The Nigerian government has indicated that electricity tariffs may need to increase by over 65% for some consumers to align with the actual cost of power production. Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, told Bloomberg that power tariffs in Nigeria must rise by approximately two-thirds for many users to reflect the […]Read More
Dangote Refinery has reassured Nigerians that petrol will be sold at ₦970 per litre nationwide through its three key partners, despite a recent adjustment to its ex-depot price. Anthony Chiejina, a spokesperson for the refinery, attributed the price adjustment to a significant rise in global crude oil prices. In a statement released on Sunday, Chiejina […]Read More
Oil and gas giant Seplat has announced its ambition to double its crude oil production capacity within six months. This follows their acquisition of assets previously held by ExxonMobil, who have withdrawn from Nigeria’s onshore oil sector. Seplat’s Chief Financial Officer, Eleanor Adaralegbe, outlined this target in an interview with the Financial Times on Tuesday. […]Read More
Aba Power Limited Electric (APLE), an electricity distribution company (DisCo) serving nine Local Government Areas in Abia State, has announced a substantial increase in electricity tariffs, with rates soaring by over 50 percent. The revised tariffs, which came into effect on 1 January 2025, were authorised by the Nigerian Electricity Regulatory Commission (NERC). The company […]Read More
Shell has signed a significant engineering, procurement, and construction (EPC) contract with China’s Offshore Oil Engineering Company (COOEC) to advance Nigeria’s gas production. COOEC will deliver a platform jacket and topsides for the HI gas and condensate project in Nigeria’s Offshore Mining Licence (OML) 144. Key Milestones in Offshore DevelopmentSituated 50 kilometres offshore in the […]Read More
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