By Seun Ibiyemi The Federal Government has launched a crackdown on massive electricity theft and commercial losses along the 132kV Ikorodu–Sagamu industrial corridor, with unaccounted power estimated at 100 megawatts and an annual revenue loss of about ₦120 billion. The Minister of Power, Joseph Tegbe, announced the intervention on Friday during a high-level stakeholder meeting…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set the first quarter of 2027 as the new target for completing its 10-storey headquarters, known as The Barrel, in Abuja. The Commission said the completion of the building would improve its operational efficiency and strengthen Nigeria’s image when engaging local and international investors in the oil…
By Seun Ibiyemi Sahara Power Enterprise Group (SPEG) has commenced construction of a 12-megawatt gas-fired Independent Power Plant (IPP) in Lagos, targeting improved electricity supply to businesses, residents and public institutions across Ogba, Acme Road, Wemco Road and surrounding communities. The project, located within the Ogba Undertaking of Ikeja Electric Plc, is expected to be…
By Seun Ibiyemi Nigeria’s electricity Distribution Companies (DisCos) failed to collect N669.49 billion from customers who were billed for electricity in 2025, highlighting persistent revenue challenges in the power sector. The figure was contained in the 2025 Annual Report of the Nigerian Electricity Regulatory Commission (NERC), which showed that DisCos billed customers N2.99 trillion during…
By Seun Ibiyemi The Dangote Petroleum Refinery has warned that it may export excess Premium Motor Spirit (PMS) stocks as rising petrol imports create uncertainty around domestic demand and complicate inventory planning. The refinery said imported petrol accounted for about 43 per cent of PMS supplied into the Nigerian market in July, despite its capacity…
By Seun Ibiyemi President Bola Ahmed Tinubu has charged the management of Nigeria Liquefied Natural Gas Limited (NLNG) to maximise the country’s gas resources by reducing gas flaring and increasing domestic utilisation. Tinubu gave the charge on Wednesday at the State House in Abuja when he received members of the NLNG Board, led by its…
By Seun Ibiyemi The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have rejected calls for the reinstatement of petrol subsidy, arguing that the government should instead focus on reviving Nigeria’s refineries and critical petroleum infrastructure. The two major downstream petroleum groups made their positions…
By Seun Ibiyemi The Chairman of the Rural Electrification Agency (REA), Ayodele Fayose, has described the Renewable Asset Management Company (RAMCO) as a major development capable of transforming Nigeria’s electricity sector by ensuring the sustainability and efficient management of renewable energy infrastructure. Fayose made the remarks in Abuja at the launch of RAMCO, where he…
Crude oil imports by domestic refineries surged by 151.5 per cent to 5.13 million barrels in July 2026, as local crude supplies to refiners declined sharply, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The increase in imported crude came as domestic refineries received significantly less crude from Nigerian producers…
By Seun Ibiyemi The Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,185 to N1,200 per litre. The latest adjustment, which took effect on Wednesday, August 26, 2026, represents a N15 increase per litre and is the second price hike by the…
