Nigerian Electricity Regulatory Commission (NERC), has introduced a new regulation to guard Nigeria’s budding electricity industry from harmful expatriate exploitation ,as in some other sensitive and important sectors of the Nigerian economy with huge capital investments, but little contributions to the Gross Domestic Product (GDP) and employment.
The minister of state for petroleum, Mr Ibe Kachiukwu, has replaced Mrs Diezani Alison-Madueke as the conference president of the Organisation of Petroleum Exporting Countries (OPEC).
World oil prices rose this week on concerns that heightened geopolitical tensions could disrupt Middle East supplies despite a market awash with crude.
…Fares goes up
Fares have gone up on most routes in Anambra State following increase in the price of fuel from the normal N87 per litre to about N200 in most filling stations.
With the glut in the oil sector in Nigeria and the world in general, it has become obvious that the way forward for speedy recovery of Nigeria’s sliding economy is through the non oil sector.
The Chairman, Nigeria Atomic Energy Commission, Erapamo Osaisai, has announced that Nigeria plans to make each of its nuclear power plants to generate power in excess of 1,200mw.
A former Minister of Power, Prof. Barth Nnaji, has told the Senate ad hoc Committee on Power that only 50 percent Consumers in Nigeria get generated power.
The Nigerian National Petroleum Corporation, NNPC, has commenced the publication of a daily petroleum products supply chart to check sharp practices by oil marketers across the country.
Startling revelation has emerged that Nigeria lost about N122.232 billion ($611.16 million) between January and September 2015, as oil and gas companies flared 203.72 billion cubic feet, bcf, of gas.
Despite the huge investment made in the power sector ,two years after the privatisation of the sector, electricity consumers across the country appeared to be impatient about the lethargic growth’, as they continued to clamour for sustainable stability in power supply.