Emmanuel Addeh – ƵLIVE Truth and Reason Mon, 29 Dec 2025 20:03:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 Presidential CNG Initiative Signs MoU to Localise Infrastructure Manufacturing /2025/12/30/presidential-cng-initiative-signs-mou-to-localise-infrastructure-manufacturing/ /2025/12/30/presidential-cng-initiative-signs-mou-to-localise-infrastructure-manufacturing/#comments Mon, 29 Dec 2025 23:18:00 +0000 /?p=1161316

Emmanuel Addeh in Abuja

The Executive Chairman of the Presidential Initiative on Compressed Natural Gas (PICNG) and Electric Vehicles (EVs),  Ismaeel Ahmed, has signed a Memorandum of Understanding (MoU) with a Chinese firm to enhance in-country production of some needed infrastructure in the sector.

The deal took place when Ahmed led a delegation on a five-day working visit to the factories and corporate offices of You Jie Te Environment Technology Ltd (YJT) in Chengdu and Hangzhou, China, culminating in the signing of the deal between both organisations.

YJT is a leading Chinese infrastructure and Internet of Things (IoT) solutions provider operating within the downstream oil and gas sector, a statement from the PICNG secretariat in Abuja stated.

The partnership is focused on localising the manufacturing and assembly of critical energy infrastructure in Nigeria, including CNG dispensers, refuelling stations, and electric vehicle charging facilities.

Under the MoU, PICNG and YJT will also integrate advanced IoT solutions into Nigeria’s CNG and EV ecosystem. YJT’s smart monitoring technologies will complement PICNG’s National Gas Vehicle Monitoring System (NGVMS), enabling real-time oversight of refueling equipment, operational performance, regulatory compliance, and economic data across stations nationwide.

Speaking on the importance of the agreement, the executive chairman of PICNG, Ahmed, said the collaboration would deliver far-reaching benefits beyond infrastructure development.

“This partnership is a significant step forward in ensuring that Nigerians benefit not only from cleaner and more affordable transport energy, but also from job creation, skills transfer, and improved service reliability. 

“By localising manufacturing and deploying smart monitoring technologies, we are strengthening transparency, safety, and efficiency across the CNG and EV refuelling value chain, ultimately delivering better outcomes for commuters, operators, and the broader economy,” he said.

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At 34th Anniversary, Leemon Ikpea Says Lee Engineering Group May Go Public in Future /2025/11/19/at-34th-anniversary-leemon-ikpea-says-lee-engineering-group-may-go-public-in-future/ /2025/11/19/at-34th-anniversary-leemon-ikpea-says-lee-engineering-group-may-go-public-in-future/#respond Wed, 19 Nov 2025 05:18:56 +0000 /?p=1146864

Emmanuel Addeh in Abuja


The Chairman and Chief Executive of Lee Engineering Group and Allied Companies Limited, Dr Leemon Ikpea, yesterday stressed that the management of the organisation was working to ensure it goes public in the future.


Speaking at the 34th Anniversary Town Hall meeting of Lee Engineering and Construction Company, themed: “Sustaining Excellence, Deepening Legacy, and Shaping the Future,” he stated that to secure the long-term leadership and stability of the group, the Board had recently approved the appointment of new Chief Operating Officers for some of its subsidiaries.


In the same vein, he stressed that the company was empowering existing COOs to take greater ownership and responsibility for driving their businesses under the umbrella of the Group.


Thirty-four years ago, he recalled that the company began the journey in a modest 40-foot container — armed with faith, determination, and an unyielding vision, but said that today, through hard work, resilience, and divine grace, Lee Engineering has grown into a multi-subsidiary enterprise with strong footprints across Nigeria and beyond.


This remarkable transformation, he pointed out, was made possible by employees’ dedication, professionalism, and loyalty.


“Our story remains one of vision, persistence, and purpose. From our humble beginnings to our current position as a leading indigenous engineering group, we have shown that integrity, innovation, and teamwork are the true foundations of enduring success.


“As we celebrate this 34th anniversary, we must also look to the future with renewed commitment. The future belongs to those who plan for it. This is why our focus remains firmly on: Building profitable and sustainable growth across all subsidiaries ensuring efficiency, competitiveness, and operational excellence.


“(We are) strengthening corporate governance to secure the long-term leadership and stability of the Group.


“In line with this, the Board has recently approved the appointment of new COOs for some of our subsidiaries, while empowering existing COOs to take greater ownership and responsibility for driving their businesses under the umbrella of the Group.


“This marks a deliberate step in nurturing the next generation of leaders, fostering accountability, and ensuring that Lee Engineering continues to thrive well into the future. (We are) preparing for the future of the Lee Group — including exploring pathways that will, in the decades ahead, position the company to go public, while preserving our ownership philosophy and values,” he stated.


In the same vein, he noted that the company was expanding its frontiers, explaining that the subsidiaries — Lee Engineering and Construction Company Ltd, Lee International Machinery and Services Ltd, Trebet Aviation Ltd, Trebet Travels and Tours Ltd, and KIZI Oil and Gas Services Ltd continue to create value, contribute to national development, and sustain its reputation for quality and innovation.


The Amaniba Oil Field Project being handled by KIZI, among others, he explained, stands as a testament to overall capacity and bold vision to break new grounds in the Nigerian business environment.


Yet, even as the Group grows, he maintained that it must never lose sight of the principles that brought it this far, hinged on hard work, unity, discipline, and faith in God. These, he said, remain the enduring pillars of the Lee Engineering brand.


“As I gradually take a back seat in the day-to-day operations of our businesses, my greatest joy lies in seeing the structures we have built become stronger, and the next generation taking up the mantle with renewed vigour.


“Leadership succession is not about stepping aside; it is about ensuring continuity — about building something that will outlive us all. Let us, therefore, continue to sustain excellence, deepen our legacy, and shape our shared future together,” Ikpea stated.

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With N1.51tn Collection in 8 Months, Discos’ Revenue Set to Exceed Record N2tn by Year-end  /2025/11/11/with-n1-51tn-collection-in-8-months-discos-revenue-set-to-exceed-record-n2tn-by-year-end/ /2025/11/11/with-n1-51tn-collection-in-8-months-discos-revenue-set-to-exceed-record-n2tn-by-year-end/#respond Mon, 10 Nov 2025 23:51:27 +0000 /?p=1143665

Emmanuel Addeh in Abuja 

Electricity Distribution Companies (Discos) in Nigeria have posted a record revenue of over N1.51 trillion in the first eight months of 2025, and are underway to significantly exceed the N2 trillion mark by the end of this year.

A Ƶ analysis of data from the Nigerian Electricity Regulatory Commission (NERC), showed that the amount is over N460 billion increase compared to between January and August 2024.

A breakdown of the total revenue for the first eight months of 2025, showed that the Discos posted N178.68 billion in January; N191.75 billion in February; N188.89 billion in March; N199.85 billion in April; N191.57 billion in May and N182.11 billion in June. Besides, in July, total revenue collected was N193.96 billion, while August collection was N191.11 billion 

This means that the power distribution companies collectively raked in a total of about N1.517 trillion in the first eight months of this year, compared to N1.053 trillion in the eighth months to August 2024,  representing a N464 billion increase over the same period last year.

The turnaround marks the strongest nominal financial performance for the distribution segment of the electricity value chain since Nigeria began the power sector reforms over 12 years ago, specifically in 2013 when the sector was privatised.

Although the Discos maintain that the collection is still not enough to end the illiquidity in the sector, however, it is a significant improvement on past revenue collection performances by the power utilities.

In the past, the Discos struggled with weak collections, mounting debts to the Transmission Company of Nigeria (TCN) and the Generation Companies (Gencos), as well as chronic customer dissatisfaction over poor supply. But the latest figures suggest that recent policy shifts are beginning to translate into stronger financial flows across the electricity value chain.

A major reason for the improvement in revenue has been the upward adjustment in electricity tariffs, especially for Band ‘A’ customers who enjoy a minimum of 20 hours of power supply daily. The increase was approved in April 2024, a key factor underpinning the revenue surge. 

Before the adjustment, many Discos lamented that they were forced to sell electricity below the cost of procurement from the bulk trader, deepening liquidity shortfalls. NERC has argued that new tariffs, though a difficult decision, were necessary to sustain investment, attract financing, and guarantee more reliable supply.

The total revenue in the period is higher than the N1.053 trillion generated in the first eight months of 2024 by the distribution companies. Broken down, it showed that in 2024, N95 billion was generated in January out of N130.92 billion billed for the month.

Similarly, the sum of N97 billion was collected in February out of the projected N113 billion; N100.44 billion was generated in March out of N126.56 billion billed; N142.92 billion was made by the Discos in April out of N178.72 billion, and N139.23 billion was generated in May out of N191.65 billion billed for the month.

Besides, in June 2024, the revenue increased to N150.86 billion out of an estimated billing of N176.57 billion, while in July and August respectively, the distribution companies generated a revenue of N162.14 billion and N168.7 billion for that year.

In all, aside from the significant tariff increase in April 2024 as well as the rapid rollout of meters under both government-backed schemes and private financing initiatives, which have helped raise collections by the power utilities, there are also efforts to curb Aggregate Technical and Commercia (ATC&C) losses.

According to recent sector reports, more than 800,000 new meters were deployed in recent times under the Meter Asset Provider (MAP) framework, alongside accelerated installation through the National Mass Metering Programme (NMMP). This has reduced the number of unmetered customers significantly, cutting revenue losses tied to unbilled consumption.

Besides, some Discos have invested in digital payment platforms and mobile applications, making it easier for customers to recharge, track usage, and resolve disputes. The use of electronic vending channels has minimised leakages associated with manual collection and improved real-time monitoring of cash flows.

However, despite the strong growth in revenue, concerns remain about supply shortages, affordability and service quality by the 12 electricity distribution companies.

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NERC: Only 10 of 26 Power Plants Supplied 81% of Nigeria’s Electricity in September /2025/10/21/nerc-only-10-of-26-power-plants-supplied-81-of-nigerias-electricity-in-september/ /2025/10/21/nerc-only-10-of-26-power-plants-supplied-81-of-nigerias-electricity-in-september/#comments Mon, 20 Oct 2025 23:51:00 +0000 /?p=1136187

Emmanuel Addeh in Abuja 

Nigeria’s electricity supply in September 2025 remained heavily concentrated among a handful of generation stations, with just 10 of the 26 grid-connected power plants accounting for 81 per cent of total energy produced during the month. 

This is according to the latest Operational Performance of Power Plants factsheet released by the Nigerian Electricity Regulatory Commission (NERC).

The report paints a picture of a power sector still struggling with uneven performance, with only a few plants driving the bulk of generation while several others contributed little or nothing. 

