By Chioma Onuegbu, Uyo Akwa Ibom State government has dragged ExxonMobil to court over an attempt to sell off some of its assets without informing it as a critical partner about the intention to carry out such a major activity. ExxonMobil had recently informed the general public that it had reached an agreement to sell […]

By Obas Esiedesa Despite the N38 billion paid power generating companies, GENCOs, by the Nigerian Bulk Electricity Trading Plc, NBET, for December cycle and another N39 billion for January, the power supply situation in the country has not improved, as generation remains at low 2,054.70MW. Checks on the national grid performance by Vanguard showed that […]

By Obas Esiedesa, Abuja The Federal Government has said high-level cases of oil theft have become a threat to the country’s corporate and economic existence, with the industry now thinking of transporting crude oil from fields to export terminals by trucks. This is as it raised an alarm over the rising rate of crude oil […]

Oil Price: Bonny Light rise to $109.2 per barrel

Power generation now 3,522.80 MW

…Say factories shutting down By Obas Esiedesa, Abuja The Kwara/Kogi branch of the Manufacturers Association of Nigeria (MAN) has raised alarm over the skyrocketing price of diesel, saying it has become almost impossible for them to operate. The branch in a statement by its Chairman, Pharm. Bioku Rahmon, therefore, appealed to the Kwara State and […]

By Yinka Kolawole The ongoing energy crises characterized by high cost of diesel and epileptic power supply have added to the pain points of manufacturers pushing their energy cost well above 40 percent of total production costs. The Director-General, Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, who disclosed this in a chat with Vanguard, […]

Federal Government Wednesday admitted that it increased electricity tariff in February after a minor review.

The Minister of Power, Abubakar Aliyu, has said that the national grid, which collapsed twice in two days ago, has now been fully restored.

THE Organised Private Sector, OPS, Nigeria Labour Congress, NLC, the House of Representatives and analysts yesterday painted a gloomy picture of the economy, following the current energy crisis in the country.

Nigeria’s National Power Grid has collapsed again yesterday leaving the entire country without electricity supply.

As the energy crisis facing the country deepened at the weekend, power generation companies in Nigeria (GenCos) have attributed low electricity generation to the National Grid to the N1.644 trillion owed them by the Nigerian Bulk Electricity Trading Plc.

By Obas Esiedesa, Abuja The Federal Government has blamed the lack of investment in the oil and gas industry for Nigeria’s continuing failure to meet its 1.8 million barrels per day oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC). Nigeria’s production has stagnated around 1.4mbpd in the past 11 months […]

By Peter Duru, Makurdi The Jos Electricity Distribution Company, JED, has pledged to invest over N800million in Benue state to improve power supply in parts of the state. This came as Governor Samuel Ortom launched the National Mass Metering Scheme of JED in the state to ensure metering of all customers in the state. The […]

THE Managing Director/CEO, New Hampshire Capital Limited, Mr. Odion Omonfoman, has described the decision of the National Assembly, to amend the Constitution, thus allowing states to generate, transmit and distribute electricity in areas covered by the National grid, as an excellent development, capable of improving power supply nationwide.