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Author Archives: admin

N753 Million Debt Hinders Slash on Consumers Electricity Tariff

An electricity company, Evanpower Engineering Company has said that they cannot put in place their new technology that can enhance the revenue for electricity distribution companies (DISCOS) and slash the electricity bills (tariff) for consumers because of the debt of N753 million. The company, which gained endorsement of the National Electricity Regulatory Commission (NERC), three years ago for the project, ...

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Oil Glut Raises Concern over Storage Facility

Oil prices went down in the international market early this week as demand for energy collapses amid the coronavirus pandemic and traders are concern that the glut may result to shortage of storage facilities and do not want to get stuck owning crude with nowhere to store it. Tanks could hit their limits within three weeks, according to Chris Midgley, ...

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African Utility to Organise Free Virtual POWERGEN Conference Next Month

The organisers of African Utility Week and POWERGEN Africa have announced that a free, virtual conference will take place in May. The Free online event will feature world-class speakers, insightful programme, matchmaking, the organised have said.“Although the event was recently postponed to November,” says event director Evan Schiff, “we recognise that the need for information, expert opinion and connection with ...

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Covid-19: PENGASSAN Suspends Strike

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it has suspended the planned strike by its members following the release of its members who were arrested by the Rivers State government for violating the lockdown executive order in the State. According to PENGASSAN, members of the Association were instructed to withdraw all forms of services relating ...

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NCDMB Slashes Interest on NCI Fund

Development and Monitoring Board (NCDMB) says it has reduced the interest rate for beneficiaries of loans under the Nigerian Content Intervention (NCI) Fund from eight to six percent per annum. The board says it has also extended the loans moratorium and tenure effective from April 1. Mr Simbi Wabote, Executive Secretary, NCDMB, said on Saturday in Lagos that the move ...

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NPA Suspends all Demurrage Charges

As a result of the recent lockdown announced by President Muhammadu Buhari on Sunday, April 12, 2020, the management of  Nigerian Ports Authority (NPA) has directed all Terminal operators to extend the suspension of all applicable terminal storage fees on consignments(demurrage)for another fourteen days effective April 13, 2020.  A statement issued by Jatto A Adams, General Manager, Corporate and Strategic ...

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PMS: PPPRA should Review Price Modulation Policy-Expert

An industry expert, in the down stream petroleum sector, Ms Ronke Onadeko, has said that the Petroleum Products Pricing Regulatory Agency (PPPRA), should review the policy on fuel pricing modulation in the country. Onadeko gave the advice at a virtual workshop for journalists on the oil sector reforms in Abuja. The Agency had adopted a monthly pricing modulation style that ...

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