$5bn Bonga S'West Project Gets Presidential Support
President Bola Tinubu has approved targeted incentives to unlock Shell’s long-delayed $5bn Bonga South-West deep-offshore oil project. He also directed his Special Adviser on Energy, Olu Verheijen, to facilitate the gazetting of the incentives in line with Nigeria’s...
The Presidency on Monday said that it is considering a restructure of asset ownership in the Nigerian National Petroleum Company Limited to increase dwindling crude oil production.
Electricity Subsidy Bill Surges to N762bn
Electricity subsidy has increased to about N762bn in the first four months of 2025.
Figures from various reports of the Nigerian Electricity Regulatory Commission (NERC) showed that the subsidy on power was approximately N178bn in January. It rose to N194bn...
FG Aims 2.7mbpd Crude Oil Production as OPEC Pledges to Monitor Quotas
Nigeria has set a target of boosting daily production to 2.7 million barrels of crude and condensate by 2027.
This was disclosed by President Bola Tinubu’s Special Adviser on Energy, Olu Verheijen, according to...
Electricity Tariff: FG Denies Possible Increase, says Subsidy may Hit N2.4trn in 2025
Electricity consumers, especially about 30 percent of Nigerians, who live in urban centres will be subsidised to the tune of N2.4 trillion in 2025, although generation will remain epileptic.
The subsidy, which hovers...
