Electricity distribution companies, otherwise known as DisCos, were unable to take the full power generation in recent period, underlining a major challenge in the electricity supply chain. Minister of Power, Chief Adebayo Adelabu, yesterday said that power generation had peaked at 5,170 megawatts on Friday, August 30, 2024 but this had to be ramped down by…
Former Vice President, Atiku Abubakar has criticised the Nigerian National Petroleum Company Limited (NNPCL) for its lack of transparency following the company’s admission of a $6 billion debt to petrol suppliers.This admission made public on Sunday, September 1, has explained the fuel scarcity that has plagued the nation for six weeks. The Chief Communications Officer…
Raising the windfall tax on the UK’s oil and gas companies will hit the government’s main goal of growing the economy, the industry has warned. Offshore Energies UK (OEUK) said the planned hike would cause investment in the sector to plunge and result in a loss of £13bn to the UK economy from 2025 to…
The Nigerian National Petroleum Company Limited has stated plans to engage reputable operations and maintenance companies for the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company. The NNPC, in a notice on its website, said this was to ensure reliability and sustainability to meet the nation’s fuel supply and energy security…
So much of Nigeria’s resources have been wasted under elaborate maintenance that leaves the refineries poorer than they were and their managers richer than they should have been. Originally scheduled for completion in 2019, the refurbishment and upgrade of the Port Harcourt Refinery, located in Nigeria’s oil-rich Niger Delta region, have remained at the promised…
The Medical and Health Workers Union of Nigeria (MHWUN) has called on the federal government to pay the seven months’ salary arrears of its members. Kabiru Sani, president of MHWUN, spoke on Friday at the national executive council (NEC) meeting of the union in Abuja. Sani said the government should also address the issue of…
Afrobeats sensation, Divine Ikubor, also known as Rema, donated N105m to a Christ Embassy church in Benin, Edo State, on Sunday. The donation was made during a Sunday service, where Rema thanked the church for its support and guidance. In a now-viral video, he said, “I’m not here to give myself any accolades or glory. I’m…
The Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). This decision, approved by CBN Governor Olayemi Cardoso on Friday, represents the latest in a series of staff reductions at the apex bank since his appointment last year. The executive…
The oil sector has voiced strong objections to the suggested changes in the policy governing the import and export of oil refined products under foreign suppliers’ accounts via custom bonded storage facilities. In a recent letter to the secretary of the Petroleum Division, the Oil Companies Advisory Council (OCAC) highlighted their concerns regarding the proposed…
The cost of a single-phase electricity meter has risen to over N130,000 from N88,000 in the first quarter of this year. This is the second time the Nigerian Electricity Regulatory Commission would approve an increase in the prices of prepaid meters. The price of a singles phase meter ranged from N130,000 to N139,000, while a…
