Nigeria’s petrol prices have surged despite a recent 20.34% drop in the landing cost of Premium Motor Spirit (PMS) to N971.57 per litre, as revealed in the November 8, 2024, report from the Major Energy Marketers Association of Nigeria (MEMAN). The unexpected rise in pump prices has drawn sharp criticism […]
Energy
The Nigerian Electricity Regulatory Commission (NERC) has granted permits to various companies, including MTN Communications Nigeria Plc and Golden Penny Power Limited, to generate mini-grid electricity. This initiative is part of efforts to boost off-grid power solutions in the country. According to NERC’s report for the first quarter of 2024, […]
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a grave warning, predicting that the current scarcity of Premium Motor Spirit (PMS) may continue for up to two more weeks. The Public Relations Officer of IPMAN, Chinedu Ukadike, revealed this alarming news in response to the widespread shortage of […]
Indications suggest that domestic airlines operators could soon be slashing ticket prices for passengers, thanks to the forthcoming supply of aviation fuel, Jet A1, by Dangote Refinery. The recent years witnessed a continual surge in jet fuel costs, compelling indigenous carriers to hike ticket prices to sustain operations. On February […]
The National Union of Electricity Employees (NUEE) has issued a stern warning, declaring a looming nationwide blackout if the Nigerian Government does not reverse the recently approved electricity tariff increase. In a statement delivered by its acting General Secretary, Dominic Igwebike, NUEE directly informed the Minister of Power, Adebayo Adelabu, […]
Doctors and staff at the University College Hospital (UCH) in Ibadan, Oyo State, have implemented reduced work hours following the hospital’s admission of owing up to N495 million to the Ibadan Electricity Distribution Company (IBEDC). The outstanding debt led to the disconnection of the hospital from power supply, prompting the […]
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), a key Federal Government agency, has announced the adjustment of domestic base price and wholesale prices of natural gas for 2024. The new rates, unveiled by NMDPRA Chief Executive Farouk Ahmed, see an increase to $2.42 per metric million British thermal […]
Nigeria is on the brink of yet another fuel scarcity crisis as the Nigerian Association of Road Transport Owners (NARTO) has declared its intention to halt the transportation of petroleum products from Monday. The decision, announced by Yusuf Othman, the President of NARTO, emanates from the escalating operational costs experienced […]
The Dangote Refinery, which is the Africa’s largest petroleum refinery, has taken a bold step towards profitability by announcing plans to export its first two fuel cargoes. The news came after much anticipation from Nigerians who have been eagerly waiting for the refinery’s contribution to the Nigeria’s economy since its […]
In a bid to enhance electricity generation, transmission, distribution, trading, and system operations in Nigeria, the Federal Government, through the Nigerian Electricity Regulatory Commission (NERC), has recently granted 13 new licenses. These licenses cover various aspects of the power sector, including off-grid and embedded power generation, independent electricity distribution, and […]