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Seplat Energy PLC has rewarded its shareholders with a massive increase in returns, declaring a total dividend of US 9.0 cents per share for the first quarter of 2026. This payout represents a 96% surge compared to the same period in 2025, reflecting the company’s robust cash generation and strengthened balance sheet. The dividend package ...
By Funnmilola Gboteku Mrs. Darshana Deka, Conference Producer, IoT West Africa, says that Nigeria must move beyond its current reliance on solar energy and explore broader renewable options to effectively power its growing digital economy. Deka said this in an interview with the Newsmen on Thursday in Lagos. She said the country’s power sector held ...
By Yunus Yusuf Egbin Power Plc has shut down operations following a fatal industrial accident involving a contractor during an underwater maintenance exercise. The incident, which occurred on Tuesday, led to the shutdown of the plant, a major contributor to electricity supply on the national grid. Confirming the development to the Newsmen on Thursday, the ...
The Nigerian Independent System Operator (NISO) and the West African Power Pool (WAPP) have emphasized on the importance of adhering to quality technical standards in the Phase II regional grid synchronization scheduled for June 2026 Receiving a delegation from WAPP in Osogbo, the engagement serves as a critical precursor to the Phase II regional grid synchronization ...
By Osordi Ayomide The Dangote Refinery has increased the ex-depot price of Premium Motor Spirit (PMS), raising concerns about renewed inflationary pressure across the Nigerian economy. The refinery raised its gantry price by N75, from N1,200 to N1,275 per litre, marking an increase of approximately five percent. This adjustment reflects mounting cost pressures linked to ...
The newly inaugurated Chairman of the board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Senator Magnus Abe has pledged to improve the capacity of the NUPRC in meeting its statutory mandate. Speaking on Tuesday upon his formal assumption of duties, Abe noted that the board will provide better leadership and oversight for the commission. ...
By Austine Agbo Emmanuel The Nigerian Trade Union Congress (TUC) has urged the federal government to cut taxes by 50% for workers. The demands formed part of th3 resolutions from the TUC National Executive Council (NEC) meeting held in Abuja on Monday. The key resolutions as read by Festus Osifo, President of TUC, warned that ...
By Osordi Ayomide Nigeria’s journey toward total energy self-sufficiency has entered a decisive phase as the Dangote Refinery, already the largest single-train facility on the planet, positions itself for a potential capacity scale-up. Widely regarded as the cornerstone of the nation’s industrial transformation, the refinery is not just refining oil; it is refining the very ...
By Osordi Ayomide In a significant move for West African energy cooperation, Sierra Leone has signed a $225 million offshore oil exploration agreement with Nigerian indigenous firm, Marginal Energy Limited. The deal, signed on the sidelines of the Invest in African Energy Conference in Paris, grants the Nigerian firm exploration and potential production rights over ...
By Fredrick Ameh Energy icon Dr. Diran Fawibe has called for the urgent establishment of a Nigerian Academy of Energy Economics, an independent body designed to provide the rigorous, non-partisan analysis necessary to stabilize Nigeria’s most critical economic sector. Speaking on Tuesday after receiving a Distinguished Fellowship Award from the Nigerian Association for Energy Economics ...
President of Dangote Group, Aliko Dangote, has announced that the expansion of the Dangote Refinery to a production capacity of 1.4 million barrels per day will generate employment for no fewer than 95,000 skilled workers at peak construction. Dangote disclosed this at the weekend in Lagos during his induction as an Honorary Fellow of the ...
Lagos State Governor, Babajide Sanwo-Olu has presided over the signing of three landmark Power Purchase Agreements (PPAs) aimed at overhauling the state’s energy infrastructure and ensuring more reliable electricity for public facilities. The new agreements, signed on Sunday introduce a strict accountability framework where the state government will only pay for energy actually delivered and ...
…announces further expansion to 100mcf, 30,000bpd Waltersmith Petroman has announced the completion of the firm’s refining capacity, from 5,000 barrels per day (bpd) to 10,000 bpd. This was disclosed during a facility tour of the refinery by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Content Development and Monitoring Board (NCDMB) ...
Stakeholders at the SHEnovation Hackathon 2026 webinar on Saturday have urged innovators to prioritise solution-driven ideas and investment readiness to scale sustainability-focused business ventures. They emphasised that strong business models, data-backed impact and clear value propositions are critical to attracting funding and ensuring long-term viability. The webinar organised by the Lagos Chapter of the Association ...
The Federal government through the Energy Commission of Nigeria (ECN) has on Friday inaugurated the groundbreaking ceremony of 2-megawatts solar hybrid project worth N3.8 billion at the Aliko Dangote University of Science and Technology (ADUSTECH) Wudil in Kano State. The report states that the project under the flagship of Renewed Hope Solarization project of President ...
By Ejire Folakunmi The Ondo State Government has formally asserted its regulatory sovereignty over the state's electricity market, declaring that the federal regulator, the Nigerian Electricity Regulatory Commission (NERC), lacks the authority to interfere with power assets situated within the state's jurisdiction. The Ondo State Electricity Regulatory Bureau (OSERB) has officially notified NERC of its ...
By Ejire Folakunmi Nigeria’s power grid just got a lift as the Transmission Company of Nigeria commissioned new high-capacity transmission links, unlocking stronger electricity flow from the Ihovbor axis. The company confirmed that it successfully energised the turn-in-turn-out connections for the Ihovbor/Benin and Ihovbor/Ajaokuta 330kV transmission lines at 19:05 on April 23, 2026, marking a ...
By Fredrick Ameh The Nigerian National Petroleum Company (NNPC) Limited has issued an urgent public disclaimer, warning Nigerians against a fraudulent scheme involving the purported sale of scrap materials and equipment from its refineries. In a statement released on Friday, April 24, 2026, the NNPC’s Chief Corporate Communications Officer, Andy Odeh, clarified that the company ...
Improved production efficiency and optimized energy management have been identified as leading factors that drove BUA Cement PLC ₦354.98 billion gain for the first quarter ended March 31, 2026. This revenue growth represents a 22% increase compared to the ₦290.82 billion recorded in the same period of 2025. The company’s profitability saw even more dramatic ...
By Osordi Ayomide Borno State Governor, Babagana Zulum, has commended President Bola Ahmed Tinubu for approving ₦68 billion in operational support for the Maiduguri Emergency Power Plant (MEPP), describing the intervention as timely and critical to sustaining economic recovery in the state. The approval provides for a monthly disbursement of ₦2 billion from March 2026 ...
…targets 3.7GW as regional energy hub Nigeria is making significant strides in localizing its renewable energy value chain, with installed solar panel manufacturing capacity increasing from 120 megawatts (MW) two years ago to approximately 300MW today, and an additional 3.7 gigawatts (GW) in the pipeline. This positions the country to emerge as a leading renewable ...
By Osordi Ayomide The resignation of Nigeria’s Minister of Power has once again brought the country’s troubled electricity sector into sharp national focus, with industry stakeholders and citizens alike asking a familiar question, what next? Adelabu, who is set to leave office on April 30, formally tendered his resignation to the President after presenting a ...
A technical team from Eko Electricity Distribution Company (EKEDC) has called for increased government support for indigenous manufacturers following a facility tour of Coleman Technical Industries Limited in Sagamu, Ogun State. The 5-man delegation was received by the Managing Director of Coleman, George Onafowokan, alongside the company’s Executive Director, Michael Onafowokan, who led the team ...