Out of a total installed capacity of 13,625 megawatts (MW), only 5,200MW was available on average, representing just 38 per cent plant availability. Despite this low figure, the national load factor stood at 78 per cent, showing that plants in operation were generally running close to their generation potential.

Leading the pack was Zungeru Hydro, which operated at full capacity, posting a 100 per cent plant availability factor but only managing a 51 per cent load factor, generating 355 megawatt-hours per hour (MWh/h). Egbin, the country’s largest thermal station, followed with a strong 90 per cent load factor and an average hourly generation of 546MWh/h, despite a plant availability rate of only 46 per cent.

Other top performers included Kainji (91 per cent load factor), Jebba (73 per cent), Delta (83 per cent), Shiroro (68 per cent), Ihovbor (86 per cent), Okpai (87 per cent), Geregu (86 per cent), and Afam II (99 per cent). Together, these 10 plants, a mix of hydro and gas-fired stations,  formed the backbone of national electricity generation in September.

Among the lower-tier plants, the performance was more uneven, as Olorunsogo II, with an installed capacity of 750MW, achieved only 26MW average availability, translating to a dismal 3 per cent availability factor and 37 per cent load factor. Similarly, Sapele Steam (720MW) operated at just 3 per cent capacity, though its 100 per cent load factor suggested that the little power it produced was consistently dispatched.

By contrast, Odukpani, with 625MW installed capacity, stood out among the smaller contributors, achieving 29 per cent availability and a remarkable 97 per cent load factor, generating 177MWh/h. Afam I also delivered 72 per cent load factor on limited available capacity.

Some plants contributed nothing to the grid. Alaoji I, with 500MW installed capacity, recorded zero generation and availability. Rivers I, Omoku I, and Ikeja I also posted minimal or zero outputs.

The data underscored the fragility and imbalance in Nigeria’s generation mix. While a few well-maintained stations such as Egbin, Kainji, and Delta 1, continue to sustain national supply, several others remain idle due to gas shortages, mechanical faults, or transmission constraints.

In total, the grid generated an average of 4,091MWh/h in September. However, with less than 40 per cent of total capacity actually available, the system continued to underperform relative to its potential.

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NNPC Rakes In over N800bn from 30% Management Fee, Frontier Fund in Nine Months /2025/10/21/nnpc-rakes-in-over-n800bn-from-30-management-fee-frontier-fund-in-nine-months/ /2025/10/21/nnpc-rakes-in-over-n800bn-from-30-management-fee-frontier-fund-in-nine-months/#respond Mon, 20 Oct 2025 23:50:00 +0000 /?p=1136186

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) has reported a combined N801.3 billion from Management Fees and Frontier Exploration Funds within the first nine months of 2025,  representing 56.5 per cent of the N1.42 trillion budgeted for both streams this year.

The data, drawn from the company’s September 2025 revenue and distribution report to the Federation Accounts Allocation Committee (FAAC), indicated that each of the two categories  recorded N400.667 billion in the period under review. 

Both items are derived from 30 per cent apiece of the profit oil and gas under the Production Sharing Contract (PSC) arrangements.

While the figures suggested modest progress, they also exposed a significant shortfall against projections as each of the two lines showed a variance of N264.4 billion below expectation for the first three quarters of the year, reflecting the wider fiscal pressures confronting the oil and gas sector despite production recovery efforts.

The NNPC management fee, a charge representing the corporation’s entitlement from managing PSCs on behalf of the federation, recorded a variance of N132.233 of its annual projection. The same applied to the frontier exploration fund, a dedicated pool for financing hydrocarbon search and development in underexplored or virgin basins across the country.

However, the N801.3 billion combined inflow nonetheless signalled a measure of consistency in upstream cash generation through PSCs, which have become the backbone of Nigeria’s crude output in recent years. 

Besides, a breakdown of the NNPC report to FAAC showed that year-to-date the company distributed N1.335 trillion from PSC operations to FAAC over the nine-month period, against an annual budget of N2.368 trillion. 

This translated to 56.3 per cent performance, leaving a deficit of over N440 billion in the nine months under consideration. Out of this, 30 per cent went to NNPC’s management fee, another 30 per cent to the frontier exploration fund, and the remaining 40 per cent as the federation’s direct share.

This means that for every N100 earned from PSC profits, N30 was retained by the company as its management entitlement, N30 was set aside for frontier exploration, and N40 was remitted into the federation account. 

However, the pace of remittance highlights the slow rebound of Nigeria’s upstream output and the continued gap between target and actual production. Average crude oil output in 2025 has hovered around 1.6 million barrels per day, below the official benchmark of 2.06 million bpd in the country’s budget for this year. 

The frontier exploration fund, in particular, continues to attract attention given its strategic role in expanding Nigeria’s reserve base. Statutorily,  it is managed by NNPC to finance exploration in frontier basins such as the Chad, Bida, Sokoto, Dahomey, and Benue troughs. 

The N400.6 billion mobilised for that purpose so far is expected to support seismic and appraisal activities in those basins through the final quarter of the year, although issues remain as to the deployment of these funds.

The NNPC’s September FAAC snapshot further showed that the Federation’s 40 per cent PSC share amounted to N710.52 billion for the nine months, while total PSC distribution stood at N1.776 trillion. 

With three months left in the fiscal year, NNPC faces the challenge of closing the gap between budget and actual inflows. If current trends persist, the company may end 2025 with roughly half of what was projected at the start of the year.

Besides, whether the last quarter’s performance will tilt the balance closer to target will depend largely on stability in production, crude prices, and continued efficiency in PSC administration.

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DAPPMAN, Dangote Clash, Marketers Demand Retraction of Products Diversion Claim /2025/09/18/dappman-dangote-clash-marketers-demand-retraction-of-products-diversion-claim/ /2025/09/18/dappman-dangote-clash-marketers-demand-retraction-of-products-diversion-claim/#comments Thu, 18 Sep 2025 02:48:35 +0000 /?p=1124673

•Issue seven-day ultimatum  

•Dangote: We stand by our statement, go and seek redress

•Accuses association of asking for annual subsidy of N1.5tn 

•Ndume backs refinery’s management, slams saboteurs

Emmanuel Addeh, Sunday Aborisade in Abuja and Peter Uzoho in Lagos

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Dangote refinery again clashed yesterday over the allegation of diversion of petroleum products by members of the association, and demanded a retraction of the claim in seven days.

DAPPMAN said the refinery should provide documented proof of its members diverting products, threatening to take legal action against the refinery if it failed to comply with its position.

But in a response last night, the Dangote refinery stated that it was standing by its comments, insisting that any party which feels aggrieved by the contents of the publication is entitled to seek redress through the appropriate legal channels, without recourse to any so-called seven-day notice.

In the same vein, Borno South Senator, Ali Ndume, has issued a strong appeal for restraint, urging stakeholders to stop what he described as a coordinated media demonisation campaign against the Dangote refinery.

DAPPMAN in a statement yesterday said: “We challenge Dangote refinery to present verifiable evidence that DAPPMAN members are diverting products to neighbouring countries. Smuggling is a national security matter. If any member is complicit, let the relevant agencies act.

“We issue a seven-day ultimatum to the refinery to either retract this allegation or provide documented proof. If neither occurs, we reserve the right to seek legal redress”, DAPPMAN stated.

Dangote had in a widely advertised statement on Monday, in response to an earlier statement by DAPPMAN, accused the association’s members of engaging in diversion of petrol from Nigeria to neighbouring West African countries.

The company added that DAPPMAN was the force behind the recent strike action embarked by the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG).

But in its statement in response to Dangote, DAPPMAN in its 10-point rebuttal, categorically rejected what it described as the misleading and factually incorrect statements made by the  refinery.

“DAPPMAN categorically rejects the misleading and factually incorrect statements made by the Dangote Petroleum Refinery in its press release of 15 September 2025.

“As an association representing legitimate depot owners and marketers in Nigeria’s deregulated downstream sector, we are compelled to correct the record and address claims that threaten the integrity of our industry, mislead the public, and undermine regulatory confidence.

“We categorically state that our members, including Matrix, AA Rano, AYM Shafa, and NIPCO are fully tax compliant as we are not aware of any pending cases or disputes against them for default in their tax obligations.”

It described Dangote Refinery’s allegation of sponsoring NUPENG strike as false and baseless, saying the refinery’s claim that DAPPMAN sponsored NUPENG suggests a fundamental lack of understanding of how Nigeria’s downstream ecosystem works.

It said stakeholders such as NUPENG, Nigerian Association of Road Transport Operators (NARTO), Petroleum and Retail Outlet Owners Association of Nigeria (PETROAN), Major Energies Marketers Association of Nigeria (MEMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN) and DAPPMAN were independent entities, each with distinct roles and interests.

The statement noted that DAPPMAN does not control labour unions or other industry associations and has no business interfering in their decisions.

“DAPPMAN did not sponsor or support NUPENG’s proposed industrial action. Our role has been one of de-escalation, focused on averting disruption to fuel supply and national mobility,” the association added.

DAPPMAN argued that the recent reductions in pump prices were primarily the result of a number of factors including  “a stronger naira (N1,500–N1,550/$ since Q1 2025), supported by the fiscal and monetary reforms of President Bola Tinubu’s administration and the Central Bank of Nigeria (CBN), declining international crude prices (Brent crude fell from $92 to $76 per barrel)  market deregulation and improved FX liquidity under the current administration.”

On round-tripping accusations by Dangote Refinery, DAPPMAN described it as misleading, saying, allegations that Nigerian marketers import Dangote-refined products from Togo are both misleading and ironic.

“For clarity, Offshore Lome is a recognised West African (WAF) trading hub, not a blending plant, as some commentators have suggested. Just as the Dangote Refinery is a refinery and not a factory, Offshore Lome is a trading point where cargoes are exchanged, not processed,” they added.

It noted that pricing ‘Offshore Lome’ reflects international market transactions and was not the same as retail pricing within Lome, Togo.

“It is, in fact, the Dangote Refinery that offers discounts of over $40/MT to foreign traders while denying Nigerian marketers access to coastal vessel loading and restricting them to gantry-only lifting. This restrictive access and pricing structure create the very arbitrage opportunity the refinery now criticizes”, DAPPMAN stated.

“Dangote’s claims that DAPPMAN members import fuels with sulphur levels above 50ppm contradict its own operational record. The refinery itself applied for waivers from NMDPRA to distribute high-sulphur products, in direct contravention of PIA Section 317(11). We challenge the refinery to publicly deny this”, it stated.

