The National Bureau of Statistics (NBS) has reported a significant increase in cooking gas prices, with the average cost to refill a 5kg cylinder of Liquefied Petroleum Gas shooting up by 7.10% from February to March 2024, hitting N6,591.62 According to the latest NBS report for March 2024, the average price to refill a 5kg … Read more
As Nigerians battle fuel scarcity, over 9,000 oil marketers are on the verge of losing their operating licences. As a result, the Independent Petroleum Marketers Association of Nigeria is urging the Nigerian National Petroleum Company Limited to extend its final deadline for licensing renewal to July. It also appealed to the Nigerian Midstream and Downstream … Read more
The Federal Government, FG, says it will stop awarding licences to gas businesses with no ability to develop pipes for gas distribution. The government stated that this was necessary to discourage the transportation of compressed natural gas on roads. The Minister of State for Petroleum (Gas), Ekperikpe Ekpo, made this disclosure when he was in … Read more
The Ibadan Electricity Distribution Company (IBEDC) has downgraded 27 feeder areas from Band A. IBEDC said the feeders formerly under Band A, have now been downgraded to Band B, C, D, or E. The electricity distribution company released the list of the downgraded feeders and their daily power supply in a Saturday statement. Band A … Read more
Fuel queues on Friday resurfaced in Lagos and Ogun states as petroleum marketers say the non-availability of Premium Motor Spirit in filling stations is as a result of shortage in supply. Similarly, the Nigerian National Petroleum Company Limited confirmed that there were no products in its Apapa depots. The long queues resurfaced in filling stations … Read more
Liquefied Petroleum Gas (LPG), also known as cooking gas, has increased by 38% month on month (MoM), to N16,250 for a 12.5kg cylinder, up from N11,735.72 in January 2024. Furthermore, the price of one kilogram of gas increased by 37% to N1,300 from N950 during the same period. The latest data from the Nigeria Bureau … Read more
Access Holdings Plc has stated that the appointment of Ms. Bolaji Agbede as Acting Group Chief Executive Officer was consistent with the company’s succession planning practices. In a report to the Nigerian Exchange Group, NGX, the company’s Chairman, Abubakar Jimoh, commented on the appointment, stating that Ms. Agbede is the company’s most Senior Executive with … Read more
Ms. Bolaji Agbede has been appointed Acting Group Chief Executive Officer by Access Holdings Plc, the company stated Monday. This comes after the demise of its former Group CEO, Dr. Herbert Wigwe. Wigwe died in a helicopter crash along with his wife, son, and a former chairman of the Nigeria Exchange Group, Abimboloa Ogunbanjo, on … 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