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Oil sector drives Nigeria’s current account surplus to reach $5.0bn in Q1 2026
According to the Central Bank of Nigeria (CBN), the country’s Balance of Payments (BoP) recorded a current account (CA) surplus of $5.0 billion in the first quarter of 2026, significantly higher than $1.4 billion in the fourth quarter of 2025 and…
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…
Nigeria, UNDP, REA launch first phase of Africa Minigrids Programme for rural communities
Nigeria has launched the Africa Minigrids Programme (AMP), a renewable energy initiative aimed at expanding electricity access to underserved communities, stimulating rural economies and accelerating the country’s transition to clean energy. The Africa Minigrids Programme is being implemented through a partnership involving…
Doku takes a bow, Angela steps in as GM Corporate Affairs at WAPCo
Sopuruchi Onwuka The West African Gas Pipeline Company Limited has announced the end of the tenure of Dr. Isaac Adjei Doku in the leadership of its Corporate Affairs Division, and subsequent appointment of Mrs. Angela Yasmin Heymann as the new…
Amid distribution shortfalls, DisCos recover N597.6bn electricity debts from customers
Amid erratic service supply to customers nationwide, the country’s electricity distribution companies (DisCos) have reported the second-highest quarterly revenue collection over the past five quarters, in the first quarter of 2026. According to data from the sector’s regulator, the revenue boost…
Shell, 9 banks launch $3bn Contract Finance facility to support Nigerian contractors
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has launched a $3 billion Contract Finance facility in partnership with nine leading Nigerian banks to support contractors. The facility launched, Thursday, which represents a major step towards empowering Nigerian contractors is…
