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Nigeria’s oil production cost down to $23/barrel

The Nigerian National Petroleum Corporation (NNPC) has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel representing 70.5 per cent reduction.

TCN raises $1.55bn for grid expansion

IN a bid to ensure grid expansion, the Transmission Company of Nigeria (TCN) yesterday, disclosed that it had been able to raise a sum of $1.55billion from multilateral donors.

Electricity consumers can pay for meters – minister

The Federal Government has said that it will not oppose the wishes of electricity consumers that are willing to pay for meters from their distribution companies based on agreement between both parties as endorsed by the power sector regulator.

Chinese banks begin oil, gas projects financing in Nigeria

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Makaiinti Baru, has said that Chinese banks has made commitments to bring more money to finance oil and gas investments in Nigeria.

Power generation hits 6800mw – Fashola

The Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), on Monday, in Kano State, disclosed that Nigeria’s power generation capacity as at August 10 stood at 6683 megawatts.

Stop sending ‘crazy bills’ to customers – Fashola tells DISCOs

Minister of Power, Works and Housing, Babatunde Raji Fashola, has warned electricity distribution companies to desist from estimated billing.

Power generation now beyond Discos’ capacity – Fashola

Babatunde Fashola, minister of works, power and housing, says the power being generated is higher than the carrying capacity of electricity distribution companies.

Fed govt dangles new incentives for 55 modular refinery licensees

The Federal Government at the weekend declared new incentives for any of the 55 licensed modular refineries in the country that scale the hurdles to begin production before the end of 2019.

Minister gives condition for establishment of mini grids

Minister of Power, Works and Housing, Babatunde Fashola, has given details of requirements for the establishment of mini grids to be met by potential investors as he launched the mini grid regulations.

TCN secures $1.55bn from multilateral corporations to expand transmission lines

The Transmission Company of Nigeria (TCN) says it has secured 1.55 billion dollars from multilateral corporations to finance its transmission expansion projects in the country.

No plan to increase petrol price now – NNPC

The Nigerian National Petroleum Corporation and marketers in the downstream oil sector have said there are no immediate plans to increase the pump price of Premium Motor Spirit.

Fed govt approves N39bn loan for DISCOs for supply of meters

The Federal Government has approved N39 billion loan to Electricity Distribution Companies (DISCOs) for the supply of meters, Minister of Power, Works and Housing, Babatunde Fashola, has disclosed.

Fed govt gives states autonomy to produce power

The Federal Government has given state governments autonomy to produce their own power in order to ensure improved power supply in the country.

Shell faults facility shutdown in Rivers, says we’re not the govt

Shell Petroleum Development Company (SPDC) has stated that the company is not the government and therefore does not have the resources to solve world hunger.

Fed govt strips DisCos off metering monopoly

The Federal Government also stated that electricity distribution companies did not have the monopoly of metering.


Recent Posts

Kachikwu decries high cost of oil production at $32 per barrel

The Minister of Petroleum Resources, Dr Emmanuel Ibe Kachikwu, has decried the high cost of oil production at 32 dollars per barrel, saying it makes cost of Foreign Direct Investment (FDI) very expensive.

Another Nigerian killed by South African policemen

The Nigerian Union in South Africa on Thursday said that another Nigerian, Mr Uchenna Eloh, has been killed in the Western Cape Province of that country.

Fed govt transfers ownership of Marina presidential lodge to Lagos govt

The Federal Government today, officially handed over the ownership of the sprawling Presidential Lodge in the Marina, to Lagos State Government.

Donald Trump slams removal of Confederate statues

Donald Trump has said US history and culture is being "ripped apart" by the removal of statues.

Cooking gas price drops by 30 percent

The price of Liquefied Petroleum Gas (LPG), otherwise called cooking gas, has dropped by 30 percent from N400 per kilogram (kg) in May to N280 per kg currently.

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Kwara won’t use card readers for council polls – KWASEIC

The Kwara lndependent Electoral Commission on Friday said it would not use card readers for the forthcoming council polls in the state.

Protesting Shi’ites demand fed govt to release El-Zakzaky or kill them all

Members of the Islamic Movement of Nigeria, IMN, otherwise called Shi’ites has blocked all the major highways in Kaduna metropolis in protest, requesting the Federal Government to release their leader, Shiekh Ibrahim El-Zakzaky, or kill all of them.

Why we dropped Mbappe – Monaco

Monaco coach Leonardo Jardim has claimed that star striker Kylian Mbappe was left on the bench last weekend “to protect him” rather than as a punishment.

Sokoto assembly impeaches deputy leader

The Sokoto State House of Assembly says it has impeached its Deputy Leader, Alhaji Kabiru Ibrahim (APC-Kware), following a no-confidence vote passed by members.

Nigeria going the way of Rwanda, DRC – Ezekwesili

“The obsession with politics is a divisionary strategy of the ruling class every time which favours the rapacious elite to distract the suffering mass with politics,” she said.