… PETROAN tasks NNPC on domestic refining to curb global shocks … Domestic refining won’t significantly lower petrol prices – CPPE By Seun Ibiyemi The Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals (DPRP), David Bird, has assured Nigerians that the refinery will continue to meet the country’s fuel demand despite the volatility in…
By Seun Ibiyemi The Nigerian Electricity Regulatory Commission (NERC) has announced plans to partner with eTranzact International Plc to deploy financial technology solutions aimed at improving liquidity in Nigeria’s electricity market. The Chairman of NERC, Musiliu Oseni, disclosed this in a statement published on the commission’s website on Monday in Abuja. Read also: NERC orders…
By Seun Ibiyemi The Nigeria Labour Congress (NLC) has raised concerns over an alleged plan by officials within the Transmission Company of Nigeria (TCN) to spend nearly ₦20 billion on electricity grid expansion projects under what it described as questionable emergency procurement arrangements. In a letter addressed to the Minister of Power, Adebayo Adelabu, the…
…Surges above $100 as Middle East conflict escalates … Fuel price changes driven by market forces – NMDPRA By Seun Ibiyemi Fresh concerns over a possible increase in petrol prices have emerged in Nigeria’s downstream petroleum sector following the suspension of loading operations at the Dangote Petroleum Refinery. The refinery has halted the loading of…
By Seun Ibiyemi The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said the resolution of the long-running dispute over OPL 245 will strengthen Nigeria’s economy and enhance the federal government’s fiscal capacity. Fagbemi made the remarks in Abuja following the signing of a legal agreement that formally brought the prolonged dispute…
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPCL) and several independent marketers have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, for the second time in less than 24 hours following a fresh price adjustment by the Dangote Refinery. The state-owned oil company on Sunday raised its petrol…
By Seun Ibiyemi The Eko Electricity Distribution Company (EKEDC) has announced a planned three-day power outage in the Lekki district of Lagos to allow engineers carry out network upgrade works aimed at improving electricity supply in the rapidly growing area. In a notice issued to customers, the company said the temporary disruption will affect residents…
By Seun Ibiyemi President Bola Tinubu on Friday inaugurated an 11-member committee to facilitate the incorporation of the proposed Grid Asset Management Company Ltd. (GAMCO) as part of efforts to strengthen Nigeria’s electricity transmission and grid management system. The inauguration took place at the State House in Abuja following the approval of the company’s establishment…
By Seun Ibiyemi The management of Benin Electricity Distribution Company (BEDC) Plc has expressed concern over the sharp decline in electricity generation from Nigeria’s national grid, saying the development is negatively affecting its operations, customer satisfaction and revenue collection. The Chief Commercial Officer of the company, Mr. Ogunleye Akinleye, disclosed this while speaking with journalists…
By Seun Ibiyemi The Transmission Company of Nigeria (TCN) has announced the installation of 82 power transformers across the country within the last 23 months as part of efforts to strengthen electricity transmission and improve power supply nationwide. The development was disclosed in a publication outlining the company’s achievements and challenges over the past five…
