Energy Sector

We Backed Dangote Refinery Establishment With $1bn Loan – NNPCL

Dec 17, 2024. by Praise Ben

The Nigerian National Petroleum Company Limited (NNPCL) has announced securing a $1bn crude-backed loan to facilitate the operations of the 650,000 barrels-per-day Dangote Petroleum Refinery and address liquidity challenges. Chief Corporate Communications Officer, Olufemi Soneye, revealed this during the Energy Relations Stakeholders Engagement in Abuja on Monday. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat … Read more

NNPC Stations Reduce Petrol Price

Dec 15, 2024. by Ekohot Editor

A new per-litre price of Premium Motor Spirit (PMS), commonly known as petrol, has been introduced across Nigerian National Petroleum Company Limited (NNPCL) retail outlets in the Federal Capital Territory (FCT), Abuja. EKO HOT BLOG reports that Journalists observed that the price of petrol had dropped from ₦1,060 to ₦1,040 per litre, reflecting a ₦20 … Read more

Grid Collapse: FG To Add 150 Megawatts Before January

Dec 11, 2024. by Praise Ben

The Minister of Power, Adebayo Adelabu, has announced plans to add 150 megawatts of electricity to Nigeria’s national grid before January 2025. Speaking on Wednesday at the Presidential Villa, Abuja, Adelabu said this move is part of ongoing efforts to stabilize the fragile and aging grid. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat … Read more

Akpabio, Wadada Clash During Plenary Over Port Harcourt Refinery Status

Dec 4, 2024. by Ekohot Editor

The Senate plenary on Tuesday saw a heated confrontation between Senate President Godswill Akpabio and Senator Ahmed Aliyu Wadada (SDP, Nasarawa West) over claims regarding the operational status of the Port Harcourt refinery. EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) had announced last week that the refinery had resumed operations. However, … Read more

Tinubu Arrives South Africa for Nigeria-South Africa Bi-National Commission

Dec 3, 2024. by Ekohot Editor

President Bola Tinubu has arrived in Cape Town, South Africa, to co-chair the 11th session of the Nigeria-South Africa Bi-National Commission alongside President Cyril Ramaphosa. EKO HOT BLOG reports that Tinubu’s arrival was confirmed by Frederick Nwabufo, the Senior Special Assistant to the President on Public Engagement, in a statement shared on X. According to … Read more

PH Refinery: Limited Operation Begins, Marketers Reject N1,030/Litre Price

Dec 2, 2024. by Praise Ben

The Port Harcourt Refining Company (PHRC) has scaled down its operations to enhance the facility while resuming limited product distribution, including Premium Motor Spirit (PMS), kerosene, and diesel. This development comes as independent petroleum marketers challenge the proposed price of N1,030 per litre for petrol from the refinery, citing concerns over affordability compared to alternatives … Read more

NNPC Addresses Reports Of Kyari’s Removal

Nov 16, 2024. by Praise Ben

The Nigerian National Petroleum Company (NNPC) Limited has dismissed recent reports alleging the imminent removal of its Group Chief Executive Officer (GCEO), Mele Kyari. Speaking to The Punch on November 15, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, described the speculation as baseless and urged the public to disregard the claims. EDITOR’S PICKS Trump Taps … Read more

Indian PM Modi To Visit Nigeria At Tinubu’s Invitation

Nov 13, 2024. by Praise Ben

Indian Prime Minister Narendra Modi is scheduled to visit Nigeria on Saturday, marking the first visit by an Indian leader to the country in 17 years. Invited by President Bola Ahmed Tinubu, Prime Minister Modi’s visit is set to reinforce the strategic partnership between India and Nigeria, with a focus on expanding cooperation in energy, … Read more

NNPCL Are Part Owners Of Dangote Refinery – Kyari

Nov 11, 2024. by Praise Ben

NNPC Addresses Reports Of Kyari’s Removal

The Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, discredited allegations of sabotage against local refineries by the organization. Kyari emphasized NNPCL’s dedication to remedying Nigeria’s energy challenges by prioritizing energy security, sustainable growth, and affordable energy solutions. During the inauguration of the 42nd Nigeria Association of Petroleum Explorationists … Read more

Grid Failure: Nigerians Will Soon Enjoy 20-Hour Daily Electricity – Tinubu Govt Pledges

Nov 8, 2024. by Praise Ben

The administration of President Bola Tinubu has pledged to deliver a minimum of 20 hours of daily electricity supply to urban and industrial areas in Nigeria by 2027, contingent on improved funding for the country’s oil and gas sector. Olu Verheijen, the Special Advisor to the President on Energy, shared this goal during the African … Read more

