Reps give oil firms conditions for expatriate quota
The House of Representatives (the lower house of the Nigerian National Assembly) issued a directive that foreign oil and gas…
Nigeria, World Bank, Seven Energy sign deal to add 500mw to national grid
In fulfillment of its commitment to increasing power supply in the country and further tapping into the ‘gas to power…
Nigeria launches infrastructure programme to tackle insurgency in oil delta
Nigeria launched a $10 billion infrastructure programme in its restive Delta region as part of a plan to end an…
FG to Spend 61 Percent of External Borrowing On Power, Rail, Other Infrastructure Projects
The Federal Government has earmarked 61.2% of the $29.96 billion External Borrowing (Rolling) Plan for bankable infrastructure projects comprising: the…
ExxonMobil strikes 1-billion-barrel well off Nigerian shore
Exxon Mobil Corporation has made a significant discovery with a potential recoverable resource of between 500 million and 1 billion…
India looks to invest $15bn in Nigeria oil and gas sector
India is looking at signing a preliminary agreement with Nigeria in December for investing in refineries as well as exploration…
Malaysian firm invests $2.5bn on bio-diesel production in Nigeria
Bionas plans to establish a $2.5 billion factory for the mass production of bio-fuel from the Jatropha plants in Zaria,…
FG to set up a $500m fund to boost the mining sector.
The Federal government is in advanced talks with the sovereign wealth fund and stock exchange to set up a US$500m…
GE confirms interest in $2bn Nigeria railway concession
General Electric has stated that it will be investing $2.2 billion in a concession to revamp, provide rolling stock and…
Amaya Capital expands its Azura power generation platform with new investment from Actis
Amaya Capital recently pledged over $300m of equity commitments in its power generation platform. The new investment follows the acquisition…
IOCs to exercise preemptive rights in the event of assets sale
Major oil multinationals operating in Nigeria will seek to exercise the right of first refusal should the government decide to…
NNPC targets completion of critical Lagos gas pipeline by year end
The Nigerian National Petroleum Corporation (NNPC) plans to complete the ongoing Escravos to Lagos Pipeline System 2 (ELPS-2) project in…
Helios Pays $115.8 Million For 49% Stake In Oando Gas and Power
Helios Investment Partners LLP (Helios) has bought a 49% stake in Oando Plcs Nigerias midstream business subsidiary, Oando Gas and…
FG, firm sign 550MW power purchase agreement
The Federal Government recently signed a Power Purchase Agreement with Kingline Development Nigeria Limited, a new power generation firm with…
Siemens Nigeria builds 3m service facility, to boost local content
Siemens Nigeria Limited has inaugurated its new €3m facility in Port Harcourt to increase local capacity, in the Nigerian oil…
Dangote to begin coal mining in November
Dangote Cement Plc, a subsidiary of the Dangote Group, has switched its plant lines to coal to minimise cost and…
SEC plans a N5bn Capital Market Development Fund
Nigeria’s Securities and Exchange Commission (SEC) is planning a NGN5bn Capital Market Development Fund (NCMDF) to promote and enhance the…
FG slashes process for mining licences award to 40 days
The Federal Government has reduced the timeframe for the award of mining licenses in Nigeria, stating that henceforth, miners would…
NNPC, IOCs Undertake Audit of Nigeria’s Joint Venture Assets
The Nigerian National Petroleum Corporation (NNPC) said that it has commenced the audit of Nigeria’s joint venture (JV) assets in…
Shell Announces Force Majeure on Gas Supply in Nigeria
Integrated energy major, Royal Dutch Shell plc announced a force majeure on gas supplies destined for the liquefied natural gas plant in…
FG to end $7.4bn NNPC JV cash calls this year
The Federal Government has set out to terminate the funding of a $7.39 billion, about N1.478 trillion per annum Joint…
Dangote, Black Rhino confirm investment in Nigerian electricity projects
Black Rhino Group a portfolio company of Blackstone Energy and Dangote Industries have confirmed that they are investing US$5bn each towards the…
Niger Delta E&P to raise an additional $400m from capital market
Niger Delta Exploration & Production Plc has perfected plans to raise additional $400 million through a private placement and Initial…
Committee to develop a blueprint guide for the transformation of the Nigerian solid minerals sector
The committee inaugurated by the Federal Government, is set to produce a 25-year action plan for the transformation of the…
Seven Energy has secured US$100 million of additional equity capital
This is comprised of US$50 million from existing shareholders of the Group, including Temasek, Petrofac, Capital International Private Equity, Standard…
Coal remains important source of power generation
Worldwide electricity demand is projected to rise by about 85 per cent as living standards rise, economies expand and the…
Dangote project closes bank tranche
Nigerian Industrial conglomerate Dangote Group has signed a loan agreement with a group of local and international banks to fund…
Skye Bank mandates StanChart for oil facility
Nigerias Skye Bank has appointed Standard Chartered as mandated lead arranger (MLA) for a syndicated loan facility. The $100 million…
Oando clinches funding for ConocoPhillips assets
Oil firm Oando Energy Resources has secured the necessary funding to acquire the upstream oil and gas business of ConocoPhillips…
Afreximbank funds Nigerian power plant privatisation
The African Export-Import Bank (Afreximbank) has supported the privatisation of a Nigerian power plant located in Ogorode, in the Delta…
