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Discos’ energy offtake drops by 8.6%, as FG incurs N358.3bn in tariff subsidy debt Q1, ’26
Nigerian Electricity Regulatory Commission (NERC) has disclosed that the federal government incurred an electricity tariff subsidy of N358.32 billion in the first quarter of 2026. NERC, which made the disclosure in its First Quarter 2026 Report released, Monday, explained that the…
NNPC, NCDMB, NiPeTE task professionals on competence-driven energy workforce
Industry leaders have challenged young professionals to prioritise competence, continuous learning and value creation as they prepare to lead the next phase of Nigeria’s energy transition, stressing that technical skills alone are no longer sufficient to succeed in an increasingly…
Nigerian Content hits historic 61%, NCDMB targets manufacturing room
Board plans nationwide capacity audit, new vendor development programme Warns firms against withholding statutory local content fund remittances Says faster project approvals critical to sustaining industry growth Nigeria’s 15-year drive to deepen indigenous participation in the oil and gas industry…
Low oilfield activity level threatens petroleum production targets – PETAN
Says weak project pipeline, capacity redundancy, funding gaps challenge targets Despite commitments by major international oil companies to invest an estimated $45 billion in Nigeria’s upstream petroleum sector, low oilfield activity and underutilisation of existing industry capacity continue to threaten…
NERC blames court ruling for ₦2tn electricity subsidy burden
ays 2016 judgment constrained regulatory powers, deepened subsidy exposure • Lagos begins implementation of independent electricity market under new law Nigerian Electricity Regulatory Commission (NERC) has disclosed that a court ruling in 2016 contributed to government’s subsidy exposure currently valued…
Nnorom to replace Elumelu as UBA appoints new Group Chairman
United Bank for Africa (UBA) Plc has confirmed that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors. The bank also announced the appointment…
FG moves to unify digital platforms for business registrations
Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has unveiled plans to create a unified digital platform that will allow Ministries, Departments and Agencies (MDAs) to securely share information on requests by entrepreneurs across the country to register their…
BOI appoints capital firm to manage $170.6m iDICE Fund for Nigerian Startups
Bank Of Industry (BOI) has appointed the Kuramo Capital Management as Fund Manager of the $170.6 million iDICE Fund. The iDICE Fund of Funds is a landmark investment vehicle aimed at expanding venture capital financing for technology and creative start-ups across…
FMDQ welcomes new Board, appoints Akaraiwe as CEO
Africa’s first vertically-integrated financial market infrastructure, the FMDQ Group Plc has announced the appointment of Mr. Zeal Akaraiwe as its Group Managing Director/Chief Executive Officer subject to the approval of the Securities and Exchange Commission (SEC). The Group has also strengthened…
FG effects Green Tax, drops import tariff on 127 items to ease cost of living
Newly-introduced Green Tax policy of the federal government has effectively kicked off with the total exemption of import duty on electric (EVs) and compressed natural gas (CNG) powered vehicles. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,…
