News

NERC To Sanction DisCos for Failing To Cap Estimated Bills To Unmetered Customers

One week after BusinessDay reported that unmetered electricity customers were still reporting excessive charges despite an order by NERC limiting distribution companies (DisCos)nfrom charging  outrageous bills, the commission  has threatened to sanction erring  DisCos.  The Nigerian Electricity R

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Amidst Scarcity, Millions Of Meters Rot At Lagos Port Over 35% Levy

Millions of electricity customers are being denied meters, and part of the reason is that the Nigerian Customs Service is extending application of a 35 percent levy introduced by the government on imported meters  to components used for meter production, some local assemblers say.

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Nigeria Takes Another Unsteady Step Towards Downstream Deregulation

The Petroleum Products Pricing Regulatory Agency's removal of the price cap on Premium Motor Spirit (petrol) may be a step towards deregulation, only that it could be undermined by the agency's decision to continue setting prices for the commodity.

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Oil Soars Most In 12 Years After Trump Vows Intervention In Price War

Oil surged Thursday, recording the most single day gain since 2008 as Middle East producers began to show signs of strain and helped by U.S.

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Marketers Reluctant To Sell Petrol At N125 Litre

Oil marketers say they need some clarifications before they can begin to effect changes in the pump price of petrol.

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NNPC Urges Professionals To Find Solutions To Oil Industry Challenges

The Nigerian National Petroleum Corporation (NNPC) has challenged professionals in the Nigerian petroleum sector to come up with solutions to tackle current challenges facing the industry.

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Oil Falls To $25.96 In New York, Lowest Since May 2003

United States West Texas Intermediate (WTI) crude Oil has dropped to the lowest levels since 2003, below $26 per barrel.

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Reps To Probe Failure Of FG's N3.4 Billion Solar Powered Grid Project

The House of Representatives has resolved to investigate the failure of the Federal Government’s N3.4 billion solar powered Grid Project in the six Geo-Political Zones and the Federal Capital Territory (FCT).

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Oil Falls Deeper Into Turmoil Triggered Epic Demand Collapse

Oil’s spectacular collapse deepened Monday as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history piling fresh pressure on countries like Nigeria.

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Brent Plunges 10% To $30 Lowest Since 2016

Oil continued to slide Monday falling more than 10 percent to the lowest level since early 2016 over falling demand of the commodity as activities around the world ground to halt and OPEC+ remain at an impasse.

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