The Petroleum Revenue Special Task Force led by Mallam Nuhu Ribadu, has promised to work closely with the Nigerian Extractive Industries Transparency Initiative, NEITI, to expose corruption in the nation’s oil and gas industry.

Worried by the huge debt owed the Power Holding Company of Nigeria, PHCN, and the company’s inability to meet its basic obligations to key suppliers, the Minister of Power, Prof. Bart Nnaji, has summoned the chief executives of the 11 distribution companies created out of the state-owned power utility.

The Federal Government Sovereign Oil & Gas Company II, LLC has received approval of the farm-in by Oriental Energy Resources Limited of Nigeria into the Okwok Marginal Field located in Oil Mining Lease, OML 67, which is owned by Mobil Producing Nigeria Unlimited, a subsidiary of ExxonMobil Corporation, and the Nigerian National Petroleum Corporation.

…as Ukraine seeks investment in power generation in Nigeria
The Federal Government said it was very committed to investing in the development of renewable energy as alternative source of power to complement the existing thermal and hydro power plants in energy generation in the country, even as efforts are on to resuscitate ailing power infrastructure and bring them to operate at installed capacities.

Nigeria is in dire need of Infrastructure renewal, upgrading, modernisation and expansion. Of all the infrastructural facilities in need of radical development, electricity stands out. The quantum of power consumed in a country by the citizens is considered a good indicator of the country’s socio-economic performance.”