AS the Federal Government of Nigeria considers deployment of mini-grids for Rural Electrification (RE), experts said RE can improve quality of life by increasing economic activity necessary for rural economic development.

More tank firms are running out of petroleum products in Apapa area of Lagos as a result of the lingering problem of foreign exchange scarcity.

The federal government and power investors, electricity distribution companies (DISCOs) and electricity generation companies, (GENCOs), may be heading for a showdown over the government’s non-fulfilment of the various agreements reached at the inception of power privatisation three years ago.

NIGERIAN Content Development and Monitoring Board, NCDMB, said it is targeting a six-month timeline for contracting cycle. Executive Secretary of the Board, Simbi Wabote, said such strict timeline is part of new measures to shorten the protracted contracting cycle in the oil and gas industry and revitalize the implementation of Nigerian Content. Prior to this, contracting cycle had elongated between two to four years, causing huge frustration amongst investors in the sector.

NIGERIA’s offshore rig count from June till September has reduced to seven from 11 recorded as at end first half 2016, H1’16, indicating that four rigs were shut down in third quarter, Q3’16, Baker Hughes, global oil industry data and information company stated in its oil data report.