Category: Power
BREAKING: Geregu Power Signs Deal with Siemens to Upgrade Power Plant to 500MW
Lagos, Nigeria – May 30, 2024 Geregu Power Plc, chaired by billionaire businessman Femi Otedola, has entered into a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant. This development is expected to significantly enhance the power generation capabilities of the facility, contributing to Nigeria’s energy infrastructure. In a notice…
BREAKING: Dangote Set to Run All Cement Trucks on Compressed Natural Gas (CNG) in Line with President Tinubu’s Alternative Fuel Agenda
Lagos, Nigeria – May 30, 2024 In a significant move aligning with President Bola Tinubu’s directive on adopting alternative fuels for official vehicles by 2025, Dangote Cement Plc has announced that it will transition all its cement trucks to run on Compressed Natural Gas (CNG). This announcement was made during the 15th Annual General Meeting…
Port-Harcourt Refinery Set to Commence Operations by End of July
After experiencing several setbacks, the Port-Harcourt refinery, with a capacity of 210,000 barrels per day, is expected to resume operations by the end of July, according to Chief Ukadike Chinedu, the National Public Relations Officer of the Independent Marketers Association of Nigeria (IPMAN). In a statement issued on Monday, Chief Ukadike Chinedu disclosed that the…
Federal Government Removes Signature Bonus Requirement to Boost Oil Sector Investment
In a bid to stimulate new investments and ramp up oil production, the Federal Government has announced the removal of the requirement to pay a signature bonus when bidding for oil blocks. The Minister of State for Petroleum Resources, Mr. Heineken Lokpobiri, made this announcement during his participation in the 2024 Offshore Technology Conference (OTC)…
Power Minister Inaugurates Siemens Mobile Substations in Lagos & Kebbi
In a significant move to bolster Nigeria’s power infrastructure, the Minister of Power, Adebayo Adelabu, has inaugurated Siemens mobile substations in Lagos and Birnin Kebbi. These substations are part of the ongoing efforts under the Federal Government-Government Siemens deal aimed at strengthening the country’s transmission network. The newly installed mobile substations, equipped with cutting-edge technology,…
NNPCL Assures: Fuel Queues Expected to Disappear by Wednesday
The Nigerian National Petroleum Company Ltd. (NNPCL) has assured Nigerians that the current fuel scarcity and queues at filling stations will be resolved by Wednesday. In a statement made on Tuesday in Lagos, Olufemi Soneye, the Chief Communications Officer of NNPCL, provided an update on the situation. He informed the News Agency of Nigeria that…
NERC Announces Deregulation of Meter Prices Under MAP Scheme
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) declared on Monday the deregulation of meter prices for meters utilized in the Meter Asset Provider Scheme (MAP). The decision to free up meter prices comes following appeals from Meter Asset Providers (MAPs) and other industry stakeholders for a review of meter prices, considering significant…
Minister of Power Issues Warning: Embrace Tariff Increase or Face Nationwide Blackouts
The Minister of Power, Adebayo Adelabu, has issued a stark warning to Nigerians, stating that failure to implement the planned increase in electricity tariffs could result in complete power outages across the nation within the next three months. Speaking on Monday in Abuja during his appearance before the Senate Committee on Power to address inquiries…
NNPC Initiates Unloading of 240 Million Liters of Petrol to Alleviate Fuel Shortage
In response to the escalating nationwide petrol shortage, the Nigerian National Petroleum Corporation (NNPC) has commenced the unloading of 240 million liters of petrol. This significant importation of fuel is aimed at addressing the fuel scarcity currently experienced across the country. On Monday, five vessels carrying a total of 240 million liters of petrol arrived…
Petrol Shortage Expected to Last Two Weeks, Says IPMAN
The Independent Petroleum Marketers Association of Nigeria (IPMAN) disclosed yesterday that the ongoing petrol shortage, affecting several states in the country, is anticipated to persist for about two weeks. While the Nigerian National Petroleum Company Limited (NNPCL) affirmed having sufficient product supply, the Public Relations Officer of IPMAN, Chinedu Ukadike, attributed the scarcity to sourcing…