Minister Pledges Intervention in N42 Billion Electricity Debt Owed by Army Power Minister Adebayo Adelabu has committed to engaging with Distribution Companies (DisCos) on restructuring the N42 billion electricity debt owed by the Nigerian Army. This assurance came during a meeting with the Chief of Army Staff, Lt. General Taoreed Abiodun Lagbaja, who raised concerns…
NUPRC Clarifies Relocation: More Details on Efficiency Gains and Stakeholder Benefits The Nigerian Upstream Regulatory Commission (NUPRC) has recently been the subject of speculation regarding a potential move from Abuja to Lagos. However, the agency has clarified that this is not the case. The NUPRC, which plays a crucial role in the nation’s oil and…
Africa’s National Oil Companies to unite at NIES 2024 for the continent’s energy agenda The highly anticipated 7th Nigeria International Energy Summit (NIES 2024) is set to convene the National Oil Companies (NOCs) Forum, bringing together esteemed CEOs and key stakeholders from various African NOCs. The session promises to be a pivotal moment for shaping…
NUPRC not leaving Abuja as speculated By Ibrahim Musa With clear mandates – ensuring compliance with petroleum laws, regulations and guidelines, monitoring of operations at drilling sites, producing wells, production platforms and flowstations, crude oil export terminals, and all pipelines carrying crude oil, and natural gas, supervising operations being carried out under licenses and leases,…
Fuel Price Surge in Rivers State Leads to Doubled Transport Fares Despite the suspension of the planned strike by the National Association of Road Transport Owners (NARTO), the pump price of Premium Motor Spirit (PMS) has continued to surge in Port Harcourt and its environs, reaching between N900 and N1,000 per litre. A survey conducted…
Nigeria’s Capital Inflow Rises 66% in Q4 2023, Manufacturing Attracts Largest Share Nigeria’s economy received a welcome boost as capital importation surged 66% in the fourth quarter of 2023, reaching $1.08 billion. This marks a 2.6% increase compared to the same period in 2022 and a significant jump from $654.65 million in Q3 2023. Investment…
Ardova’s New LPG Facility Boosts Nigeria’s Energy Future, Says NMDPRA Nigeria’s energy infrastructure received a significant boost with the upcoming launch of Ardova Plc’s upgraded Liquefied Petroleum Gas (LPG) facility in Ijora, Lagos. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) commended the development and highlighted its impact on gas supply and accessibility. Increased…
MEMAN: No Conflict with Transport Unions, Focus on Fair Rates and Fuel Affordability The Major Energies Marketers Association of Nigeria (MEMAN) issued a statement today clarifying their position regarding the ongoing strike by transport unions NARTO and PTD. They emphasized: 1. No Conflict Exists: MEMAN denies any conflict with the transport unions, stating individual marketers…
Nigerian Naira and Stocks Plummet as Investor Jitters Mount The Nigerian financial markets experienced a tumultuous day on Monday, with the naira hitting record lows against the dollar and stocks suffering their biggest one-day drop in over a year. Naira Devaluation Deepens: The Nigerian currency plunged to a record low of 1,712 naira per dollar…
Women in Energy to Lead Conversations on Breaking Barriers at NIES 2024 The Nigeria International Energy Summit (NIES) is excited to announce the inclusion of the Women in Energy Roundtable as a central component of its highly anticipated 7th edition, scheduled to take place from February 26th to March 1st, 2024. The session, set for…
