Adelabu: Electricity Subsidy Driving Power Sector into ₦4 Trillion Debt Nigeria’s Minister of Power, Chief Adebayo Adelabu, has sounded the alarm over the mounting financial crisis in the nation’s power sector, revealing that the Federal Government is indebted to electricity generation companies (GenCos) to the tune of ₦4 trillion. This figure includes a staggering ₦1.94…
NUPRC Reaffirms Commitment to Indigenous Capacity Development, Sustainability at NOGOF 2025 By Ikojie Emmanuel The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its commitment to driving investment, boosting production, and promoting indigenous capacity development as core pillars of Nigeria’s oil and gas future. Delivering a keynote address on behalf of the Commission Chief Executive,…
NCDMB Executive Secretary Highlights Indigenous Capacity as Key to Oil & Gas Growth By Ikojie Emmanuel The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has emphasized the strategic importance of indigenous capacity development in shaping a sustainable future for Nigeria’s oil and gas industry. He made this…
Seplat Energy Exceeds 2024 Targets, Celebrates Game-Changing Acquisition Seplat Energy Plc has announced that its 2024 performance surpassed board expectations, largely due to the transformational acquisition of Mobil Producing Nigeria Unlimited (MPNU), now Seplat Energy Producing Nigeria Unlimited (SEPNU). During the company’s 12th Annual General Meeting, Chairman Senator Udoma Udo Udoma applauded the achievement. “Our…
2,000 Students to Receive Recycled Tyre School Sandals Thanks to NNPC/FIRST E&P Grant In a transformative CSR initiative, FREEE Impact Foundation has secured a ₦25 million grant from the NNPC Limited/FIRST E&P Development Company Joint Venture to provide eco-friendly sandals to 2,000 public school pupils in Southwest Nigeria. The grant, awarded during the 2025 “Impact…
AMCON and AMPs Step Up Recovery Efforts to Reclaim N4.6 Trillion Debt In a bold move to accelerate the recovery of over N4.6 trillion in outstanding debts, the Asset Management Corporation of Nigeria (AMCON) has intensified its collaboration with Asset Management Partners (AMPs) across the country. This renewed strategy was unveiled at an interactive session…
Oil Prices Slip as Traders Brace for U.S. Inventory Surge, Await OPEC Report Global Oil Markets — The international oil market witnessed a notable dip on Wednesday as Brent crude futures fell by 64 cents, reaching $65.99 per barrel, while U.S. West Texas Intermediate (WTI) similarly dropped to $63.03 per barrel. This market fluctuation comes…
“Buy Africa, It’s Not Inferior”: Visionary Leaders Call for Economic Unity at Africa CEO Forum Abidjan, Côte d’Ivoire — In one of the most electrifying sessions of the Africa CEO Forum, held in Abidjan, business and policy leaders from across the continent gathered to discuss the future of intra-African trade and economic integration under the…
Access Bank Secures $100 Million Facility to Empower Nigerian MSMEs and Women Entrepreneurs Lagos, Nigeria — In a significant move toward financial inclusion and gender-focused economic empowerment, Access Bank Plc has secured a landmark $100 million senior loan facility from a coalition of Development Finance Institutions (DFIs), led by the German investment arm DEG –…
Aret Adams Memorial Lecture Series: Honoring the Legacy of an Unsung Oil Industry Hero Lagos, Nigeria — The legacy of Chief Godwin Aretanekha Adams, a foundational figure in Nigeria’s oil and gas sector and former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), was once again brought into national consciousness as industry leaders,…