Cooking gas price rises 13% to N1,500 per kg
The price of Liquefied Petroleum Gas, LPG, also known as cooking gas has increased by…
The Rural Electrification Agency to support mini-grid projects in Taraba, Kogi, and Kwara states
This was contained in a statement made available to our correspondent by the agency on Sunday. According to the statement, the agency announced that N7.95bn was released to Havenhill to finance critical equipment for four mini-grid power projects across the three states. It also disclosed that N1.056bn was disbursed to Faraday & Otstred Limited for…
OPEC to Boost Output Once Hormuz Reopens
OPEC on Sunday agreed to boost oil production by another 206,000 barrels daily, which will be theoretical only as production in the Middle East remains constrained by the Strait of Hormuz crisis. The move was expected, with reports saying the eight OPEC members that are managing their production stand ready to start adding barrels quickly…
Tinubu approves N3.3 trillion settlement plan for power sector reforms.
President Bola Tinubu has approved a N3.3 trillion payment plan to settle longstanding debts in Nigeria’s power sector under the Presidential Power Sector Financial Reforms Programme. The approval was disclosed in a statement signed by the President’s spokesperson, Bayo Onanuga, on Sunday. The move follows a final review of legacy debts that have plagued the…
TCN, P’Harcourt DisCo clash over power transmission capacity
The Transmission Company of Nigeria on Friday knocked the Port Harcourt Electricity Distribution Company over claims on the nation’s transmission capacity, describing figures cited by the DisCo as inaccurate and outdated. PHEDC, in a fact file shared on Thursday, explained that Nigeria’s electricity value chain comprises gas suppliers, generation, transmission, distribution, and end users. It…
Cooking gas price rises 13% to N1,500 per kg
The price of Liquefied Petroleum Gas, LPG, also known as cooking gas has increased by 14.3 percent on a month-on-month, MoM, basis, to N1,500 per kilogram, from N1,300 recorded last month. However, the ex-depot price of the product increased by 16.7 percent on a MoM basis to N21 million per 20 metric tonnes (MT), up…
Hit 2m bpd oil production, Wale Edun tells NUPRC
Wale Edun, minister of finance and coordinating minister of the economy, has called on the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to push the petroleum industry harder to hit 2 million barrels per day (bpd). Edun spoke on Thursday when Oritsemeyiwa Eyesan, chief executive officer (CEO) of NUPRC, visited the headquarters of the ministry of…
Nigeria’s total Oil Reserve stands at 37.01 barrels as at January, 2026- NUPRC
In keeping with its mandate, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission. The commission’s spokes…
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…
