NNPC, Agip Advance 500m-Barrel Deepwater Development Plans The Nigerian National Petroleum Company Limited, NNPC Ltd. and the Nigerian Agip Exploration Limited, NAE, are advancing discussions on the development of deepwater assets estimated to hold 500 million barrels of oil reserves. The development followed a meeting between NNPC Ltd. Group Chief Executive Officer, Engr. Bashir Bayo…
Nigeria’s Clean Energy Investment Moment Takes Centre Stage as REEEA-A Conference Convenes High-Level Stakeholders in Lagos …Government, investors, regulators, development partners and energy industry leaders to converge on strategies for accelerating clean energy investment and equitable access Nigeria’s rapidly evolving clean energy landscape will come under the spotlight this week as government leaders, investors,…
Power, Pen and Ph.D: Ikeja Electric, Others Hail Platforms Africa Adeola Yusuf’s Highest Academic Milestone at LASU …’A Win For Town And Gown,’ Details in the congratulatory letter the utility firm addressed to the Team Lead of Platforms Africa on feat …”Studious and humble.” What Dean Faculty of Communications and Media Studies, LASU, Professor…
FG Commissions Upgraded Ijora, Apapa Substations, Adds 208MW to Grid in Lagos In line with the resolve of President Bola Ahmed Tinubu to solve structural problems that have long constrained the power sector, the Federal Government on Monday commissioned two upgraded transmission substations in Lagos, providing an additional 208 megawatts of bulk transmission capacity…
AEW 2026 to Explore Africa’s Shift from Local Content Participation to Industrialization As Africa develops its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of natural gas to strengthen energy security and expand local economies, local-content frameworks are entering a new phase. Governments are moving beyond requirements for local employment…
Shell reinforces safety commitment at CEO Contractors Forum Shell yesterday (August 18) hosted chief executives of contracting companies in Lagos highlighting the need to sustain safe operations across its businesses in Nigeria. The annual Shell Leadership and Contractor CEO Conference aims to shine a light on “a shared commitment to people, performance and safety.”…
World Bank-Backed TCN Projects Add 480MW to National Grid The Federal Government has said transmission projects backed by the World Bank have added about 480 megawatts (MW) of bulk power capacity to Lagos, as part of efforts to ease grid bottlenecks and improve electricity supply across the state. Minister of Power, Joseph Tegbe, disclosed this on Tuesday while highlighting recent upgrades at the Alausa and Lekki transmission substations. According to Tegbe, the two projects alone increased bulk power capacity by 272MW across two major commercial corridors in Lagos. They followed the commissioning of upgraded facilities at Ijora and Apapa on Monday, bringing the combined additional transmission capacity from the four projects to 480MW. The minister said the upgrades would expand the amount of electricity that can be transferred through Lagos and reduce congestion that has historically constrained supply to homes and businesses. At the Alausa transmission substation, a 30MVA transformer was replaced with a 100MVA unit, increasing the station’s total capacity from 135MVA to 205MVA. The upgrade is expected to raise the bulk power available to Ikeja Electricity Distribution Company by about 80MW, according to the minister. At Lekki, the Transmission Company of Nigeria installed two additional 60MVA, 132/33kV transformers and nine new 33kV feeders. The project doubled the substation’s 132/33kV transformation capacity from 120MVA to 240MVA, resulting in an estimated 192MW increase in bulk power capacity. Tegbe said the projects were part of the Federal Government’s broader strategy to identify and remove infrastructure constraints across the national transmission network, unlock stranded electricity and improve the amount of power available to distribution companies. The Lekki project was executed by Shanghai Electric Group Company Limited with support from the World Bank. The wider project also includes a 300MVA, 330/132kV transformer, which is expected to be energised in November 2026. The minister commended the Transmission Company of Nigeria, Nigerian Independent System Operator, Eko Electricity Distribution Company, Ikeja Electricity Distribution Company, Shanghai Electric Group and the World Bank for their contributions to the projects. He also praised Lagos State Governor Babajide Sanwo Olu for creating an environment conducive to infrastructure investment in the state. TCN Managing Director and Chief Executive Officer, Sule Ahmed Abdulaziz, said the Alausa upgrade was implemented by Shanghai Electric Limited under a World Bank-funded programme. He said the project, once fully energised, would improve the stability and reliability of electricity supplied to at least 70,000 residents within the Ikeja Electricity Distribution Company franchise area. Abdulaziz added that the upgrades would strengthen grid stability and allow distribution companies to receive more bulk electricity for onward distribution to consumers. The projects are expected to support growing electricity demand in Lagos, particularly in major commercial and industrial areas,…
Dangote Refinery Secures $1bn Backing Ahead of Planned IPO The Dangote Petroleum Refinery and Petrochemicals has secured a $1bn underwriting programme ahead of its planned Initial Public Offering, in a move expected to broaden institutional participation in the multibillion-dollar project. The programme, arranged by Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, consists of a completed and funded $600m private placement and an additional $400m underwriting commitment for the proposed IPO. According to the Dangote Group, the $600m private placement was underwritten and funded by Pan-African Refinery Investment SPV, a subsidiary of Lilium Capital Group. Marob Strategies and Lilium Capital are coordinating the distribution of the underwriting participation across Global Africa, targeting sovereign wealth funds, governments, institutional investors and other eligible investors. The advisers said the transaction had attracted strong interest, indicating growing institutional demand for major African assets with the potential to generate long-term…
US Lifts 12-Year Entry Restriction on Nigerian Vessels The United States Coast Guard has lifted the Condition of Entry imposed on vessels arriving in the United States from Nigeria since June 2014, the Federal Government has announced. The development was disclosed by the Nigerian Maritime Administration and Safety Agency in a statement on social media, describing it as a major milestone for Nigeria’s maritime sector. According to NIMASA, the lifting of the restriction followed sustained efforts by the Federal Ministry of Marine and Blue Economy, NIMASA and other stakeholders to strengthen maritime security and ensure compliance with the International Ship and Port Facility Security Code. The agency said the removal of the Condition of Entry is expected to improve the competitiveness of Nigerian ports, enhance vessel turnaround and schedule reliability, and reduce additional security-related costs associated with Nigerian vessels calling at US ports. It added that the development would further strengthen Nigeria’s position in global shipping and improve confidence in the country’s maritime security standards. The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, commended the Director-General of NIMASA, Dr Dayo Mobereola, and other stakeholders for their contributions towards achieving the milestone. The Condition of Entry had been in place since June 2014 and subjected vessels arriving in the US from Nigeria to additional security measures.
Global EITI Validation Assessors Conclude Mission …Commends Nigeria’s Improved Systematic Reporting and High-Level Stakeholders’ Consultations The global Extractive Industries Transparency Initiative (EITI) Validation Mission has commended Nigeria over its improved systematic disclosures which has enabled the real-time release of information and data across Nigeria’s extractive sector. The Assessors also commended the Nigeria Extractive Industries…