Energia Limited has announced the appointment of Oladimeji Bashorun as its Chief Executive Officer (CEO), following the vacancy created by the exit of Mr. Chidi Egonu. Bashorun, who previously served as the company’s Chief Operating Officer (COO), steps into the role following years of providing strategic and operational […]
Category: Energy
Energy
Nigeria Cuts Duties On EVs, Buses, Machinery To Boost Economy
The Federal Government has approved sweeping reductions in import duties on electric vehicles, mass transit buses, and key manufacturing inputs, in a bid to cushion rising living costs and support economic activity amid global oil market volatility triggered by geopolitical tensions. The policy directive, approved by President […]
Afreximbank Unveils $10bn Plan To Stabilise Economies Amid Gulf Crisis
The African Export-Import Bank (Afreximbank) has approved a $10bn Gulf Crisis Response Programme (GCRP) aimed at protecting African and Caribbean economies from severe economic disruptions caused by the escalating conflict in the Middle East. The initiative is designed to provide urgent financial support, stabilise critical imports, and […]
Middle East Crisis: World Bank Warns Of Prolonged Economic Strain
The World Bank Group has raised concerns over mounting economic pressures stemming from the ongoing conflict in the Middle East, warning that prolonged instability could significantly disrupt global markets and undermine growth in emerging economies. The institution said in a statement that it is actively engaging with affected […]
Dangote Refinery & Petrochemicals clarifies Media Speculation On IPO
Dangote Petroleum Refinery and Petrochemicals (“DPRP” or the “Enterprise”) has noted with concern the recent circulation of unauthorised information across various media and social platforms regarding a potential Initial Public Offering (“IPO”). DPRP further notes that several online platforms and unofficial sources have published unverified, and in […]
Petrol May Hit N2,000/Litre, Diesel N3,000 if Middle East War Persists – PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the price of petrol in Nigeria could rise to as high as N2,000 per litre, while diesel may approach N3,000 per litre, if the ongoing conflict in the Middle East continues to disrupt global oil […]
FG Plans To Recapitalise BOI To N3trn By 2026 ………To Boost Industrial Growth With N800bn Funding, PPP Expansion, Credit Guarantees
The Federal Government has unveiled plans to recapitalise the Bank of Industry (BOI) to N3trn by 2026 as part of a broader strategy to stimulate industrial growth, deepen access to long-term financing, and strengthen Nigeria’s productive base. The recapitalisation forms a key pillar of the National Industrial […]
Otedola’s Naira Forecast Achievable With Policy Discipline, Higher Oil Output — Experts
Financial and energy experts have said billionaire investor Femi Otedola’s projection that the naira could appreciate to below N1,000 per dollar is achievable, but only if Nigeria sustains higher crude oil production and enforces disciplined fiscal and monetary policies. The analysts, reacting to Otedola’s optimism following the […]
Dangote Refinery Links Stable Petrol Supply To Economic, Currency Stability …Hits Over 50m Litres Daily Supply, Targets Full Market Coverage
Dangote Petroleum Refinery Plc has assured Nigerians of a sustained end to Premium Motor Spirit (PMS) scarcity, declaring that the country has entered a new phase of fuel abundance driven by domestic refining, stable pricing and large-scale supply. The assurance was given on Wednesday in Lagos by the newly […]
Oil Theft, Sabotage Cost Nigeria $3.3bn in Two Years — NEITI …Agency Urges Open Data, Stronger Institutions as ₦1.5trn Still Owed to Federation
Nigeria lost about 13.5 million barrels of crude oil valued at $3.3bn to theft and pipeline vandalism between 2023 and 2024, according to the Nigeria Extractive Industries Transparency Initiative (NEITI). The agency described the losses as a major blow to public revenue, stressing that the amount could have funded a […]