Electricity Act (Amendment) 2024: GenCos to set aside 5% for host community development
Oredola Adeola The Electricity Act (Amendment), 2024, mandating 5 percent of the actual annual operating expenditures of electricity generation companies (GENCOs) from the preceding year be allocated for the…
Local Content: Senate Committee to summon IOCs, agencies for economic diversification beyond crude oil
Oredola Adeola The Natasha Akpoti-Uduaghan-led Senate Committee on Local Content is set to summon international oil companies and relevant government agencies to ensure they contribute significantly to the…
NERC sanctions 11 DisCos over non-compliance with capping of estimated bills for unmetered customers
Oredola Adeola The Nigerian Electricity Regulatory Commission (NERC) has placed a heavy sanction on all eleven electricity Distribution Companies (DisCos) with a total fine of N10.5 billion for failing…
FG proposes settling domestic gas in Naira to tackle frequent power outages
Oredola Adeola The Nigerian government has taken a strategic step to address a critical gas supply shortage threatening the operation of electricity generation companies (GenCos) with the proposal before…
Oyedele fiscal policy Committee teams up with NEITI to drive oil, gas, extractive industry transparency
Oredola Adeola The Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) has agreed to partner with the Nigeria Extractive Industries Transparency Initiative (NEITI) to leverage the findings…
NLC, TUC give FG 14 days to lessen economic impact of fuel price hike, Naira devaluation
Oredola Adeola Following the Federal Government's failure to implement the 16-point agreement agreed on October 2, 2023, the Nigeria Labour Congress and the Trade Union Congress have given…
NNPC Ltd. finally agrees to CBN oversight of oil sales revenue
Oredola Adeola The Nigerian National Petroleum Company Limited (NNPC Ltd.) has agreed to the Federal Government's directive for the Central Bank of Nigeria (CBN) to oversee the management…
Court orders Tinubu to regulate petroleum products, essential goods within seven days
Oredola Adeola The Federal High Court in Lagos has issued a directive to the administration of President Bola Tinubu to regulate the prices of Premium Motor Spirit (petrol), Diesel,…
NNPCL, TotalEnergies, partners commence oil production from Akpo West Field, add 14,000bpd to Nigeria’s output
The Nigerian National Petroleum Company Limited (NNPC Ltd.) TotalEnergies and partners have commenced crude oil production from the Akpo West Field, adding about 14,000 barrels per day of condensate to…
NSIA, UK FCDO, partners launch Green Guarantee Company, with $1bn guarantee to mobilize climate finance for developing countries
Oredola Adeola The world's first climate-focused guarantee company, the Green Guarantee Company (GGC), has been launched by the Nigeria Sovereign Investment Authority (NSIA) alongside the United Kingdom’s Foreign,…