The International Finance Corporation (IFC), a member of the World Bank Group, alongside AXIAN, Sagemcom and Norfund has announced its investment in WeLight, Africa’s leader in rural electrification through mini-grids in subSaharan Africa. In a statement, the company said, “the transaction marks a defining step in WeLight’s development” and is geared towards accelerating its geographic […]

Nigeria exported Premium Motor Spirit, popularly known as petrol, worth N105.5bn to Togo in the first quarter of 2026 amid recent revelations that Nigerian fuel marketers are increasingly re-importing Dangote-produced petroleum products through the offshore ship-to-ship trading hub in Lomé, Togo, official trade data has shown, The Punch reports. According to the export figures in […]

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over what it termed “undue exploitation of consumers” from players in the downstream petroleum market. In a statement Sunday by its Director, Corporate Affairs, Ondaje Ijagwu, the FCCPC stated that a review of the gantry prices of local refiners, marketers, depot operators and retail […]

The Federal Government says Nigeria can save $121bn in fuel costs by transitioning to a power generation mix comprising 90 per cent renewable energy, The Punch reports. The Minister of Power, Joseph Tegbe, described the projected savings as a major economic benefit for businesses, households and the government, while speaking at the Lagos Chamber of […]

The Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, said distributed renewable energy is the fastest route to solving the country’s electricity supply challenges and to sustained economic growth. Aliyu, who disclosed this while delivering a keynote address titled “Scaling Mini-Grids and Solar Infrastructure for Industrial Production” at the Lagos Chamber of Commerce […]

The Adamawa State government has inaugurated 300 electric tricycles for commercial use. The tricycles, which were issued at half the prevailing fares, are to be used at the initial phase in Yola, the state capital, as well as communities in Numan Local Government Area, were provided under a scheme termed Affordable Transport Solution (ATRaS), an investment […]

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed that the Dangote Petroleum Refinery imported approximately 1.46 billion litres of gasoline blendstock and other intermediate feedstocks between January and May 2026 to boost its petrol production, The Tribune reports. According to its May 2026 Midstream and Downstream Petroleum Statistics, the refinery continues […]

The Nigerian Electricity Regulatory Commission (NERC) has released N21 billion to electricity distribution companies (DisCos) to provide customers, numbering over 7 million, with meters within 60 days. This is under the Meter Acquisition Fund (MAF) as part of efforts to bridge the metering gap in the Nigerian Electricity Supply Industry (NESI). In the first tranche […]