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By Obas Esiedesa  -  Abuja   The Interim President of the Nigerian Electricity Consumers Advocacy Network (NECAN), Tomi Akingbogun, has said that the electricity distribution companies were being over protected by the federal government to the disadvantage of other businesses operating in the country. He...

Independent Petroleum Marketers Association of Nigeria (IPMAN) has advocated for the deregulation of the downstream sector of the petroleum industry, saying such a move would make the premium motor spirit (petrol) available to consumers and at a cheaper rate. IPMAN President, Chinedu Okoronkwo, said in Abuja that deregulation remains the way forward for the government...

The Chairman, Nigerian Electricity Regulatory Commission (NERC), Sam Amadi, has said that the regulatory agency will consider endorsing contracts for natural-gas supply above the regulated rate between a “willing buyer and willing seller,” so as to ensure increased deliveries to the country’s ailing power plants. Nigeria, which holds Africa’s largest gas reserves,...

By Phillip Oladunjoye   –  Lagos   Chairman of Seplat Petroleum, A.B.C Orjiako, has advised the federal government to sell its stakes in joint ventures in the country’s energy industry as well as remove fuel subsidy. Orjiako, who said this on the sidelines of an investment conference in London recently, said his company would be interested in buying some...

• Creates Over 150 Jobs By Phillip Oladunjoye –  Lagos   Shell Petroleum Development Company (SPDC) has said that its Afam VI Power Plant in Rivers State has delivered over 20million Megawatt-hour (MWh) of electricity into the Nigerian grid between its inauguration in 2008 and June 2015, thereby consolidating its position as a leading contributor to the country’s...

Erin Energy Corporation has said that it is set to join the broad-market Russell 3000 Index at the conclusion of the Russell indexes annual reconstitution. The company noted that annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization, adding that membership in the Russell 3000, which...

Afren plc has said that it would re-engage with its shareholders to get a better understanding of their concerns regarding the ability of the Company to issue shares and make market purchases of its own shares in the next 12 months. The company noted that all other resolutions set out in the Notice of Annual General Meeting were passed by the requisite majority at its...

The European Union is seeking to invest 150million Euros (N31b) in support of Nigeria’s power sector to increase energy access in the country. The EU position was made known by its delegation to the Nigerian Electricity Regulatory Commission (NERC) in Abuja. EU’s representative, Peter Cameron, explained that the Europeans were identifying projects to fund in the power...

By Obas Esiedesa,  Abuja   Despite the existence of the Nigerian Electricity Management Services Authority (NEMSA) saddled with the technical regulation of the power sector, the Nigerian Electricity Regulatory Commission (NERC) has appointed 14 firms as technical inspectors for the sector. The move, which would further deepen the sharp disagreement between the two...

Electricity consumers have criticised plan by the Abuja Electricity Distribution Company (AEDC) to increase tariff in the area despite the company’s failure to meet its obligations. AEDC had last week served notice of its plan to increase tariff in its area of operation, which includes the Federal Capital Territory (FCT), Nasarawa, Kogi and Niger State. The company was...