An economist and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, has warned that Nigeria’s continued electricity supply crisis poses a serious threat to the country’s economic stability and long-term growth, declaring that current GDP progress is unsustainable without immediate and comprehensive reforms in the power sector. […]
Category: Power
Power
Oando Profit-After-Tax up 267% to N220 billion in FY2024 Audited Results
Oando PLC, Africa’s leading integrated energy company listed on both the Nigerian Exchange Group (NGX) and Johannesburg Stock Exchange (JSE), posted robust Audited Full Year (FY) 2024 financial results with a 44% increase in revenue to N4.1trillion compared to N2.9 trillion in FY 2023. In the upstream, Oando’s production […]
NEPL/Seplat JV Launches Mini-Grid Project, Celebrates YEP Graduation In Edo State
The NEPL/Seplat Joint Venture (JV) has unveiled a solar-powered mini-grid project, graduation of its pioneer Youth Entrepreneurship Programme (YEP) participants and the commissioning of a borehole project in Ologbo N’ugu, Edo State. Themed, “Building Capacity for a Greener Grassroots Economy,” the three-pronged initiative is centered on providing access to […]
Seplat Strengthens Export Capacity Through MPNU Acquisition
Seplat Energy Plc has reaffirmed its commitment to long-term investments across its core business divisions, following a transformative year in which the company significantly increased its production and reserve base through the acquisition of Mobil Producing Nigeria Unlimited (MPNU). Addressing shareholders and journalists at the company’s 2025 Annual […]
Nigeria Now Provides Power Access to 150 Million – Adelabu …Says 80 Million Nigerians Still Lack Reliable Electricity Access
Approximately 150 million Nigerians now have access to electricity, according to the Minister of Power, Adedayo Adelabu, who disclosed the figure on Thursday during the 2025 Ministerial Sectoral Update Conference held in Abuja. While hailing the achievement, the minister acknowledged that 80 million Nigerians still lack reliable […]
CPPE Warns Against Nigeria’s Planned Solar Panel Ban
The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the federal government against its proposed ban on the importation of solar panels, warning that such a policy could exacerbate Nigeria’s energy crisis and deter investment in renewable energy solutions. The warning follows a statement […]
Oando, REA Launch 1.2GW Solar Project To Boost Power
Oando Clean Energy Limited, in collaboration with the Rural Electrification Agency (REA), has signed a Memorandum of Understanding (MoU) to develop a 1.2-gigawatt (GW) solar power project, marking a significant milestone in Nigeria’s transition to renewable energy. The initiative, which aims to provide electricity to millions of Nigerians, will […]
Seplat Launches $650m Senior Notes Offering For Debt Refinancing
Seplat Energy Plc, Nigerian energy company listed on the Main Market of the London Stock Exchange (LSE) and the Premium Board of the Nigerian Exchange Limited (NGX) has announced the launch of a $650m Senior Notes offering due 2030. According to the company in a notice to the […]
Seplat Energy Declares $16.5 Cents Dividend Per Share
Seplat Energy Plc, a Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its audited financial results for the year ended December 31, 2024. The company declared a total dividend of $16.5 cents per share for the period, representing a […]
Global Lenders Pledge $8 Billion to Africa’s $90 Billion Power Expansion Plan
Efforts to provide electricity to 300 million Africans received a significant boost as the Islamic Development Bank (IsDB), the Asian Infrastructure Investment Bank (AIIB), and other financial institutions pledged over $8bn in new funding for the Mission 300 initiative. The program, launched in April by the World Bank and […]