Energy

Revenue targets by power distribution companies are set based on the electricity consumption of consumers, the Association of Nigerian Electricity Distributors has said. ANED, the umbrella body for the Discos, argued that it was wrong to claim that Discos extort electricity consumers due to their high revenue targets. Its Executive …

President Muhammadu Buhari on Wednesday faulted the privatization of the power sector that was done under the administration of former President Goodluck Jonathan. Buhari while speaking during an interview with Channels Television described the process as a “political favour” done to those closed to the administration at that time. He …

Ololade Omosan-Agie President Muhammadu Buhari has approved the appointment of a nine-man Board for the Nigerian National Petroleum Company Limited, in accordance with the power vested in him under Section 59(2) of the Petroleum Industry Act (PIA) 2021. He also appointed four Executive Commissioners for the Nigerian Upstream Petroleum Regulatory …

Electricity Distribution Companies (Discos) only managed to remit N265.03 billion of the expected N519.77 billion to the Nigerian Bulk Electricity Trading Company (NBET) in the first six months of 2021. Data from the Nigerian Electricity Regulatory Commission (NERC), the latest in the series, revealed that despite intermittent government intervention, liquidity …

The crisis rocking Seplat Energy Plc deepened on Thursday as the energy giant has sacked Mr Austin Avuru as a non-executive director. The termination of Avuru’s contract is coming few weeks after the company’s Chairman resigned his position with an effective date in 2022. His resignation is just eight days …

The National Union of Electricity Employees, on Tuesday, called on the Federal Government to reverse the privatisation of the power sector because “it is not working and cannot work.” The NUEE and other trade unions under the aegis of Public Services International also told the Federal Government not to go …

The Nigerian National Petroleum Company Limited (NNPC), has said it is not behind a competition trending online which claims to celebrate a so called “Anniversary Event.” The Corporation stated this in a statement by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division. In the purported contest, unsuspecting participants …

Begining from January next year, the Federal Government will make public the real owners of oil, gas and mining assets in the country. The disclosure of these assets, according to the government, would be done through a National Beneficial Ownership (NBO) register The data to be jointly launched by the …

Ololade Omosan-Agie The Nigerian National Petroleum Company Ltd on Tuesday assured Nigerians that it has adequate supply of petrol that will last the country far beyond the festive period. The NNPC said this in a statement signed by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division. It said …

Oil marketers has attributed the widespread queues for Premium Motor Spirit, popularly called petrol, in Abuja and environs to the lingering crisis in the supply of the commodity. It was also learnt that many tank farms were not dispensing products on Monday due to hitches in the supply of petrol. …