As the Federal Government moves to phase out electricity subsidies by 2027 and adopt fully cost-reflective tariffs, there are concerns about the potential impact on Nigerian consumers who are already grappling with rising cost of living. Recently, the Minister of Power, Joseph Tegbe, spoke at a media briefing in Lagos, where he announced that the …
In a major crackdown on infrastructure vandalism, the Lagos State Government has arrested 27 suspected hoodlums for allegedly removing critical structural components under the bridge linking Festac Town to Alakija along the Lagos-Badagry Transnational Highway. The bridge was said to have been constructed five years ago. According to a statement by the Commissioner for Environment …
The Nigerian Electricity Regulatory Commission (NERC), has organised a sensitisation workshop for the South East on addressing the persisting challenge of vandalism crippling the nation's power sector. The workshop, which was held in Umuahia, Abia State, on Tuesday, was done in collaboration with the German development agency (GIZ) through the Nigerian Energy Support Programme (NESP). …
Despite recording an increase in metering rate, over 5 million electricity customers remain unmetered across Nigeria. According to the latest metering status report released by the Nigerian Electricity Regulatory Commission (NERC), the total number of metered customers across all electricity distribution companies (DisCos) reached 7,435,733, accounting for 59.5% of 12,457,068 active customers as of April …
Nigeria is set to attract between $30 billion and $50 billion in investment from 22 major offshore oil and gas projects scheduled to launch between 2026 and 2030. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, stated this in Lagos on Wednesday, August 5, 2026, at the Society of Petroleum Engineers’ Nigeria Annual International Conference …
Nigerian electricity distribution companies (DisCos) recorded a significant revenue shortfall in May 2026. According to the latest Commercial Performance factsheet released by the Nigerian Electricity Regulatory Commission (NERC), the combined shortfall between what was billed and what was actually collected by DisCos amounted to ₦44.72 billion. This financial gap is the result of several operational …
Dangote Refinery has announced further cut in the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel), signalling relief to consumers as competition intensifies in the domestic downstream petroleum market. According to a post on the company’s social media handle on Wednesday, August 5, the refinery’s ex- …
Nigeria’s foreign exchange market recorded a significant boost in July, as total forex inflows climbed to a five-month high of $4.36 billion, driven largely by aggressive Central Bank interventions and a remarkable surge in domestic participation. According to the latest data released by FMDQ, this represents a 31.9 per cent month-on-month increase from the $3.31 …
Dangote Refinery is targeting October 2026 for a landmark listing in the stock market to raise $5 billion through an initial public offering (IPO) to finance the expansion of the facility in Lagos. According to a report by Reuters, if approved and completed, the public offering will be one of the largest equity raises in …
Shell has signed a Sale and Purchase Agreement (SPA) with French energy major TotalEnergies for the sale of its European onshore renewables portfolio. In a statement released on Monday, August 3, the company said the deal represents the latest step in its strategy to streamline its power business and reallocate capital toward its core strengths …
