A shift is taking place in the global economy. For much of the past decade, discussions about artificial intelligence centered on algorithms, semiconductors, GPUs, and data. In 2026, another factor has moved decisively to the centre of the conversation, electricity. Al companies are discovering that billions of dollars of GPUs are of limited value if…
The Transmission Company of Nigeria (TCN) has increased bulk electricity transmission capacity around the Apapa corridor in Lagos following the commissioning of four new high-capacity transmission assets. The projects comprise two 60 MVA, 132/33kV gas-insulated switchgear (GIS) substations at the upgraded Apapa Road Transmission Substation and two new 100 MVA power transformers at the 132/33kV…
By Seun Ibiyemi The planned restart of Nigeria’s Port Harcourt and Warri refineries could fail to deliver lasting benefits unless the Federal Government guarantees steady crude oil supplies to the facilities, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned. The association said the success of the refineries should no longer be…
Former Vice-President Atiku Abubakar has accused the administration of President Bola Ahmed Tinubu of worsening Nigeria’s refinery challenges, arguing that the President can no longer attribute the problems in the petroleum sector to previous governments. Atiku, the presidential candidate of the African Democratic Congress (ADC), made the allegation in a statement issued on Sunday by…
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said the Federal Government’s new tax incentive for deep offshore oil and gas projects could unlock more than $50 billion in fresh investments and accelerate the development of Nigeria’s untapped offshore resources. NNPC said the signing of the Deep Offshore Oil and Gas…
President Bola Ahmed Tinubu has assured oil and gas workers that Nigeria’s refineries will be restored to full and sustainable operations, stressing that the facilities must become profitable and deliver value to Nigerians. Tinubu gave the assurance on Thursday at the State House, Abuja, while receiving the newly elected leadership of the Nigeria Union of…
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has expressed readiness to implement amendments to the Production Sharing Contract (PSC) framework following the Federal Government’s approval of a new incentive regime for deep offshore oil and gas projects. NNPC Group Chief Executive Officer, Bayo Ojulari, disclosed this on Wednesday after President Bola Tinubu signed the…
By Seun Ibiyemi Nigeria’s crude oil production declined by 4 per cent month-on-month to 1.505 million barrels per day (mbpd) in July 2026, but remained above the country’s OPEC quota of 1.5mbpd for the third consecutive month. The latest production data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the country produced…
The Economic and Financial Crimes Commission (EFCC) has recovered more than N115 billion and $84 million in outstanding statutory levies owed the Niger Delta Development Commission (NDDC) by oil companies, the anti-graft agency has told the Senate. The disclosure was made on Wednesday before the Senate Public Accounts Committee, chaired by Senator Ibrahim Dankwambo, during…
By Seun Ibiyemi President Bola Ahmed Tinubu has approved a new investment framework aimed at unlocking up to $50 billion in deep offshore investments and reviving major capital-intensive oil and gas projects that have remained stalled for years. The reform replaces project-by-project negotiations with a transparent, rules-based framework designed to provide greater certainty for investors…
