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The Lagos Chamber of Commerce and Industry has said electricity distribution companies in the country need more investment in order to improve service delivery to consumers. The Transmission Company of Nigeria had last year called for the recapitalisation of the Discos, saying failure to do this might lead to the collapse of the power sector. The Discos, through the Association ...

The Nigerian Electricity Regulatory Commission is going ahead with plans to review power tariffs in July this year despite widespread resentments by the organised labour, consumer groups and other individuals. NERC had announced on April 26, 2021 that another tariff review for Nigeria’s 11 power distribution companies would hold in July, explaining that inflation, gas price, among others, had changed. ...

…….by Ibrahim Musa…….. The Nigerian National Petroleum Corporation (NNPC) has raked in about N267 billion on crude sales in the month of February 202. While production remains 1.42 million barrels per day in the first quarter of 2021, this was contained in a document presented to the Federation Account Allocation Committee (FAAC) at its April 2021 meeting. The value of ...

…….by Jenifer Dike……….The Nigerian Electricity Regulatory Commission (NERC) said that it has given approvals to both Ikeja and Eko DISCOs to invest N215.68 billion to upgrade their infrastructural faciliis to enable them improve on their services to costumers.According to NERC Ikeja Electric Plc is to invest the sum of N121.92 billion for infrastructure upgrade across its network within a period ...

…….by Abisoye Shola……… The ownership of Nigerian Liquefied Natural Gas, (NLNG), Ship Management Limited, (NSML) is now 84 percent that of Nigeria the management of the firm is saying that the process would complete 100 percent by end 2022. The process was aimed at total control of the organisation by Nigerians both organizations in the very near future. The Managing ...

It was a prestigious outing for the Nigerian National Petroleum Corporation (NNPC) as its Group Managing Director (GMD) Malam Mele Kyari and the Minister of State for Petroleum Resources, Chief Timipre Sylva. The two were conferred with honorary doctorate degrees from the Federal University of Agriculture, Makurdi. The honour done to Kyari and Sylva was also extended to Sen. Bola ...

Electricity consumer groups has kicked against the planned review of electricity tariffs for the 11 power Distribution Companies (DisCos) by the Nigerian Electricity Regulatory Commission (NERC). They maintained that there was no justification for any upward review of electricity tariffs due to the current economic realities and challenges being faced by Nigerians. The groups, the Energy Consumer Rights and Responsibilities ...

The Department of Petroleum Resources ( DPR) television programme has been scheduled to return on screen from today, Monday 3rd of May, 2021 on all Nigeria Television Authority ( NTA) channels, DSTV 251, STARTIMES 104 and GOTV, parts of African countries and Europe. Mr Paul osu, Head, Public Affairs of DPR made the disclosure in a statement on Monday in ...

……by James Ikenna….. ………Reinstated CEO Adeduntan resumes…………… The Central Bank of Nigeria (CBN) has said that First Bank of Nigeria (FBN) must recover the loans it gave to Honeywell Flour Mills within 48 hours. The Apex bank has also turned down the request by First Bank to restructure the loans it gave to Honeywell Flour Mills and subsequently directed the ...

Angola one of African’s OPEC members had signed a $5-billion memorandum of understanding ( MOU) with its neighbor to the east, Zambia, to study the construction of oil products and gas pipelines between the two countries. According to Angola’s Minister of Petroleum, Diamantino Azevedo, the feasibility studies could take two years. After they are completed, the two governments will take ...