NUPRC signs 3D seismic deal to de-risk Nigeria’s oil investments
The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence No. 5 agreement…
FG to power 50 tertiary institutions with off-grid solar
The federal government has unveiled plans to improve energy access in the education sector, with Wale Edun, the minister of finance and coordinating minister of Nigeria’s economy, disclosing an initiative to power 50 tertiary institutions using off-grid solar solutions. Edun disclosed while speaking with journalists during the formalisation of the country engagement framework partnership agreement…
Afreximbank leads $4bn Dangote Refinery loan with $2.5bn commitment
The African Export-Import Bank (Afreximbank) said Tuesday it has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE. Afreximbank and Access Bank were appointed co-mandated lead arrangers for the five-year facility to consolidate existing financing, optimise its capital structure, and align with the refinery’s operational status…
FG to expand Digital Connectivity with installation of new telecom towers in Rural Areas.
The Nigerian Government is set to accelerate telecom infrastructure development in rural areas, targeting the installation of 1,000 new telecommunications towers in 2026 as part of a broader strategy to expand digital connectivity and bridge longstanding access gaps. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, disclosed this on Tuesday in Abuja during a…
FG unveils N12bn fund for research growth to support digital transformation Agenda
The Federal Government has unveiled a N12bn Digital Economy Research Fund aimed at strengthening evidence-based policymaking and supporting Nigeria’s long-term digital transformation agenda. The Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, disclosed this in a statement issued on Saturday, announcing the launch of an expression of interest for the National Digital Economy Research…
NDDC begins emergency upgrade of headquarters electricity supply
The Niger Delta Development Commission has commenced an emergency upgrade of the electricity supply to its headquarters complex by formally handing over the project to Income Electrix, an integrated power company. Speaking during the handover ceremony at the NDDC headquarters, the Director of Community and Rural Development, Engr. Theophilus Alagoa, said the project was an…
FG, GenCos disagree over electricity debt reconciliation
The Federal Government and power generation companies have disagreed over the reconciliation of debts in Nigeria’s electricity market, with both sides offering differing accounts of the actual liabilities owed to the GenCos. The Minister of Power, Adebayo Adelabu, said the actual debt owed to generation companies may be significantly lower than widely reported, as ongoing…
NUPRC signs 3D seismic deal to de-risk Nigeria’s oil investments
The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence No. 5 agreement with SeaSeisGeophysical Limited, authorising the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data. The three-year deal, signed at the Commission’s headquarters in Abuja on Tuesday, is expected…
NERC inaugurates electricity regulators’ forum amid supply crisis.
The Nigerian Electricity Regulatory Commission (NERC) has inaugurated a new forum aimed at enhancing coordination and effectiveness in electricity regulation across Nigeria. The forum was inaugurated during the first quarter 2026 Regulatory Meeting with State Electricity Regulators (SERs) in Lagos. This was disclosed in a statement shared on X by NERC on its official handle…
CBN grants IOCs full access to forex earnings
The Central Bank of Nigeria has approved the full repatriation of export proceeds by international oil companies, allowing them unrestricted access to 100 per cent of their foreign exchange earnings through authorised dealer banks. This is a significant departure from the phased framework that has governed their forex access since 2024. The directive, contained in…
Ojulari backs Executive Order 9, says it will transform the Energy sector.
The Nigerian National Petroleum Company (NNPC) Limited has thrown its weight behind Executive Order 9, arguing that it will improve financial transparency in the energy sector. NNPC Limited’s Group Chief Executive Officer (GCEO), Bayo Ojulari, said this on the sidelines of the CERAWeek by S&P Global in Houston, United States. “Regarding Executive Order 9, the…
