ENERGY

The house of representatives has launched a probe into the disbursement and utilisation of the N200 billion loan provided by the Central Bank of Nigeria (CBN) for the national mass metering programme (NMMP) to electricity distribution companies (DisCos). Uchenna Okonkwo, Chairman of the House Committee on Power, disclosed this in...

A delegation from the Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday visited MT Valves West Africa Free Zone at Lekki Free Zone, Lagos, to assess the firm’s operations and plans to invest in a 15,000 tons per year valves manufacturing facility. The company, a subsidiary of MT Group,...

The Nigeria Customs Service has shed light on the continued smuggling of petrol across the country’s borders, despite the elimination of fuel subsidies. According to the Comptroller General of Customs, Adewale Adeniyi, the practice remains attractive to smugglers due to the stark difference in fuel prices between Nigeria and its...

• pledges to build an “NNPC that’ll be the pride of Nigerians” A few days after assuming duties as the new Group Chief Executive Officer of the NNPC Ltd, Mr. Bashir Bayo Ojulari has met the staff of the Company, with a vow to pursue the company’s bold ambitions and...

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Bashir Bayo Ojulari, has reaffirmed his commitment to forging strong and effective partnerships with key stakeholders to successfully deliver on the strategic mandate entrusted to him by His Excellency, President Bola Ahmed Tinubu. According to...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that the country’s total proven and probable (2P) crude oil, condensate, and gas reserves as at January 1, 2025, have been pegged at 37.28 billion barrels and 210.54 trillion cubic feet (TCF) respectively. The figures, contained in a press release signed...

Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday. According to a press statement on Friday by Mr. Olufemi O. Soneye, Chief Corporate Communications Officer,...

President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited Board, removing the Chairman, Chief Pius Akinyelure; Group Chief Executive Officer, Mallam Mele Kolo Kyari; and all Board members appointed with them in November 2023, with their replacements named. The sweeping changes were...

The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed plans to review divestments of 26 oil blocks worth $6.03 billion by five International Oil Companies (IOCs). This was disclosed by the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, during the agency’s first-quarter media briefing in Abuja. It cited the...

Dangote Petroleum Refinery and Petrochemicals has suspended the sale of petrol and other products to marketers in Naira. The company management announced the development in a statement it issued to the media on Wednesday. According to the statement, the company said the development was as a result of the fact...