Nigeria’s electricity distribution companies (DisCos) recorded N45.61 billion as revenue losses in February 2026 due to collection inefficiencies. According to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC), 11 DisCos collected a total of N196.68 billion in revenue in February. The report indicates that the total energy billed to customers …
Domestic refineries in Nigeria recorded a crude oil supply shortfall of 33.4 million barrels in the first quarter (Q1) of 2026. According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday, May 5, a total of 61.9 million barrels of crude oil was allocated to domestic refineries during the quarter under …
The exit of the United Arab Emirates (UAE) from the Organisation of Petroleum Exporting Countries (OPEC) has raised concerns about its impact on global energy markets, especially for oil-dependent economies like Nigeria. While the UAE’s move is largely informed by its shift toward expanding production capacity and diversifying its economy, analysts say the implications could …
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant financial performance for March 2026, reporting a Profit After Tax (PAT) of ₦276 billion. The company also recorded an increase in oil and gas production within the period. According to the NNPC Limited Monthly Report Summary for March 2026 released on Monday, the national …
Residents of some parts of Lagos have been grappling with power outages in the last 48 hours following the shut down of the Egbin Power Station. The facility, located in the Ikorodu area of Lagos has an installed capacity of 1,3000 megawatts and supplies significant power to the national grid. According to a statement released …
President Bola Ahmed Tinubu has nominated Mr. Joseph Olasunkanmi Tegbe as Nigeria’s new Minister of Power, pending his confirmation by the Senate. The nomination was officially transmitted to the upper legislative chamber in line with constitutional requirements. The appointment fills the vacancy left by former Minister Adebayo Adelabu, who resigned recently to join the governorship …
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has been unveiled as one of Africa’s top aviation leaders. The unveiling was done during a special session at the IATA Focus Africa Conference organised by the International Air Transport Association in Addis Ababa, Ethiopia. IATA’s Regional Vice President for Africa and the Middle East, Kamil …
NESCAFÉ, Nestlé Nigeria’s coffee brand, has launched its nationwide ‘Next Level Promo’, a three-month initiative designed to reward Nigerian consumers with over ₦80 million in cash and career-boosting prizes. Running from April through June 2026, the campaign aims to provide more than just a caffeine kick; it’s offering the tools for consumers to take their …
Nigeria National Petroleum Company Limited (NNPC) has announced the completion of the River Niger crossing of the Obiafu-Obirikom-Oben (OB3) gas pipeline, a project that will unlock a transport capacity of 2 billion standard cubic feet per day (2bcf/d) of gas. NNPC GCEO, Bayo Ojulari, made this known in a statement posted on his X handle on Thursday, …
President Bola Ahmed Tinubu has removed Mr. Saidu Mohammed from his position as Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The President has also nominated Mr. Rabiu Abdullahi Umar to take over as the new Chief Executive of the agency. The appointment, however, is subject to confirmation by the …
