CEO and Founder of Renewables in Africa Tony Tiyou shares his views on the state of the African renewable energy sector. Impending enthusiasm and an increase in the variety of funding seem to be two key factors moving the industry forward. And while green energy is taking big strides across the continent, South Africa, Kenya,…
By Oke Peter Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, on Wednesday painted a gloomy picture of tougher times ahead for the Nigerian economy on the back of latest developments in the global oil market which have seen markets tumble amid fears of a potential global recession. Speaking at…
Jumoke Adelabu – Lagos The amount spent on petrol imported into the country dropped by 42 per cent to N1.71tn in 2019, data obtained from the National Bureau of Statistics (NBS) have shown.The N1.71tn represented 10.75 per cent of the amount spent on all imported goods last year, compared to 2018 when petrol accounted for…
The outgoing Managing Director of the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), Mr. Bala Wunti, is stepping into one of the most important roles in the Nigerian oil industry following his appointment to the position of the Group General Manager, National Petroleum Investment Management Services (NAPIMS). NAPIMS…
Damilola Shittu – Abuja Following the drastic fall in the global price of crude oil, the federal government Monday in Abuja raised a committee to come up with a new oil benchmark for the 2020 budget. Buhari had on December 17, 2019 signed N10.59 trillion 2020 budget with $57 oil benchmark and N305 to $1…
The investigation has shown that between January 1 and March 6, Nigeria’s power sector lost N117.8bn. Findings showed that the sector kept losing billions of naira daily, as it lost as much as N2bn daily in some days during the period under review. It was also gathered that the least amount lost by the sector…
By Oke Peter A private firm, Emel Solar and the Rural Electrification Agency (REA) have signed grant offer agreement under the Output Based Fund (OBF) for the firm to sell Solar Home Systems (SHS) to Nigerian households and businesses. The project is implemented by REA and supported by the World Bank. Energy Worth Online reports…
By Oke Peter The Petroleum Products Pricing Regulatory Agency has announced that Nigeria exceeded its Liquefied Petroleum Gas consumption target for the month of January 2020. The LPG is popularly called cooking gas in Nigeria. Specifically, the PPPRA said Nigeria recorded about 89,910 metric tonnes of national consumption of the LPG in January. The PPPRA…
By Shaka Momodu It’s about time we stopped burying our heads in the sand, pretending that all is well with the power sector in Nigeria. Successive governments have been doing just that, and the result? Reality has always come to bite us harder. Nigerians are hoping that the problems they are facing will one day…
The Federal High Court in Abuja has ordered the Central Bank of Nigeria to pay a judgment sum and interest of N182.7bn to Ogoni community from the account of First Bank of Nigeria. FBN manages the account of Shell Petroleum Development Company which the court compelled to pay the sum for causing damage to the…
