Category: Energy

NNPC Reduces Petrol Price To ₦‎860/Litre

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited, NNPCL, has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N860 per litre. This development is the latest in a price war among oil marketers and independent petroleum dealers. It is also influenced by fluctuations in global crude oil prices. The new NNPCL price, which takes effect on Monday, marks a significant drop from the previous average of N920 per litre. Former UNILAG Chief Imam Prof. Murtala Bidmos Is Dead DevReporting Takes Off, Names Mojeed…

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Again, Dangote Reduces Petrol Price

ADEOLA YUSUF

Dangote Petroleum Refinery and Petrochemicals has slashed the price of petrol for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1. The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days. This recent price reduction will also ensure that Nigerians pay between N860 and N865…

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Ekpo Hails NNPCL, Private Sector Partnerships On Mini LNG Projects

ADEOLA YUSUF

… Lauds Gas Sector Transformation Under President Tinubu’s leadership   Nigeria’s gas sector has witnessed significant transformation under the administration of President Bola Tinubu, according to the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo. Speaking yesterday at the Nigerian International Energy Summit in Abuja, Ekpo highlighted the substantial progress made in gas infrastructure development, policy reforms, gas utilization, and domestic initiatives, marking a remarkable turnaround for the sector. A statement by the Minister’s spokesman, Louis Ibah, quoted him as saying: “The Federal Government is attracting investment in…

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Tinubu Unveils Strategic Reforms, Mulls Nigeria’s Emergence As Global Energy PowerHouse

ADEOLA YUSUF

At the opening ceremony of the Nigeria International Energy Summit (NIES) on February 25, 2025, President Bola Ahmed Tinubu, represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, delivered a compelling address outlining Nigeria’s ambitious plans to transform its energy sector. President Tinubu expressed unwavering confidence in Nigeria’s potential to become a global powerhouse in the energy industry. He attributed this potential to strategic reforms, innovative policies, and a steadfast commitment to sustainable development. “I stand before you with ongoing confidence in Nigeria’s potential to be a global…

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NIPCO Converts 15,000 Vehicles To CNG, Secures 25-Year Gas Distribution Licenses

ADEOLA YUSUF

    “Ibadan, Benin City, Lekki FTZ, Kara-Sagamu-Abeokuta-Ibadan Axis,” list of key catchment areas + full speech by MD/CEO, NIPCO Gas Ltd, Nagendra Verma, on feat, partnership, and Presidential CNG Initiative (PCNGI) to expand CNG stations   The NIPCO Gas Ltd has converted 15,000 vehicles to Compressed Natural Gas (CNG) just as it has been awarded Gas Distribution Licenses (GDL) by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Government. MD/CEO, NIPCO Gas Ltd, Nagendra Verma, who disclosed this during a media briefing in Lagos, maintained…

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‘Contained, No Casualties’ NNPC Gives Update As Fire Rocks Cawthorne Channel 1 Barges

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited (NNPC Ltd) has given an update on a fire that broke out on the dry crude storage barge BESTAF5 at Cawthorne Channel 1, Rivers State, on Wednesday spreading to other barges. The company, in a statement by its Chief Corporate Communication Officer, Olufemi Soneye on Thursday, said that the fire has been successfully contained with no casualties. “At approximately 14:10 hours on Wednesday, February 19, 2025, a fire broke out on the dry crude storage barge BESTAF5 at Cawthorne Channel 1, Rivers State, spreading…

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‘How We Did It,’ Falcon Speaks On 15,000MT LPG Project 1m Man-Hour Without injury

ADEOLA YUSUF

    Falcon Corporation Limited said it had accomplished a significant milestone by achieving one million man-hours without a lost time injury (LTI) on the ongoing 15,000MT LPG storage facility project in Port Harcourt. The Managing Director/Founder of the firm, Prof. Joe Ezigbo, who said this in a statement to Platforms Africa, maintained that the accomplishment underscores Falcon’s dedication to best practices and safety standards across its operations and management. Ezigbo expressed pride in this achievement, highlighting the company’s commitment to maintaining high standards in environmental, health, safety, and quality…

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NNPC Free To Import Fuel If Necessary – NMDPRA

ADEOLA YUSUF

…Says local refineries met 50 percent national consumption requirement in February   The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), on Wednesday, stated that there is no law that prohibits Nigerian National Petroleum Company Limited (NNPCL) from importing when necessary. The NMDPRA, while saying that all the petroleum products imported to the country this year are of standard quality, clarified that the NNPCL has not imported the Premium Motor Spirit (PMS) petrol this year. The Executive Director, Distribution System, Storage and Retailing Infrastructure, Ogbugo Ukoha, who made this disclosure…

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If $23bn Refinery Didn’t Work, I Was Dead – Dangote

ADEOLA YUSUF

Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the “biggest risk” of his life, acknowledging the challenges he faced in bringing the venture to fruition. In an exclusive interview with Forbes on Monday, Dangote opened up about the risks involved in such a massive undertaking. “It was the biggest risk of my life. If this didn’t work, I was dead,” he said. Despite the refinery’s groundbreaking capacity of 650,000 barrels per day and its status as Africa’s largest, Dangote revealed that the journey to completion was…

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‘Meter Tampering, By-Pass,’ NERC Slams New Fines’ Thresholds On DisCos, Customers In Amended Order

ADEOLA YUSUF

    ‘11 For 11,’ Platforms Africa presents Eleven Things To Know About New Order and Implications On 11 DisCos, and millions of their customers      The Nigerian Electricity Regulatory Commission (NERC) has issued an amended Order detailing new threshold of penalties for customers and Distribution Companies (DIsCos) on “Unauthorised Access, Meter Tampering, and By-Pass.” Platforms Africa reports that the Amended Order, which replaces Order No: NERC/REG/41/2017, has taken effect from 22 January 2025. This amendment, NERC said in the Order notice sent to Platforms Africa, “aligns with the…

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