But in a response last night, Dangote stated: “We wish to emphasise that any party who feels aggrieved by the contents of the publication is entitled to seek redress through the appropriate legal channels, without recourse to any so-called seven-day notice. We are fully prepared to defend our position.

“We wish to clarify that the crux of DAPPMAN’S sustained attacks Dangote Petroleum Refinery stems from their demand for an annual subsidy of N1.505 trillion to enable their members to match the refinery’s gantry prices at their own depots.

“While we offer petroleum products to marketers at our gantry price, DAPPMAN insists on receiving products via coastal logistics, an option that would add N75 per litre in additional costs. Based on projected daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), this amounts to an additional annual cost of N1.505 trillion (N1,505,625,000,000), which they are effectively asking us to absorb and pass it on to consumers.

“Specifically, the marketers are demanding that we discount N70/litre in coastal freight, NIMASA, NPA and other associated costs as well as N5/litre for the cost of pumping into vessels to enable them to transport products from our refinery to their depots in Apapa and sell at the same price as our gantry.

“We wish to make it clear that we have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the Federal Government for many years. DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” Dangote added.

But in defence of Dangote, Ndume, a former Senate Leader, in a statement yesterday,  warned that the barrage of accusations directed at the $20 billion privately-owned refinery risks undermining national economic interest, even as the federal government has created a level playing field for all investors in the oil and gas space.

 Ndume cautioned against what he described as a “poisonous media narrative” that seeks to cast the Dangote Refinery as a threat to fair competition and national interest.

He noted that contrary to the claims of its critics, the refinery represents the kind of bold, long-term investment the country desperately needs to reduce dependence on imported fuel and build economic resilience.

Ndume said: “Before Dangote took the risk to build his refinery, previous administrations had granted licenses to many Nigerians to do the same. What did they do with it? Some simply capitalised on crude oil allocation incentives without ever breaking ground on a refinery project.”

Ndume recalled that as far back as 2002, at least 12 licenses were issued to private sector players to build refineries.  He said the licenses were later revoked, and a new round of permits were issued in 2007 by the then Department of Petroleum Resources (DPR).

Yet, according to him, most of the licensees failed to act. He said: “Those parading themselves as fuel importers today didn’t seize the initiative to come together and build refineries. Again, under the late Muhammadu Buhari administration, modular refinery licenses were issued.

“How many of them actually scratched the surface? But they are now ganging up to accuse Dangote falsely of monopolising the market.”

The senator stressed that the Petroleum Industry Act (PIA) provides a robust legal framework for a deregulated downstream sector, where fair competition, not protectionism, should thrive.

According to him, the Dangote Refinery, which has the capacity to process 650,000 barrels of crude oil per day, is a vital strategic asset and not a threat.

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NMDPRA, FCCPC Set Up C’ttee to Address Consumer Complaints in Oil Sector /2025/09/18/nmdpra-fccpc-set-up-cttee-to-address-consumer-complaints-in-oil-sector/ /2025/09/18/nmdpra-fccpc-set-up-cttee-to-address-consumer-complaints-in-oil-sector/#respond Thu, 18 Sep 2025 02:47:47 +0000 /?p=1124675

Emmanuel Addeh in Abuja

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) have inaugurated a 10-member Joint-Technical Working Committee to strengthen consumer protection in the energy sector.

Executive Director, Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, who represented the Authority Chief Executive, Farouk Ahmed, at the event in Abuja, said the committee was established to address recurring complaints relating to competitive practices and service delivery in the oil and gas sector.

The new committee has been mandated to share market data, monitor and investigate anti-competition practices, and ensure adequate consumer protection, a note from the NMDPRA stated yesterday.

The Joint Committee is led by the FCCPC’s Deputy Director of Surveillance and Investigation, Mrs. Omagu Nwachukwu, and Mr Charles Nwachukwu, Head of the Alternative Dispute Resolution Centre of the NMDPRA.

Besides, the committee is expected to identify potential threats to the sector that could negatively impact the market and escalate such issues to the top management of both organisations.

On September 4, 2025, the Authority’s top management team, led by its Chief Executive, Ahmed, visited the FCCPC headquarters to meet with its Executive Vice Chairman/Chief Executive, Mr. Tunji Bello.

The meeting, according to the NMDPRA, was aimed at charting a course for collaborative engagement to promote fair market prices and consumer value.

The Authority also emphasised that its collaboration with the FCCPC is expected to establish a level playing field for operators, prevent monopoly, and provide modalities for prosecution in cases where abuse is established after further investigation.

The NMDPRA regulates Nigeria’s midstream and downstream petroleum operations to ensure efficiency, safety, and fair market practices, while the FCCPC protects consumers by promoting fair competition, preventing monopolies, and safeguarding consumer rights in Nigeria.

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Discos’ Half Year Revenue Rises 55.8% Amid Higher Tariff, More Metering /2025/09/02/discos-half-year-revenue-rises-55-8-amid-higher-tariff-more-metering/ /2025/09/02/discos-half-year-revenue-rises-55-8-amid-higher-tariff-more-metering/#respond Mon, 01 Sep 2025 23:31:00 +0000 /?p=1119075

Emmanuel Addeh in Abuja 

Electricity Distribution Companies (Discos) in Nigeria recorded a dramatic surge in revenue collection in the first half of 2025, rising by 55.8 per cent compared to the previous year.


This is according to a Ƶ analysis of data from the Nigerian Electricity Regulatory Commission (NERC), with the result reflecting a combination of tariff adjustments, stepped-up metering, and intensified enforcement of payment discipline across the power sector. 


The Discos collectively raked in a total of about N1.13 trillion in the first half of this year, compared to N725.45 billion in the six months to June 2024,  representing an over 55 per cent per cent increase.


The turnaround marked one of the strongest half-year performances for the distribution segment since Nigeria began the power sector reforms over a decade ago, specifically in 2013 when the sector was privatised.


For years, Discos struggled with weak collections, mounting debts to the Transmission Company of Nigeria (TCN) and the Generation Companies (Gencos), as well as chronic customer dissatisfaction over poor supply. But the latest figures suggest that recent policy shifts are beginning to translate into stronger financial flows across the electricity value chain.


The upward adjustment in electricity tariffs, approved in April 2024, has been a key factor underpinning the revenue surge. Under the new Multi-Year Tariff Order (MYTO), certain customer bands are now charged cost-reflective levels, particularly those in Band ‘A’ who enjoy a minimum of 20 hours of power supply daily.
Before the adjustment, many Discos lamented that they were forced to sell electricity below the cost of procurement from the bulk trader, deepening liquidity shortfalls. NERC has argued that new tariffs, though a difficult decision, were necessary to sustain investment, attract financing, and guarantee more reliable supply.


A further breakdown of the total revenue for the first half of 2025 showed that the Discos posted a total revenue of N178.68 billion in January; N191.75 billion in February; N188.89 billion in March; N199.85 billion in April; N191.57 billion in May and N182.11 billion in June 2025, to hit the N1.13 trillion mark.
The total revenue in the period is higher than the N725.4 billion generated in the first six months of 2024 by the distribution companies. Broken down, it showed that N95 billion was generated in January out of N130.92bn billed for the month.


Similarly, the sum of N97 billion was collected in February out of projected N113 billion, N100.44 billiin was generated in March out of N126.56 billion billed, N142.92 billion was made in April out of N178.72 billion, and N139.23 billion was generated in May out of N191.65 billion billed for the month. In June, the revenue increased to N150.86 billion out of an estimated billing of N176.57 billion to hit N725.45 billion.


Besides, checks showed that the power distribution firms in Nigeria’s Electricity Supply Industry (NESI) amassed N514.95 billion in revenue in the first half of 2023, representing the highest collection recorded at the time. 


Compared with the 2025 half year data, the collection from January to June in 2024 was less than half of the amount received by the companies in the same period this year, marking a significant milestone and underscoring the evolving dynamics within the country’s power distribution landscape.
In the same vein, the payment of previously unpaid bills by electricity users in Nigeria in the first half of 2022 pushed revenue generated by distribution companies in the country to the highest level in eight years at the time.

The Discos generated N393.15 billion in revenue in the first half of 2022, up 6.15 per  cent from N368.97 billion reported in the first half of 2021, data from the National Bureau of Statistics (NBS) also showed.


This is just as electricity consumers hooked on to the national grid paid N831 billion to the Discos that was sent to their homes and offices between the two years between 2017 and 2019.


In all, the rapid rollout of meters under both government-backed schemes and private financing initiatives has also helped plug leakages. Although there is still heavy reliance on estimated billing, which often lead to disputes, underpayment, and outright rejection of bills,  the recent metering penetration has also improved collection.


According to sector reports, more than 800,000 new meters were deployed in recent times under the Meter Asset Provider (MAP) framework, alongside accelerated installation through the National Mass Metering Programme (NMMP). This has reduced the number of unmetered customers significantly, cutting revenue losses tied to unbilled consumption.


Additionally, some Discos have invested in digital payment platforms and mobile applications, making it easier for customers to recharge, track usage, and resolve disputes. The use of electronic vending channels has minimised leakages associated with manual collection and improved real-time monitoring of cash flows.


However, despite the strong growth in revenue, concerns remain about affordability and service quality. Many households and small businesses continue to complain that the tariff hike is biting into disposable income at a time of high inflation and economic pressure. 


For customers outside Band A, electricity supply remains erratic, with outages still common in parts of the country.


Despite the rise in tariff for a section of power consumers, the Minister of Power, Adebayo Adelabu, has recently maintained that the current subsidy regime in the sector was not sustainable, noting that raising prices was inevitable.

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FG Moves to End ASUU Crisis, Inter-ministerial C’ttee Meets Today /2025/08/28/fg-moves-to-end-asuu-crisis-inter-ministerial-cttee-meets-today/ /2025/08/28/fg-moves-to-end-asuu-crisis-inter-ministerial-cttee-meets-today/#respond Thu, 28 Aug 2025 03:51:41 +0000 /?p=1117516
  • Set to present counter proposal
    •Education minister calls for patience, says matter will be settled wholesomely
    •Insists a number of knotty issues already thrashed out

Emmanuel Addeh in Abuja

All concerned federal government ministries and agencies will today (Thursday) meet in Abuja in a bid to resolve the lingering areas of disagreement between the Academic Staff Union of Universities (ASUU) and the government.


Several branches of ASUU had on Tuesday staged coordinated protests across campuses nationwide to press home long-standing demands from the federal government, warning of an imminent strike if the government failed to meet their demands.


But the Minister of Education, Tunji Alausa told Ƶ last night that the Bola Tinubu administration has already resolved a number of the knotty issues it met when it took over the reins of governance, assuring the lecturers that the matter will be settled in a wholesome manner this time around.


