Category: Energy

Foreign Oil Giants Seek Re-entry Into Nigeria’s Oil Market, Eye Deepwater Prospects

Ganiyu Amodu

Petrobras, Brazil’s state-controlled oil company, is actively pursuing a return to Nigeria’s oil market, focusing on frontier deepwater exploration opportunities. Petrobas’ re-entry into Nigeria’s oil market marks a significant shift from its previous divestment strategy, reflecting a renewed commitment to expanding its international presence. The development was disclosed in a post by Nigeria’s Vice President, Kashim Shettima, on X (formerly Twitter) yesterday. Shettima attributed Petrobras’ renewed interest in Nigeria to the economic reforms introduced by the Tinubu-led administration. “As the economic reforms of the administration of President take root, the…

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Why Queues Hit CNG stations in Lagos, Abuja – IPMAN Ex-Secretary

ADEOLA YUSUF

  “CNG initiative stalled by poor infrastructure,” what Mike Osatuyi wants Tinubu, Nigerians to know about gas infrastructure gaps, others   A former National Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Mike Osatuyi, has drawn attention to the long queues at stations dispensing Compressed Natural Gas (CNG) in Lagos and Abuja, blaming poor infrastructure and vehicles to stations ratio for the trend. Platforms Africa reports that Osatuyi who said this in an interview with journalists pointed out that despite plans to deploy 200,000 new CNG-powered buses…

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‘1000 Delegates, Over 50 Exhibition Stands,’ NCDMB Tops NOGOF 2025 Preparation

ADEOLA YUSUF

  . Exclusive project opportunity presentations by some 25 industry resource persons, insightful panel sessions, and strategic networking sessions.” What to expect at Nigeria’s Biggest Oil industry’s opportunity Fair    About 1,000 delegates are expected at the 5th Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025 to be hosted by the Nigerian Content Development and Monitoring Board (NCDMB), at the Nigerian Content Tower (NCT) in Yenagoa, Bayelsa State, between May 20 and 22, 2025. Platforms Africa reports that the biennial event which offers a unique platform to present upcoming project…

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Govt’s Spending On Electricity Subsidy Hits N762 Billion

ADEOLA YUSUF

. Fresh facts and figures NERC just published on power sector reveal more   Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the Nigerian Electricity Regulatory Commission showed that the subsidy on power was approximately N178bn in January. It rose to N194bn in February, N192bn in March, and N194bn in April. The Federal Government is therefore going to pay a sum of N198.42bn as electricity subsidy in April. According to a recent media report, the amount is N5.82bn higher…

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I’ll Fight Oil Traders, Marketers Frustrating Tinubu’s Reforms – Dangote

ADEOLA YUSUF

President of Dangote Group, Aliko Dangote, said he would fight to a standstill some major oil marketers and traders who were bent on frustrating the efforts on President Tinubu in revamping the nation’s economy. Dangote,who said this during his visit to President Tinubu gave the clarification on the heels of his earlier statement to fight the cabal in the oil sector in order to guarantee the survival of his $20bn refinery. He said his statement was not in any way connected to the new leadership of the Nigerian National Petroleum…

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Electricity Tariff Hike Imminent, Adelabu Hints At Total Subsidy Removal

ADEOLA YUSUF

Mr. Adebayo Adelabu, Minister of Power has called on Nigerians to accept cost-reflective electricity tariffs, stating that the economy can no longer sustain blanket subsidies. Speaking during a meeting with the Chairperson of the Association of Power Generating Companies (APGC), Dr. Joy Ogaji, Adelabu emphasized the urgent need to fully liberalize the power sector. A statement by his media aide, Bolaji Tunji, quoted the Minister as saying, “Citizens must pay the appropriate price for energy consumed. Targeted subsidies will continue for vulnerable Nigerians, but we must understand that our economy…

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Tinubu Meets GenCos Over N4trn Electricity Debt

ADEOLA YUSUF

. aims to avert power sector collapse   The minister of Power, Adebayo Adelabu has proposed a meeting between President Bola Ahmed Tinubu and owners of electricity Generating Companies (GenCos) on ways to resolve the N4tr debt the government is owing the utility companies. In a statement, the minister said this is to show its commitment in paying the debt in cash and other instruments The commitment was made following high-stakes talks between Power Minister Adebayo Adelabu and Chairmen of Generating Companies of Nigeria (GenCos) in Abuja. The statement signed…

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N80bn Found In P’Harcourt, Warri, Kaduna Refineries MDs’ Bank Accounts

ADEOLA YUSUF

. Lies uncovered As EFCC deepens probe of Kyari, 13 senior ex-NNPCL officials In $3bn refinery fraud   The Economic and Financial Crimes Commission has arrested the recently sacked managing directors and some top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company. The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36. Findings by Saturday PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated…

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Nigerian Army Reacts As Military Barracks’ Metering Generates ₦769.1m In 9 Months

ADEOLA YUSUF

. How We Overcome delayed fund disbursements that slowed early mobilization – De-Haryor CEO   The Nigerian Army has reacted to the ongoing nationwide mass metering initiative across military barracks in Nigeria. Platforms Africa reports that the Federal Government of Nigeria and De-Haryor Global Services announced the mass metering initiative across military barracks, which, was considered a difficult terrain for billing and revenue collections. Inaugurated by the Minister of Power Adebayo Adelabu in March 2023 at the Ikeja Cantonment, Lagos, the metering scheme,  is a special intervention project designed to improve…

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Sunbeth Energies Appoints Lateef Abioye as MD, Signals Nationwide Expansion Drive

ADEOLA YUSUF

Sunbeth Energies Limited is pleased to announce the appointment of Lateef Abioye as its new Managing Director. In this role, Lateef will spearhead the company’s strategic growth agenda, operational excellence, and nationwide expansion as Sunbeth strengthens its position in Nigeria’s energy landscape. A wholly owned Nigerian company, Sunbeth Energies is in the global business of petroleum product trading, covering production, storage, transportation, marketing, and distribution. The company has earned a reputation for delivering high-quality fuel products through its integrated trading and logistics operations. Leveraging a strong international network, Sunbeth Energies…

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