Energy

132kV double circuit transmission line vandalised in Enugu

Ihesiulo Grace 27 February 2018 0

TCN’s New Haven 9th Mile, Nsukka 132kV Double Circuit Transmission lines, still under construction has been vandalized by unknown persons last week at the Eziama Nike village in Enugu East, Enugu State. From the assessment of the site of the incident by TCN engineers, the vandals carted away

Energy

Ashaka Cement’s N11bn power plant ready 2019

Ihesiulo Grace 27 February 2018 0

Nigeria’s energy problem will receive a much-needed boost early 2019 when the 16-megawatts power station being constructed by AshakaCem is completed. AshakaCem is a subsidiary of Lafarge Africa and a member of the LafargeHolcin Group. The 11-billion naira project began in 2017 and is expected to be completed in January 2019, the managing director of […]

Energy

Nigeria’s average petrol price per litre rise 28.4% year on year to N191 in January

Ihesiulo Grace 13 February 2018 0

Average price paid by Nigerian consumers for premium motor spirit (petrol) increased by 28.4 percent year-on-year and 11.1 percent month-on-month to N 190.9 in January 2018 from N171.8 in December 2017, according to data supplied by the National Bureau of Statistics (NBS). In a report released Tuesday the NBS indicated that Osun State topped the […]

Energy

Ambode approves legislation to boost power by 4,000M

Ihesiulo Grace 13 February 2018 0

Lagos State Governor, Mr. Akinwunmi Ambode, has assented to the State Electric Power Reform Bill into law. The law is specifically designed to generate at least 4, 000 megawatts of electricity under an embedded power initiative. The governor also signed six other bills into laws namely: the Amended Land Use Charge Bill, School of Nursing […]

Energy

Community attacks IBEDC over outrageous billings

Ihesiulo Grace 13 February 2018 0

Except for the management of the Ibadan Electricity Distribution Company (IBEDC) takes urgent steps to restore the prepaid meter to the people of Unity and Peace Estate in Ado-Odo-Ota, Ogun State, the issue of collection of electricity bills in the area may, after all, be forgotten for now. Occupants of the estate trooped out in […]

Energy

NBS: 3.45 million Nigerians metered

Ihesiulo Grace 13 February 2018 0

As of Q4 2017, only 46.16% equivalent to 3.45 million consumers of the total 7.48 million power consumers in Nigeria were metered, according to a power sector report compiled by the National Bureau of Statistics (NBS). The NBS report, Power Sector Report: Energy Generated and Sent Out and Consumed and Load Allocation, metering data indicates […]

Energy

Crude oil prices drop to $65, Nigeria’s budget not threatened

Ihesiulo Grace 9 February 2018 0

Crude oil prices yesterday were close to their lowest levels this year with soaring United States, US, output undermining Organization of Petroleum Exporting Countries, OPEC’s efforts to tighten markets and prop up prices. Oil pipeline Brent crude price was at $65.28 per barrel down 23 cents, or 0.4 percent, from the previous close. However, with […]

Energy

FG assures Nigerians of 4,500MW minimum electricity supply from 2018

Ihesiulo Grace 2 February 2018 0

Nigeria’s Federal Government said the implementation of the Power Sector Recovery Programme (PSRP) will ensure a minimum baseline daily power supply of 4,500Mega Watts (MW) from 2018. A fact sheet document obtained by the NAN from the coordinators of the PSRP in Abuja indicated that PSRP would also prioritise operational and technical interventions to ensure […]

Energy

Nigeria, Niger Republic sign deal to build refinery in Katsina

Ihesiulo Grace 2 February 2018 0

Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources, on Wednesday signed an agreement with the President of the Republic of Niger, Mahamadou Issoufou and the Energy Minister of the Republic of Niger, Foumakoye Gado to construct a refinery in the border town between the Republic of Niger and Katsina State. Although details of […]

Energy

Nigeria owes NNPC N171bn subsidy claims – Baru

Ihesiulo Grace 30 January 2018 0

The Nigerian National Petroleum Corporation, NNPC, Monday, said it is being owed N170.6 billion outstanding subsidy claims by the country. The NNPC in a statement in Abuja quoted its Group Managing Director, Mr. Maikanti Baru, as stating that the claims were for payments due it from January 2006 to December, 2015. According to the statement, […]