In an interview with Ƶ, Alausa noted that he has already called a meeting of several ministries and departments, including that of Finance, Labour and Productivity, Budget Office, Solicitor General, Salaries and Wages Commission, among others, to iron out a counter-proposal to the one presented by the union.
Admitting that the matter has lingered for about 16 years, Alausa noted that this time around, the Tinubu administration will be very meticulous about resolving the pending issues, explaining that when thrashed out the counter-proposal will be handed over to the Yayale Ahmed Committee.


Alausa pointed out that because of the need to solve the problems once and for all, there was no need to be unnecessarily in a hurry, emphasising that part of the first tranche of about N150 billion had already been released by the government.


The education minister wondered why ASUU was protesting when it was aware of its moves to end the prolonged crisis, which first started over 16 years ago.
“Remember, we want to be very meticulous. We want to resolve it. But this agreement has lingered on for 16 years. But I’ve met with them that the government needs to start working on a counter-proposal that we give to the Yayale Ahmed committee. We want to do this in a holistic manner. And it has to take some time.
“This cannot be done in a hurry. Previous agreements were done in a hurry. And that was 16 years ago. President Tinubu had decided to release the first tranche of the N150 billion needs assessment that he promised them.


“It was N1.2 trillion. They only released N200 billion about 10 years ago or 14 years ago. Nothing has happened. So, we’re working comprehensively. The government’s side is meeting at a high level to work on a counter-proposal. A lot of the issues have been resolved already,” Alausa pointed out.


In just two years, the minister explained that Tinubu has resolved a lot of the issues, including earned allowances, which have been paid, as well as post-graduate supervision allowances, assuring that the 25 per cent wage adjustment will be paid as soon as government finances improve.


“I have met severally with ASUU, a lot of these things have already been taken care of by this current government, which include payment of arrears earned allowances, their postgraduate supervision allowance has been resolved, their 25 per cent wage adjustment will be paid as government finances improve.
“The 2009 agreement they reached that has not been implemented in 16 years, this government will work with them to ensure that this is resolved. We are meeting with our technical team to develop a counter-proposal to their own agreement and to present to ASUU.


“We urge them to be patient. We want to resolve this in a wholesome and holistic manner. We will not reach an agreement that we know is not suitable to implement,” the education minister added.

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Ojulari: NNPC’s New Ƶ Model Hinged on Value Creation, Efficiency /2025/08/26/ojulari-nnpcs-new-business-model-hinged-on-value-creation-efficiency/ /2025/08/26/ojulari-nnpcs-new-business-model-hinged-on-value-creation-efficiency/#respond Mon, 25 Aug 2025 23:02:00 +0000 /?p=1116686

Emmanuel Addeh in Abuja 


The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has reaffirmed the company’s strategic direction towards value creation, competitiveness and efficiency as the foundation of its new business model. ‎


Ojulari made this known while delivering a keynote address themed: “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investors and Incremental Production,” at the just concluded 2025 Petroleum & Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS 2025) held in Abuja.


‎Speaking on NNPC’s transformation, Ojulari underscored the company’s renewed focus on operational excellence and investor confidence, driven by the provisions of the Petroleum Industry Act (PIA) and global market dynamics.‎


‎He explained that resilience for the Nigerian oil and gas sector must translate into concrete reforms across operations, governance, and partnerships, the company said in a statement.


‎“With the PIA, we now have a framework to transform our investment climate. NNPC Limited is now operating under a new business model, focused on value creation, competitiveness, and efficiency. This includes restructuring joint ventures, monetising assets, and investing in critical infrastructure across the value chain,” Ojulari reiterated.‎


The GCEO emphasised that beyond production volumes, the future of Nigeria’s oil and gas industry rests on strong Environmental, Social, and Governance (ESG) practices, adding that global investors and communities alike now judge energy companies not only by what they produce but how responsibly they produce it.
“Today, oil and gas companies are judged not only by what they produce, but how they produce it. Environmental stewardship, social responsibility, and sound governance are now critical metrics for accessing capital, winning community support, and sustaining growth.  NNPC Limited has initiated an energy transition roadmap—reducing our carbon footprint, investing in gas as a transition fuel, and improving transparency,” he maintained.‎


Earlier, PENGASSAN President, Festus Osifo, said the long-term sustainability of Nigeria’s oil and gas industry hinges on a collective commitment to environmental stewardship, embedded in upholding robust corporate governance.

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Dangiwa: Tinubu Building 6,112 Homes, Upgraded 150 Slums, Created over 152,000 Jobs in North /2025/08/06/dangiwa-tinubu-building-6112-homes-upgraded-150-slums-created-over-152000-jobs-in-north/ /2025/08/06/dangiwa-tinubu-building-6112-homes-upgraded-150-slums-created-over-152000-jobs-in-north/#respond Wed, 06 Aug 2025 02:14:42 +0000 /?p=1110414

•Says many site workers earning about N150,000 monthly, contributing to local economy

Emmanuel Addeh in Abuja

The Minister of Housing and Urban Development, Ahmed Dangiwa, has unveiled what he termed ‘far-reaching achievements’ of the federal government in the housing sector in northern Nigeria, including the ongoing construction of 6,112 homes, upgrading of 150 slums and creation of over 152,000 jobs through housing infrastructure.

In a statement yesterday signed by the Director Press and Public Relations in the ministry, BabamasiHaiba, Dangiwa maintained that the administration of President Bola Tinubu is using housing as a transformative tool to rebuild communities, create jobs, and restore dignity in the region.

The minister declared that the ministry’s interventions are not just about physical infrastructure, but about economic empowerment and social renewal for Nigerians.

“We are not just building houses; we are rebuilding lives, restoring dignity, and laying the foundation for a more secure and prosperous North,” he stated.

In achieving the goals of the sector in the region under the ‘Renewed Hope Housing’, the ministry, he said, deployed a three-tier strategy that is already reshaping northern Nigeria’s housing landscape.

Dangiwa listed the Renewed Hope City Projects totalling 4,612 units, with Karsana in the Federal Capital Territory (FCT) having 3,112 housing units, and 1,500 units Renewed Hope City, as well as a 500-unit Estate in Kano.

Besides, he mentioned that the Renewed Hope Estate Projects , which he said have 250 units each are being delivered in Katsina, Gombe, Yobe, Sokoto, Benue, and Nasarawa, totalling 1,500 units. All the sites, he said, were integrated with road networks, water infrastructure, solar lighting, and basic social amenities.

“The planned Renewed Hope Social Housing Estates is a part of a national effort to deliver 100 affordable homes in each of Nigeria’s 774 local government areas”, he stated.

He explained that through these housing projects, the ministry has generated over 152,000 direct and indirect jobs, empowering thousands of northern youths and artisans. According to the minister, many now earn up to N150,000 monthly, contributing to local economic activity and household stability.

Dangiwa stated that the ministry is also investing in building materials manufacturing hubs across all regions to promote local content, reduce building costs, and create additional industrial jobs.

On the post-conflict resettlement initiative, the Resettlement Scheme for Persons Impacted by Conflict (RSPIC), Dangiwa highlighted that the RSPIC is a major humanitarian component of the housing programme.

The initiative, he said, aims to build 252 new homes across seven northern states of Kaduna, Katsina, Zamfara, Kebbi, Niger, Benue, and Sokoto, to rehabilitate families displaced by banditry and terrorism.

“The pilot project in TudunBiri, Kaduna State, is already underway, providing safe, decent housing for victims of the December 2023 accidental military airstrike. This is housing as healing, helping families affected by conflict reclaim stability and hope,” the minister noted.

On urban renewal and infrastructure development, he stated that through the National Urban Renewal and Slum Upgrade Programme, the Ministry has completed over 150 projects and has more than 100 ongoing across northern communities.

He listed the major intervention sites under the programme to include;Tudun Wada (Sokoto), Yankaba (Kano), and Tunga (Niger). Under the special projects unit, he stated that the ministry has delivered across the nation 71 new classrooms, 15 primary health centres, 58 boreholes and 63 rural access roads.

With over N61 billion invested, he noted that these projects have created more than 10,700 jobs and improved the quality of life in vulnerable communities.

Dangiwa also affirmed that the miinistry is scaling up efforts to deepen the reach of the programme in the region, including; New Renewed Hope Cities and Estates in additional Northern states; full implementation of the 774 local governments social housing rollout, and expansion of single-digit mortgage and rent-to-own financing.

Another plan, he said,  include the launch of building material hubs to enhance affordability and self-reliance.

“This is more than infrastructure. It’s a renewal of trust in government, a practical demonstration that President Tinubu’s Renewed Hope Agenda is delivering real change,” he stressed.

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Dangiwa: Over N70bn Private Capital Mobilised to Drive Urban Housing /2025/08/05/dangiwa-over-n70bn-private-capital-mobilised-to-drive-urban-housing/ /2025/08/05/dangiwa-over-n70bn-private-capital-mobilised-to-drive-urban-housing/#respond Mon, 04 Aug 2025 23:26:00 +0000 /?p=1109982

Emmanuel Addeh in Abuja 

The Minister of Housing and Urban Development, Ahmed Dangiwa, has stated that over N70 billion has so far been mobilised under a Public Private Partnership (PPP) to upscale Nigeria’s urban housing development.

Speaking while officially declaring open the 19th Edition of the Africa International Housing Show (AIHS), Dangiwa reaffirmed the commitment of the federal government to bridge Nigeria’s housing gap through bold, inclusive, and innovative reforms.

A statement by Special Assistant Media & Strategy to Dangiwa, Mark Chieshe, stressed that the minister noted that affordability remains the biggest barrier to homeownership on the continent, despite growing housing supply efforts.

“Across Africa, millions of families still cannot afford decent homes even when they are available. This administration is not just building houses; we are fixing the structural and macroeconomic foundations that will make housing truly affordable and sustainable for Nigerians today and in the future,” the minister said.

He highlighted the federal government’s three-tier Renewed Hope Housing Programme – comprising Renewed Hope Cities, Renewed Hope Estates, and Renewed Hope Social Housing Estates – as the blueprint for delivering affordable homes nationwide. 

“To date, over N70 billion in private capital has been mobilised under Public-Private Partnerships (PPPs) to drive large-scale urban housing developments,” Dangiwa stated.

The minister also spotlighted key interventions by the Federal Mortgage Bank of Nigeria (FMBN), including the Rent-to-Own Scheme and Rental Assistance Product, designed to ease housing pressure on urban workers and young families, as well as the upcoming MOFI Real Estate Investment Fund (MREIF) to expand access to long-term mortgage loans at affordable rates.

He further reiterated the commitment of the ministry to urban renewal and slum upgrades, aligning with the UN-Habitat Global Action Plan and the Addis Declaration on Inclusive Urban Development to ensure that “no one and no place is left behind.”

