Power Generation Rises to 4,800MW, Minister Discloses The Federal Government says Nigeria’s electricity generation has risen to 4,800 megawatts up from around 3500 in March. This is as the government accused some “cartels and cabals” as those who did not want the power sector to function...

9,000 Oil Marketers May Lose Licences, IPMAN Seeks FG’s intervention 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 (IPMAN) is urging the Nigerian National Petroleum Company...

EFCC Secures Court Approval to Seize 1,146 Individuals, Companies’ Accounts in FX Scandal In a sweeping move to tackle foreign exchange (FX) irregularities, the Economic and Financial Crimes Commission (EFCC) has won a major victory in the Nigerian courts. The Federal High Court has approved...

Again, Dollar Strengthens Against Naira, Now N1,350/$ The naira further depreciated to N1,350 per dollar at the parallel section of the foreign exchange (FX) market on Monday. The current FX rate represents a 2.27 percent decline from N1,320/$ traded on April 26. Currency traders, known as bureau...

$10bn Required Annually for Ten Years to Revive Power Section, Minister Says The Federal government has emphasised that for the power sector to operate at peak performance, an annual investment of $10 billion is imperative, just as it also disclosed that the country would allocate...

NUPRC Offers 12 Oil Blocks to Investors as 2024 Bid Round Commences The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday, disclosed that it has commenced the process for the 2024 oil bid round with 12 oil blocks on offer and seven deep offshore blocks from...