Nigeria is turning to commercial banks and private investors to help close a $20.5 billion funding gap needed to improve electricity access and expand renewable energy across the country. The funding gap was disclosed by the Managing Director of the Rural Electrification Agency (REA), Abba Abubakar Aliyu, who said Nigeria requires about $23 billion to […]

Aliko Dangote is offering East African countries a combined 30% equity stake in a planned oil refinery in Lamu, Kenya, as he seeks regional partners for a project that could reshape fuel supply across East Africa. Kenya could take a 10% stake worth approximately $500 million, while Ethiopia and Rwanda have also expressed interest in […]

The Federal Government has commissioned upgraded transmission facilities at four major substations in Lagos, adding about 360 megawatts (MW) of bulk power capacity to strengthen electricity supply across the state. The projects at Ijora, Apapa Road, Alausa, and Lekki are expected to improve the delivery of electricity to residential, commercial, and industrial consumers within the […]

Nigerian electric vehicle company Hybrid Motors Nigeria Limited and art platform Artnovation are set to unveil The Bridge of Motion, an artistic project exploring the intersection of electric mobility, renewable energy, technology, and sustainable development in Milan, Italy. The unveiling will take place on September 16, 2026, at the opening of Echoes of Renaissance in […]

Electric motorcycles are gradually becoming more visible on the streets of Gombe as riders look for alternatives to increasingly expensive petrol. According to a recent Al Jazeera report, “Petrol in Gombe now sells for about ₦1,365 per litre, compared with roughly ₦200 before the removal of Nigeria’s petrol subsidy in 2023“. For some riders, switching […]

Aradel Holdings Plc has revealed plans to commence petrol production at its modular refinery in 2027. The decision is backed by the removal of subsidies, which has made fuel more profitable. A modular refinery is a compact, skid-mounted oil processing plant designed for quick deployment and efficient crude oil refining. Temitayo Ogunbanjo, General Manager, Refinery, who made […]

Nigeria has, for the third consecutive month, met and exceeded its OPEC quota of 1.5mbpd, latest statistics from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have revealed. The Commission, in a statement from Eniola Akinkuotu, Head, Media and Corporate Communications, said the nation reached a daily peak production of crude oil and condensate of 1.78mbpd. “In the […]

President Bola Ahmed Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, which, according to him, is geared towards providing “clear and predictable terms for a new generation of deep offshore investment in Nigeria.” The president made this disclosure on Tuesday in a statement signed by him. The statement […]