Tag: Olu Verheijen

Govt’s Spending On Electricity Subsidy Hits N762 Billion

Ganiyu Amodu

. 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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Nigeria Regains Top Spot In Africa’s Oil Upstream Investment

Ganiyu Amodu

Nigeria has reclaimed its position as Africa’s leading oil upstream investment destination, overtaking Angola despite the latter’s continued investment in major deepwater developments. Data sourced from Wood Mackenzie, Nigeria topped the continent’s upstream capital expenditure (capex) rankings in 2024, driven by a series of incremental deepwater projects and sustained activity in its rich offshore basins. The country outpaced Angola, which had held the position in recent years, by capitalising on major oil projects such as the Agogo-Ndungu development by Azule Energy, and the ongoing work on TotalEnergies’ infill projects –…

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