Nigeria Tops Sub-Saharan Africa Upstream Investment Despite Regional Decline – Verheijen Nigeria retained its position as Sub-Saharan Africa’s leading destination for upstream capital investment in 2025, attracting $5.3 billion despite an 18 per cent decline in upstream spending across the region. The Special Adviser to the President on Energy, Olu Verheijen, disclosed this on Thursday…
Tinubu Approves Nigeria’s Carbon Market Framework, Targets $3bn Annual Revenue by 2030 President Bola Ahmed Tinubu has approved the implementation and operationalisation of Nigeria’s carbon market framework, a landmark policy projected to generate at least $3 billion in annual revenue by 2030. The approval positions Nigeria as a major player in global carbon trading, opening…
African Heads of State Confirm Attendance at NIES 2026 The Nigeria International Energy Summit (NIES) has announced the confirmation of distinguished African Heads of State for its 2026 edition, reinforcing the Summit’s status as Africa’s most authoritative and impactful platform for energy dialogue, policy coordination, and investment mobilization. Among the confirmed leaders are His Excellency…
Fossil Fuel Phaseout Urgent as 1.5°C Warming Threshold Nears, Report Warns A new report by the Copernicus Climate Change Service has warned that the world is rapidly approaching a dangerous climate tipping point, with the 1.5°C global warming threshold likely to be breached by the end of 2030. According to the Global Climate Highlights (GCH)…
TotalEnergies Signs Deal to Divest 10% Stake in Nigeria’s Renaissance JV TotalEnergies has signed a Sale and Purchase Agreement (SPA) to divest its 10 per cent non-operated interest in Nigeria’s Renaissance Joint Venture (JV), formerly known as the Shell Petroleum Development Company (SPDC) JV. In a statement issued on Wednesday, the French energy major said…
Eyesan Rolls Out Ambitious Reform Agenda for Nigeria’s Upstream Oil Sector The Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has unveiled a comprehensive reform agenda aimed at improving efficiency, deepening collaboration, and unlocking higher production across Nigeria’s upstream oil and gas sector. Eyesan said the new direction for…
Nigeria Records Historic ₦6 Trillion FAAC Disbursement in Q3 2025 as NEITI Warns of Fiscal Risks Nigeria has recorded its highest-ever Federation Account Allocation Committee (FAAC) disbursement, with total allocations hitting ₦6.0 trillion in the third quarter of 2025, according to a new report released by the Nigerian Extractive Industries Transparency Initiative (NEITI). The figure,…
Wola Joseph-Condotti Appointed Eko Disco CEO as Rekhia Momoh Resigns Eko Electricity Distribution Company has announced the appointment of Wola Joseph-Condotti as its new Chief Executive Officer, following the resignation of Rekhia Momoh after nearly two years at the helm of the company. Before her appointment, Joseph-Condotti served as Group Managing Director and Chief Executive…
Russia Asserts Ownership of Oil Assets Under Development in Venezuela Russia has declared full ownership of all oil assets currently being developed in Venezuela by a Russian state-owned company, countering recent claims by U.S. President Donald Trump that American and Western oil firms would play a major role in reviving Venezuela’s oil industry. The claim…
Oil and Gas Set to Drive 500 Percent Surge in Data Center Power Demand Hydrocarbons are expected to supply nearly three-quarters of the massive increase in electricity demand projected from data centers, as artificial intelligence adoption and global economic growth continue to accelerate energy consumption worldwide. According to Sultan Al Jaber, Chief Executive of the…
