Privatise Nigeria’s Oil Industry? Easier Said Than Done

Oil drops as China cuts economic growth target

Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support. U.S. West Texas Intermediate (WTI) crude oil futures were at 56.31 dollars per barrel at 0740 GMT, down 28 cents, or 0.5 per cent, from their […]

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NERC approves 121 power firms to meter yet-to power consumers

The Nigerian Electricity Regulatory Commission (NERC) has granted certificate of ‘no objection’ to 121 metering firms to procure and install electrical meters to yet-to-be metered power consumers in Nigeria through its Meter Assets Providers (MAP) scheme, correspondent has learnt. This was disclosed in a recent document on the MAP released by the NERC in Abuja, […]

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People watch as Hoa Binh hydroelectric power plant opens the flood gates after a heavy rainfall caused by a tropical depression in Hoa Binh province, outside Hanoi

Shiroro Power Plant receives ₦8.5 bln boost

Shiroro Hydroelectric Power Plant, Niger State, has received a ₦8.5 billion investment boost as its operators, North South Power Company Limited’s (NSP) issue Green Bond to optimize its output. The 15-year tenured bond with 15.60% yield was issued under a 50 billion Debt Issuance Programme. It was made possible through the guarantee of InfraCredit, a […]

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Electricity Power Equipment

How FG failed to deliver 945 MW to national grid

Chineme Okafor, writes on how the federal government failed to deliver its promise of an additional 945 megawatts of electricity to the national grid by the end of 2018 In October 2018, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, had promised Nigerians that nationwide power supply will get better with an anticipated […]

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Oil workers walk through pipe installations on a tanker at Bonga off-shore oil field outside Lagos, file.

PENGASSAN denies sale of NNPC

Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has refuted social media post by one Jomo Iroha, that its President, Francis Johnson, issued a statement over the sale of the Nigeria National Petroleum Corporation, NNPC. The Association in a statement by Lumumba Okugbawa, its General Secretary, insisted that at no time did PENGASSAN […]

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Benin residents commend BEDC over improved power supply

Residents of Benin and its environs have commended the federal government and the Benin Electricity Distribution Company Plc (BEDC) for the improvement in power supply to their areas. Some of the residents who spoke with the News Agency of Nigeria (NAN) in Benin, in separate interviews, said the commendation was against the background of their […]

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Nigeria, India Pledge Deeper Collaboration On Energy Sector

Nigeria, India to work more closely on energy security

Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries. The consensus came on the heels of a visit today in Abuja of the Indian High Commissioner to Nigeria, His Excellency, Abhay Thakur, to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. […]

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Electricity Power Equipment

Power distribution firms must automate their systems – NERC

The Nigerian Electricity Regulatory Commission has directed that power distribution companies are to fully automate their commercial system operations in the sector. NERC said such automation would enable the commission to effectively monitor all the funds collected from power users on behalf of the industry by the Discos, as well as enhance the customer services […]

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A ship berths near the Nigeria Liquified Natural Gas company (NLNG) near Finima village, during an aerial tour by the Royal Dutch Shell company, in Bonny March 22, 2013. REUTERS/Akintunde Akinleye

Cooking Gas: Nigerians may experience scarcity as NIMASA detains NLNG vessel

Nigerians may experience scarcity of Liquefied Petroleum Gas (LPG), better known as cooking gas, following the detention of NLNG Limited’s vessel by the Nigerian Maritime Administration and Safety Agency (NIMASA) over alleged violation of the Cabotage Act, THISDAY has learnt. It was gathered that the detention of ‘MT Navigator Capricorn,’ the only vessel that supplies […]

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The Egina FPSO (Floating Production Storage and Offloading) unit is currently berthed in Lagos harbour, but will soon be moved offshore to produce up to 200 000 barrels of oil per day.

Total eyes 23 pct of Nigeria’s daily oil production with Egina FPSO

Multinational oil company, Total, has said it will be responsible for 23 per cent of the total crude oil Nigeria produces daily when its 200,000 barrels a day (bd) Egina Floating Production Storage and Offloading (FPSO) oil platform fully comes on stream. Managing Director, Total, Mr. Nicolas Terraz, said this at the just concluded second […]

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Babatunde Raji Fashola

Power generation increased by 100 pct in 3-year

The Minister of Power, Works and Housing, Babatunde Fashola, has stated that power generation in Nigeria increased by 100 per cent within a space of three years. Fashola, who disclosed this while playing host to members of the Federation of Construction Industry in his office on Monday in Abuja, specifically stated that power generation increased […]

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Electric wires are pictured in Ojuelegba district in Nigeria's commercial capital Lagos

Despite Growth Promise, Power Supply Averages 3,952MW

Despite the promise by the Minister of Power, Works and Housing, Mr. Babatunde Fashola, in October 2018 that nationwide power supply could get better with the anticipated addition of 945MW of electricity into the grid before the end of the year, the average power supply in January 2019 was below the December 2018 level, THISDAY’s […]

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