By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s oil, condensate, and gas reserves as of January 1, 2026. The NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, revealed on Wednesday that crude oil and condensate reserves now stand at 31.09 billion barrels and 5.92 billion barrels, respectively, bringing total oil…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has increased the price of natural gas supplied to power generation companies to $2.18 per metric million British thermal units (MMBTU), effective April 1, 2026. The new rate represents a $0.05 increase from the previous price of $2.13/MMBTU, according to a circular issued by the regulator…
The Nigeria Labour Congress (NLC) on Tuesday staged a protest at the headquarters of the Abuja Electricity Distribution Company (AEDC) in Abuja over the alleged disengagement of about 900 workers. Speaking during the picketing exercise, NLC President, Joe Ajaero, described the mass sack as a “deceitful and dangerous trend” within the power sector. “A majority…
By Seun Ibiyemi The Minister of Power, Adebayo Adelabu, has dismissed reports circulating on some media platforms claiming he had resigned his appointment, describing them as false and misleading. Adelabu’s Special Adviser on Media and Publicity, Bolaji Tunji, made the clarification while speaking with journalists on Tuesday in Ibadan. Tunji urged media practitioners to uphold…
By Seun Ibiyemi Power generation companies in Nigeria have raised fresh concerns over mounting operational challenges tied to a staggering N6.8 trillion debt burden, warning that the situation is putting increasing strain on electricity supply across the country. The concerns were expressed by Joy Ogaji, Chief Executive Officer of the Association of Power Generation Companies,…
By Seun Ibiyemi The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has called for innovative financing models, stronger private sector participation and deeper regional collaboration to unlock Africa’s vast natural gas potential. Ekpo made the call on Monday in Abuja at a Ministerial Roundtable on Regional Gas Development and Cooperation in Africa, organised…
By Seun Ibiyemi The Chairman of the Nigerian Electricity Regulatory Commission (NERC), Musiliu Oseni, on Thursday chaired the first quarter 2026 Nigerian Electricity Supply Industry (NESI) Stakeholders’ Meeting in Lagos, where he called for a strategic shift toward proactive public engagement in the power sector. The quarterly NESI meeting brought together regulators and operators across…
By Seun Ibiyemi The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, has reaffirmed the Board’s commitment to strengthening local content development with participation in the groundbreaking ceremony of a permanent shorebase facility by Esso Exploration & Production Nigeria Ltd at the Lagos Deep Offshore Logistics (LADOL) yard. In…
By Seun Ibiyemi Nigeria’s Minister of Power, Adebayo Adelabu, says ongoing reforms in the electricity sector have attracted over two billion dollars in fresh investments, signalling renewed investor confidence and improved sector performance. Adelabu made this known on Thursday in Abuja during the commissioning of the new headquarters of the Nigeria Electricity Liability Management Company….
By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited to advance offshore oil exploration and strengthen Nigeria’s hydrocarbon resource base. The agreement, executed in Abuja, authorises SeaSeis, in partnership with TGS, to acquire and process new 3D seismic and gravity data…
