The Minister of Power, Abubakar Aliyu has assured that the first batch of mega transformers under the Presidential Power Initiative (PPI) would arrive by September. In a statement by his Media Adviser, Isa Sanusi on Saturday, Aliyu said the transformers had passed the factory acceptance test at the Siemens’ transformers factory in Trento, Italy. In December 2021, the Federal Executive …

For at least the fourth time this year, the national grid has collapsed again. This latest electricity showdown had at 12:23 pm on Wednesday as the supply crashed to around 40 megawatts. According to The Nation, out of the 11 distribution companies across the country, only the Abuja Electricity Distribution Company recorded 40Mw, while others had zero. The power outage has been …

The Nigerian National Petroleum Company (NNPC) Limited has said that it has no hand in the decision of oil marketers to increase petrol pump price. Reports on Monday evening claimed that NNPC issued a notice to oil marketers, approving an upward review in the pump price from N165 per litre to N179 per litre as well as the ex-depot price …

President Muhammadu Buhari has said that the transformation of the publicly-owned Nigeria National Petroleum Corporation to the commercial entity now known as Nigerian National Petroleum Company (NNPC) Limited  Limited would strengthen the capacity and market relevance of Nigeria’s oil industry. NNPC Limited came into effect on 1 July, and one of benefits of the Petroleum Industry Act (PIA) 2021. The …

The crisis and confusion in the petrol supply chain persists as the scarcity of Petroleum Motor Spirit (PMS) persists across the country. Marketers, who have the product to dispense, sell at arbitrary prices above the N162/N165 approved for a litre. They blame this on the hike in ex-depot prices. Marketers, who shut their filling stations to consumers, say they would …

The two persons who on Sunday night allegedly attacked the facilities of Geometric Power and Aba Power Limited in the Osisioma Industrial Layout, Aba, Abia State, and carted away materials worth millions of Naira have been nabbed. Geometric’s Chief Security Officer, Air Commodore Nicholas Orjiude (rtd.), told media professionals in Aba that the suspects were captured on Monday morning in …

Vigeo Power Limited, the majority shareholders of Benin Electricity Distribution Company Plc (BEDC), has commenced contempt proceedings against the Bureau of Public Enterprise (BPE), describing the Federal Government agency as defaulters involved in the illegal takeover of BEDC. In a statement, the law firm of Kunle Adegoke (SAN), lawyers to Vigeo Power Limited, said the contempt proceedings had become imperative …

The price of Premium Motor Spirits (PMS) will be on the upward march again, going by the discussion between the Federal Government and oil marketers. Officially, PMS (better known as fuel) sells for N165 per litre but it has gone as far as N250 per litre in several parts of Nigeria, including the federal capital, Abuja in recent weeks. On …

Oil marketers may embark on their proposed strike after the Sallah holidays, a situation that will compound the already perennial and troubling fuel shortages. Monday and Tuesday are government-declared rest days to observe the Eid-el-Kabir. Over the weekend, the Independent Petroleum Marketers Association of Nigeria (IPMAN) threatened to commence an action that would result in what it described as the …

Despite the insistence of the Federal Government that marketers should not sell Premium Motor Spirit (commonly known as fuel or petrol) for more than the official rate of N165 per litre, many filling stations across the country have increased the price to no less than N185. The government issued the warning to oil marketers on Tuesday, while advising the citizens against …