New Telegraph

Tinubu Moves Crude Oil Sales From NNPCL To CBN

Tinubu Moves Crude Oil Sales From NNPCL To CBN

President Bola Tinubu has ordered the Central Bank of Nigeria (CBN) to take over the responsibility for crude oil sales from the Nigerian National Petroleum Company Limited (NNPCL). The new development was confirmed by a…

Ship-Owners Calls On FG To Cease Weavers Of Foreign Ships

Ship-Owners Calls On FG To Cease Weavers Of Foreign Ships

In a bid to show commitment to growing the regional shipping sector, the Nigeria Ship-Owners Association (NISA), has called on the Federal Government to cease giving waivers to foreign ship owners operating in the Cabotage…

I&E Window: Nigerians in dilemma as naira plunges to record N1,348.63/$1

I&E Window: Nigerians in dilemma as naira plunges to record N1,348.63/$1

Despite the Central Bank of Nigeria (CBN) announcing early on Monday that it had released another tranche of $500 million to various sectors as part of its ongoing efforts to clearing the backlog of verified…

Electricity Subsidy: Federal Govt spent over N5trn in 10 years –NERC

Electricity Subsidy: Federal Govt spent over N5trn in 10 years –NERC

The Federal Government has spent over N5 trillion in the last 10 years for electricity subsidy, the Nigerian Electricity Regulatory Commission (NERC) has said. According to a report from NERC seen by New Telegraph, the…

FG warned against selling power plants to cronies

FG warned against selling power plants to cronies

Following the need to improve power generation in the country, the Federal Government has been advised to be transparent in any future arrangements aimed at disposing of power plants to private investors. According to the…

Govt’s hand over of 700MW Zungeru to MESL’ll reduce power instability

Govt’s hand over of 700MW Zungeru to MESL’ll reduce power instability

Managing Director of Mainstream, Audu Lamu, has said that hand over by the Federal Government of over the $1.3 billion Zungeru Power Plant to Mainstream Energy Solutions Limited will drastically reduce the current instability of…

Chevron paid $3.4bn annual taxes, royalties to FG

Chevron paid $3.4bn annual taxes, royalties to FG

President of Chevron International Exploration and Production, Mr. Clay Neff, has said that the average annual tax and royalty remittances of Chevron Nigeria Ltd (CNL) over the past three years has reached $3.4 billion. He…

Ikeja Electric advises customers against illegal dealings

Ikeja Electric advises customers against illegal dealings

Ikeja Electric Plc (IE) has advised its customers not to get involved in illegalities, especially on activities under power lines. The Head of Corporate Communications, IE, Mr Kingsley Okotie, gave this advice in a statement…

Nigeria’s power grid collapsed 46 times in 6 years –IEA

Nigeria’s power grid collapsed 46 times in 6 years –IEA

Nigeria’s national power grid collapsed 46 times in six years from 2017 to 2023, the International Energy Agency has said. The report explained that Nigerians endured more nationwide blackouts in 2023, especially on September 14…

Natural gas key demand for renewable energy, efficient power

Natural gas key demand for renewable energy, efficient power

The utilisation of gas is a veritable strategy to mitigate the negative impact of climate change, conserve the environment, and increase the Nigeria’s electricity delivery, industry operators and regulators have said. The operators include, the…