Tag: Energy

Power Generation Dips Below 4,000MW Amid Gas, Transmission Issues
News, Nigeria, Power

Power Generation Dips Below 4,000MW Amid Gas, Transmission Issues

As Muslims celebrate Eid-el-Kabir, power generation in Nigeria dipped below the 4,000 megawatts mark on Tuesday. The total generation in the country stood at 3,958.7MW as of 6am on Tuesday, down from 4,270.7MW on Monday, according to data obtained from the Nigerian Electricity System Operator. On Monday, the peak generation stood at 4,611MW, while the lowest generation was 3,732.1MW, the NESO data showed. The total energy generated on Monday was 100,974.45MW, out of which 99,272.98MW was sent out. Although the NESO data did not state the cause of the decline in generation on Tuesday, gas and transmission constraints are the major challenges facing power stations in the country. Eko Electricity Distribution Company, in a goodwill message to its customers celebrating this year...
Petrol Should Cost More Than N280/litre, NNPC GMD, Kyari Says
Finance, News, Nigeria

Petrol Should Cost More Than N280/litre, NNPC GMD, Kyari Says

The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has advocated for an increase in the price of petrol to about N280/litre at which Automotive Gas Oil, widely known as diesel, is being sold. Kyari said that Nigeria remains the only country in the world where the price of diesel outweighs that of petrol. He stated this on Tuesday when he appeared on Channels Television. The NNPC GMD faulted the smuggling of petrol from the country as an impediment on the country’s oil sector but added that it would not prompt another closure of the borders. He disclosed that government had intensified efforts at curbing smuggling. The NNPC boss said although petrol evacuation by NNPC in Nigeria was currently about 60 million litres daily, the...
Dielsel Price Rises to N280, LCCI Predicts Inflation Will Rise
Finance, News, Nigeria, Petroleum

Dielsel Price Rises to N280, LCCI Predicts Inflation Will Rise

The price per litre of Automotive Gas Oil, popularly known as diesel, has jumped to N280, occasioned by the recent hike in global oil prices and naira devaluation. The price of diesel on Monday ranged from N270 to N280 per litre in several filling stations in Lagos. Reports say the price of the product which is not under government regulation was sold for N280, N279.9 and N275 per litre at Mobil, Capital Oil and Gas as well as Oando filling stations, all along the Lagos-Ibadan Expressway. Diesel often readily serve businesses to power their generators amid a lack of reliable power supply from the national grid. “The high diesel cost is taking a huge toll on operating and production costs across sectors. It is a case of multiple jeopardy for businesses,” the Director-General, Lagos Cham...
Marketers Hike Petrol to N170
News, Nigeria, Petroleum

Marketers Hike Petrol to N170

Fuel marketers have commenced increasing their petrol pump prices amid the supply shortfall facing private depots in Apapa, Lagos State. Filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre, Punch reports. Among the stations were Capital Oil and Gas, Fatgbems and Amo Oil, all along the Lagos-Ibadan Expressway. Another station, Enyo Retail, adjusted its pump price to N165 per litre from N162. Speaking on the increment, Mr Mike Osatuyi, the National Operation Controller, Independent Petroleum Marketers Association of Nigeria, said that the members of the association were forced to increase the pump price because they bought the product at N160-N161 from depot owners. On Thursday last week, it was reported th...
PDP Cautions Buhari against Fuel Price Hike
News, Nigeria, Petroleum, Politics

PDP Cautions Buhari against Fuel Price Hike

The main opposition party, the People’s Democratic Party (PDP) has warned President Muhammadu Buhari administration against the further increase of fuel price. According to the opposition party, the APC administration is undertaking discussions and consultations aimed at the upward review of fuel price in Nigeria from N170 to a higher figure. This was contained in a statement by the PDP titled, ‘Don’t Ever Contemplate Another Fuel Price Increase, PDP Tells APC Administration.’ The PDP asked the APC administration to perish such thoughts. The statement partly read, “Our party cautions the APC to immediately perish such contemplations as it would amount to pushing the already impoverished Nigerians to the wall; a situation that might result in public restiveness and acercabation ...
Scores Injured as Gas Explosion Hits Rivers Community
News, Nigeria, Power

