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…
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…
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…
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…
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…
Esso Exploration and Production Nigeria Limited, an affiliate of ExxonMobil, broke ground Tuesday on a permanent Shore Base facility at the Lagos Deep Offshore Logistics Base, becoming the first international oil company to fully fund the construction of such infrastructure within Nigeria’s premier deepwater logistics hub. The ceremony at LADOL’s Apapa Port complex drew senior…
The Executive Secretary ofthe Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has expressed confidence that the five-star Radisson Hotel and Conference Centre, Yenagoa, Bayelsa State, would be completed and commissioned in December 2026, just as South Africa’s Edison Corporation, incorporating Radisson Hotels Group, assured of world-class services. Addressing visiting top executives…
The Federal Government said it has progressed in its plan on the proposed transcontinental gas pipeline aimed at delivering its vast natural gas to European markets. The proposed pipeline, still at an early development stage, is being advanced by a consortium of global industry players and will be subject to extensive technical, commercial, and regulatory…
The minister of power, says the federal government has taken decisive steps to address persistent gas supply challenges affecting electricity generation. Adelabu spoke in his Eid-el-Fitr message on Thursday. In a statement on Thursday by Bolaji Tunji, his special adviser on strategic communication and media relations, the minister expressed confidence that recent interventions are beginning…
The Nigerian National Petroleum Company Limited has intensified efforts to ensure a steady crude oil supply to the Dangote Petroleum Refinery as part of moves to stabilise fuel availability across the country, especially with Brent hitting $108 per barrel. This comes amid heightened global oil market volatility occasioned by tensions in the Middle East and…
