in Degema Local Government Area of Rivers. Woke made the call during a tour to evaluate the extent of the spill which occured on a facility operated by the Nigeria National ...
The Minister of Power, Chief Adebayo Adelabu, on Friday decried the incessant vandalism of critical power transmission equipment in the country. Adelabu made this known at the official inauguration of a 100MVA Power Transformer at the 132/33kv Transmission Substation in Isolo, Lagos. According to the minister, the issue of vandalism being experienced in all the ...
By Seun Ibiyemi The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reiterated its commitment to fostering growth, sustainability, and investment in the petroleum sector during the inaugural meeting of the Petroleum Industry Stakeholders’ Forum (PISF). In his address, the Authority’s Chief Executive, Farouk A. Ahmed, emphasised that the PISF provides a critical platform ...
As part of its effort in ensuring a global Net-Zero Goals with Commitment to Innovation, Collaboration and Research in Nigeria, Chevron Nigeria has restated its stand on continuous investment in reducing carbon intensity and expanding lower-carbon businesses, thereby supporting a lower carbon future. Chairman and Managing Director of Chevron Nigeria, Jim Swartz stated this in ...
The Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) has unveiled Gbenga Komolafe, Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Sir Emeka Okwuosa, GCEO, Oilserv Limited as part of the speakers set to grace the stage of thus year's conference. The conference is set to take place from February 11 ...
In December 2024, Nigeria achieved 98.97 percent of its crude oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC’s average daily quota for the month was 1.5 million barrels per day (mb/d) of crude oil. However, Nigeria’s output stood at 1.48 mb/d of crude oil, 49,276 barrels per day (bpd) ...
By Seun Ibiyemi The Minister of Power, Adebayo Adelabu said on Monday that Nigeria’s power generation increased by 30 percent in 2024. The Minister, speaking during a budget defence session with the Senate Committee on Power, revealed that his administration inherited an average generation capacity of 4,100 megawatts (MW) in 2023 and raised it to ...
The prices of refined petroleum products may increase in the coming days due to the rise in Brent crude oil prices. On Sunday, the price of Brent reached $79.76 per barrel, and since crude oil is a key factor in determining the cost of refined products, this surge could lead to higher prices for gasoline, ...
The Dangote Petroleum Refinery is building eight new storage tanks with a combined capacity to hold 6.3 million barrels of crude oil to store imported crude. According to an exclusive report, the 650,000-barrel-a-day capacity refinery struggles to get an adequate local supply of crude, hence it is increasing its crude import this year. The Vice ...
The Minister of Solid Minerals Development, Dr. Dele Alake, has criticised the N9 billion capital budget allocated to the mining sector in the 2025 budget, calling for an upward review. This was disclosed via his X, formerly Twitter, page over the weekend. Alake revealed that he had submitted to the National Assembly (NASS) that the ...
IBEDC must establish a subsidiary, IBEDC SubCo, to take over intrastate electricity supply and distribution responsibilities in Niger State. The incorporation of IBEDC SubCo must also be finalised within 60 days from January 10, 2024. IBEDC SubCo is required to apply for and secure a license from NSERC for its operations in Niger State. The ...
...Issues captive power generation permits to Nigerian Breweries, universities By Seun Ibiyemi The Nigerian Electricity Regulatory Commission (NERC) has announced the transfer of regulatory oversight for the electricity market in Niger State to the Niger State Electricity Regulatory Commission (NSERC). The announcement was made via NERC’s official X (formerly Twitter) handle on Friday. This development ...
The Transmission Company of Nigeria (TCN) says reports of a national grid collapse are false. Earlier on Saturday, media reports had claimed that the country experienced a blackout due to the collapse of the national grid. Addressing the issue in a statement, Ndidi Mbah, TCN’s general manager of public affairs, said the incident was a ...
Electricity consumers across Nigeria have failed to pay a staggering N348.84 billion of the electricity bills issued to them by the country’s 11 Electricity Distribution Companies (DisCos), according to a recent report. An analysis of quarterly reports published by the Nigerian Electricity Regulatory Commission (NERC) shows that the N348.84 billion in unpaid bills is part ...
