Energy

By PR The Nigerian Content Development and Monitoring Board (NCDMB) on Monday received a cheque of $1 million from Nedogas Development Company Limited (NDCL), being part of the return on investment (ROI) on one of the Board’s strategic investments. The cheque was presented by the Chairman of the company, Engr. Emeka Ene when he visited the Nigerian Content Tower in Yenagoa Bayelsa State, where he was received by the Executive Secretary, Engr. Felix Omatsola Ogbe and other members of the Board’s management. Nedogas Development Company Limited (NDCL) is a joint venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company. As part of the project, Nedogas Development Company Limited (NDCL) constructed and commissioned a 300 MMscfd Capacity Kwale Gas G...

Zorazhuang via Getty Images By Omono Okonkwo, Head of Operations at The Electricity Hub On April 11, 2024, the Organisation of Petroleum Exporting Countries (OPEC) released its monthly oil market report (MOMR), shedding light on global oil demand. Their assessment indicates that the forecast for global oil demand growth in 2024 remains stable at 2.2 million barrels per day (mb/d), with slight upward adjustments made to the first quarter of 2024 data. In contrast, the International Energy Agency (IEA) presents a different perspective. They anticipate a slowdown in global oil demand growth, expecting it to ease to 1.2 million barrels per day (mb/d) in 2024 and further decline to 1.1 mb/d in 2025. This deceleration is attributed to the normalization of growth post-COVID-19 pandemi...

Min.of Power, Adebayo Adelabu By Ono Yima Adebayo Adelabu, the Minister of Power, has come out to apologize to Nigerians over people leaving their Freezers and Air conditioners on. While addressing journalists at the ministerial press briefing a week ago, Adelabu criticised Nigerians who keep their freezers and air conditioners on when they are not home. He had pointed out that Nigerians do not pay attention to appropriate power management due to its affordability. “A lot of people will come back from work, they want to have dinner, or they want to see their colleagues down the road, they switch on the AC for the room to be cooling before they come back" he pointed out. “Some people", he continued, "will be going to work in the morning, a freezer that you left on for days, ...

By Ono Yima  Mr. Mele Kyari, the GCEO of NNPC limited has restated the role of natural gas in propelling economic growth and industrialization of Nigeria. He stated this during a book launch in Abuja. The book, “The Rise of Gas: From Gaslink to the Decade of Gas” written by Charles A. Osezua, put a spotlight on gas and its global acceptance as an important energy source to fuel economic development. The Chief Corporate Communication Officer of NNPC Limited, Olufemi Soneye, had on Wednesday, on the company’s official X (twitter) handle quoted the GCEO, Mr. Kyari, as emphasizing the need to prioritize natural gas production in the country. “This is especially crucial given the geopolitical dynamics and energy security concerns in the global economy,” the chief officer of...

Photo by Andrey Metelev on Unsplash By Ali Elias “This is to sincerely apologise for the disruptions in your electricity supply in the past week. We understand the inconvenience that comes with unstable power, and we deeply regret any inconvenience it has caused. “The reason behind the inconsistency in supply on the 33KV Gaskiya feeder was due to a circuit breaker issue. The TCN technical team has successfully resolved the circuit breaker issue,” Kano Electricity Distribution Company. This sort of excuse has become a recurring decimal from the DisCos across the nation, The excuses have been hinged on one thing or the other, an obvious indication that they did not prepare to put their house in order, or fully analyze the dynamics which would come with their requesting from the r...

By Omono Okonkwo, Head of Operations at The Electricity Hub In March 2024, President Bola Ahmed Tinubu took decisive action to enhance Nigeria's investment climate, aiming to position the country as the premier investment hub for the oil and gas sector across Africa. Through the execution of Policy Directives, the President unveiled a strategic roadmap to foster a conducive environment for investment while addressing critical industry challenges. After thorough engagements, meticulous analyses, and benchmarking against international standards, the President initiated amendments to primary legislation to introduce fiscal incentives tailored specifically for oil and gas projects. These amendments also target the reduction of contracting costs and timelines and promote cost effici...

By Ali Elias The Nigerian Electricity Regulatory Commission (NERC) has sanctioned Abuja Electricity Distribution Company (AEDC) and imposed a heavy fine of N200m for violating the regulatory agency’s tariff order. This was revealed in a Press Statement by the agency on Its X handle. The full details of the Statement read: The Nigerian Electricity Regulatory Commission (“Commission”) has taken enforcement action against the Abuja Electricity Distribution Plc (“AEDC”) for non-compliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for AEDC (the “Order”). AEDC has been fined ₦200,000,000 (Two Hundred Million Naira) for failure to comply with the prescribed customer band classifications for the tariff billing. This decision follows a detailed rev...

By PR The Nigerian Content Development and Monitoring Board (NCDMB) was on Monday in Abuja commended for maintaining first position among ministries, departments and agencies (MDAs) in the Half Year Executive Order (EOI) Compliance Report by the Presidential Enabling Business Environment Council (PEBEC). Addressing a Management team from the Board, led by the Director Monitoring and Evaluation, Mr. Abdulmalik Halilu, the Special Adviser to the President on PEBEC and Investments, Dr. Jumoke Oduwole, urged NCDMB to maintain its high standard of transparency and efficiency in its operations, having won the top position in successive rankings, with 81.48 per cent for January-June, 2022, 81.11 per cent for July-December, 2022, and 83.06 per cent for January-June 2023.  She sa...

Photo courtesy: Pexels, Natalia Vaitkevich  By Adamu Rabiu, Kaduna Considering these circumstances, wouldn’t it be prudent to suspend or abandon the PIA and revert to the status quo ante before it becomes a QUICK SAND? In the corridors of power, the Petroleum Industry Act (PIA) was hailed as the panacea to Nigeria’s oil sector woes – a landmark legislation promising transparency, accountability, and fair distribution of the nation’s oil wealth. Yet, as the dust settles, it reveals a disconcerting reality of promises not meant to be fulfilled. Running the NNPC Ltd Like a Fiefdom Let’s do a quick refresher, according to the latest data from both the US Energy Information Administration. Nigeria is ranked eleventh in the world and fourth in Africa in crude oil product...

The Nigerian Content Development and Monitoring Board(NCDMB) is currently carrying out an onsite out-of-country monitoring visit to South Korea to inspect facilities fabricating Pressure Vessels, Columns, Heat Exchangers, and Filters for the NLNG Train 7 project awarded to the consortium of SAIPEM, Chiyoda and DAEWOO (SCD JV).The visit is from the 18th – 22nd of March 2024. The Monitoring visit is being led by the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe and the Director of Monitoring and Evaluation, NCDMB, Mr. Abdulmalik Halilu. The Nigeria LNG Ltd team is led by the Managing Director, Dr. Philip Mshelbila and the General Manager, External Relations, and Sustainable Developme...