Nigeria and other member and non-member nations of the Organisation of Petroleum Exporting Countries reduced global crude oil supply by 1.9 billion barrels between May and November last year, OPEC stated on Tuesday. It made this known after concluding its…
Some residents in Anambra capital city, Awka, have criticised the recent electricity tariff payable by power consumers across the country in the first month of the year. This is in spite of the denial by the Nigerian Electricity Regulatory Commission…
Some Resident’s in Anambra capital city, Awka, have criticized the recent increase in electricity tariff payable by power consumers across the country in the first month of the year. Newsmen correspondent who sampled the views of residents on the increase…
By Ogaga Ariemu Nigerian Electricity Regulatory Commission (NERC), has denied reports in some media that its ordered 50 per cent electricity tarriff increase. This is was contained in a statement signed by the management of the commission on Tuesday 5th.…
Ten of the nation’s 29 power plants sat idle on Monday on the back of low load demand by the distribution companies and gas constraints. Total power generation in the country fell to 4,112.10 megawatts as of 6am on Monday…
The international oil benchmark, Brent crude, tumbled on Monday after hitting a record high of $53 ahead of the meeting of the Organisation of the Petroleum Exporting Countries and its allies. OPEC and its allies, a group known as OPEC+,…
The 13th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference, concluded on Tuesday, 5 January 2021. The Meeting, which reconvened following an initial round of discussions on 4 January, reaffirmed the continued commitment of the participating countries in the…
The Federal Government has given Nigerians bitter pills to swallow in the New Year with the reported hike in electricity tariff again. This is coming two months after the government forced on Nigerians increase in tariff, with crazy bills being…
The Major Oil Marketers Association of Nigeria (MOMAN) says it is excited by the commencement of the African Continental Free Trade Area Agreement (AfCFTA) because it can transform Nigeria into a petroleum products refining hub. Mr Tunji Oyebanji, Chairman, MOMAN,…
The cumulative revenue lost by the power sector in 2020 was N645.15 billion, while the total quantum of electricity constrained during the period was 44,068 megawatts, investigation has shown. Constrained power is the quantum of electricity that could not be…
