Category: Energy
Major Power Outage Hits Lagos, Oyo as Transmission Towers Collapse
Lagos, Nigeria – Electricity supply to major parts of Southwest Nigeria has been severely disrupted after three critical transmission towers collapsed along the Ikeja West-Osogbo 330KV line, causing a 165-megawatt power deficit. Incident Details Impacted Areas The outage affects bulk power supply to:✔ Ikeja Electric (Lagos)✔ Eko Electric (Lagos)✔ Ibadan Electric (Oyo, Osun, Ogun, Kwara,…
NNPCL Prepares for Landmark Public Listing Amid Transparency Concerns
The Nigerian National Petroleum Company Limited (NNPCL) has entered the final stages of its long-anticipated transition to a publicly traded entity, announcing plans to list its shares on the capital market in compliance with the Petroleum Industry Act (PIA) 2021. The move, revealed Thursday by Chief Corporate Communications Officer Olufemi Soneye, marks a pivotal moment…
Gas Explosion at Abia Steel Plant Kills Two, Injures 12
Faulty valve blamed for blast as victims evacuated to Port Harcourt hospital Umuahala Obuzor, Abia State – A deadly gas explosion rocked the Inner Galaxy Steel Company in Ukwa West Local Government Area on Tuesday, leaving two dead and 12 others injured in what authorities have attributed to equipment failure. The Incident Eyewitnesses reported that…
Dangote Refinery Begins Jet Fuel Exports to U.S., Set to Lower Aviation Prices
The Federal Government, through the Nigerian National Petroleum Company Limited (NNPCL), has announced the commencement of jet fuel exports from the Dangote Refinery to the United States, a development expected to lower aviation fuel prices in North America ahead of the peak summer travel season. In a statement issued by refinery management and confirmed by…
FCT Communities Remain in Darkness for 11 Years as Electrification Project Lies Abandoned
For over a decade, residents of four rural communities in the Federal Capital Territory (FCT)—Gaba, Igu, Shere, and Kawu—have been left without electricity despite a government electrification project that began in 2013. Despite the installation of electrical poles, transformers, and 33KV cables, the project was abandoned midway, leaving the communities in perpetual darkness and frustration….
Court Rejects NNPC’s Bid to Strike Out Dangote’s N100 Billion Suit Over Fuel Import Licenses
A Federal High Court in Abuja has dismissed the Nigerian National Petroleum Company Limited’s (NNPC) request to strike out a N100 billion lawsuit filed by Dangote Refinery and Petrochemicals against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and seven other companies. The suit challenges the issuance of fuel import licenses to NNPC and…
Oil Sector Reforms Attract $17 Billion in Foreign Investment – NNPC
The Nigerian National Petroleum Company Limited (NNPC) has announced that reforms in the oil and gas sector, driven by the Petroleum Industry Act (PIA) 2021 and Executive Orders issued by President Bola Ahmed Tinubu, attracted approximately $17 billion in foreign investment in 2024. This revelation was made by Mr. Udy Ntia, Executive Vice President of…
Ukraine Strikes Russian Oil Refinery in Novokuybyshevsk
Ukrainian authorities confirmed on Monday that their drones targeted a Russian oil refinery in the city of Novokuybyshevsk overnight. Andriy Kovalenko, head of the anti-disinformation center in Ukraine’s National Security and Defence Council, disclosed on Telegram that the refinery was of strategic importance to the Russian military, as it plays a critical role in ensuring…
Global Tariff War Impacts Nigeria’s Oil Revenue Target as Prices Decline
The ongoing global trade war, particularly between the United States and several developed economies, has intensified the decline in crude oil prices, posing a significant threat to Nigeria’s 2025 budget. Bonny Light, Nigeria’s premium crude oil grade, hit a new low of $70.3 per barrel over the weekend, marking a 13% decline since the 2025…
NNPC Ltd Expands Domestic Gas Supply with Landmark Agreement for 80mmscf/d Supply to Ssonic Petroleum
In a significant move to bolster domestic gas utilization and support Nigeria’s industrial and economic growth, the Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a landmark Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd. The agreement, executed on Thursday, March 6, 2025, will see NNPC Gas Marketing Ltd (NGML), a subsidiary…