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Mr Devakumar Edwin, Group Vice President, Oil and Gas, Dangote Group, has called for cargo-backed financing to strengthen Nigeria’s shipping industry. Edwin made the call at the Nigeria Chamber of Shipping’s 2026 Members’ Evening in Lagos on Thursday. The event had the theme: ‘A Public-Private Dialogue: Unlocking Efficiency in the Marine and Blue Economy Value ...
Dangote Industries is in talks with the Kenyan government to develop a 1,000MW liquefied natural gas power plant as part of its proposed refinery project in Lamu, Kenya. The planned power facility is expected to be integrated into the refinery complex, creating a combined industrial and power hub in the coastal region. According to persons ...
Senegal plans to offer as many as 109 oil and gas blocks to local and foreign investors, according to the Minister of Energy and Petroleum, El Hadji Abdourahmane Diouf.Currently, only four out of the West African nation's 113 oil and gas blocks are under contract, the official told a local television channel. "The remaining 109 ...
The Transmission Company of Nigeria (TCN) says rehabilitation works have commenced on the four vandalised towers along the Afam/IPP/Elelenwo 132 Kilo Volt (kV) Double Circuit Transmission Line in Rivers. The management of the company said this in a statement in Abuja on Wednesday night. The company said that the affected towers, identified as T50, T51, T52 ...
The Federal Government is seeking to move Chinese participation in Nigeria’s power sector beyond conventional engineering contracts to co-investment in generation, transmission and hydropower projects, Nigeria's Power Minister, Joseph Tegbe has said. Tegbe made the proposal during high-level engagements with Chinese power engineering companies and financial institutions in Beijing, as Nigeria moves to accelerate infrastructure ...
The Nigerian Electricity Regulatory Commission (NERC) has revised the rules governing how electricity distribution companies (DisCos) use their earned non-administrative operating expenditure, with debt-free DisCos now required to channel 60 per cent of the applicable revenue into capital expenditure from February 2027. Under Order No. NERC/2026/062A, issued on September 4 and published by the commission ...
The House of Representatives Public Accounts Committee (PAC) has commenced an investigation into outstanding debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil companies with the liabilities put at ₦432.07 billion. The probe followed findings contained in the Auditor-General’s annual audit reports ...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned investors awarded flare-gas sites that their awards could be revoked if they fail to make considerable progress within one year. The Commission Chief Executive, NUPRC, Oritsemeyiwa Eyesan, disclosed this during a working visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja on Tuesday. Eyesan, who gave an update on the ...
The Transmission Company of Nigeria (TCN) has announced the tripping of the 100 Mega Volt Ampère (MVA) TR4 transformer at the 132/33 Kilo Volt (KV) Apo Transmission Substation. The management of the company announced this in a statement on its X handle in Abuja on Wednesday. According to TCN, preliminary findings indicate oil spillage on ...
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has rejected claims that discrepancies in gas flare penalty remittances amount to unaccounted revenue, saying the differences flagged in the Auditor-General of the Federation’s 2023/2024 report are due to timing and reconciliation issues. The MDGIF in a statement on Tuesday signed by George Ene-Ita, Director of Public ...
The Chairman of the House of Representatives Committee on National Planning and Economic Development, Hon. Gboyega Nasir Isiaka, has cautioned against calls to reinstate the petrol subsidy regime, warning that reversing the policy would derail recent macroeconomic gains and plunge the nation back into severe fiscal distress. Isiaka, who represents the Yewa North/Imeko-Afon Federal Constituency ...
The Nigerian National Petroleum Company (NNPC) Limited has signaled plans to introduce self-service fuel dispensing across its nationwide retail outlets. The national oil company teased the upcoming launch through a series of posts on its official social media handles, drawing parallels between automated fueling and earlier technology-led consumer revolutions in banking and dining. The company ...
Nigeria's national oil company, Nigerian National Petroleum Company (NNPC) Ltd has engaged in discussions with a Indonesia delegation on long-term Nigerian crude supply and investment in the country’s oil and gas assets. The NNPC GCEO, Bayo Ojulari received an Indonesian delegation led by the country’s Vice Minister of Foreign Affairs, H.E. Arif Havas Oegroseno, in ...
The Rural Electrification Agency (REA) and Family Homes Funds Limited (FHFL) have signed a five-year agreement to make energy planning and renewable power part of affordable housing projects from the design stage. The agreement, signed on September 3, 2026, in Abuja, means energy requirements will now be considered alongside other infrastructure needs in FHFL-supported housing ...
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 ...
Billionaire industrialist Aliko Dangote has launched the initial public offering (IPO) for the Dangote Petroleum Refinery, structuring Africa’s largest equity sale to welcome retail investors by setting the minimum purchase threshold at just 10 ordinary shares. Delivering remarks at the official IPO signing ceremony in Lagos, Dangote framed the landmark transaction as an intentional instrument ...
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 ...
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 ...
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 ...
Moody’s Ratings has upgraded the outlook on Seplat Energy Plc to positive from stable, while affirming the company’s B2 long-term corporate family rating and B2-PD probability of default rating. The rating agency noted that it's decsioob follows it's decision to revise Nigeria’s sovereign outlook to positive, reflecting the deep correlation between Seplat’s operational footprint and ...
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 ...
A university professor, Prof. Tunji Ogunyemi, has warned that the return of petrol subsidy could push more than 15 states in northern Nigeria into serious financial difficulties within a few months. Ogunyemi said the reintroduction of the subsidy could significantly reduce the funds available in the Federation Account, which remains a major source of revenue ...
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 ...
