Power grid collapse under investigation,says TCN
Business a.m.
September 14, 2023
The Transmission Company of Nigeria (TCN), said the collapse of the national grid in the early hours of the morning which occurred after a fire incident on Kainji/Jebba 330kV line 2 is being investigated, with the view to forestalling future occurrence and invariably further strengthening the grid. Ndid Mbah, TCN’s general manager for public affairs, […]
Nationwide blackout as Nigeria’s electricity grid collapses
Business a.m.September 14, 2023
Business A.M Nigeria has been thrown into a nationwide power outage following the complete collapse of the national grid system, operated by the Transmission Company of Nigeria (TCN). Business A.M gathered that the grid , located in Osogbo,Osun State, plunged to 273 megawatts of electricity coming from two out of the over 27 electricity generation […]
Italy’s Eni to sell Nigerian subsidiary, NAOC to Oando PLC
Business a.m.September 4, 2023
Business A.M Italian multinational energy company,Eni has announced the sale of its exploration and production subsidiary, Nigerian Agip Oil Co. (NAOC) to Oando PLC, a leading indigenous energy solutions provider. The sale for an undisclosed sum is in line with Eni’s 2023-26 plan and subject to approval from local and regulatory authorities. Business A.M understands […]
Concerns mount over Kaduna DisCo 60 days after NERC licence revocation notice
Adeola AjakaiyeAugust 31, 2023
Adeola Ajakaiye in Kaduna Stakeholders in the electricity sector in Kaduna and its environ have been thrown into a state of confusion as the 60-day revocation notice issued by Nigerian Electricity Regulatory Commission (NERC) to Kaduna Electricity Distribution Company (KAEDCO), in respect of its indebtedness has expired. The Nigerian electricity regulatory body (NERC), had on […]
Petrol rises 215% nationwide in one year, NBS reports
Cynthia EzekweAugust 22, 2023
By Cynthia Ezekwe. Nigerian consumers paid higher for petrol and diesel in July 2023 as the average retail price of petrol rose to N600.35, indicating a 215.95 per cent increase when compared to N190.01 recorded in July 2022, while diesel was up 2.60 per cent on a year-on-year basis from a lower cost of […]
Nigeria targets 11,500 gas-powered vehicles in new initiative
Onome AmugeAugust 21, 2023
By Onome Amuge. President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI) to promote nationwide adoption of gas-powered vehicles. Ajuri Ngelale, special adviser to the president on media and publicity, in a statement,said the initiative was in furtherance of the president’s commitment to easing the impact of the petrol […]
$20bn annual investment needed for gas expansion projects, says NEITI
Cynthia EzekweAugust 15, 2023
By Cynthia Ezekwe. The Nigeria Extractive Industries Transparency Initiative (NEITI) has said that Nigeria requires $20 billion annual investment to achieve the desired gas expansion and deepen the use of natural gas in the country. The agency disclosed this at the ‘Decade of Gas Action Plan Dialogue’ event organised recently in Abuja, by the African […]
Atlas Oranto, privately-held E&P, positions for Africa energy leadership
BEN EGUZOZIEAugust 14, 2023
… Africa spread sets it up to drive economic growth By Ben Eguzozie. Atlas Oranto, Nigeria’s largest privately-held and Africa-focused exploration and production company is poised to play a pivotal role in shaping Africa’s energy landscape and drive the continent’s economic growth. For its part, Atlas Oranto understands the untapped resource wealth that Africa […]
Geopolitics favour Nigeria’s $9bn target from LNG Train 7
BEN EGUZOZIEJuly 31, 2023
By Ben Eguzozie. Geopolitics, especially the dynamics that have so far played out in the war between Russia and Ukraine, are lining the path finely for Nigeria to hit its earning target of as much as $9 billion annually from its LNG Train 7 when the $7 billion gas liquefaction plant goes on stream. Hard […]
Global LNG capacity increases by 4.3% to 478.4 MPTA
BEN EGUZOZIEJuly 25, 2023
By Ben Eguzozie. Global liquefaction capacity of Liquefed Natural Gas (LNG) grew by 4.3 percent to a total of 478.4 million tonnes per annum (MTPA) as of end-2022, according to the newly released 14th edition of the annual World LNG Report released by the International Gas Union (IGU). Of this figure, 75 percent of the […]