DisCos net N291bn, 79.11% billing efficiency amid 673 megawatts loss in Q1’24
Post AMUGE
July 24, 2024
Business a.m. Nigerian Electricity Distribution Companies (DisCos) surpassed their revenue collection targets in the first quarter of 2024, generating N291.62 billion in revenue out of a total of N368.65 billion billed to customers. According to a recent report by the Nigerian Electricity Regulatory Commission (NERC), this translates to a collection efficiency of 79.11 percent, reflecting […]
AEDC shakes up leadership team, names Chijoke Okwuokenye acting MD/CEO
Post AMUGEJuly 22, 2024
Business a.m. The Abuja Electricity Distribution Company (AEDC) has announced the appointment of Chijioke Okwuokenye as the acting managing director, with immediate effect. The company, in a statement signed by Adefisayo Akinsanya, the head of marketing and corporate communications, AEDC, stated that the appointment, which is part of the transformation agenda of the company, will […]
Dangote denies Nigeria diesel claim, seeks probe of quality dispute with NMDPRA
Post AMUGEJuly 22, 2024
Business a.m. Aliko Dangote, president of Dangote Industries Limited (DIL), has refuted claims made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that the petroleum products produced by his Lagos-based refinery are substandard, asserting that DIL’s diesel is, in fact, 80 percent better in quality than the diesel being imported into the country. […]
d.light’s $176m solar facility sparks opportunity for affordable off-grid energy in Kenya, Tanzania, and Uganda
Post AMUGEJuly 18, 2024
Business a.m. d.light, the global provider of transformational household products and affordable finance for low-income households, has closed a new securitization facility that will purchase $176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by social impact-focused asset management company African Frontier Capital. d.light stated that it will use […]
Dangote lauds NUPRC for publishing guidelines on domestic crude supply obligation
Post AMUGEJuly 17, 2024
…warns of rising local crude oil Prices as trading arms offer cargoes above official price Business a.m. Dangote Industries Limited (DIL) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its recent interventions in the company’s crude supply requests from International Oil Companies (IOCs). The Management of DIL also commended NUPRC for publishing […]
MOSOP, environmentalists welcome Tinubu’s appointment of new coordinator for HYPREP
BEN EGUZOZIEJuly 14, 2024
Ben Eguzozie The Movement for the Survival of Ogoni People (MOSOP), the main pressure group of the Ogonis, and other environmentalists have welcomed President Bola Tinubu’s appointment of Olufemi Adekanmbi as new coordinator of the Hydrocarbon Pollution Remediation Project (HYPREP), a body to supervise the clean-up and environmental remediation of Ogoniland and other oil-impacted […]
MOSOP, environmentalists welcome Tinubu’s appointment of new coordinator for HYPREP
Post AMUGEJuly 14, 2024
Ben Eguzozie The Movement for the Survival of Ogoni People (MOSOP), the main pressure group of the Ogonis, and other environmentalists have welcomed President Bola Tinubu’s appointment of Olufemi Adekanmbi as new coordinator of the Hydrocarbon Pollution Remediation Project (HYPREP), a body to supervise the clean-up and environmental remediation of Ogoniland and other oil-impacted communities […]
Nigeria’s oil production woes cast doubt on global market position
Post AMUGEJuly 10, 2024
Business a.m. The Nigerian oil industry is facing mounting criticism and pressure to address its underperforming production levels, which have consistently missed both budget benchmarks and Organization of the Petroleum Exporting Countries (OPEC) quotas. This,experts warn, is an indication that Nigeria is at risk of losing its footing as a major player in the global […]
NNPC canvasses energy funding institutions in Africa for projects
Post AMUGEJuly 9, 2024
The Nigerian National Petroleum Company Limited is canvassing in Nigeria and across Africa more institutions with the capacity to fund energy projects that would lead to tackling energy poverty on the continent. Umar Ajiya, NNPC Ltd’s chief financial officer made the call at the 23rd Nigeria Oil Gas Conference and Exhibition (NOG Energy Week) in […]
Seplat CEO pushes speedier divestment process to enhance Nigeria’s oil production
Post AMUGEJuly 9, 2024
Business a.m. Reporter A speedier process in the divestment of oil assets in Nigeria has huge potential of raising the country’s oil production, says Roger Brown, the chief executive of independent oil company, Seplat Energy Plc. Brown, who leads the company quoted on both the Nigerian and London Stock Exchanges, said the country’s sub-surface potentials […]