Energy

Collapse of Nigeria’s power sector imminent – IBEDC

Ihesiulo Grace 30 January 2018 0

The management of Ibadan Electricity Distribution Companies, IBEDC, has warned that Nigeria’s power sector is on the brink of collapse as its dysfunctional and foundation related issues are yet to be addressed. This came as the company signed a Memorandum of Understanding, MoU, with the United States Power Africa on technical partnership to improve its […]

Energy

Gas flaring law error cost Nigeria billions of dollars

Ihesiulo Grace 29 January 2018 0

Africa’s top oil producer plans to make gas flaring more costly for companies that have escaped the payment of billions of dollars despite being fined, Nigerian Finance Minister Kemi Adeosun said. In the “legal framework for the gas-flaring penalty, it was drafted as a charge. A charge is tax deductible,” Adeosun said in a Jan. […]

Energy

Oil climbs $71 for first time since 2014 on reduced U.S crude inventories, tighter cuts

Ihesiulo Grace 25 January 2018 0

Oil prices hit a new high of $71 per barrel Thursday for the first time since 2014, supported by increasing decline in U.S. crude inventories, a weaker U.S. dollar and OPEC-led supply cuts, according to Reuters report. Oil prices, boosted by a record 10th straight weekly decline in U.S. crude inventories spiked to a three-year […]

Energy

Turkish association to increase electrical products in Nigeria

Ihesiulo Grace 16 January 2018 0

Members of the Turkish Electro-Technology Exporters’ Association( TET )), a professional body representing over 7,500 member companies, on Tuesday expressed its readiness to increase their electrical products in the Nigerian market. Mehmet Kavaklioglu,Vice Chairman of the TET Board, who spoke on behalf of the association, said in Lagos that Nigeria was an expanding

Energy

Marketers to NNPC: Increase petrol supply

Ihesiulo Grace 16 January 2018 0

Owing to the persistent scarcity of the Premium Motor Spirit (PMS) also known as petrol, nationwide, the Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), Mr. Olufemi Adewole, on Monday urged the Nigerian National Petroleum Corporation (NNPC) to increase its supply to the marketers. He admitted that the corporation was giving fuel to

Energy

FG set to develop master plan, reduce mercury use in mining

Ihesiulo Grace 16 January 2018 0

The Federal Government has said it is working to develop a National Action Plan, NAP, to reduce the use of mercury in Nigeria. Dr Abdukadir Muazu, the Permanent Secretary, Ministry of Mines and Steel Development, said this in Abuja at a workshop for National Comprehensive Analysis of Artisanal and Small Scale Gold Mining Sector. Sand […]

Energy Headlines

Nigeria’s FG moves to terminate fiber network concession agreements, to recover $75.5m

Ihesiulo Grace 14 January 2018 0

Babatunde Raji Fashola, Nigeria’s minister of power, works and housing has written to president Muhammadu Buhari in an effort of  Transmission company of Nigeria (TCN) to terminate two failed Fiber Network concession agreements and recover the outstanding concession fees of $75,500,000.00 million from the two concessionaires. In the letter addressed to the president

Energy

Nigeria’s one of the cheapest country to buy petrol

Ihesiulo Grace 9 January 2018 0

Nigeria is the eighth cheapest place in the world to buy petrol according to a report by Bloomberg. The report explained that Nigeria’s selling price of N145 (equivalent to $0.40 per litre) and $1.52 per gallon makes it one of the 10 cheapest places in the world to buy gasoline compared to a global average […]

Energy Opinion

Fashola reveals why Nigeria is not using 2,000mw of electricity

Ihesiulo Grace 9 January 2018 0

Nigeria’s Minister of Power, Babatunde Fashola has said the country currently has 2,000 megawatts of electricity that is not in use, because it cannot be distributed. Fashola stated this at the January 2018 edition of the monthly power sector operators’s meeting in Lafia, Nasarawa. The Minister explained that the power was not being utilized because […]

Energy

F G to issue N10.6bn green bonds to finance renewable energy projects

Ihesiulo Grace 19 December 2017 0

Ms. Patience Oniha, the Director-General, Debt Management Office (DMO), says the Federal Government is planning to issue N10.6 billion green bonds to finance renewable energy projects to protect the environment. Oniha said this in Abuja on lwast week at the Nigeria Green Bond Investors Forum, organised by the Federal Ministries of Environment and Finance, in […]