New gas deal to boost Nigeria’s 1.2 tcf

April 26, 2021

COVID-19 lockdown: NLNG, Total, NGC, others ask Rivers State for exemption

…GDA, Nigeria’s first agreement separating gas development from oil production   Ben Eguzozie, in Port Harcourt   A new gas commercialization deal signed by the Nigerian National Petroleum Corporation (NNPC) and Sterling Oil Exploration and Production Company (SEEPCO), a private operator of the Oil Mining Lease (OML) 143, is set to boost Nigeria’s 1.2 trillion cubic […]

Nigeria tops electricity-deficient countries – World Bank

April 26, 2021

  …Down from 2017 ranking after Yemen …Global lender approved $1.25bn financing to support Nigeria reset power sector …Businesses lose $29bn annually to power unavailability     Ben Eguzozie, in Port Harcourt   Nigeria, Africa’s top oil producer and the continent’s biggest economy by GDP, has unenviably slipped into first-from-bottom in electricity-deficient countries index, according […]

Poor electricity costs Nigerian businesses $29bn per year – World Bank

Online EditorApril 22, 2021

Arakunle Kayode   The World Bank has disclosed that approximately $29 billion is lost every year for Nigerian businesses as a result of the country’s unreliable electricity. According to the bank, Nigeria also has the most people without access to electricity in the world, with one out of every ten people without access to electricity […]

Optimism grows on oil demand returning 100mbd

September 29, 2020

The whiff of optimism being expressed in respectable quarters about chances that oil demand could yet return to the psychological comfortable figure of 100 million barrels per day received another heavyweight support last week with ConocoPhillips joining the fray to issue a forward-looking statement that demand will not only return to that number but that […]

New electricity tariffs: NLC threatens action against Discos, OPS says it will usher in recession fast

September 2, 2020

NLC gives govs Dec 31 deadline for new minimum wage implementation

Organised labour and the organised private sector have slammed the upward review of electricity tariffs which started on September 1, 2020. Commenting on the matter, the Manufacturers Association of Nigeria said the tariff increase could trigger another round of recession in the third quarter of the year. Ambrose Oruche, the acting director-general, Manufacturing Association of […]

FG-Siemens power deal to gulp $2.3bn out of $6.15bn energy fund – Minister

August 27, 2020

The federal government is to spend the sum of $2.3 billion on its  power deal with Siemens, a german electrical  firm, for the improvement of electricity in the country. Sale Mamman, minister of power, who stated this said another $1.6bn was for the transmission rehabilitation and expansion Programme. The misterrecently marked his one year anniversary […]

Nigeria records landmark power transmission of 5,420.3MW

August 20, 2020

Gencos allege N1.7tn funding shortfall

The Nigerian power industry recorded a landmark national peak of 5,420.30 megawatts, the first of its kind in the country. According to the Transmission Company of Nigeria, in a statement on Thursday, the 5,420.3MW was effectively transmitted through the national grid at a frequency of 50.10Hz at 9:15 pm on August 18, 2020. “This is […]