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By Firdaus Jibril The Nigerian National Petroleum Company (NNPC) Limited has commenced discussions with global financial institution JPMorgan Chase & Co. on potential financing opportunities for upstream, gas, and infrastructure projects. NNPC disclosed this in a post on its official X handle on Wednesday, stating that its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, ...
Dangote Petroleum Refinery and Petrochemicals FZE has officially announced the successful completion of a landmark private equity placement, raising approximately US$2.5 billion in new equity. The transaction saw intense demand from global and regional financial markets, achieving a 3.7 times subscription relative to the initial offer size. The deal stands as Africa's largest publicly disclosed ...
The Nigerian Content Development and Monitoring Board (NCDMB) will on Monday, July 27, 2026, officially launch the Nigerian Content Trainers' Registration Certificate (NCTRC), marking a significant milestone in the Board's efforts to strengthen quality assurance and standardisation in human capacity development across Nigeria's oil and gas industry. The platform will be live on the Nigerian Oil and Gas Industry Content Joint ...
In a renewed effort to safeguard critical power assets and bolster energy security, the Federal Government has announced plans to establish a specialized joint taskforce dedicated to protecting power infrastructure across the country. The decision followed a meeting on Tuesday between the Minister of Power, Engr. Joseph Tegbe, and the Inspector-General of Police, IGP Tunji ...
By Babs Omotowa Bloomberg recently reported that the Federal Government has agreed to an $11.5-per-barrel tax incentive to enable Shell's $20 billion Bonga South West project to finally proceed. Some commentators have described the tax incentive as "unusually generous" — reportedly double the standard fiscal terms for deepwater projects in Nigeria. They argue that a ...
...as Frontier Basins record historic investor interest Following a keenly contested bidding process, 31 companies have emerged as winners of 37 oil and gas blocks in the 2025 Licensing Round. A total of 143 companies submitted 200 bids for 37 out of the 50 oil and gas blocks originally put on offer. The assets spanned ...
...confirms settlement of 22% of debts owed to GenCos By Precious Mark The Federal Government has launched the issuance of a N729 billion Series II bond under the Presidential Power Sector Financial Reforms Programme (PPSFRP) to resolve legacy debts and restore liquidity to the power sector. Speaking on Tuesday in Abuja at the PPSFRP Series ...
The Rural Electrification Agency (REA) has officially performed the groundbreaking for a 1.5MW Interconnected Mini-Grid project in Pankshin, Plateau State. This groundbreaking ceremony follows the recent commissioned 50kW Access to Markets and Agriculture (AMP) Solar Mini-Grid in Namu Community in the state and series of groundbreaking event held recently in Kogi (20MW), Kebbi (3.5MW), Adamawa ...
…as President names 24 others to head various federal agencies, commissions By Precious Mark President Bola Ahmed Tinubu has appointed former Ekiti State Governor, Ayo Fayose, as the new Chairman of the Rural Electrification Agency (REA), and named Major General Junaid Bindawa to head the National Salaries, Incomes and Wages Commission. The appointments are part ...
The Electricity Consumers Protection Advocacy Centre (ECPAC) has called on the Federal Government to include consumer representatives in the committee inaugurated to decentralise the electricity market. It will be recalled that the Minister of Power, Mr Joseph Tegbe, recently inaugurated a nine-member inter-agency committee to address issues surrounding the decentralisation of the electricity market. The ...
The Emir of Kano, Muhammadu Sanusi II, on Friday said Nigeria’s inability to provide reliable, affordable and sustainable energy remained the country’s greatest obstacle to industrialisation, economic growth and national development. Sanusi stated this while delivering the keynote address at the birthday symposium of former Minister of Power and Chairman of Geometric Power Group, Prof. ...
The International Renewable Energy Agency (IRENA) has reported that Africa’s installed renewable energy capacity reached 82,397 megawatts (MW) in 2025, up from 71,111 MW a year earlier. The data was captured in the agency's Renewable Energy Statistics 2026 report.This increase represents an annual growth rate of nearly 16 percent, although Africa continues to make only a limited ...
The Senate Committee on Power has agreed to defer the ongoing legislative process of amending the Electricity Act 2023. The decision aims to give room for wider consultation and consensus-building among key actors across the electricity value chain, following a high-level stakeholder engagement convened by the Minister of Power, Joseph Tegbe, on Tuesday. The suspension ...
...as REA inks seven MoUs to bridge energy access gap Stakeholders have emphasized the importance of improved electricity access in driving productivity and achieving economic prosperity. This call was made at the National Stakeholders Engagement Workshop hosted by the Rural Electrification Agency (REA) in Abuja today. During the event hosted by the REA in collaboration ...
By Precious Mark The Minister of Power, Chief Joseph Olasunkanmi Tegbe, has declared that the success of Nigeria's power sector must no longer be measured by the volume of megawatts generated or cables laid, but strictly by how effectively electricity is used to drive economic productivity, rural enterprise, and agricultural preservation. This information was made ...
Shell Companies in Nigeria have disclosed that it awarded contracts worth $518 million to indigenous companies. This is as the company also disclosed that 123 indigenous companies were engaged across the value chain of Shell businesses in Nigeria in the same period. Commenting, the Vice President Commercial Rohan D'Souza said, “The payments show a strong support for Nigerian service providers in our operations." “We see the development of Nigeria companies ...
The Transmission Company of Nigeria (TCN), Kano Region has taken delivery of two new 100MVA power transformers for installation at the ongoing 330/132/33kV Transmission Substation in Katsina. The delivery of the transformers is in line with TCN’s strategic grid expansion project, which is designed to substantially strengthen the national grid network and improve bulk electricity ...
By Precious Mark The Minister of Power, Joseph Olasunkanmi Tegbe, has revealed that about 30% of the crippling challenges confronting Nigeria’s electricity sector are rooted in systemic vandalism. The Minister made the disclosure on Monday in Abuja during a familiarisation visit to the headquarters of the Independent Corrupt Practices and Other Related Offences Commission (ICPC). ...
Nigeria’s crude oil and condensate production climbed to an average of 1,735,398 barrels per day (bpd) in June 2026, marking a fourth consecutive month of positive growth. Latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that pure crude oil production reached 1.56 million barrels per day (mbpd), while condensate production accounted for ...
The Niger Delta Power Holding Company (NDPHC) has officially commenced the restoration of the 225MW Gbarain National Integrated Power Project (NIPP) in Bayelsa State, formally handing over the power plant to the Original Equipment Manufacturer (OEM), Schneider Electric/TILT Energy, for the commencement of rehabilitation works. This development marks another major milestone in NDPHC’s strategic drive ...
The Federal Government has commenced the development of four solar hybrid mini-grid projects in Rivers State that will provide reliable electricity to more than 13,492 households, businesses and public institutions, further accelerating Nigeria's drive towards universal energy access and sustainable economic growth. The projects, with a combined capacity of 11.9MWp, are being implemented by the ...
As Nigeria races to hit 12 billion cubic feet (bcf) of gas per day by 2030, the Coordinating Director of the Decade of Gas Initiative, Chief Ed Ubong has said Nigeria must prioritize affordability for households and move cooking gas toward a fully commercial, unregulated market. Speaking as a panelist at the ongoing 2026 Nigeria ...
The Chief Executive Officer of Seplat Energy Plc, Mr. Rogers Brown has called for the harmonization of Nigeria’s gas sector legislation and a clearer definition of the government’s role, as growing investor interest highlights the need for a coordinated and transparent regulatory framework. Brown made this known on Tuesday while speaking at the ongoing NOG Energy Week ...
