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A total of 172 Host Communities Development Trusts (HCDTs) have so far been incorporated by oil and gas companies operating in Nigeria, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed. The Commission stated that the implementation of the host community provisions under the Petroleum Industry Act (PIA) is driving investment in oil-producing areas, fostering ...
Many filling stations across the Federal Capital Territory (FCT) have increased the pump price of Premium Motor Spirit (PMS), popularly known as petrol. The development came in spite of a decline in international crude oil prices from 92 dollars barrel to 87.31 dollars per barrel. Brent crude stood at 88.10 dollars per barrel, down 0.47 ...
Electricity customers in Togo, Benin, and Niger failed to settle an outstanding balance of $11.16 million for power and related services supplied by Nigerian generation companies under bilateral arrangements in 2025, placing additional strain on payment flows within the regional electricity market. The unpaid sum represents the shortfall between the $73.91 million invoiced by the ...
The Federal Government has tasked petroleum engineers and other industry professionals with supporting its drive to increase Nigeria’s crude oil production to three million barrels per day (bpd) by 2030. The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, gave the charge on Saturday at the inauguration of the sixth National Chairman of ...
The Minister of Power, Joseph Tegbe, has assured industries operating along the 132kV Ikorodu–Sagamu corridor of sustained electricity supply, while warning that the Federal Government will take firm action against energy theft, meter tampering and other practices undermining the integrity of the power system. He gave the assurance during a high-level engagement with industrial customers ...
Nigeria’s 11 electricity distribution companies (DisCos) are owing ₦89.58 billion for the 2025 financial year despite being invoiced a combined ₦1.72 trillion for energy and administrative services. The DisCos paid ₦1.63 trillion of the invoices issued by the Nigerian Bulk Electricity Trading Plc (NBET) and the Market Operator, representing an aggregate payment performance of 94.8 ...
The Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Senator Magnus Abe has raised concerns over the prolonged delay in completing its proposed headquarters, stating that the situation damages Nigeria’s reputation and could undermine efforts to attract oil and gas investments. The proposed headquarters, known as “The Barrel,” is a 10-storey facility located in ...
The Chairman of Agege Local Government, Mr Abdul-Ganiyu Obasa, has pledged the council’s support for the 13MW Ogba Independent Power Plant (IPP). Obasa made the pledge on Thursday at the groundbreaking ceremony of the plant being developed by Sahara Power Group in partnership with Ikeja Electric Plc at the Ogba Undertaking of Ikeja Electric. He ...
By Firdaus Jibril President Bola Ahmed Tinubu has set October 1, 2026, as the target date for Nigerians to begin benefiting from lower transport fares, as the Federal Government and state governors move to translate cheaper CNG into reduced transportation costs. Tinubu disclosed this after discussions with the Nigeria Governors’ Forum, stating that the governors ...
By Firdaus Jibril The Dangote Petroleum Refinery has cited the increase in the importation of Premium Motor Spirit (PMS) a major reason for its export to the international market. In a statement on Wednesday citing data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the refinery noted that importation now accounts for about ...
Elektron Energy, an embedded power developer, on Thursday unveiled its Victoria Island Power (VIPL) project to customers and business leaders in Lagos. Newsmen report that the 40-megawatt power plant is designed to provide dedicated, embedded electricity to businesses in Victoria Island. Speaking at the event, Mr Ayomide Oladapo, Executive Director, Elektron Energy, said businesses in ...
By Firdaus Jibril The Nigerian Content Development and Monitoring Board (NCDMB) has urged African oil and gas companies to form cross-border partnerships and jointly execute major projects to create an integrated local content market across the continent. The Board highlighted that African operators can unlock significant opportunities through joint ventures, consortium bidding, subcontracting arrangements, and ...
By Imisioluwa Afunmiso President Bola Ahmed Tinubu has tasked Nigeria LNG Limited (NLNG) to eliminate gas flaring and channel the previously wasted resource into economic benefits for Nigerians. Tinubu gave the charge on Wednesday at the State House, Abuja, while receiving the NLNG Board, led by its Managing Director and Chief Executive Officer, Adeleye Falade. ...
By Firdaus Jibril The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has sought the support of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to raise Nigeria’s crude oil production to three million barrels per day and gas output to 12 billion cubic feet daily by 2030. The NUPRC Chief Executive, Mrs Oritsemeyiwa ...
The Minister of Education, Dr. Tunji Alausa, has commended the Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, for his transformational leadership at the agency. Speaking at the launch of the Renewable Asset Management Company (RAMCO) in Abuja yesterday, the Minister praised the agency's achievements under Abba Aliyu stating, "We are seeing the ...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has engaged Gas Processing Companies in a meeting aimed at strengthening compliance with regulatory standards and ensuring the sustained distribution of Liquefied Petroleum Gas (LPG) and Propane across the country. The engagement focused on the need for gas processors and other industry stakeholders to maintain the ...
...as 13,726 beneficiaries receive free eye-care services Seplat Energy has revealed that one of its community interventions in 2025 delivered reliable electricity to 138 households and businesses through a solar mini-grid The company disclosed this in its 2025 Social Performance Report, themed “Impact at Scale,” which highlights its interventions in energy access, healthcare, education and ...
The Federal Government of Nigeria has revealed that over 668,000 electricity meters have been installed nationwide. The disclosure was made on Wednesday by the Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, after the second meeting of the National Council on Privatisation (NCP) for 2026, chaired by Vice President Kashim Shettima at ...
The Renewable Asset Management Company (RAMCO) is set to boost power generation and improve the sustainability of Nigeria’s electricity assets, according to speakers at its launch in Abuja. Chairman of the Rural Electrification Agency (REA), Ayodele Fayose, described RAMCO as a major step for the electricity sector, stressing that building assets is not enough unless ...
...as REA MD says RAMCO will unlock fresh capital for sustainable renewable assets ...FG targets up to 6,500MW generation by year-end The Chairman of the Rural Electrification Agency (REA), Ayodele Fayose, has described the Renewable Asset Management Company (RAMCO) as the best thing to happen to Nigeria’s electricity sector. Speaking in Abuja at the launch ...
The establishment of the Renewable Asset Management Company (RAMCO) will ensure that Nigeria moves beyond merely building renewable energy projects to preserving their long-term value, performance, and commercial viability throughout their economic lifecycles. The Managing Director and Chief Executive Officer of the Infrastructure Corporation of Nigeria (InfraCorp), Dr. Lazarus Angbazo, made this known on Wednesday ...
The Federal Government risks losing billions of naira invested in clean power projects across the country's tertiary institutions if the facilities are not subjected to professional maintenance and rigorous asset management, the Minister of Education, Dr. Maruf Tunji Alausa, has warned. Alausa issued the warning in Abuja on Wednesday at the official launch of the ...
Nigeria must go beyond building renewable energy projects and focus on the professional management, maintenance and financing of those assets throughout their economic life, the Infrastructure Corporation of Nigeria (InfraCorp) has said. The Managing Director and Chief Executive Officer of InfraCorp, Dr Lazarus Angbazo, said this at the launch of the Renewable Asset Management Company ...
