The Federal Government has banned the exportation of Liquefied Petroleum Gas, popularly called cooking gas, in a bid to increase its volume domestically to warrant a crash in price. It stated on Thursday that LPG producers in Nigeria and key stakeholders in the industry had been told to stop Continue Reading
Energy
The two-day suspension of operations concerning the lifting of petroleum products by the Nigerian Association of Road Transport Owners, NARTO, has been called off by the oil transporters. NARTO confirmed this in Abuja on Tuesday evening after the intervention of the Federal Government through the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri. Continue Reading
By Simeon Ugbodovon Oyo State Governor, Seyi Makinde has signed into law Oyo State Electricity Regulatory Commission Bill. Governor Seyi Makinde made this known on his verified X handle @seyiamakinde. According to Governor Makinde, the law will facilitate the generation, transmission and distribution of electricity within Oyo State. The State’s helmsman said his action was Continue Reading
By Iyabo Adebisi The Minister of Power, Chief Adebayo Adelabu has declared war against vandals working against improvement in the power supply and vandalising power facilities. He said his ministry has the support of President Bola Tinubu and the National Security Adviser, Nuhu Ribadu to deal with vandals and saboteurs in the Power sector. The […]Continue Reading
By Uche Ndeke The Independent Petroleum Marketers Association of Nigeria, IPMAN, has advised members of the public to disregard the alarm and speculations about an increase in the pump price of Premium Motor Spirit otherwise known as fuel. Chairman of IPMAN, Enugu Depot, Mr Chinedu Anyaso made the call in an interview with Radio Nigeria […]Continue Reading
The Federal Government has inaugurated an energy management and control centre established in Abuja to monitor electricity mini-grids operating across the country. It said the centre, known as the Energy Management System, would serve as the off-grid electricity supervisory control and data acquisition system for mini power grids in Nigeria. Speaking at the launch of […]Continue Reading
By Iyabo Adebisi The President of the Nigerian Economic Society, NES, and expert in Petroleum Economics, Professor Adeola Adenikinju says low investment in the nation’s energy sector portends great danger for the economy of the country in the future. The Professor of Petroleum Economics at the University of Ibadan, UI, lamented that divestment by international oil Continue Reading
As workers commenced a nationwide indefinite strike on Tuesday, the Transmission Company of Nigeria, TCN, has said there is no truth in a media report about a looming national blackout. TCN emphasised that the claim made by an online news outlet alleging that the Head of Public Affairs of TCN predicted a national blackout was […]Continue Reading
The Nigerian National Petroleum Company (NNPC) Limited said it has noted the appearance of fuel queues in some parts of Lagos and a few other locations around the country. The retail management of the NNPC in a statement on Thursday, said the queues are due to reduced Depot loadout in Apapa, Lagos over a few […]Continue Reading
By Abimbola Bamgbose Investors in Nigeria will begin to enjoy maximum power supply to boost production capacity while contributing to the general economic growth of the nation. Vice President Kashim Shettima gave the assurance during the Agbara Business Roundtable held in Agbara, Ado-Odo/Ota Local Government Area of Ogun State. Vice President Shettima, who is the […]Continue Reading
By Olawale Asake The Federal Competition and Consumer Protection Commission, FCCPC, says it will not fail to sanction any Electricity Distribution Company, DisCo, that fails to comply with extant rules and regulations in the power sector. The Executive Vice Chairman and Chief Executive Officer, CEO, of the Commission, Mr Babatunde Irukera, stated this at the […]Continue Reading
No fewer than 18 people, including a pregnant woman, have lost their lives following an explosion in an illegal oil refining site in the Ibas community in the Emuoha Local Government Area of Rivers State. It was learned that the incident occurred late Sunday night when some people in the community were scooping petroleum products. […]Continue Reading
Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners. The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told newsmen that the price of Liquefied Petroleum Gas also known as cooking gas has […]Continue Reading
There was a fire incident at the Transmission Company of Nigeria transmission, TCN, substation in Birnin-Kebbi, Kebbi State, on Thursday night. The 330 kilovolt (kV) facility was reportedly engulfed in the inferno, though the immediate cause has yet to be disclosed. The incident comes barely 24 hours after a national electricity grid collapse resulting from […]Continue Reading
The Nigerian Electricity Regulatory Commission has urged prepaid meter users to update their meters before November 2024. NERC shared the update on its X handle (formerly Twitter) on Tuesday. The electricity regulatory commission added that the update, which is free of charge, would not affect the current prepaid units of users. It further advised users […]Continue Reading
By Saadatu Albashir President Bola Tinubu and industry stakeholders have taken a definitive stance, asserting that the existing fuel pricing structure will remain unchanged. Ajuri Ngelele, the spokesperson for President Tinubu, said stakeholders were proactively tackling inefficiencies, that seek to pre-empt the need for a price increase while also fostering a level Continue Reading
The Nigerian National Petroleum Company Limited, NNPCL, has eventually spoken up as regards the widespread concern of a possible hike in the pump price of Premium Motor Spirit, popularly called petrol. In a post by the company, posted around 11:48pm on Monday on its official X (formerly Twitter) handle, the national oil firm and major […]Continue Reading
Jeffrey Ahonmisi/Bukunmi Some residents of Ibadan are trooping to liquefied natural gas stations to refill their gas cylinder as report indicates an imminent increase of the Product. Radio Nigeria correspondents, who monitored the situation observed that long queues of customers were seen trying to fill their gas at a popular gas filling station in Molete […]Continue Reading
The hike in the foreign exchange rate and activities in the international market may result in an increase in the price of cooking gas, says the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) Mr Olatunbosun Oladapo, the President of the association, issued the warning on Thursday in Lagos during an interview with newsmen. Oladapo […]Continue Reading
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has disclosed that the average daily consumption of fuel in Nigeria has fallen by no fewer than 28 percent since President Bola Ahmed Tinubu announced the scrapping of fuel subsidies. According to new figures released to Reuters by NMDPRA, the average daily petrol consumption fell to […]Continue Reading
By Bolanle Adesida Ogun State Governor, Prince Dapo Abiodun has said that his administration would take advantage of the newly signed electricity bill by establishing a company that would generate and distribute power supply in the State. Governor Abiodun made this known at Okemosan Abeokuta while receiving participants of the Senior Executive Course 45, Group […]Continue Reading
There was palpable anxiety among members of the public, following a rise in the ex-depot price of petrol by 4.3% to 490 naira per litre. As a result, some petrol stations have started selling above 500 naira per litre, 12 naira higher than the 488 naira per litre price in the Lagos area and 500 […]Continue Reading
By Adenitan Akinola The Federal Government is to provide solar energy alternatives to Nigerians in a bid to cushion the effect of subsidy removal on businesses and households. The Managing Director of Rural Electrification Agency (REA) Mr Ahmad Salihijo Ahmad gave the hint in Osogbo, the Osun State capital during the inspection of Energizing Economies […]Continue Reading
Prominent Niger Delta leader and former agitator, Mujahid Asari Dokubo, on Friday, in Abuja, alleged that the bulk cases of oil theft recorded in the oil-rich region are traceable to the Nigerian Army and Navy. “The military is at the centre of oil theft and we have to make this very clear to the Nigerian […]Continue Reading
By Funmi Adekoya The Osun State Governor, Senator Ademola Adeleke says his administration is set to develop a plan of action for the making of Osun State Electricity Market Policy and Legislation. Speaking on recent signing into law of a constitutional amendment empowering state governments to regulate electricity market within their boundaries, Governor Adeleke in […]Continue Reading