Nigeria has launched an ambitious $750 million renewable electrification programme aimed at expanding electricity access through solar mini-grids and off-grid power systems, a move officials say could unlock over $1.1 billion in private investment and reshape the country’s energy landscape. The initiative, being implemented by the Rural Electrification Agency (REA), is expected to deploy 1,350…
President Bola Ahmed Tinubu has approved a targeted fiscal incentive designed to unlock the long-awaited Final Investment Decision (FID) for the Bonga Southwest Aparo (BSWA) deepwater project. The move, which is expected to attract about $20 billion in Foreign Direct Investment (FDI), positions Nigeria for a new era of deepwater production. This development was confirmed…
Nigeria has suspended the issuance of gasoline import licenses, a move that strengthens the position of billionaire Aliko Dangote, owner of Africa’s largest petroleum refinery, who has long argued that fuel imports are no longer necessary. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that nearly all the gasoline supplied in…
President Bola Tinubu on Friday constituted an 11-member committee to ensure a hitch-free incorporation of the Grid Asset Management Company Limited (GAMCO). The inauguration of the high powered committee came barely 48 hours after the Federal Executive Council (FEC), at its inaugural meeting in 2026, approved the memo presented by the president for the establishment…
The Nigerian Content Development and Monitoring Board (NCDMB) on Monday signed an international management agreement (IMA) with Radisson Hospitality Belgium, and Edison Hotel and Property Development Company, in respect of the Board’s 204 rooms hotel and conference center, developed adjacent the Nigerian Content Tower, Swali, Yenagoa, Bayelsa State. According to the Manager, Corporate Communications Division,…
In pursuit of the Petroleum Industry Act (PIA), TotalEnergies has handed over the OLO Oilfield Host Community Development Trust (HCDT) to Aradel Holdings Plc. This transition follows Aradel’s earlier acquisition of the Olo and Olo West marginal fields (formerly part of OML 58) from the TotalEnergies/NNPCL Joint Venture. The handover, which took place in Abuja…
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Ajaokuta-Gwagwalada segment of the Ajaokuta-Kaduna-Kano Gas Pipeline (AKK) is projected to be commissioned, with first gas flowing by July 2026. Speaking during a Stakeholders’ Workshop on Emerging Opportunities in Compressed Natural Gas CNG organised by Portland Gas Limited yesterday in Abuja, NNPCL’s Executive Vice…
Iran’s Supreme Leader, Ayatollah Ali Khamenei, has been killed in coordinated air strikes carried out by the United States and Israel, according to confirmations by Iranian state media. State television announced that the 87-year-old cleric was killed early Saturday morning in his office in Tehran during what it described as intense bombardment targeting key military…
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…
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…
