The Federal Government says it plans to phase out subsidy payments in the electricity sector from 2027. Minister of Power, Joseph Tegbe, who disclosed the plan during a media interactive session on Friday, said the development was to address the mounting debts and liabilities in the power sector. However, Tegbe assured Nigerians that the policy […]

Seplat Energy Plc, through its subsidiaries, Seplat Energy Offshore Limited (SEOL) and Seplat Energy Producing Nigeria Unlimited (SEPNU) have now signed a legally binding Agreement with the Nigerian National Petroleum Company Limited (NNPC) for the sale of a 10% working interest in the assets held within the Joint Venture of NNPC Limited and SEPNU for […]

The Niger government has attracted 150 million United States Dollars (USD) from the Islamic Development Bank (IsDB) for a 100MW solar project in the state. The Chairman, New Niger Development Project (NNDP), Alhaji Mustapha Abubakar Bida, disclosed this at the second edition of the quarterly media briefing organised by the Ministry of Information and Orientation. […]

Lauritz Knudsen, a business unit of Schneider Electric, is strengthening collaboration and showcasing its electrical distribution and automation technologies aimed at supporting Nigeria’s evolving infrastructure. Head of Strategy, Business Development, Pricing and LK Middle East and Africa at Lauritz Knudsen Electrical & Automation, Dallal Slimani, said partnerships would be central to meeting the region’s growing […]

Nigeria recently secured clean energy investments worth $155m, according to the Rural Electrification Agency (REA). The Managing Director of the REA, Abba Aliyu, disclosed this in a statement on Friday, saying there’s now international confidence in Nigeria’s off-grid electricity market. Aliyu revealed that the country recently secured an $80m debt facility dedicated to expanding off-grid […]

Dangote Petroleum Refinery and Petrochemicals FZE has secured about $2.5bn in fresh funds through a private equity placement, described by the company as “Africa’s largest publicly disclosed primary equity private placement by value.” The company disclosed this in a statement on Thursday, stating, “Dangote Petroleum Refinery and Petrochemicals FZE (“DPRP” or the “Enterprise”) today announces […]

The cost of electricity in Nigeria is about to rise, as the Federal Government has reiterated its plans to phase out subsidies and transition to cost-reflective tariffs across the power sector. The Special Adviser to the President on Power Infrastructure, Sadiq Wanka, disclosed this in Lagos on Wednesday at Asharami Square 3.0, while speaking at […]

The Federal Government says Nigeria is set to increase its daily crude oil production by an additional 300,000 barrels over the next three years through the development of newly licensed oil and gas assets. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, made the disclosure on Tuesday when he declared […]