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Low investment in energy sector dangerous for economy – Professor Adenikinju

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
Energy

Cooking Gas Price Hike Imminient

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
Energy

Fire Guts TCN Transmission Substation

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
Energy

Stakeholders working to prevent further PMS price hike – Tinubu Media Aide

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
Energy

Queue at Gas Hub as Fear of Price Hike Looms

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
Energy

Osun Targets Plan of Action for Electricity Market

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
Energy

Petrol price will eventually drop- NNPC

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, NNPC, Mele Kyari, on Thursday, allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, known better as petrol across the country. The NNPC boss said competition among major players in the oil sector would force down the price of petrol as […]Continue Reading
Energy

NNPCL Releases New Petroleum Pump Price

The Nigerian National Petroleum Ccompany Limited (NNPCL) has jerked up pump prices of petrol (PMS) by over 200 per cent bringing the price of fuel to between N488 and N557 per litre.A new pricing template purportedly sent to marketers by the NNPCL management to oil marketers late yesterday, a copy of which was obtained by newsmen, […]Continue Reading