Power grid failures pile pressure on economic growth
Onome Amuge
March 21, 2022
BY: ONOME AMUGE Just as Nigerians continue to bear the brunt of the current energy crisis in the petroleum sector amid rising inflation, the country’s erratic electricity output, spurred by poor power supply from the national grid and the recurring electricity system collapse, has inflicted yet another blow on the populace. The agonsing trend of […]
AfricaGoGreen gets $30m to drive Africa’s energy transition
Charles AbuedeMarch 16, 2022
BY: CHARLES ABUEDE The AfricaGoGreen Fund, a flagship project under the G20 Compact with Africa has received a $30 million investment from three development finance institutions – the African Development Bank (AfDB), and the Bank’s Sustainable Energy Fund for Africa (SEFA) in collaboration with Nordic Development Fund (NDF). The new funds are expected to trigger […]
Power minister’s 18,000mw capacity whitewash fails to achieve goal
Businessam StaffMarch 14, 2022
BY: Olusola Bello. The federal government claims that the country now has an installed electricity capacity of 18,000 megawatts with 8,000 megawatts of daily generation. This claim has, as expected, roused the attention of and attracted comments from industry operators. The claim is coming amid complaints of terrible supply situations across the country with a […]
TotalEnergies CEO lauds Nigeria’s COP26 pledge, says gas key in transition
Businessam StaffMarch 14, 2022
BY: Olusola Bello Nigeria’s commitment to achieve Net Zero emission by 2060 made at the COP26 Summit in Glasgow Scotland earlier in the year has been described as encouraging as the country focuses on renewable energy by Mike Sangster, managing director and chief executive officer of Total Energies, one of the major international oil companies […]
Setback for Shell in $1.95bn debt appeal as Egbalor community wins Round One
Phillip IsakpaMarch 13, 2022
Shell ordered to deposit N800bn judgement debt with court Shell ordered not to sell assets until it obeys order Operating in Nigeria as Shell Petroleum Development Company (SPDC), international oil company, Shell, which has joined other businesses to review its investments in Russia over the invasion of Ukraine, but which is contesting a judgement […]
Ogunleye is new NLNG deputy MD as Mai-Bornu returns to NNPC
Maduabuchi EfegadiMarch 9, 2022
By: Maduabuchi Efegadi The board of directors of Nigeria’s gas liquefaction company, NLNG Limited, has approved the appointment of Olalekan Olufemi Ogunleye as new deputy managing director, succeeding Sadeeq Mai-Bornu, who served out his appointment at the NLNG. Mai-Bornu who was appointed in April 2016, will return to his parent company, the Nigerian National Petroleum […]
Petrol sells above N500/litre in Nigeria as crude rallies to $116/bl
Charles AbuedeMarch 4, 2022
BY: CHARLES ABUEDE The continued fuel scarcity in some states in Nigeria is creating more problems for Nigerians with businesses and commuters feeling the brunt of the scarcity induced price inflation. A market check by Business A.M. found that petrol now sells at above N500 in the streets as motorists and individuals are unable to […]
Seplat gives 60kboed 2022 production guidance, posts $733m 2021 revenue
Charles AbuedeMarch 2, 2022
BY: CHARLES ABUEDE Seplat Energies has given a production guidance of 60,000 boepd on a working interest basis following its recent $1.28 billion acquisition of Mobil Producing Nigeria Unlimited (MPNU); as well as a 38 percent year on year increase to $733 million in its 2021 revenues, the company stated in its published audited full-year […]
NERC’s digital app to aid consumer reporting power outages
Onome AmugeFebruary 28, 2022
The Nigerian Electricity Regulatory Commission (NERC) said it would, in a matter of weeks, commence the operation of a power outage reporting application to enable consumers to report power supply situations in their localities, a measure it said will help address power outage challenges across the country. Musiliu Oseni, vice chairman, NERC, who made the […]
Ogunleye, new NLNG deputy MD as Mai-Bornu returns to NNPC
Maduabuchi EfegadiFebruary 28, 2022
By Maduabuchi Efegadi The board of directors of Nigeria’s gas liquefaction company, NLNG Limited, has approved the appointment of Olalekan Olufemi Ogunleye as new deputy managing director, succeeding Sadeeq Mai-Bornu, who served out his appointment at the NLNG. Mai-Bornu who was appointed in April 2016, will return to his parent company, the Nigerian […]