Regulatory

FG launches digital platforms to monitor oil production, others

Nov 1, 2018

The Federal government through the Department of Petroleum Resources (DPR) on Tuesday launched digital platforms aimed at easing the misery of the industry’s high cost in the exploration and production of petroleum resources. The platforms, Value Monitoring Benchmarking (VMB)and Fiscal Payment Administrative Systems (FisPas), are aimed at monitoring crude oil, gas production, fiscal payments, gas…

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NERC set to unveil over 100 Meter Asset Providers in November

Oct 28, 2018

As part of the measures to bridge the metering gap and end the regime of outrageous estimated billing of customers, the Nigeria Electricity Regulation Commission (NERC) will next month unveil over 100 Meter Asset Providers (MAP) that will supply meters to electricity consumers across the country. NERC also said plans were underway to increase electricity…

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NSCDC arrests 7 over illegal oil bunkering, adulteration in Calabar

Oct 25, 2018

The Nigeria Security and Civil Defence Corps (NSCDC) has arrested 7 suspects over alleged illegal oil bunkering and adulteration of crude oil worth over N10 million in Calabar, Cross River. Mr Stephen Lar, Commandant of NSCDC in the state, disclosed this while addressing newsmen on the arrest in Calabar South on Wednesday. He disclosed that…

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DPR to limit supply of petrol to Nigeria’s border areas

Oct 24, 2018

The Department of Petroleum Resources (DPR) in Adamawa on Wednesday said it would limit supply of petroleum products to border areas to control the illegal exportation of products. Mr Ibrahim Chiroma, the Controller of Field Operations of DPR in Adamawa, made this known in an interview in Yola. Chiroma said that smuggling of petroleum products…

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NSCDC in Edo intercepts 45,000ltrs of illegally-refined petroleum products

Oct 24, 2018

The Nigeria Security and Civil Defence Corps (NSCDC), Edo Command, has intercepted a truck laden with 45,000 litres of suspected illegally-refined petroleum products. Mr Makinde Ayinla, the State Commandant of the NSCDC, made the disclosure to Newsmen in Benin on Tuesday. Ayinla said that the truck was intercepted at Aduwawa area on Benin/Auchi road. He…

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Nigeria to miss out on $3.3trn investments in oil, gas over failed reforms

Oct 22, 2018

Nigeria will miss out on a total planned capital expenditure (capex) of US$3.3 trillion across the oil and gas value chain from 2018 to 2025 unless it carries out over due reforms of the sector. The country is already missing out as total capex of US$545 billion is expected to be spent in 2018 but…

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DPR shuts three fuel stations in C/River over price hike

Oct 18, 2018

The Department of Petroleum Resources (DPR) in Cross River State has shut down three fuel stations in Odukpani local government area for selling petrol at N150 per litre against the government approved price of N145 per litre. DPR Operations Controller in Cross River, Mr Bassey Nkanga, who led his team on a surveillance of fuel…

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Senate begins probe of NNPC over $3.8b fuel subsidy fund

Oct 17, 2018

The Senate on Tuesday began investigation into the alleged mismanagement of the over $3.8 billion fuel subsidy fund by the Nigeria National Petroleum Corporation. The Senate’s decision was sequel to a point of order raised by Senator Biodun Olujinmi, the Minority Leader of the Senate. Olujinmi told her colleagues that it was dangerous to allow…

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SON clamps down on substandard concrete electric poles in Rivers, Bayelsa

Oct 16, 2018

The Standards Organisation of Nigeria (SON) has advised users of concrete electric poles within Rivers and Bayelsa States axis to be cautious in making purchases of the product to avoid patronage of substandard and life-endangering poles. SON also advised electricity distribution companies and individuals to patronize only certified concrete electric poles under the Mandatory Conformity…

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NERC mulls capping of estimated billing by Discos

Oct 15, 2018

As the outcry from electricity consumers over ‘crazy’ bills continues to rage almost five years after the privatisation of the power sector, the Nigerian Electricity Regulatory Commission is considering putting limits on estimated billing. NERC noted that the issue of estimated billing had continued to constitute a major source of complaint by customers of all…

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