Advisors Reports

February 10, 2024Documentary Extractive Industry Local Content News Oil Upstream

Local Content: Senate Committee to summon IOCs, agencies for economic diversification beyond crude oil

Oredola Adeola The Natasha Akpoti-Uduaghan-led Senate Committee on Local Content is set to summon international oil companies and relevant government agencies to ensure they contribute significantly to the Nigerian economy beyond crude oil extraction and sales. She…

February 10, 2024Distribution Impact News Power

NERC sanctions 11 DisCos over non-compliance with capping of estimated bills for unmetered customers

Oredola Adeola The Nigerian Electricity Regulatory Commission (NERC) has placed a heavy sanction on all eleven electricity Distribution Companies (DisCos) with a total fine of N10.5 billion for failing to comply with the monthly capping of estimated bills, to…

February 9, 2024Distribution Generation News Power Transmission

FG proposes settling domestic gas in Naira to tackle frequent power outages

Oredola Adeola The Nigerian government has taken a strategic step to address a critical gas supply shortage threatening the operation of electricity generation companies (GenCos) with the proposal before the National Assembly to settle domestic gas to power thermal…

February 9, 2024Downstream Extractive Industry Impact News Oil & Gas Upstream

Oyedele fiscal policy Committee teams up with NEITI to drive oil, gas, extractive industry transparency

Oredola Adeola The Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) has agreed to partner with the Nigeria Extractive Industries Transparency Initiative (NEITI) to leverage the findings and recommendations contained in its oil & gas and extractive…

February 8, 2024Downstream Impact Oil & Gas

NLC, TUC give FG 14 days to lessen economic impact of fuel price hike, Naira devaluation

Oredola Adeola Following the Federal Government’s failure to implement the 16-point agreement agreed on October 2, 2023, the Nigeria Labour Congress and the Trade Union Congress have given the federal government two weeks to commence the implementation of…

February 8, 2024Gas News Oil & Gas Upstream

NNPC Ltd. finally agrees to CBN oversight of oil sales revenue

Oredola Adeola The Nigerian National Petroleum Company Limited (NNPC Ltd.) has agreed to the Federal Government’s directive for the Central Bank of Nigeria (CBN) to oversee the management of oil sales revenue, including the domiciliation of a significant…

February 8, 2024News

Court orders Tinubu to regulate petroleum products, essential goods within seven days

Oredola Adeola The Federal High Court in Lagos has issued a directive to the administration of President Bola Tinubu to regulate the prices of Premium Motor Spirit (petrol), Diesel, Kerosene, and Liquified Petroleum Gas (cooking gas), along with other…

February 8, 2024Gas News Oil & Gas Upstream

NNPCL, TotalEnergies, partners commence oil production from Akpo West Field, add 14,000bpd to Nigeria’s output

The Nigerian National Petroleum Company Limited (NNPC Ltd.) TotalEnergies and partners have commenced crude oil production from the Akpo West Field, adding about 14,000 barrels per day of condensate to Nigeria’s oil production, with an expected production of about 4…

February 7, 2024Environment Green Finance Impact News Power Renewables

NSIA, UK FCDO, partners launch Green Guarantee Company, with $1bn guarantee to mobilize climate finance for developing countries

Oredola Adeola The world’s first climate-focused guarantee company, the Green Guarantee Company (GGC), has been launched by the Nigeria Sovereign Investment Authority (NSIA) alongside the United Kingdom’s Foreign, Commonwealth and Development Office (FCDO) through its MOBILIST Global programme,…

February 6, 2024Advertorial Distribution Power

Ikeja Electric attains triple certification in quality, environmental, safety management systems

Oredola Adeola Ikeja Electric Plc Integrated Management System (IMS) has been simultaneously recertified with three major certifications – ISO 9001:2015 for Quality Management Systems, ISO 14001:2015 for Environmental Management Systems, and ISO 45001:2018 for Occupational Health & Safety Management Systems,…