unremitted pension deductions heighten tension in electricity sector
More than a decade after Nigeria privatised its power sector, tension is rising across the…
NCDMB Holds Lagos Midstream Workshop, Charges Operators on Compliance, New Policies
The Nigerian Content Development and Monitoring Board (NCDMB) has enjoined operators in the midstream segment of the oil and gas industry to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, or risk attracting sanctions, including project withdrawal, suspension and criminal prosecution. The Board also reaffirmed that obtaining the Nigerian Content…
Seplat posts 144% revenue growth to $2.73bn
The revenue of Seplat Energy Plc for the 2025 financial year surged 144.2 per cent to $2.73bn (N4.14tn) compared to $1.12bn (N1.65tn) in 2024, reflecting what the company called a full year of contribution from its offshore assets. This was disclosed in its audited results for the year ended 31 December 2025, filed with the…
Labour gives Friday deadline to FG over 3-month unpaid wage award,
Organised labour in the federal public service has issued a Friday ultimatum to the federal government to release funds to settle three months’ outstanding wage award and other pending allowances owed workers in ministries, departments and agencies, MDAs. The leadership of the Joint National Public Service Negotiating Council, JNPSNC, (Trade Union Side), labour warned that…
NUPRC sets deadline for 2025 licensing round applications
NUPRC sets Friday deadline for 2025 licensing round applicationsOritsemeyiwa Eyesan, CEO, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a final call to prospective investors, announcing that the window for pre-qualification applications for the Nigeria 2025 Licensing Round will officially close on Friday The Commission, in a public…
US court sentences ex-NNPC official to 87 months over $2.1m oil bribery scandal
A United States court has sentenced a former senior official of the Nigerian National Petroleum Corporation (NNPC), Paulinus Okoronkwo, to 87 months (seven years and three months ) in federal prison for receiving a $2.1 million bribe linked to oil drilling rights in Nigeria. Mr Okoronkwo, 58, was sentenced by the US District Judge John…
unremitted pension deductions heighten tension in electricity sector
More than a decade after Nigeria privatised its power sector, tension is rising across the industry — not over tariffs or megawatts, but over pension contributions that workers say have been deducted from their salaries and left unremitted for as long as 82 months. At the centre of the brewing crisis are allegations that some…
FG in talks with Chinese firm over $5.7bn power, mining investment
The federal government is in talks with GCL Group, a Chinese green and low-carbon technology company, over a proposed $5.7 billion investment spanning power, mining, and industrial manufacturing. Wale Edun, minister of finance and coordinating minister of the economy, received a high-level delegation from the firm in Abuja on Monday. According to a social media…
Ex-Nigerian minister confronted tycoons who bribed her
A court has heard recordings of a former Nigerian oil minister allegedly confronting two oil tycoons from whom she is accused of accepting bribes, after their relationships had broken down. Prosecutors allege that Diezani Alison-Madueke was provided with “a life of luxury” in the UK, which they say was paid for by those who sought…
Dangote signs deal to distribute 65m litres petrol
The Dangote Petroleum Refinery has concluded an offtake agreement with 12 major petroleum marketing companies to distribute between 60 million and 65 million litres of Premium Motor Spirit (petrol) daily across the country, in a move expected to stabilise supply and deepen Nigeria’s fuel self-sufficiency. President of the Dangote Group, Aliko Dangote, disclosed this in…
Ojulari extols Dangote refinery as world-class
Group Chief Executive Officer of NNPC Limited, Bayo Ojulari, has described the Dangote Refinery as a world-class facility equipped with modern technology and capable of making significant impact on Nigeria’s economy and the global energy market. Ojulari made the remarks while addressing journalists after inspecting several sections of the refinery, including the master control room,…
