Industry News

NIMASA opens BEAP portal, remove restrictions
The Nigerian Maritime Administration and Safety Agency (NIMASA) has widened the search for home-grown solutions to Nigeria’s maritime and blue economy challenges, Read more…

Oando faces shutdown threat over prolonged Azuzuama gas leak
Oando Plc is facing a potential shutdown threat in Azuzuama, Southern Ijaw Local Government Area of Bayelsa State, following a warning by the Ijaw Youth Council, Read more…

NLC gives Fed Govt two-week ultimatum to cut petrol price, renegotiate minimum wage
The Nigeria Labour Congress has issued the Federal Government a two-week ultimatum to reduce the price of petrol, commence renegotiation of the national minimum wage Read more…

NMDPRA seals two filling stations for alleged fuel under-dispensing
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed two filling stations in Port Harcourt, the Rivers State capital, Read more…

Fed Govt offers cost of living relief with petrol price cap
For millions of Nigerians who have watched transportation costs climb, the prospect of cheaper petrol offers some relief. Read more…

How to rejig ‘moribund refineries’, by chemical engineers
The Federal Government has been urged to adopt ‘’a transparent, competitive and time-bound privatization’’ for its refineries. Read more…

AELEX advises on historic $1.5b Dangote Refinery IPO
Dangote Petroleum Refinery & Petrochemicals FZE’s approximately US$1.5 billion Initial Public Offering (IPO) has been described as a landmark transaction for Nigeria’s capital markets Read more… Read more…

Kukah, ex-power minister Nnaji unveil plan to power millions
Bishop of Sokoto Matthew Kukah and former Minister of Power Prof. Bart Nnaji have unveiled an ambitious enterprise initiative to provide electricity, Read more…

FG to review $1.3bn Zungeru Power Project
The Federal Government has launched a regulatory review of the $1.3 billion Zungeru Hydropower Project to determine why the 700-megawatt (MW) plant is currently producing only about 350MW for the National Grid. Read more… Read more…

Nigeria’s 30-Day Petrol Discount Faces Opposition Backlash as Experts Warn of Hidden Subsidy Risks
The Federal Government’s decision to introduce a 30-day petrol discount has drawn criticism from opposition political parties and presidential campaign organizations, Read more… Read more…

Osun senator installs 1,500 solar lights, empowers 600 artisans
The Deputy Minority Leader of the Senate, Lere Oyewumi, has installed 1,500 solar-powered street lights and provided N50,000 cash grants to 600 artisans Read more…

Lagos customers endure outages as Band A feeders fail
Lagos electricity customers endured poor power supply in August as several Band A feeders failed to meet the minimum service level, with some recording zero hours of supply, Read more..

Labour gives FG two weeks to cut petrol prices
The Nigeria Labour Congress has given the Federal Government two weeks to reduce the price of petrol, begin renegotiating the national minimum wage and resolve outstanding agreements with workers, Read more…

NUPRC targets 788,000bpd shut-in crude for recovery
The Nigerian Upstream Petroleum Regulatory Commission has said it is targeting the recovery of more than 788,000 barrels of crude oil per day from shut-in production, Read more…

NRGI urges NNPC to reassess oil investment strategy
The Nigerian National Petroleum Company Limited has been warned that continuing with a business-as-usual approach to oil and gas investments could expose Nigeria to growing fiscal, Read more…

Edo Diaspora group carpets Dokubo over N2.7trn pipeline surveillance claim
The Edo in Diaspora Media Group, Thursday, challenged former Niger Delta militant, Asari Dokubo, to provide evidence of an alleged annual payment of N2.7 trillion to Mr. Osahon Okunbo, Read more…

NNPC discount measure for petrol pump price has Tinubu’s backing – Presidency
The Presidency on Thursday explained that the measure taken by the Nigerian National Petroleum Company Limited (NNPCL) to forgo its petrol retail profit margin Read more…

Brent Holds Above $100 as Hormuz Tanker Traffic Hits Two-Month Low
Crude oil prices were on course to book a weekly gain earlier today amid a flurry of tanker attacks in the Strait of Hormuz—and outside it, too. Read more…

World’s Top Crude Trader Isn’t Ruling Out $200 Oil Just Yet
Ship-to-ship transfers in the Gulf of Oman that keep oil flowing from the Middle East provide a lifeline to Gulf producers and to the oil market, according to Russell Hardy, Read more…

Equinor Finds Up to 10.3 Million Barrels of Oil Equivalent at Gullfaks South
Equinor and its partners have discovered an estimated 3.3 million to 10.3 million barrels of recoverable oil equivalent in gas at Norway’s Gullfaks South field, Read more…

Kinder Morgan Restores U.S.-Mexico Gas Flows After Pipeline Outage
Kinder Morgan has lifted force majeure on its Tennessee Gas Pipeline after repairs restored natural gas deliveries to Mexico that had been interrupted earlier this week. Read more…

Transmission towers collapse at Nasarawa substations
The Transmission Company of Nigeria (TCN) has announced the collapse of towers T78, T79 and T80 along the Karu-Keffi-Akwanga 132 Kilo Volt (kV) line corridor in Nasarawa State following heavy rainfall. Read more…

Hike in fuel prices: FG rejects subsidy return, targets N1,350 per litre ceiling
The Federal Government has rejected calls to restore fuel subsidy, saying such a move could worsen prices and destabilise the economy. Read more…