Electricity – Customers Owe AEDC N50 Billion

Electricity customers in Niger region owe Abuja Electricity Distribution Company Limited N49.58 billion in the last three years, the Managing Director/CEO of the company, Engr. Ernest Mupwaya, has said. Speaking at a meeting with key stakeholders in the region, Mupwaya, acknowledged the desire of the people of Niger State to have significant improvement in power […]

Why we subsidise petrol – Baru

The Group Managing Director of NNPC, Maikanti Baru PHOTO: TWITTER/NNPC The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, yesterday said the corporation was subsidising fuel because government was not favourably disposed to having the pump price exceed the N145 per litre. Fielding questions from State House Correspondents after a […]

FG blames fuel scarcity on external demand

Fuel queue at a filling station at Central Business District Area, Garki, Abuja. PHOTO: NAN     • Orders Kachikwu, Baru to remedy situation • Insists no plan to increase pump price •Confusion in PPPRA over pricing template The Federal Government has blamed the ongoing fuel scarcity on increased demand by nations in temperate regions.Addressing […]

New regulation threatens N466b power sector loans

• Discos to declare force majeure • Downstream assets confiscated over bad debt • Marketers lament delay in payment of $2b subsidy arrears The nation’s banks could lose over N466 billion exposures to the power sector due to new policy by the Nigerian Electricity Regulatory Commission (NERC). Operators in the ailing sector say the regulation […]

Nigeria’s crude oil suffers setback as more traders opt for U.S. blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the […]

Federal Government targets N3.6 trillion investments in oil, gas infrastructure

The Minister of State for Pretroleum Resources Emmanuel Ibe Kachikwu PHOTO: TWITTER/NNPC Federal Government has renewed its commitment to attract over $10 billion (N3.6 trillion) to the Niger Delta between 2017 and 2019 through investments in infrastructure. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made the disclosure at the graduation ceremony […]