Amidst ongoing dust raised by the new electricity tariff at the backdrop of inadequate power supply, electricity generation nosedived to 2,775 megawatts, MW, yesterday, a 32.3 per cent decline from 4,099.87MW recorded last week. This was contained in the data released by the Nigeria Electricity System Operator, NESO, a semi-autonomous unit of the Transmission Company of Nigeria, TCN. Findings by Vanguard indicated that there has been no improvement in the power value chain despite the recent review of Band A power consumers’ billing as there is yet inadequate supply of gas to the thermal stations, including the poor state of…

PRESS RELEASE Despite Afenifere's March 2nd 2024 initial public demand for transparency of the Lagos-Calabar Coastal Highway contract awarded to Chagoury’s Hitech Construction Company, and ex-Vice President Atiku Abubakar further probing last week, the government has failed to answer the calls for transparency, and continues the nearly twenty years wastage on the Lagos-Epe corridor. Afenifere demands more clarity on the Lagos-Calabar Coastal Highway Contract, especially the Lekki-Epe corridor that has been a source of controversy since 2008, when it was awarded as Private Public Partnership contract to Craneburg Construction of 29 Bourdillion Avenue, President Bola Tinubu's neighbours with obscure directors,…

One week after the Nigerian Electricity Regulatory Commission (NERC) increased electricity tariff for Band A customers to N225 per kilowatt hour from N68, electricity distribution companies are finding it hard to sustain the 20-24 hour supply to their customers on the band. It would be recalled that NERC had on April 3 increased the tariff for electricity customers that enjoyed a minimum of 20 hours electricity supply daily with the aim of attracting investment into the sector and freeing the government from the continuous payment of subsidy for rich customers. But it was observed that one week after the increase,…

Organisation of Petroleum Exporting Countries (OPEC) says Nigeria’s average daily crude oil production dropped to 1.23 million barrels per day (bpd) in March 2024. OPEC disclosed this in its monthly oil market report released on Thursday. The oil alliance said the production data was based on direct communication with Nigerian authorities. OPEC receives data on crude oil production from two sources: direct communication — which is from members of the group; as well as secondary communication, such as energy intelligence platforms. The oil cartel said the current output figure represents a 6.88 percent decrease from the 1.32 million bpd recorded…