Dangiwa called on development finance institutions, donor agencies, and the private sector to partner with the federal government in transforming shared knowledge from forums like AIHS into tangible results for Nigerians.

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TCN, Kano Resolve Litigation Hindering Transmission Line Project /2025/07/29/tcn-kano-resolve-litigation-hindering-transmission-line-project/ /2025/07/29/tcn-kano-resolve-litigation-hindering-transmission-line-project/#respond Mon, 28 Jul 2025 23:31:00 +0000 /?p=1107684

Emmanuel Addeh in Abuja 

The Transmission Company of Nigeria (TCN), Kano Region, and the Kano State Ministry of Land and Physical Planning have reached an agreement to resolve legal disputes that had stalled the Kumbotso–Rimin Zakara 330kV transmission line project. 

The meeting, held last week was convened by the ministry to address litigation surrounding land ownership and compensation, which had significantly delayed progress, a statement by the TCN’s General Manager, Public Affairs, Ndidi Mbah, said.

Under the terms of the agreement, the Kano state government will compensate individuals whose cases remain under legal consideration and provide alternative land to affected parties. The resolution removes the final obstacles to the project’s completion.

“TCN is optimistic that the agreement will accelerate work on the transmission line, which is critical to improving electricity infrastructure and supporting industrial development in the northern parts of the nation. The development is a major breakthrough in the ongoing efforts to further strengthen the national grid,” it stated.

Meanwhile, TCN has announced that a vandal was electrocuted while attempting to vandalise transmission Tower 34 along the Nkalagu-Abakaliki 132kV Transmission Line in Ebonyi state.

“The body of the electrocuted vandal hanging on the tower has since been brought down. TCN has consistently warned against such acts, emphasising the potentially fatal consequences of tampering with transmission infrastructure, which carries high voltages critical to national development and poses significant risks to health and safety,” the company stated.

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TotalEnergies Maintains Buybacks Despite Profit Drop, Rising Debt /2025/07/29/totalenergies-maintains-buybacks-despite-profit-drop-rising-debt/ /2025/07/29/totalenergies-maintains-buybacks-despite-profit-drop-rising-debt/#respond Mon, 28 Jul 2025 23:31:00 +0000 /?p=1107681

Emmanuel Addeh in Abuja 

TotalEnergies has reported a 23 per cent fall in second-quarter earnings, the French oil major’s worst performance in four years, as lower oil and gas prices outweighed a rise in production and power sales.

Adjusted net income fell to $3.6 billion for the three months to June 30, down from $4.7 billion a year earlier and $4.2 billion in the first quarter, Reuters reported.

Chief Executive of the company, Patrick Pouyanne, told analysts on a call that the company could maintain shareholder returns in a low oil price environment, as several expressed concern about a sharp increase in the company’s net debt.

Brent crude prices have fallen 20 per cent from a year ago, reaching $67.9 per barrel in the second quarter of 2025, as members of the Organisation of Petroleum Exporting Countries (OPEC) and allies such as Russia started to unwind output cuts of 2.17 million barrels per day in April.

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Seplat Banks on Indigenous Capacity, Innovation to Boost Oil Production /2025/07/22/seplat-banks-on-indigenous-capacity-innovation-to-boost-oil-production/ /2025/07/22/seplat-banks-on-indigenous-capacity-innovation-to-boost-oil-production/#respond Mon, 21 Jul 2025 23:45:00 +0000 /?p=1105244

Emmanuel Addeh in Abuja 

Seplat Energy Plc, has reinforced its commitment to responsible leadership and sector transformation, noting that with its indigenous capacity and deployment of innovative strategies, it was set to markedly impact the oil sector in the country positively.

Participating in the 13th Annual ƵDay CEO Forum Nigeria, with the theme, “Nigeria: From Reform to Recovery,” Seplat Energy’s Chief Executive Officer, Mr. Roger Brown, represented by the company’s Chief Operating Officer, Mr. Samson Ezugworie, underscored the increasing role of indigenous companies, and how Seplat has been leveraging technology to enhance operations and build in-country capacity.

The 2025 edition of the CEO Forum brought together senior government officials, investors, corporate leaders and experts to discuss Nigeria’s ongoing reforms, and share strategic insights for national renewal and sustainable economic growth.

Brown was a panelist on one of the high-level sessions with the sub-theme: “Oil and Gas in Transition – Reforms, Recovery and Deals That Matter”.

He shared perspectives on Nigeria’s oil and gas transformation, the increasing role of indigenous companies, and how Seplat has been leveraging technology to enhance operations and build in-country capacity.

“If you look at the trajectory, I would personally say that the outlook is very excellent, and we are well-positioned for a transformative oil and gas industry,” Brown stated, according to a statement from the organisation.

“Nigeria is rich in both oil and gas resources — with over 200 trillion cubic feet of gas — we are in the right place. We are also seeing international oil companies exiting the onshore and shallow water areas and transferring them to indigenous players,” he added

Earlier, Publisher and CEO of ƵDay Media Limited,Frank Aigbogun,  welcomed guests with a compelling address that framed the tone of the forum. He noted the theme of this year’s CEO Forum — “Nigeria: From Reform to Recovery”, as ƵDay has a duty not only to report, but also to point the way to the future.

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Nigeria Misses Budget Oil Output Target by Over 70m Barrels in H1 /2025/07/22/nigeria-misses-budget-oil-output-target-by-over-70m-barrels-in-h1/ /2025/07/22/nigeria-misses-budget-oil-output-target-by-over-70m-barrels-in-h1/#respond Mon, 21 Jul 2025 23:42:00 +0000 /?p=1105240

Emmanuel Addeh in Abuja 

Nigeria underperformed its 2025 budget crude oil production target in the first half of 2025 by over 70 million barrels or about 19 per cent, a shortfall that may compound the federal government’s fiscal challenges and undermine key economic projections for the year.

Data obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that the country pumped a total of 303,194,677 barrels of crude and condensates from January to June 2025.

Ƶ’s checks indicated that this figure fell significantly below the government’s projected benchmark of 2.06 million barrels per day, which would have yielded approximately 373.86 million barrels over the same period.

The actual shortfall of about 70.67 million barrels, based solely on crude and condensate production, does not take into account possible additional losses from shut-ins, theft, sabotage, or deferred output due to operational setbacks. 

A detailed breakdown from the NUPRC data showed that Nigeria produced 53,861,877 barrels in January; 46,824,697 barrels in February; 49,717,065 barrels in March; 50,499,206 barrels in April; 51,380,475 barrels in May; and 50,911,357 barrels in June. 

On the average, the country produced about 1.67 million barrels per day during the six-month period, well below the budget assumption of 2.06 million barrels per day budget benchmark for the period.

Although the federal government has said that there’s no cause for concern, the underperformance has recently sparked concerns across economic and policy circles, as crude oil earnings remain the bedrock of Nigeria’s foreign exchange inflow and government revenues, even in an era of expanding focus on non-oil sources.

Using a conservative average Brent crude price of $72 per barrel for the period, Nigeria’s estimated revenue loss from the H1 2025 production shortfall of about 70.67 million barrels, that is, covering January to June was approximately $5.09 billion, based on the volume gap alone. 

The actual impact could be even larger when fiscal oil terms, crude differentials, and production sharing contracts are factored in. While the federal government had banked on increased output to drive key infrastructure spending and fund critical budgetary items, the shortfall risks putting pressure on external borrowing, the value of the naira, and debt servicing capabilities.

The International Monetary Fund (IMF) earlier in the month raised concerns over the issue, saying that it expects the gulf between this year’s budgetary spending and revenue of Africa’s biggest oil producer to widen further in the face of geopolitical threats to the prices of crude, which contributes around two-thirds of government income.

“Downside risks have increased with heightened global uncertainty,” the Fund stated in its periodic review of economic developments in the country. “A further decline in oil prices or increase in financing costs would adversely affect growth, fiscal and external positions, undermine financial stability and exacerbate exchange rate pressures,” the IMF added in the document titled “Nigeria: 2025 Article IV Consultation.”

It alerted authorities to the danger that Nigeria’s financing needs and fiscal position may vary from forecasts, should the government fail to revise the budget and announce new targets for its spending plan.

In the same vein, Nigeria only struggled to meet its Organisation of Petroleum Exporting Countries (OPEC) quota this June, having consistently failed to do so for a long time, specifically since January when it temporarily achieved the feat.

In January it produced 1.53 million bpd; 1.46 million bpd in February; 1.4 million bpd in March; 1.48 million bpd in April; 1.45 million bpd in May before it finally touched the 1.5 million bpd this June. While OPEC does not calculate condensate, Nigeria adds it to its targeted oil output yearly.

Adding to these worries, the World Bank recently warned that Nigeria faces a growing risk of a widening budget deficit if oil production continues to underperform. 

In May, the World Bank described Nigeria’s 2025 federal budget as overly ambitious, warning that the federal government may be forced to turn to the Central Bank of Nigeria’s Ways and Means facility to finance likely revenue shortfalls.

Giving the warning during the public presentation of its Nigeria Development Update report titled ‘Building Momentum for Inclusive Growth’ in Abuja, the Bank said that despite strong revenue gains recorded in 2024, Nigeria’s 2025 budget assumptions remain optimistic and may prove difficult to meet.

He said, “It’s a very ambitious budget. Even with the very positive revenue sort of tailwind that we have… even considering that, it looks like it’s going to be pretty hard to meet some of the ambitious revenue targets that are in there,” the Bank added.

The concerns are not without precedent. In recent years, Nigeria has repeatedly missed oil output benchmarks, leading to sharp revisions in its Medium-Term Expenditure Framework (MTEF). In 2022, for example, Nigeria’s actual crude production dropped to multi-decade lows, dipping below 1 million barrels per day in some months due to theft and pipeline shutdowns.

Several factors continue to undermine Nigeria’s ability to meet production benchmarks. Chief among them are insecurity and oil theft in the Niger Delta region, which has led to persistent pipeline vandalism and production shut-ins; aging infrastructure and delays in finalising repairs on key crude evacuation routes.

President Bola Tinubu signed the 2025 Appropriation Act into law, approving a record budget of N54.99 trillion, the highest in Nigeria’s history. The budget was raised from the initial proposal of N49.7 trillion submitted to the National Assembly.

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Ekiti Eyes 120mw by 2030, Signs MoU with REA /2025/07/17/ekiti-eyes-120mw-by-2030-signs-mou-with-rea/ /2025/07/17/ekiti-eyes-120mw-by-2030-signs-mou-with-rea/#respond Thu, 17 Jul 2025 05:25:11 +0000 /?p=1103895

•Spends N4bn on power supply infrastructure

Emmanuel Addeh in Abuja

The Ekiti state government yesterday said that it remained committed to achieving a 120mw daily electricity supply by 2030 as against the current grid-supplied power of roughly 25mw, which it said is grossly inadequate for the development of the state.

