Category: Energy

Ɗangote Refinery’ll raise Nigeria’s GDP to $322bn by 2025 — Report

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Ɗangote Refinery on GDP

…Refinery to get 400,000 bpd Ɗangote Oil Refinery will raise Nigeria’s Gross Domestic Product (GDP)to $322bn by 2025, according to a new report. The report, titled: ‘Impact of Dangote Refinery on the Nigerian Economy’, which was released recently by Data Services & Resources Ltd, indicated that without the refinery, Nigeria’s GDP was expected to grow by 3.34 percent in 2024, increasing to 4.13& by 2030. It noted that with the refinery in operation, GDP growth was projected to rise to 4.15% in 2024 and reach 6.21% by 2030. The report…

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FG begins talk with Libya for regional gas pipeline project construction

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FG Libya talks

The Federal Government has commenced discussion with the north African country, Libya, for a gas pipeline construction project between both country. This was hinted by the Minister of Petroleum (Gas), Ekperikpe Ekpo, while meeting with the Libya’s Minister of Oil, Dr. Khalifa Abdu-Alsadiq, on the sidelines of the Gastech Exhibition and Conference 2024 holding in Houston, USA. Taking to his X handle, Ekpo said the potential gas pipeline would begin from Nigeria to Libya.According to him, this strategic meeting aims to strengthen energy cooperation between the two nations The discussion…

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NNPCL/Ɗangote: Coalition of Energy Lawyers alleges plot to frustrate Nigerian local refineries

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Energy Lawyers Coalition

The Coalition of Energy Reforms Lawyers and Activists, (CERLA), has alleged a plot by the Nigerian National Petroleum Company Limited, (NNPCL) to frustrate local refineries. At a press conference in Abuja yesterday, the Coalition alleged that the NNPCL was not being transparent in its deal with the Dangote refinery. There has been confusion over the price of Premium Motor Spirit, (PMS), better known as petrol, purchased by the NNPCL from the Ɗangote Refinery. Recall that NNPCL had claimed it loaded over 70 trucks from Ɗangote Refinery at N898 per litre.…

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Tinubu names Amachree as Director, Energy Security

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Director Amachree

President Tinubu appoints Wike’s ally, Ojukaye Amachree, as the new Director of Energy Security Directorate within the Office of the National Security Adviser (ONSA). According to a statement by ONSA’s Head of Strategic Communications, Zakari Mijinyawa, Amachree’s appointment was part of the government’s commitment to ensuring a stable, sustainable, and secure energy supply for all Nigerians. The Energy Security Directorate, a newly created unit in ONSA, is tasked with coordinating policies, protecting critical infrastructure, managing data, providing security coordination, offering risk advisory services, and building strategic alliances within Nigeria’s energy…

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FG unveils new electricity policy

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Electricity grid

The Federal Government, on Tuesday, unveiled the draft of the National Integrated Electricity Policy and Strategic Implementation Plan, (NIEP-SIP). The policy aims to address the pressing challenges within the Nigerian Electricity Supply Industry and set the nation on a path toward a robust, sustainable, and inclusive power sector. Speaking at the presentation event yesterday in Abuja, the Minister of Power, Adebayo Adelabu, described the policy as “critical in our nation’s journey toward achieving a robust, sustainable, and inclusive power sector that meets the aspirations of all Nigerians”. The NIEP-SIP is…

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MTN Nigeria others get permits to generate electricity

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MTN to generate electricity

The Nigerian Electricity Regulatory Commission, (NERC), has issued permits to Golden Penny Power Limited, MTN Communications Nigeria Ltd and others for mini-grid electricity generation. The NERC said it issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and three new trading licences. According to a report by the Commission, Golden Penny Power Ltd got a licence to build six off-grid gas plants in Lagos, Oyo, Ogun, and Cross River States. The total capacity is 100MWs. Also, MTN Nigeria was granted…

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Just In! MTN, others get permits to generate electricity in Nigeria

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MTN(0)

The Nigerian Electricity Regulatory Commission, (NERC), has issued permits to MTN Communications Nigeria Limited, Golden Penny Power Limited, Havenhill Synergy, and others for mini-grid electricity generation. According to the Commission, it issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and three new trading licences. The NERC said that the MTN was granted a permit to build four captive generation plants across Lagos State with 15.94MW capacity. Aside from MTN, SweetCo Foods Limited, African Steel Mills Nigeria Limited, West African…

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Ɗangote/NNPC rift: Nigeria’s petrol import from Malta jumps 43 times to $2.08bn

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Nigeria’s petrol import

Nigeria’s importation of petroleum from Malta has skyrocketed 43 folds, amounting to $2.08 billion in 2023, a development amidst the ongoing rift between the Ɗangote Group and the Nigerian National Petroleum Company Limited, (NNPCL). Data sourced from Trade Map, a global database on international trade statistics showed Nigeria imported petroleum oils and oils obtained from bituminous minerals worth $ 2.8 billion in 2023, a 342% increase, from $47.5 million as of 2013. Between 2013 and 2016, import values fluctuated. There was a peak in 2015 at $117.01 million, followed by…

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Again, National Grid suffers another major collapse

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National Grid collapse

…Worsens FG’s 20hr power target Nigeria’s National grid has suffered yet another collapse of this year, leading to a significant drop in electricity generation to just 0.80 megawatts, (MWs). The power grid collapse, the fourth time in 2024, is occurring amid ongoing furore over the hike in electricity tariff for premium consumers. The electricity grid, on February 4, collapsed for the first time in 2024. Also, the country suffered another nationwide blackout following the collapse of the National Grid on March 28, and again on April 15. While the Federal Government…

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Senate Investigates Mambilla Hydro-electric Power Project

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Senate chambers

…Passes North-Central Development Commission bill Mambilla hydro power projectThe Senate has launched an investigation into transactions in the Mambilla Hydroelectric Power Project from 1999 till date. The resolution was adopted yesterday, after a Motion moved Senator Manu Haruna, representing Taraba-Central in the Senate, on the urgent need to address the challenges of commencing the project. Lawmakers highlighted the failure of previous governments to prioritise the national project with its capacity to generate 3050 megawatts, and reposition the Ajaokuta Steel Complex with $1.7bn. The upper chamber also resolved that in reviving…

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