The Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC), Monday, signed five agreements for the construction of a gas processing plant with an initial capacity of 300 million standard cubic feet per day of gas (MMSCFD). The NNPC, in a statement in Abuja, said the agreements would expedite the development of a project aimed at…
As Nigeria celebrates the successful anchor of Egina FPSO, a major breakthrough in Nigerian Content policy, the Shell Nigeria Exploration & Production Company, SNEPCo, recently hinted on an ongoing collaboration with the Lagos Deep Offshore Logistics (LADOL), the operators of the Lagos free trade zone in the construction of a new Floating Production Storage and Offloading,…
By Margaret Nongo-Okojokwu Says govt won’t permit monopoly in maritime, oil sector Acting President, Yemi Osinbajo (fifth right); with Deputy Managing Director, Total (E&P), Musa Kida (left); Managing Director, Nigerian Ports Authority (NPA), Hadiza Usman; Chairman, LADOL, Ladi Jadesimi; HMoS (Trade & Investment), Aishat Abubakar; Chairman/CEO, Inter Energy Services, Dr. Duran Fawibe; Managing…
The Benin Electricity Distribution Company Plc has described the nation’s power grid as highly unstable, with over 2,000 outages and interruptions recorded in its network coverage area of Delta, Edo, Ekiti and Ondo states between January and July. The Managing Director/Chief Executive Officer, BEDC, Mrs Funke Osibodu, disclosed this during a media briefing in Benin,…
The Manufacturers Association of Nigeria (MAN) has asked the Federal Government to intervene in the ongoing debt disagreements between the electricity distribution companies (DISCOs) and manufacturers to enable them access the stranded 2,000 mega watts of electricity. Making the call in Lagos, during the week, MAN President Dr Frank Jacobs said the condition given by…
Nigeria Customs Service has disclosed that about 12.2 millions of local rice farmers are being affected by the continuous smuggling of foreign parboiled rice into the country The immediate past Controller, Federal Operations Unit, Zone ‘A’ of the NCS, Comptroller Muhammed Uba, made disclosure in Lagos while displaying some seizures of rice impounded by the…
Nigeria’s electricity grid is still witnessing system collapse as it recorded total failure twice in the last two months. Figures obtained from the Federal Ministry of Power, Works and Housing in Abuja on Thursday showed that the system collapsed once in June and it recorded another in July. In first month under review, the country’s…
The Nigeria Sovereign Investment Authority (NSIA) on Thursday said it paid about $417.46 million to the country’s electricity bulk trader, the Nigeria Bulk Energy Trading Company Plc (NBET). This, it said, is contrary to allegations by the Association of Electricity Distributors Investors (AEDI) and the Association of Nigerian Electricity Distributors (ANED) that the Ministry of…
The highest amount of revenue losses in Nigeria’s power sector come from areas that have high concentration of unmetered electricity consumers. It was also gathered that about 70 per cent of revenue losses recorded by power distribution companies were from these areas. The Executive Director, Association of Nigerian Electricity Distributors, Sunday Oduntan, and the Managing…
The Managing Director/Chief Executive Officer, Momas Electricity Meters Manufacturing Company Limited (MEMMCOL), Kola Balogun, said the new regulation on metering – Meter Asset Providers (MAPs) would eliminate estimated billing, attract private investment into the metering services sector and close the metering gap through accelerated meter rollout in the power sector. He said: “The metering regulation…
