By Seun Ibiyemi The Federal Government’s electricity subsidy obligation fell by 35.27 per cent to N679.58 billion in the first half of 2026, compared with N1.05 trillion recorded in the corresponding period of 2025, according to the Nigerian Electricity Regulatory Commission (NERC). NERC disclosed this in its Q2 2026 Electricity Market Report, which showed that…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to ensure the productive restart of the country’s state-owned refineries by January, ahead of the upcoming election period. The association said reviving the government-owned refineries would strengthen Nigeria’s domestic refining capacity, improve the utilisation of critical national assets and deepen…
By Seun Ibiyemi The Federal Government has commenced construction of a new ultra-modern National Control Centre for the Nigerian Independent System Operator (NISO) in Osogbo, Osun State, in a major step towards strengthening the stability, security and resilience of Nigeria’s electricity grid. The new facility is expected to replace the existing National Control Centre, which…
…Revenue falls 24% to N34.5trn despite stronger earnings …EBITDA rises 22% to N18trn, dividend increases 35% to N5.8trn …Targets 2mbpd oil output by 2027, 3mbpd by 2030 By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a 33 per cent increase in profit after tax (PAT) to N7.2 trillion for the…
By Seun Ibiyemi The Federal Government has established an Off-Grid Sector Coordination Secretariat to track commitments, manage risks and eliminate duplication of projects across Nigeria’s electricity sector. The initiative was unveiled on Monday in Abuja at the official relaunch of the Off-Grid Stakeholder Coordination and Partnership Forum, organised by the Rural Electrification Agency (REA). The…
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Final Investment Decision (FID) on the $800 million Ima Gas Project, describing the development as a major boost to investment confidence in Nigeria’s upstream gas sector. The project, located offshore in Oil Mining Leases (OMLs) 112 and 117, is being developed…
By Seun Ibiyemi The Federal Government has commissioned a 581kWp interconnected solar mini-grid with 1.4MW battery storage capacity in Oke-Oyi Community, Ilorin East Local Government Area of Kwara State, as part of efforts to expand reliable electricity supply to rural communities. The project, commissioned by the Minister of Power, Joseph Tegbe, is designed to provide…
Nigeria produced approximately 307 million barrels of crude oil and condensate between March and August 2026, with daily output rising to a six-month peak of 1.74 million barrels per day (bpd) in June. Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that combined crude oil and condensate production averaged about 1.67 million bpd…
By Seun Ibiyemi The Rural Electrification Agency (REA) has opened its operations to a comprehensive system study and review by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), as part of efforts to strengthen accountability, transparency and institutional effectiveness. The review followed an initiative by the REA to invite the anti-corruption commission to…
…Project targets 300m standard cubic feet of gas daily By Seun Ibiyemi Nigeria has moved to unlock a gas resource discovered more than five decades ago as the $800 million Ima Gas Project reached Final Investment Decision (FID), in a development the Federal Government says could strengthen gas supply, industrial production and investment in the…
