One of Nigeria’s leading electricity distribution companies, Ikeja Electric Plc (IE), has announced the roll-out of prepaid meters for customers in the Ikorodu Business Unit. According to the firm, the deployment and installation of prepaid meters to customers in Ikorodu, which will be carried out by one of its MAPs, New Hampshire Capital limited, will…
By Oke Peter The 21st edition of the foremost global investment meeting for Africa’s power, energy, infrastructure, and industrial sectors, Africa Energy Forum (AEF) begins today at the Lisbon Congress Center, Lisbon, Portugal. The four-day event commences with the Government opening ceremony with over 20 Ministers of Energy in attendance. According to the organiser of the…
Residents of Pearl Garden Estate and Pearl Nuga Park Estate located at Sangotedo Village in Eti-Osa Local Government Area of Lagos State have dragged Mr. Kelchi Mbagwu and his CMB Building Maintenance and Investment Company Limited to the Economic and Financial Crimes Commission (EFCC) over alleged fraudulent mortgage of some of their homes to secure…
By Oke Peter Shell Nigeria Gas says it has increased its gas distribution capacity by over 150 percent following the safe completion of its second gas train, the Agbara-Ota Capacity Increase Project. The facility enables SNG and its partners to achieve regular gas supply to subscribed industries in Ogun State while efforts are ongoing to…
Schneider Electric, the global specialist in energy management and automation present in more than 100 countries has launched a new range of products for its Nigerian market to address power-related challenges and the need for premium protection and innovative offers from high-end users to low-income earners. The newly launched products include a range of affordable…
Shares of Nigerian oil producer Seplat were quick to rally in London after the company denied claims by a Nigerian presidential investigation panel that the company had failed to make royalty payments between 2013 and 2017. But the denial hardly creates future visibility over Seplat’s future liabilities. The Nigerian panel claimed that Seplat owes $33m,…
The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licences and one Oil Prospecting Licence belonging to five companies. In a public notice issued on Thursday by the regulatory body, the revocation was based on a presidential directive to “recover legacy debts” owed by the companies operating the licences. The five companies affected…
The Solar Impulse Foundation and the European Investment Bank (EIB) have signed a landmark agreement for the provision of financial advisory services to innovative environmental solutions part of the #1000Solutions portfolio. The advisory process, which helps companies structure their financing strategy, could ultimately lead them to access the EIB’s products, such as venture debt facilities…
By Oke Peter In its determination to put an end to the electricity problem in Nigeria, the Presidency has met with electricity distribution companies in a bid to resolve some of the issues affecting the electricity supply industry, our correspondent has learnt. It was gathered that the Chief of Staff to the President, Mr Abba…
The Special Presidential Investigation Panel for the Recovery of Public Property has uncovered eight-dollar accounts and other naira accounts said to be kept by the Nigerian National Petroleum Corporation (NNPC) with the Ecobank Plc. The correspondences obtained by The PUNCH on Sunday show that the panel, through its chairman, Mr Okoi Obono-Obla, has written to…