Speaking in Abuja during the signing of a Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) for the implementation of off-grid electricity projects across the state, Governor Biodun Oyebanji stated that despite spending about N4 billion on fixing electricity in Ekiti, a large number of households remain without power due to national grid challenges.

Coming under the REA’s state-by-state roundtable engagement, the agreement is to accelerate energy access to unserved and underserved communities in the state, and to ramp up rural economic activities through access to sustainable and reliable off-grid power supply.

The programme was tagged: “Leveraging Public-private Partnership for Scalable Energy Access Infrastructure in Ekiti” and had in attendance top officials of the state government as well as the leadership of the REA.

Oyebanji, who said he sat through the over four-hour session due to its importance, stressed that the meeting was not just about discussions on electricity or renewables, but about lighting up homes, powering the state’s economy and creating a future where no community is left in the dark.

“We remain resolute in our drive to achieve 120mw through the contributions of these investments by 2030, thereby closing the energy gaps of the state. I want to assure you that we are hoping for further collaborations such as the ones that REA offers in isolated power plants, integrated grid, and integrated grid energy solutions,” he stated.

To demonstrate his commitment to achieving energy independence, in line with the enactment of the Electricity Act (EA) of 2023, the governor stated that licences had since been granted to four distribution companies, four generation companies, four mini-grid generation companies, 11 meter assets providers, and one independent electricity distribution network.

He highlighted that a significant population in Ekiti state still needs access to reliable power, disclosing that his administration has spent over N4 billion  to improve electricity supply in the state since he took the reins of governance in the state.

This effort, according to him, has seen several unserved communities getting reconnected to the national grid after years of blackout, enabling some underserved communities to be better served, easing the burden on entrepreneurs and fostering business growth.

Besides, the governor said his administration, through a Public Private Partnership (PPP) arrangement has in operation an Independent Power Project (IPP) facility providing 2.6mw to government facilities.

In the same vein, he said the state is investing in solar power infrastructure to provide reliable electricity to the general hospitals, primary health care facilities and public schools, to boost efficient service delivery.

He further explained that his government has initiated measures that have put prepaid meters in the homes of thousands of consumers in the state, thereby reducing the 80 per cent metering gap and eliminating estimated billing.

Oyebanji described the partnership as a game-changer, adding that his government will leverage on the opportunities provided by REA to catalyse and unlock private capital development energy sufficiency in the state.

He lauded the REA for its consistent efforts in bridging the energy gap across the country, explaining that through the government’s effort, over 40 towns have been connected to the national grid.

“I am extremely pleased to address the esteemed stakeholders participating in today’s Strategic Roundtable Event with the Renewable Energy Agency focusing on Ekiti state. This event is to facilitate the acceleration of energy access to unserved and underserved communities in Ekiti State, and to jumpstart rural economic activities through access to sustainable and reliable power supply.

“Today’s event is not simply about discussions on electricity, power, energy, or their renewable forms, it is about our people. It is about lighting up homes, powering the state’s economy and creating a future where no community is left behind

“We have taken visible steps in upgrading electricity infrastructure across the state, a process that has seen several unserved communities getting reconnected to the national grid after decades of blackout, and enabling some underserved communities to be better served.

“This, in no small measure, has eased the burden on entrepreneurs and foster business growth. Through this effort, over 40 towns have been connected to the national grid,” Oyebanji stated.

Also speaking, the Managing Director of the REA, Abba Aliyu, lauded Oyebanji for prioritising rural electrification as a key component of his development agenda, and putting the right policies and institutional framework in place to drive energy access.

While explaining that the REA with Ekiti state government would not only bring about a transformative change in the state’s energy landscape,  Aliyu explained that the collaboration is designed to extend reliable electricity to rural and underserved communities through off-grid solutions.

 “We are one of the few government agencies that will come to you and tell you that our problem is not funding, we have money. And we are not ashamed to say that we have funding. Our main thing is creating an innovative environment, leveraging on the work of the REA to drive our economy to create sustainable development in the states. And this is exactly why we are having this negotiation,” Aliyu said.

Aliyu highlighted the mapping of the communities in the state as well as the entire country, stressing that this is important to ensure data-driven information.

Earlier, the Commissioner for Infrastructure and Public Utilities, Prof. Mobolaji Aluko,  described the partnership with the REA as a milestone achievement in the state’s drive towards universal energy access.

He said the collaboration aligned with the state government’s strategic infrastructure plan, which according to him, prioritises the extension of electricity to all communities, particularly rural and economic viable areas

Aluko asserted that the state government has invested heavily in grid extension and other electricity interventions,  stressing that the partnership with REA would further complement efforts of the state government to improve electricity access thereby resulting in tangible benefits for the residents.

In her presentation, the Executive Director, Rural Electrification Fund (REF), Doris Uboh, highlighted the need to provide electricity for productive uses, including in agriculture infrastructure,  to support post-harvest preservation of produce and reduce spoilage.

As for transportation, she said the REA was adopting e-mobility solutions to help improve rural transportation and enable the smooth, effective movement of goods and people both within and between communities.

Also, Head of Project Management Unit, REA, Olufemi Akinyelure, stated that the activities of the REA have positioned Nigeria as a leader on the continent in terms of energy access.

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NNPC Alleges Coordinated Sabotage Campaign  /2025/07/01/nnpc-alleges-coordinated-sabotage-campaign/ /2025/07/01/nnpc-alleges-coordinated-sabotage-campaign/#respond Mon, 30 Jun 2025 23:54:00 +0000 /?p=1098217

Emmanuel Addeh in Abuja 

The Nigerian National Petroleum Company Limited (NNPC) has said that it uncovered an emerging coordinated sabotage campaign being waged by what  it described as syndicate of known and faceless actors, both outside and within various levels of the organisation.

This group, the national oil company stressed, is actively spreading lies and misinformation simply to discredit NNPC’s leadership and derail the organisation’s ongoing ‘’transformation into a corruption-free, performance-driven energy company.”

According to a statement from the NNPC, their tactics include planting scandalous and fabricated reports, curated to distract leadership, mislead the public, and undermine the commitment of its workforce and reform-minded Nigerians.

“These are calculated efforts by those who feel threatened by reform, transparency, accountability, and change—clear evidence of the lengths to which they will go to obstruct the transformation of Nigeria’s foremost energy institution.

“We expect a surge of defamatory content in the days and weeks ahead. NNPC Ltd. remains undeterred. The transformation is underway, and no amount of sabotage will stop it.We urge our dedicated staff, stakeholders, and all patriotic Nigerians to stay focused, ignore the noise and not be discouraged. We remain on mission,” it added.

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Nigeria Keeps Flared Gas at 7.5% as Global CO2 Emissions Hit Record Highs /2025/07/01/nigeria-keeps-flared-gas-at-7-5-as-global-co2-emissions-hit-record-highs/ /2025/07/01/nigeria-keeps-flared-gas-at-7-5-as-global-co2-emissions-hit-record-highs/#respond Mon, 30 Jun 2025 23:54:00 +0000 /?p=1098212

Emmanuel Addeh in Abuja 

Nigeria’s oil and gas sector has managed to keep its flared gas at an average of  7.5 per cent monthly amid worsening global carbon emissions from the energy sector, which hit a record high for the fourth year running in 2024, Ƶ’s checks have shown.

Specifically, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that throughout 2024, the country stabilised the volume of gas flared at 7.69 per cent, while so far in 7.33 per cent.

But despite the energy transition conversation, fossil fuel use continues to rise, although renewable energy also grew to a record high, data from the Energy Institute’s annual statistical review of world energy showed. The Energy Institute’s is UK’s foremost chartered organisation for energy experts.

The report’s figures highlighted the challenge of trying to wean the world economy off fossil fuels, with last year being the hottest year on record, and global temperatures exceeding 1.5 C or 34.7 F above the pre-industrial era for the first time.

In the same vein, the world saw a 2 per cent annual rise in total energy supply in 2024, with all sources of energy such as oil, gas, coal, nuclear, hydro and renewable energy registering increases, which last occurred in 2006, the report said.

This led to carbon emissions increasing by around 1 per cent in 2024 and exceeding the record level set the previous year at 40.8 gigatonnes of carbon dioxide equivalent.

Of all the global fossil fuels, natural gas saw the biggest increase in generation, growing 2.5 per cent, while coal grew by 1.2 per cent to remain the largest source of generation globally, as oil growth was under 1 per cent.

A breakdown of the NUPRC data showed that in January, February and March last year, Nigeria’s gas flare was 8.28 per cent, 8.18 per cent and 7.64 per cent respectively. 

Besides in April, May and June, the gas flared was: 7.58 per cent, 7 per cent and 7.07 per cent and further decreasing to 6.84 per cent, 7.45 per cent and 7.15 per cent compared to the previous quarter.

Also, in the last quarter of 2024, the volume of gas flared was: 8.2 per cent, 7.97 per cent and 8.85 per cent respectively.

Besides, in the first four months spanning January to April, the percentage of gas flared was: 7.3 per cent, 7.8 per cent, 7 per cent and 7.2 per cent.

Nigeria, Africa’s top oil producer and home to some of the world’s largest gas reserves, has long struggled with the paradox of flaring vast volumes of natural gas while millions of its citizens remain without access to clean cooking or stable electricity.

The flared volumes, often a by-product of oil production in remote or underdeveloped fields, represent not just a climate concern but a colossal economic loss.

However, the 7.5 per cent flare rate suggests that the country’s efforts, anchored on regulatory tightening, monetisation incentives, and increased investor engagement are gradually making headway.

From a peak of over 2 billion standard cubic feet per day flared two decades ago, Nigeria’s consistency in keeping flare levels below 10 per cent for three consecutive years signals a shift in corporate behaviour and regulatory pressure.

Since the passage of the Petroleum Industry Act (PIA) in 2021, operators are now subject to stricter gas utilisation mandates and penalties for unlicensed flaring. Additionally, the government has awarded several flare gas commercialisation licenses to independent companies under a dedicated programme aimed at turning waste into wealth.

Under the Nigerian Gas Flare Commercialisation Programme (NGFCP), investors are offered access to flare sites through transparent bidding, with the promise of using captured gas for downstream purposes like compressed natural gas (CNG), liquefied petroleum gas (LPG), and electricity generation.

As per wind and solar energy, the report showed that it expanded by 16 per cent in 2024, nine times faster than total energy demand, the Energy Institute’s  said.