Scores Injured as Gas Explosion Hits Rivers Community

Many people sustained varying degrees of injury while some residents fled as a gas plant exploded in Rumuodomaya community, Obio/Akpo Local Government Area of Rivers State on Saturday night, African News Today has gathered. The incident took place at about 8;45 pm with a loud sound which caused panic among residents of the area with some fleeing their homes in panic. African News Today could not ascertain the cause of the explosion at the time of filing this report. The latest explosion came barely three weeks after a gas leak at a facility operated by the Nigeria Liquefied Natural Gas (NLNG) in Elibrada, Emuoha Local Government Area of the state. Details later…
Minister of Power Directs NERC to Suspend Reviewed Electricity Tariff
News, Nigeria, Power

Minister of Power Directs NERC to Suspend Reviewed Electricity Tariff

The minister of power, Saleh Mamman, has asked the Nigerian Electricity Regulatory Commission, NERC, to suspend the implementation of the reviewed electricity tariff. The directive followed the approval by NERC on Tuesday for an increase in electricity tariff across the federation. The minister in a statement issued on Thursday said the tariff review will be suspended until the conclusion of the joint ad hoc committee’s work at the end of January. According to Mamman, the government had initially reduced the tariff of all categories of electricity consumers to help Nigerians cope with the impact of the COVID-19 pandemic. He said, “Government continues to fully subsidise 55% of on-grid consumers in bands D and E and maintain the life line tariff for the poor and underprivileged....
NERC Ratifies Fresh Increase in Electricity Tariff
News, Nigeria, Power

NERC Ratifies Fresh Increase in Electricity Tariff

The Nigerian Electricity Regulatory Commission, NERC, has ratified an increase in electricity tariff across the country, effective from January 1, 2021. This was contained in a directive issued on December 31, 2020, signed by NERCC chairman, Sanusi Garba. The regulatory commission disclosed that the new tariff will remain valid until the issuance of another minor review order or an extraordinary tariff review order by the commission, The Cable reports. It said the upward review was informed by factors such as Nigeria’s inflation rate, exchange rate, US rate of inflation, available generation capacity, gas price, MDA losses and capex adjustment. The NERC said, “This order supersedes ORDER/NERC/ 202B/2020 and shall take effect from January 1, 2021, and shall cease to have an effe...
Gov Ugwuanyi Rates Improved Power Supply as his Administrations Highpoint
Infrastructure, News, Nigeria, Politics, Power

Gov Ugwuanyi Rates Improved Power Supply as his Administrations Highpoint

Governor Ifeanyi Ugwuanyi of Enugu State has said that the stepping down of 30MVA in Nsukka from the 132KV Makurdi Feeder, which his administration facilitated, to improve the quality of electricity supply in the area, is one of the state government’s greatest achievements. The 30MVA Injection Sub-Station in Nsukka, was the programme of the National Integrated Power Project (NIPP) but received maximum support from Gov. Ugwuanyi’s administration which provided sundry assistance such as the resolution of all legal issues concerning the project, bush clearing as well as dealing with other obstructions impeding the line's passage, and construction of the outgoing feeders to supply power to end-users. This was disclosed by an aide on media and Publicity to the governor, Amoke Louis in a p...
FG Reduces Petrol Price by N5 Per Litre
News, Nigeria, Petroleum

FG Reduces Petrol Price by N5 Per Litre

The federal government has announced a N5 reduction in the price of Premium Motor Spirit, popularly known as petrol, bringing the pump price down to N162.44 per litre. The new price which FG said will take effect from December 14, 2020, came after negotiations with the organised labour. Senator Chris Ngige, Minister of Labour and Employment while addressing newsmen after the meeting with labour leaders disclosed that the meeting had a positive outcome. He said, “Our discussion was fruitful and the Nigerian National Petroleum Corporation (NNPC), which is the major importer and marketers of petroleum product, and customers have agreed that there will be a slide down of the pump price of PMS and that the price cut will get us about N5 per litre and that the price cut will take effect...