…As IBDEC, Ikeja Electric announce reduction in tariff The Nigerian Electricity Regulatory Commission (NERC) has approved a downward review of electricity tariff for Band ‘A’ customers from N225/kWh to N206.80 Under the approved review, Band ‘A’ customers who were previously…
Shell exclusively paid a total of $1.09 billion in corporate taxes and royalties to the Government of Nigeria last year through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the Shell Petroleum Development Company of Nigeria Limited (SPDC) assets being considered for divestments have an estimated reserve of 4.96 billion barrels of oil. The Commission Chief Executive of NUPRC, Mr Gbenga…
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has developed a divestment framework to guide the assessment of applications for ministerial consent to the Shell Petroleum Development Company of Nigeria Ltd. (SPDC) divestment. The NUPRC said the framework with seven cardinal pillars…
The Abuja Electricity Distribution Company (AEDC), has attributed the power outage currently being experienced in parts of Abuja to technical fault on some of its feeders The company’s management in a statement on Monday in Abuja listed the feeders affected…
…As Tinubu issues directives to ensure reform Special Adviser to President Tinubu, Mrs Olu Verheijen, says Nigeria attracted only four percent of all energy investment in Africa in the past decade. This was disclosed in an interview where she highlighted…
The Socio-Economic Rights and Accountability Project (SERAP) has initiated a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited, citing the company’s inability to account for and clarify the location of the purported missing $2.04 billion and N164 billion in…
The Federal Government through the Presidential Compressed Natural Gas Initiative (P-CNGi) has attracted a 50 million dollar deal for the conversion of commercial vehicles to run on Compressed Natural Gas (CNG). The P-CNGi Programme Director/Chief Executive, Mr Michael Oluwagbemi, said…
The share price of FBN Holdings Plc, parent company of the First Bank of Nigeria Ltd, which opened on the floor of the Nigerian Exchange Ltd.(NGX) on Friday at N18.50, gained N1.85 to close at N20.35, following investors’ renewed interest.…
Axxela Limited, a leading gas and power portfolio company in Sub-Saharan Africa, announces that it has taken Final Investment Decision for the development of a gas processing plant situated in OML 56, Delta State, South-South Nigeria. This strategic investment marks…