Why National Grid Collapsed – TCN Explains

Nov 7, 2024. by Ekohot Editor

The Transmission Company of Nigeria (TCN) has attributed Thursday’s National Grid collapse to a sudden frequency spike from 50.33Hz to 51.44Hz. In a statement, TCN spokesperson Ndidi Mbah explained that the disturbance, which marks the second grid collapse in three days, began at approximately 11:29 AM on Thursday. Recovery efforts were immediately initiated, and the … Read more

Dangote Reveals Strategy to End Fuel Queues in Nigeria

Oct 30, 2024. by Ekohot Editor

Aliko Dangote, President of Dangote Refinery, has assured that fuel queues across Nigeria will disappear once oil marketers start sourcing fuel from his refinery. Speaking to State House Correspondents after a meeting with President Bola Ahmed Tinubu, Dangote stated that his refinery holds the solution to the country’s persistent fuel queues. He urged the Nigerian … Read more

BREAKING: National Grid Collapses For Third Time This Week

Oct 19, 2024. by Praise Ben

Nigeria’s national grid has experienced yet another collapse, marking the third incident in just one week. The latest failure occurred early Saturday morning, plunging numerous states into complete darkness. Data from the Nigerian System Operator’s portal (niggrid.org) indicated that as of 9:20 AM today, the grid recorded zero megawatts (MW), exacerbating the ongoing power crisis … Read more

Suspend, Probe NNPCL Management – Analyst Advises Tinubu Amid Fuel Price Hike

Sep 7, 2024. by Praise Ben

Amidst Nigeria’s recent fuel price surge, public affairs analyst Sabo Muhammad has called on President Bola Ahmed Tinubu to suspend the management of the Nigeria National Petroleum Company Limited (NNPCL) and initiate a thorough investigation into the company’s affairs. In an exclusive interview on Saturday, Muhammad expressed his concerns about the lack of a forensic … Read more

NNPC Finalises Plans to Hand Over Warri, Kaduna Refineries to Private Sector

Aug 30, 2024. by Ekohot Editor

The Nigerian National Petroleum Company (NNPC) Limited has unveiled plans to collaborate with private sector firms for the management and maintenance of its Kaduna and Warri refineries. This strategic move is designed to bolster the country’s petrol supply and enhance energy security. EKO HOT BLOG reports that the announcement was made via a circular posted … Read more

‘It’s Inhuman, Evil’ – Reps Minority Caucus Condemns Electricity Tariff Hike

Apr 5, 2024. by Praise Ben

Minority Caucus of the House of Representatives urges government intervention to revoke recent electricity tariff hike by NERC. NERC approved a significant tariff increase, sparking outrage and condemnation from lawmakers. Critics argue the hike disregards citizens’ welfare amidst economic challenges, contrasting with subsidy policies in other countries. EKO HOT BLOG reports that the Minority Caucus of … Read more

BREAKING: FG Approves Increase In Electricity Tariff

Apr 3, 2024. by Praise Ben

NERC approves electricity tariff increase for Band A customers, raising the rate to N225 per kilowatt-hour from the current N66. Band A customers, enjoying 20 hours of electricity daily, represent 15% of Nigeria’s 12 million electricity customers. The tariff review is aimed at attracting new investment and reducing subsidies, as power companies seek to raise … Read more

BREAKING: FG Increases Gas To Power Price To $2.42/MMBTU

Apr 1, 2024. by Praise Ben

FG Increases Gas To Power Price To $2.42/MMBTU. Announcement made by CEO Engr. Farouk Ahmed. Increase aims to reflect market changes and ensure sector sustainability. EKO HOT BLOG reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has changed the price of gas to power from $2.18MMBTU to $2.42MMBTU. EDITOR’S PICKS BREAKING: FG Declares … Read more

Nationwide Blackout As National Grid Collapses For The Second Time In 2024

Mar 29, 2024. by Praise Ben

Nationwide Blackout As National Grid Collapses For The Second Time In 2024 Collapse of national grid from Osogbo leads to widespread power outages. Distribution companies report system failure, efforts underway for restoration. EKO HOT BLOG reports that once again, the nation grapples with a nationwide blackout, marking the second occurrence in 2024 within a span of … Read more

JUST IN: EU Launches €9 Million Projects To Revolutionize Nigeria’s Energy Landscape

Mar 26, 2024. by Praise Ben

EU launches €9 million projects to improve Nigeria’s energy sector. Focus on small hydropower and circular economy practices. Aims to boost energy accessibility and sustainability in Nigeria. EKO HOT BLOG reports that continuing its commitment to enhancing Nigeria’s energy sector, the European Union has launched two new projects valued at €9 million. The announcement was made … Read more