The Transmission Company of Nigeria (TCN), on Saturday, in Benin, said that there would be a power outage in its Amukpe substation for two weeks. This is according to a statement signed by the General Manager, Public Affairs of TCN, Ndidi Mbah. Mbah said the disruption would begin on May 4 and last till May … Read more
Senator Ned Nwoko, has advised the Federal Government and the Central Bank of Nigeria (CBN) against any measures that are capable of artificially forcing the Naira to gain value against dollar and other currencies. Nwoko, who represents Delta North, gave the advice in a statement he personally signed and made available to the News Agency … Read more
The Nigerian Electricity Regulatory Commission, NERC, has approved 481 Band A areas for the purpose of implementing the new tariff. Documents obtained from the regulator indicated that the Abuja Electricity Distribution Company, AEDC, emerged the highest with 107. Yola Electricity Distribution Company, YEDC, has 15, apparently the least. A breakdown indicated that the Ikeja Electricity … Read more
The Federal Government, FG, through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday. Although sources familiar with the development explained that the cost of the plants should exceed $5bn … Read more
Shell Plc agreed to sell its Nigerian onshore oil business to a consortium of local companies for more than $1.3 billion. If approved by the government, the transaction would fulfill Shell’s long-term goal of extracting itself from a challenging operating environment in the Niger Delta region, while retaining a presence elsewhere in the country. Beyond … Read more
The Nigerian National Petroleum Company, NNPC, Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and … Read more