Analysts tracking progress said the world is not on course to meet a global goal of tripling renewable energy capacity by 2030 despite record amounts being added.

“Last year was another turning point for global energy, driven by rising geopolitical tensions,” Romain Debarre of consultancy Kearney, one of the authors of the report, said in a release.

“COP28 set out a bold vision to triple global renewables by 2030, but progress is proving uneven and despite the rapid growth we have seen globally we are still not at the pace required,” said Wafa Jafri, a partner at KPMG.

COP28 was the United Nations Climate Change Conference that took place in Dubai in 2023, at which countries signed a pact to transition away from fossil fuels in energy systems to achieve net-zero emissions by 2050.

Still, in Nigeria, despite the progress so far, challenges persist. Many of the country’s flare sites are in swampy or security-prone areas where infrastructure is poor and evacuation costs are high. Also, the lack of robust gas pipelines across production belts limits options for reinjection or monetisation. 

Despite these barriers, the relative stability in flare rates stands in stark contrast to the broader global climate picture.

The institute’s report also aligned with that by the International Energy Agency (IEA), which agreed that carbon dioxide emissions from energy use and industry reached an all-time high in 2024, driven largely by rebounding economic activity, increased air travel, and a slow global transition away from coal. 

While some advanced economies are cutting emissions, major developing countries continue to expand fossil fuel use to meet growing energy demand.

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TCN Adds 120MW to National Power Transmission Grid /2025/07/01/tcn-adds-120mw-to-national-power-transmission-grid/ /2025/07/01/tcn-adds-120mw-to-national-power-transmission-grid/#respond Mon, 30 Jun 2025 23:52:00 +0000 /?p=1098216

Emmanuel Addeh in Abuja 

The Transmission Company of Nigeria (TCN) has said that with the activation of two newly installed power transformers at its 330/132/33 kilovolt Birnin Kebbi Transmission Substation in Kebbi State, 120mw has been added to the national grid.

General Manager, Public Affairs of the TCN, Ndidi Mbah,  in a statement in Abuja, said the 100 megavolt-amperes, MVA and 150 MVA transformers were energised at 1:18 pm and 2:56 pm, respectively, on Friday, June 27, 2025.

She stated that the installation of the additional transformers has increased the substation’s capacity from 300 MVA to 450 MVA.

As a result, the Kaduna Electricity Distribution Company, TCN said, now has an additional 120mw of bulk power for distribution to its customers across Kebbi, Sokoto, and surrounding areas. 

The company further stated that the development also enables TCN to maintain normal bulk power supply to Niamey, Niger Republic. “We are committed to the continued expansion and maintenance of the nation’s transmission system to ensure a more effective and efficient bulk power transmission nationwide,” the statement added.

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FG Targets Distribution of 5m LPG Cylinders by 2030 /2025/07/01/fg-targets-distribution-of-5m-lpg-cylinders-by-2030/ /2025/07/01/fg-targets-distribution-of-5m-lpg-cylinders-by-2030/#respond Mon, 30 Jun 2025 23:52:00 +0000 /?p=1098214

Emmanuel Addeh in Abuja 

The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has flagged off the North-west zone grassroots Liquefied Petroleum Gas (LPG) penetration programme and cylinder distribution initiative in Sokoto State. 

The programme which aims to promote the use of clean cooking gas across the country, is targeting 5 million Liquefied Petroleum Gas (LPG) cylinders penetration by 2030.

“We are immensely proud to bring the next phase of this initiative to the North-west Zone,” Ekpo said at the event held at the Sokoto State International Conference Centre, according to his spokesman, Louis Ibah.

The programme, he said , has already been launched in the South-west, South-south, and North-east zones, following its successful launch in Abuja in May 2024.

Ekpo announced that the federal government has revised its target upwards to distribute 5 million LPG cylinders by 2030, with an average of 1 million households being converted per annum over the next five years. 

“This zone, with its vibrant communities, cultural depth, and entrepreneurial energy, plays a pivotal role in helping us achieve that target,” he added.

Ekpo explained that the initiative is designed to have a multifaceted impact, “protecting the health of our women and children by reducing indoor air pollution, creating jobs and livelihoods along the LPG value chain.”

According to him, it will also strengthen local enterprise through support for Nigerian manufacturers and distributors, and preserving the environment by curbing deforestation and reducing greenhouse gas emissions.

“I urge beneficiaries to use them responsibly, promote their use in your communities, and become ambassadors of clean energy in your homes and neighbourhoods,” he stated.

Ekpo thanked the Governor of Sokoto State, Ahmed Aliyu, for the warm reception and ongoing support for energy development in the state. 

He also acknowledged the Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar III, for his commitment to the wellbeing of the people.

The minister commended the Coordinator of the Decade of Gas Secretariat for their dedication and strategic leadership in driving the initiative forward and expressed appreciation to BUA Group, the main sponsor of the LPG cylinder distribution.

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June 12: Abubakar Umar Reveals Names of 38 Unsung Military Officers Who Backed MKO Abiola /2025/06/30/june-12-abubakar-umar-reveals-names-of-38-unsung-military-officers-who-backed-mko-abiola/ /2025/06/30/june-12-abubakar-umar-reveals-names-of-38-unsung-military-officers-who-backed-mko-abiola/#comments Mon, 30 Jun 2025 02:15:43 +0000 /?p=1098039

*Lists Lawal Jaafaru Isa, Sambo Dasuki, Lawan Gwadabe, Isa Jibrin, Olagunsoye Oyinlola amongst others

Emmanuel Addeh in Abuja

Ex-military officer and one of the persons who fought for the restoration of the June 12, 1993 presidential mandate largely believed to have been won by Moshood Abiola, Col. Abubakar Umar (rtd), yesterday  listed 38 unsung personnel who supported the acclaimed winner of the poll.


In a statement, Umar, who accepted the national honour bestowed on him by President Bola Tinubu, stated that although the list was not exhaustive,  the contributions of the ‘patriots’ needed to be acknowledged.


According to him, most of the 38 officers risked their lives and their careers in pursuit of the truth which the Abiola election represented.


“When the President called to inform me of his decision to magnanimously confer on me the the National Award of Commander of the Federal Republic (CFR) on account of my much advertised role in the struggle for the validation of the June 12th election and affirmation of Chief MKO Abiola’s mandate, my first reaction was why only me and not all those unsung heroes.


“Those officers and men who actively participated in that struggle, risking their careers and even lives. Although I was one of the leaders of that movement within the military, my contribution was by no means bigger than theirs. While I have been recognised and celebrated, including this National Honour by the President, they have remained anonymous.


“It is therefore incumbent upon me to reveal the identity of these patriots if only to acknowledge and commend their contributions to the emergence of the current democratic dispensation,” Umar noted.


Earlier, the President bestowed national honours on several persons believed to have fought for the restoration of June, but was accused of missing out certain other important individuals. However, days later the President sought to correct the mistake by bestowing a CFR on Umar.


According to Umar, top on the list was his deputy at the Armoured Corps Centre and School, Col MA Garba, whose commitment was so strong that he continued with the execution of his plans after some of them were arrested, detained and retired in October, 1993.


According to him, Garba went on, as he should, to attain the enviable rank of a Major General in the army.


Others, according to Umar, were: Lt Col Lawal Jaafaru Isa;  Lt Col UF Ahmed; Lt Col MS Dasuki; Lt Col ML Gwadabe; Lt Col J. Temlong; Lt Col Musa Shehu; Lt Col Chris Eze; Lt Col HM Dzarma and Lt Col Isa Jibrin.


Also listed were: Lt col JOS Oshanupin; Lt Col A Oloruntoba(kabiesi Olugbede of Gbede kingdom); Lt Col Moke; Lt col Happy Bulus; Lt col Olagunsoye Oyinlola; Col J Okai; Col E. Ndubueze; Lt Col Yakubu Muazu; Lt Col Yahaya Abubakar ( current Etsu Nupe) and Maj. Saad Abubakar (current Sultan of Sokoto).


Besides, he mentioned Maj Abba Maimalari; Maj Jamil Tahir; Maj Buzugbe; Maj LP Aprezi; Maj MK Yake; Maj J Dawah; Maj Suleiman Wali; Maj Dauda Komo; Maj Lucky Torrie; Maj JS Zaruwa; Maj M Sumaye; Maj Sani Bawa; Maj Ndaliman; Maj Ahmed; Maj M Bawa; Lt Col JB Ahmadu; Capt Junaid Bindawa and Capt Lar.
According to him, the fact that Abiola, the presumed winner of the June 12 election won over 80 per cent of the Armed Forces votes, clearly demonstrated the contribution of the other members of the military. “I should add that this list is by no means exhaustive,” he stressed.


Umar stated that there were a lot more participants who remained unknown to him since they served under others and apologised to all those whose names he must have missed.


“May God recognise and reward your sacrifice. I therefore accept this award with all sense of humility on behalf of all these officers and men. Obviously, it goes without saying that this award will be doubly more meaningful if the democracy we all fought for delivers the real dividends.


“This can happen only if leaders at all levels govern with the fear of God and in accordance with the tenets of democracy. It remains the hope and prayers of all patriots that nothing is done to derail this infant democracy. To achieve the stability and progress of our democracy, leaders must prioritise good governance over politicking for self aggrandizement,” he added.


For Umar, the three co-equal branches of government must operate independently while cooperating with each other, urging President Bola Tinubu to shun all traces of sycophancy, especially coming from top government officials like the Senate President, Godswill Akpabio.


He stated that one enduring lesson from the conduct of the officers and men is their decision to operate above sycophancy but to hold their superior officers to account, explaining that sadly, this does not appear to have a positive impact on the country’s political leaders.


“Sycophancy everywhere has become the scourge of selfless and accountable leadership. It is the reason for the arrogance and vanity we see in our leaders at all levels. Men of straw are widely and falsely being elevated to the position of icons by self seeking sycophants.


“Mr President must lead in a war against sycophancy in all its forms. This must allow for no exceptions including the rapidly growing trend of naming and renaming public institutions, facilities and other infrastructure after a President or State Governor while in office.


“The other day, the Senate President was reported to have predicted that President Bola Tinubu would win the 2027 election with 99.9 per cent of the votes! Even allowing for the fact that this Senate President is widely known for his humorous incitement, Mr President will do well to shun such oracles,” he stated.

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Dangote Plans Listing of Africa’s Biggest Oil Refinery by Next Year /2025/06/28/dangote-plans-listing-of-africas-biggest-oil-refinery-by-next-year/ /2025/06/28/dangote-plans-listing-of-africas-biggest-oil-refinery-by-next-year/#comments Sat, 28 Jun 2025 04:20:58 +0000 /?p=1097481

*Says continent will be self-sufficient in cement production in 40 months

Emmanuel Addeh in Abuja

President of Dangote Group, Aliko Dangote, plans a stock market listing for his Nigerian crude oil refinery by the end of next year to widen the company’s investor base, a Bloomberg report said yesterday.


