Savannah Announces Relationship Agreement with NIPCO …Share Buyback Termination Agreement Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, has announced the intended entry into a relationship agreement (the “Relationship Agreement”) with its largest shareholder, NIPCO Plc (“NIPCO”), a diversified Nigerian energy conglomerate, in connection with…
NNPC Signals Major Asset Divestment Drive, Invites Investors to Bid for Select Oil and Gas Interests The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced plans to divest interests in selected oil and gas assets as part of its ongoing strategy to attract investment, optimise its portfolio, and strengthen operational efficiency. The move was…
MA’AM Energy Assumes Majority Control of Geregu Power as Ownership Restructuring Ends Otedola’s Indirect Stake MA’AM Energy Limited has emerged as the new controlling shareholder of Geregu Power Plc, Nigeria’s largest listed power generation company by market capitalisation, following a major restructuring of the ownership of its majority shareholder. The development effectively ends the indirect…
NNPC Restores Escravos–Lagos Gas Pipeline to Full Operations After December Explosion, Boosting Gas Supply and Energy Security The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the full restoration of operations on the Escravos–Lagos Pipeline System (ELPS), bringing relief to power producers, industrial users, and gas-dependent sectors following a disruptive explosion that interrupted gas…
NCDMB Launches Nigerian Content Research, Innovation and Technology Challenge 2025/2026, Promises Awards for Top Innovators The Nigerian Content Development and Monitoring Board (NCDMB) has officially commenced the Nigerian Content Research, Innovation and Technology Challenge 2025/2026, calling on innovators across Nigeria to submit research-driven solutions capable of addressing critical challenges in the oil and gas industry…
Tinubu Approves $1.42bn Debt Write-Off as Federal Government Clears Legacy Obligations Owed by NNPC Ltd to Federation Account In a major fiscal and sectoral decision, President Bola Tinubu has approved the cancellation of $1.42 billion in legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, bringing long-standing reconciliation…
Nigeria’s Power Grid Shows Signs of Stability in 2025 as NISO Records Fewer Disturbances, Marks Strong First Year After Unbundling Nigeria’s long-troubled national electricity grid recorded a notable improvement in operational stability in 2025, with fewer system disturbances and faster restoration of supply, according to the Nigerian Independent System Operator (NISO). The improvement, which comes…
Eyesan Assumes Office, Pledges Investment-Driven Reform in Nigeria’s Upstream Oil Sector New NUPRC chief vows to boost investor confidence, drive production growth, and position the Commission as Africa’s gold-standard regulator Abuja — Mrs Oritsemeyiwa Eyesan has formally assumed office as the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, pledging to advance investment-led…
Federal Government, NNPC Signal Fresh Push to Rebuild Trust and Restart Energy Development in Ogoniland Renewed engagement anchored on dialogue, environmental protection, and community inclusion as plans advance for re-entry into OML 11 The Federal Government and the Nigerian National Petroleum Company Limited have signalled a renewed commitment to rebuilding trust and restarting responsible energy…
Heirs Energies Secures $750 Million Afreximbank Financing to Drive Long-Term Growth Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a USD 750 million financing facility from the African Export–Import Bank (Afreximbank) in a landmark transaction aimed at accelerating long-term growth. The financing was executed at a signing ceremony in Abuja on Saturday,…