Category: Energy

Electricity: Dangote Refinery’s power-generation surpasses Nigeria’s 11yrs capacity growth

Aminu Imam
Dangote electricity

?angote Refinery has exceeded Nigeria’s electricity generation growth over the past decade. While Nigeria’s grid added just 760 megawatts in eleven years, ?angote’s refinery quickly produced 1,500 megawatts (MWs) independently. Despite Nigeria’s potential to generate 13,000 MWs, its aging infrastructure currently delivers only 4,160 MWs on average, a modest increase from 3,400 MWs in 2013. UGC Data obtained from the Nigeria Electricity System Operator demonstrated that, as of June 12, 2024, the average generation of 4,160 MWs had increased by 22%, from an average of 3,400 MWs in November 2013…

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Nigeria losing 400,000 barrels of crude oil daily — Report

Aminu Imam
Crude oil lifting

…?Conspiracy by industry regulators, security agencies fingered Reports have indicated that Nigeria government’s efforts to curtail crude oil theft in the oil producing region has failed to yield the desired results as loses increased from 100,000 barrels/day in 2013 to 400,000 barrels/day in 2023. According to the report, which was  released at the weekend, is a production of several months of deep investigation carried out by public policy firm, Nextier. The report, authored by Ben Nwosu, an associate consultant at Nextier and a senior research fellow at the Institute for…

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‘Ten national power plants operating at 10% capacity’ – Adelabu

Aminu Imam
Power Plant

Minister of Power, Adebayo Adelabu, has revealed that ten power plants in Nigeria are operating below 10 percent, talking to the infrastructural challenges in the sector. Adelabu made this statement at the BusinessDay Conference, in Lagos, with the theme: “Powering Nigeria’s Energy Future: Addressing Infrastructural Challenges for Sustainable Energy Development”. He expressed surprise at the under-utilisation of the facilities, which he said have the potential to generate significantly more electricity. The Minister identified two key factors limiting power generation: low gas supply and unpaid debts. Gas shortages prevent plants from…

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NNPC to start oil exploration in Ogun – Govt.

Aminu Imam
Ogun Govt

Ogun State Government has disclosed  that the Nigerian National Petroleum Company Limited (NNPCL) is set to begin oil and gas exploration in the State. In an issued statement on Friday, the State government said the development would make its quest to become an oil-producing State materialise soon. The statement noted that stakeholders in the oil and gas industry were received at the office of  Ogun State Governor, Dapo Abiodun, and his Deputy, Noimot Salako-Oyedele, to discuss the prospect. Speaking at the meeting, Minister of State for Petroleum Resources (Oil),  Heineken…

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FG secures $500m World Bank loan to boost DisCos

Aminu Imam
W'Bank loan

The Federal Government has secured $500million loan from the World Bank to improve electricity Distribution Companies (DisCos) performance. This was disclosed in a press statement issued yesterday by the Bureau of Public Enterprises (BPE)’s Head, Public Communication, Amina Tukur Othman. She said, approved on February 4, 2021, by the World Bank Board of Directors, this funding supports the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos. The Distribution Sector Recovery Programme, (DISREP), said the Head of Public Communications, is designed to…

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?’?Prices of rice, garri, other food items and Kerosene rose in April 2024′ -  NBS

Aminu Imam
NBS on rising prices

National Bureau of Statistics  (NBS) says prices of rice, garri, tomato, beans, yam and other food items as well as kerosene increased in April 2024. The NBS said this in its ‘Selected Food Prices Watch‘ report for April 2024, released in Abuja yesterday. The report said that the average price of one kilogramme of local rice increased by 155.93 percent, from N546.76 recorded in April 2023 to N1,399.34 in April 2024. On a month-on-month basis, 1kg of local rice increased by 3.47% in April from the N1,340.74 recorded in March…

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Policy Summersault: ‘Transfer of electricity regulatory oversight to States continues’ – FG  

Aminu Imam
Electricity

The Federal Government has back-tracked on halting the transfer of electricity regulatory oversight to State Governments. Minister of Power, Adebayo Adelabu, revealed the FG’s policy summersault at the two-day stakeholders workshop organised by the Nigerian Electricity Regulatory Commission, (NERC), in Lagos. The workshop on the implementation of the Electricity Act had in attendance the 36 State Commissioners of Energy and Power. The Minister’s statement comes a few days after he announced plans to halt the transfer of regulatory autonomy to States and conduct a test phase with a few States.…

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Nigeria tops Africa’s oil production, with 1.28m bpd in April

Aminu Imam
Nigeria oil production

The Organisation of Petroleum Exporting Countries (OPEC) has said Nigeria’s average daily crude oil production increased to 1.28 million barrels per day (bpd) in April. This was contained in its latest monthly oil market report, released on Tuesday. OPEC gathers data on crude oil production from two sources: direct communication from member countries and secondary communication, such as energy intelligence platforms. The report indicates that Nigeria’s current output marks a 4.07 percent increase from the 1.23 million bpd recorded in March, representing the first month-on-month production growth in the year.…

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CBN names 11 pre-shipment agents for crude oil, gas exports

Aminu Imam
advisors reports 1

Eleven pre-shipment monitoring and evaluation agents have been designated by the Central Bank of Nigeria (CBN) for Nigerian oil and gas exports. The appointment was announced by the Director, Trade and Exchange Department of the apex bank, in a circular dated May 13, 2024, and it took immediate effect. According to the circular, there would be 9 pre-shipment inspection agents and two monitoring and evaluation agents. The list of the nine Pre-Shipment Inspection Agents from the circular are: Neroli Technologies Limited: Qua Iboe, Forcados, and Bonny; Holborn Oil and Gas…

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NERC unbundles TCN, establishes new operator

Aminu Imam
NERC

The Nigerian Electricity Regulatory Commission, (NERC), has restructured the Transmission Company of Nigeria, (TCN), by establishing the Nigerian Independent System Operator of Nigeria Limited, (NISO). This development was announced in an order signed by the  Commission’s Chairman, Sanusi Garba and Vice-Chairman, Muslim Oseni, in Abuja yesterday. This is coming almost four years after the company said it was consulting stakeholders as it moves to implement the unbundling of the TCN into two entities. The company said all market and system operation responsibilities will be transferred from TCN to the newly…

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