The billionaire also plans this year to list the group’s urea plant, which has a capacity to produce 2.8 million tons of the crop nutrient per annum, Dangote told the African Export-Import Bank’s annual general meeting in Nigeria’s capital, Abuja.


The oil facility can process 650,000 barrels of crude a day, making it the continent’s biggest refinery.


A listing — through an initial public offering — could help woo investors including state-owned pension funds, the Bloomberg report added.


The $20 billion Dangote Refinery outside the commercial hub Lagos, which became operational last year, currently produces aviation fuel, naphtha, diesel and gasoline.


It’s “important to list the refinery so that people will not be calling us a monopoly,” Dangote said. “They will now say we have shares, so let everybody have a part of it,” he added.


The tycoon, who had planned to start construction of a 5,000 ton steel plant after completing the refinery, last year scrapped the proposal because of the allegations of monopoly.


Dangote earlier this year said his group was on track to generate a total revenue of $30 billion in 2026. Yesterday, he said that the company plans to surpass Qatar as the world’s biggest exporter of urea within four years. The facility currently exports 37 per cent of its output to the US.


Besides, Dangote pledged that Africa will be self-sufficient in fertiliser within 40 months, especially on the basis of a planned expansion of his $2.5 billion plant on the outskirts of Lagos.


Africa currently imports over six million metric tons of fertiliser annually as it struggles to produce enough food in often challenging growing conditions.
The benefits of increasing domestic production would include reduced foreign exchange expenditure, which has been a major economic burden in Nigeria because of the weakness of the local currency, Reuters reported.


“In the next 40 months, Africa will not import fertiliser from anywhere. We have a very aggressive trajectory right now. We want to put Dangote to be the highest producer of urea, bigger and higher than Qatar – give me 40 months,” Dangote said at the meeting.


Dangote runs Africa’s largest granulated urea complex, which has an annual capacity of 3 million tons, 37 per cent of which it exports to the United States. It will need to double current output to achieve his ambition. Dangote has said he is not worried about the impact of Trump tariffs.


Analysts say the market outlook for fertiliser is bullish, but there are also challenges and the kind of expansion Dangote seeks requires infrastructure to be built, the Reuters report added.


“Any new fertiliser plant or expansion project faces cost overrun risks to the producer,” Senior Equity Analyst at Morningstar Research, Seth Goldstein said.
Also, an analyst at global risk consultancy, Control Risk, Mikolah Judson, cited the need for “transport infrastructure and port capacity,” saying “bottlenecks routinely delay various import and export projects in Nigeria”.


Dangote has a track record for delivering big projects. He also owns the Dangote Petroleum Refinery, Africa’s largest, although its launch was repeatedly delayed and it exceeded its initial budget.

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Dangote Fulfills Pledge to ‘Shakedown’ Downstream Sector, Set to Begin Fuel Distribution Nationwide /2025/06/16/dangote-fulfills-pledge-to-shakedown-downstream-sector-set-to-begin-fuel-distribution-nationwide/ /2025/06/16/dangote-fulfills-pledge-to-shakedown-downstream-sector-set-to-begin-fuel-distribution-nationwide/#respond Mon, 16 Jun 2025 03:08:43 +0000 /?p=1093355

*Deploys 4,000 CNG tankers to enhance operation 

*Says offer open to marketers, petrol dealers, others 

 Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

Africa’s richest man, Aliko Dangote yesterday fulfilled a promise to significantly ‘shakedown’ the downstream petroleum sector, with the company announcing that the 650,000 barrels per day Dangote Petroleum Refinery will commence direct distribution of  fuel nationwide from August.


Chairman of the Dangote Group had last week pledged to  President Bola Tinubu and Nigerians that there will be a major overhaul of the downstream sector, following the visit of the Nigerian leader to the $20 billion facility located in Lagos.


“Now that the President has visited and he has given us additional energy, we will inform you, you will hear from us soon, and that will be one of the major shakedowns in the entire country. It is not the reduction of price, it will be the total overhaul of the downstream,” he stated.


In a statement, the company stated that effective August 15, 2025, it would begin the distribution of Premium Motor Spirit (PMS) commonly known as petrol, and diesel to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country. The company said the arrangement comes with free logistics to boost the distribution network.


To ensure smooth take-off of the scheme, Dangote Refinery said it had invested in the procurement of 4,000 brand-new Compressed Natural Gas (CNG) powered tankers. It said that this phase of the programme would continue over an extended timeframe.  


According to the statement, the refinery is also investing in CNG stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.


“This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability, and supporting Nigeria’s economic development. It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the wellbeing of all Nigerians.


“Under this initiative, all petrol stations purchasing PMS and diesel from the Dangote Petroleum Refinery will benefit from this enhanced logistics support. Key sectors such as manufacturing, telecommunications, and others will also gain from this transformative initiative, as reduced fuel costs will contribute to lower production costs, reduced inflation, and foster economic growth. Players in these key sectors and others can purchase directly from the Dangote Petroleum Refinery.


“In addition, the refinery will offer a credit facility to those purchasing a minimum of 500,000 litres—allowing them to obtain an additional 500,000 litres on credit for two weeks, under bank guarantee. This pioneering effort marks a major milestone in our vision to revolutionise Nigeria’s energy sector,” the company added.
Stressing that it was dedicated to ensuring that no place was left behind, it pointed out that “Our goal is to provide equitable access to affordable fuel for all Nigerians, regardless of location, making energy more accessible and sustainable for everyone, wherever they may be.”


The company said the move was expected to revitalise previously inactive petrol stations, thereby driving job creation, stimulating small and medium-sized enterprises (SMEs), increasing government revenue, improving fuel access in rural and underserved communities, and strengthening investor confidence in Nigeria’s downstream petroleum sector.


It added that the initiative was inline with the Renewed Hope Agenda of President Bola Tinubu, reflecting the company’s shared commitment to economic progress, stability, and inclusive development.


“We sincerely thank the federal government for its continued support, especially through the Naira-for-Crude scheme, which has helped stabilise fuel supply amid global price volatility. It marks a major revolution in the midstream and downstream sectors and stands as a key example of President Bola Tinubu’s bold and reformative economic policies.


“We invite marketers, petrol dealers, manufacturers, telecom companies, and all key stakeholders to embrace this landmark initiative.  The registration process, including Know Your Customer (KYC) verification, will take place from 16 June to 15 August, spanning a total of 60 days”, the Dangote Refinery stated.

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Trump Considers Inclusion of Nigeria, 35 Other Countries on Travel Ban List /2025/06/15/trump-considers-inclusion-of-nigeria-35-other-countries-on-travel-ban-list/ /2025/06/15/trump-considers-inclusion-of-nigeria-35-other-countries-on-travel-ban-list/#comments Sun, 15 Jun 2025 04:32:56 +0000 /?p=1093119

*African nations constitute nearly 70% of new line-up*US gives affected countries 60 days to meet new benchmarks

Emmanuel Addeh in Abuja

The United States is currently weighing the restriction of entry to citizens of an additional 36 countries, including Nigeria, in what would be a significant expansion of the travel ban announced by President Donald Trump’s administration early this month.


A State Department memo reviewed by The Washington Post indicated that among the new list of countries that could face visa bans or other restrictions are 25 African nations, constituting roughly 70 per cent, according to a Ƶ assessment.


They also include so-called significant US partners such as Egypt and Djibouti, plus countries in the Caribbean, Central Asia and several Pacific Island nations.
A State Department spokesperson said the agency would not comment on internal deliberations or communications.


The White House did not immediately respond to a request for comment, the report said.


The move would mark another escalation in the Trump administration’s aggressive crackdown on immigration, a major plank during his campaign for the presidency.


The memo, which was signed by Secretary of State, Marco Rubio, and sent to US diplomats who work with the countries yesterday, said the governments of listed nations were being given 60 days to meet new benchmarks and requirements established by the State Department.


It set a deadline of 8 a.m. Wednesday for them to provide an initial action plan for meeting the requirements.


The memo identified varied benchmarks that, in the administration’s estimation, these countries were failing to meet.


Some countries had “no competent or cooperative central government authority to produce reliable identity documents or other civil documents,” or they suffered from “widespread government fraud.”


Others had large numbers of citizens who overstayed their visas in the United States, the memo said.


Other reasons included the availability of citizenship by monetary investment without a requirement of residency and claims of “antisemitic and anti-American activity in the United States” by people from those countries.


The memo also stated that if a country was willing to accept third-country nationals who were removed from the United States or enter a “safe third country” agreement, it could mitigate other concerns.


It was not immediately clear when the proposed travel restrictions would be enforced if the demands were not met, The Washington Post’s report said.


Apart from Nigeria, other countries facing scrutiny in the memo include: Angola; Antigua and Barbuda; Benin; Bhutan; Burkina Faso; Cabo Verde; Cambodia; Cameroon; Democratic Republic of Congo; Djibouti; Dominica; Ethiopia; Egypt; Gabon and Gambia.


Others include: Ghana; Ivory Coast; Kyrgyzstan; Liberia; Malawi; Mauritania; Niger; Saint Kitts and Nevis; Saint Lucia; Sao Tome and Principe; Senegal; South Sudan; Syria; Tanzania; Tonga; Tuvalu; Uganda; Vanuatu; Zambia; and Zimbabwe.


The list represents a significant expansion of a presidential proclamation issued June 4, when the US fully restricted the entry of individuals from Afghanistan, Myanmar, Chad, Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen.


The US also had partially restricted the entry of travellers from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela under that order.


Democrats and other critics of the Trump’s administration have described its efforts to issue blanket travel bans on selected nations as xenophobic and bigoted, pointing to President Trump’s efforts to block travel from Muslim-majority nations in his first term and the high number of African and Caribbean nations targeted during this term.


Early in his first term, Trump attempted to restrict travel from Iran, Iraq, Syria, Somalia, Sudan, Yemen and Libya. The initial version of the ban caused confusion and chaos at airports.


It faced numerous legal challenges until the Supreme Court upheld the third version of it in June 2018.


While the travel ban was rescinded under President Joe Biden’s administration, Trump repeatedly pledged to reinstate it on the campaign trail, insisting that it would be “bigger than before.”


On Inauguration Day, the White House issued an executive order calling on US agencies, including the State Department, to look for “countries throughout the world for which vetting and screening information is so deficient as to warrant a partial or full suspension on the admission of nationals from those countries.”

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