By Seun Ibiyemi The Nigerian Content Development and Monitoring Board (NCDMB) has urged journalists in Anambra State and the wider South-East region to intensify coverage of local content activities in Nigeria’s oil and gas industry to help residents benefit from employment, training and business opportunities. The Board made the call on Thursday during a capacity-building…
By Seun Ibiyemi The Transmission Company of Nigeria (TCN) has restored bulk electricity supply through its Kukwaba 132kV Transmission Substation in Abuja after an outage that lasted about 40 hours. TCN announced that power supply was restored at 4:16 p.m. on Thursday, October 15, 2026, following an interruption that began at 12:24 a.m. on Wednesday,…
By Seun Ibiyemi The Federal Government has commenced the construction of a 17.7-megawatt (MW) interconnected mini-grid in Ibadan, Oyo State, targeting at least 20 hours of daily electricity supply to five communities along the Iwo Road axis. The project, developed by Paras Energy & Natural Resources Development Limited, is being implemented through the Rural Electrification…
By David Oluwatosin Renaissance Africa Energy Company Limited has partnered with 13 banks to provide $4.1 billion and ₦435 billion in financing to indigenous oil and gas contractors, in a move aimed at accelerating production growth and strengthening local industry capacity. The Renaissance Vendors Financing Scheme (RVFS) was unveiled at a Memorandum of Understanding (MoU)…
Energy expert, Nick Agule has questioned Nigeria’s reliance on international oil price benchmarks for domestic petroleum pricing, arguing that the policy places a disproportionate burden on Nigerians whose incomes remain far below those of consumers in advanced economies. In an opinion piece dated October 13, 2026, Agule challenged the argument that domestic petroleum prices must…
By Seun Ibiyemi The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared that Nigeria is open for business, urging local and international investors to take advantage of opportunities in the country’s oil and gas sector. Lokpobiri said the Federal Government was strengthening the investment climate through reforms, improved regulatory frameworks and…
By Seun Ibiyemi The Federal Government has paid N1.23 trillion in legacy debts owed to power generation companies (Gencos) and plans to clear the outstanding balance in 2027, as it intensifies efforts to improve electricity supply and attract investment into the power sector. The Minister of Power, Joseph Tegbe, disclosed this at the Harvard Business…
By David Oluwatosin The Lagos State Government has announced plans to increase electricity supply to above 3,000 megawatts (MW) by March 2027, from the current level of below 1,000MW, as it intensifies efforts to tackle power shortages and build a 24-hour economy. Governor Babajide Sanwo-Olu disclosed the target at the fourth Lagos Business School Africa…
By Seun Ibiyemi The Federal Government has dismissed claims that the petrol price discount introduced by NNPC Retail Limited amounts to a return of fuel subsidy, insisting that the initiative is funded entirely from the company’s retail margin without recourse to public funds. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,…
By Seun Ibiyemi The Minister of Power, Joseph Tegbe, has constituted a ministerial committee involving security agencies and power sector stakeholders to tackle the persistent vandalism of electricity infrastructure and improve the reliability of power supply across the country. The committee is expected to develop and coordinate measures to prevent attacks on generation, transmission and…
