Category: Energy

BREAKING: NNPC secures N2.3trn loan to stabilise Naira against Dollar

Emporium Reporters

The Nigerian National Petroleum Corporation (NNPC) Limited has secured a N2.3trn ($3 billion) crude repayment loan to support the naira and stabilise the foreign exchange market. NNPC in a terse statement on Wednesday, August 16, 2023, said the loan was secured from the AFRIEXIM bank headquarters in Cairo, Egypt. The statement reads; “The NNPC Ltd. and AfriEXIM bank have jointly signed a commitment letter and Termsheet for an emergency $3 billion crude oil repayment loan. “The signing, which took place today at the bank’s headquarters in Cairo, Egypt, will provide…

NASENI seeks collaboration with Investors on production of Lithium Batteries in Nigeria ….. Receives Chinese delegation

Emporium Reporters

The National Agency for Science and Engineering Infrastructure (NASENI) is seeking investors that would collaborate with the Agency in local production and domestication of Lithium batteries among other renewable energy solutions The Executive Vice Chairman/CEO of NASENI Dr, Bashir Gwandu disclosed this yesterday Monday July 17, 2023 in Abuja,he said the Agency was ready to partner with international companies that are willing to set up their industries in Nigeria and start local production of renewable energy solutions, electric vehicles parts and other capital goods that could create jobs and reduce…

NNPCL intercepts vessel with 800,000 litres stolen crude oil

Emporium Reporters

A vessel conveying 800,000 litres of suspected stolen crude oil has been intercepted by a private security contractor engaged by the Nigerian National Petroleum Company Ltd. (NNPC Ltd). The vessel and its crew members were apprehended on July 7, by operatives of Messrs. Tantita Security Services at an offshore location heading to Cameroon. Mr Garba Muhammad, Chief Corporate Communications Officer, NNPCL., said this in a statement on Monday Abuja.. He explained that the Vessel, MT TURA II, IMO number: 6620462, was owned by a Nigerian company, HOLAB MARITIME SERVICES LIMITED…

Why we’re deploying more Mini-grid power to communities – REA Boss

Emporium Reporters

Managing Director/CEO,Rural Electrification Agency REA, Engr. Ahmad Salihijo, has explained that the recent deployment of Mini-grid Solar power installation across the country, in areas or communities with potential for productive use particularly around agricultural activities was to boost agricultural production and alleviate the burden posed by the removal of fuel subsidy. Salihijo disclosed this in Gurin, Fufore local government area on Friday, during the inspection of 100Kw Solar Mini-grid power plant built by the agency through a private developer Cloud energy photoelectric limited. The project, in Gurin, a big agricultural…

Gov Peter Mbah lauds REA over Off-Grid Energy Access

Emporium Reporters

This Enugu state Governor,Peter Mbah has commended the Rural Electrification Agency REA for its efforts in delivering energy access solutions to communities across the nation, the Governor assured the Agency of his support to enable the sustainable delivery of off-grid solutions to the unserved and the underserved.   Gov Mbah gave this commendation when he received a delegation from the Rural Electrification Agency, led by the Agency’s Board Member representing South-East, Honourable Chidi Emmanuel Nwogu; Mr. Olaniyi Netufo, the Executive Director of Corporate Services at the REA and REA’s South-East…

REA MD,Ahmad Salihijo Ahmad visits Makoko Community, restates collaboration with State Govts, Private Developers

Emporium Reporters

The MD/CEO, Rural Electrification Agency REA,Ahmad Salihijo Ahmad has said the agency will continue to expand its impact footprint while working in collaboration with the state governments as well as private sector developers.Ahmad Salihijo Ahmad disclosed this during a one day visit to Makoko community in Lagos , Nigeria.   The REA Boss who was accompanied during the visit by Engr. Barka Sajou, the Executive Director, Technical Services and other REA team members maintained that. the agency is committed to alleviating Energy Poverty for Socio-Economic Growth in the rural communities.…

ZUNGERU HYDROELECTRIC DAM: Gov Sani Bello applauds President Buhari,says project ‘ll boost power supply, beneficiary to host communities

Emporium Reporters

Niger state Governor ,Abubakar Sani Bello has commended President Muhammadu Buhari for the completion of the 700MW Zungeru Hydroelectric Power Project in Niger State.   The Governor gave the commendation when he joined the Minister of Power, Eng. Abubakar Aliyu and the Chairman,Senate Committee on Power, Senator Gabriel Suswam on a fact-finding visit to the facility.   He described the project as excellent, adding that the Hydroelectric Dam being the fourth in the state would benefit the surrounding communities and ensure access to more electricity to the people of the…

FG suspends planned removal of fuel subsidy

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The Federal Government has suspended plans to remove fuel subsidy by June this year. Minister of Finance, Budget and National Planning, Ahmed Zaniab gave the indication on Thursday, shortly after the National Economic Council, NEC, meeting, chaired by the Vice President, Yemi Osinbajo. She said the NEC, which comprises State Governors deliberated on the issue extensively and came to the conclusion that it will not be wise to remove subsidy as soon as the new administration is trying to settle down to governance. She also noted that the existing committee…

Zungeru Hydroelectric Power Project to be commissioned first quarter, 2023 – Minister

Emporium Reporters

The Zungeru Hydroelectric Power Project in Niger State estimated at $1.2 billion and expected to add 700 Mega Watts of electricity to the national grid will be inaugurated in the first quarter of next year.   This was disclosed by the Minister of Power, Engr. Abubakar Aliyu during an inspection visit to the Power Plant in Zungeru. The Minister who was accompanied by the Secretary to the Government of Niger State (SSG), Ahmed Ibrahim Matane revealed that the project was at the 98% completion stage.   Engr. Aliyu who went…

Gombe customers commend Jos DisCo

Emporium Reporters

Customers in Gombe State last Thursday commended the Management of Jos Electricity Distribution Plc just as the company urged unmetered customers to embrace metering under the Meters Asset Providers scheme currently in place.   The commendations and the call were made at ABMAR HALL opposite Federal Teaching Hospital, Gombe during a consultative forum organised by the electricity outfit to sensitize customers on the negative effects of vandalism, energy theft, staff assault, and the need for metering amongst other things. Alhaji Aliyu Abagah of the National Emergency Management Agency and Alhaji…