Category: Power and Energy

Electricity: GenCos Threaten To Shut Down Over N4tr Unpaid Liabilities

April 15, 2025April 15, 2025 Rextun boss No Comments

The Power Generation Companies (GenCos) have threatened an imminent shutdown if the federal government fails to settle outstanding invoices totaling over N4 trillion. The chairman of the GenCos Board of Trustees (BOT), Col. Sani Bello (Rtd), raised the alarm over a looming shutdown of operations in a statement on Monday in Abuja. According to Bello,…

Power and Energy

NERC Slams N628m Fines on 8 Discos For Overbilling Unmetered Customers

April 11, 2025April 11, 2025 Rextun boss No Comments

The Nigerian Electricity Regulatory Commission (NERC) has sanctioned eight power distribution companies (DisCos) for noncompliance with the capping of estimated bills for unmetered customers. According to a statement on Thursday, the affected DisCos are Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola. NERC said the companies overbilled customers in violation of energy caps set…

Power and Energy

Crude Price Drops To $59 Per Barrel, Upsets 2025 Budget Implementation

April 9, 2025April 9, 2025 Rextun boss No Comments

The price of Crude oil has dropped to $59 for the first time since February 2021. Recent decline in crude oil prices follows an announcement by President Donald Trump on April 2, imposing sweeping global tariffs (including 14 percent on Nigeria) on all imports into the US. Moreso, on April 4, the Organisation of Petroleum…

Finance and Economy, Petroleum

Petrol Prices Set To Go Up As FG / Dangote Crude For Naira Deal Crashes

March 31, 2025March 31, 2025 Rextun boss No Comments

The Federal Government’s failure to renew the Crude for Naira agreement between NNPC Limited and Dangote Refinery, along with rising global crude oil prices, is set to push petrol pump prices higher across Nigeria in April and beyond. The six-month agreement, which expired in March, was initially brokered by the government last year. It allowed…

Petroleum, Trade and Commerce

Warri Refining And Petrochemicals Co Resumes Operations

December 30, 2024December 30, 2024 Rextun boss No Comments

The 125,000 barrels per day Warri Refining and Petrochemicals Company, WRPC has commenced operations. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, disclosed this during a tour at the facility on Monday. This is coming a month after the rehabilitation of the Port Harcourt refinery situated in Rivers…

Petroleum

Minister Debunks Collapsed Grid Saga, Reveals Cause Of Nationwide Blackout

October 16, 2024October 16, 2024 Rextun boss No Comments

The Minister of Power, Adebayo Adelabu, has dismissed reports that the national grid collapsed two times within 24 hours, stressing that there was only a trip-off. Adelabu stated that what occurred was a line tripping in certain quarters in the country. He said: “There was no grid collapse; there was a trip-off. When you talk…

Power and Energy

Marketers Hint Of Likely Hike In Petrol Pump Price

October 5, 2024October 5, 2024 Rextun boss No Comments

Nigerians should brace up for an escalation of the present hardship in the country as Nigerian oil marketers have hinted that there may be a fresh Petrol price hike as tensions build up between Israel, Iran and the Middle East. The President of the Petroleum Products Retail Outlets Owners Association, PETROAN, Billy Gillis-Harry, disclosed this…

Petroleum

FG To Spend N100bn On Electricity Meters Import – Adelabu

August 28, 2024August 28, 2024 Rextun boss No Comments

The Nigerian government, including the federal and state governments, plans to spend N100 billion to import electricity meters into the country to bridge metering gap in the Minister of Power, Adebayo Adelabu, disclosed this while addressing broadcasters in Ibadan, Oyo State recently, noting that this was under the Presidential Meter Initiative program. According to him,…

Power and Energy

NERC Reiterates, Its Not Consumer’s Responsibility To Buy or Fix Transformers

August 11, 2024August 11, 2024 Rextun boss No Comments

The Nigerian Electricity Regulatory Commission, NERC, says replacing or repairing bad electricity transformers is not that of customers but squarely that of power distribution companies, DisCos. Mrs Aisha Mamoud, Commissioner for Consumer Affairs, NERC, stated this on Saturday during a three-day Problem-Solving session between customers in Cross River and PHEDC from Thursday to Saturday, Aug….

Power and Energy

NUPRC To Dangote: We Facilitated 29 Million Barrels Of Crude To Your Refinery

August 10, 2024August 10, 2024 Rextun boss No Comments

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disagreed and countered claims by the Dangote Petroleum Refinery and Petrochemicals and other players in the industry that it has been weak in the enforcement of the Domestic Crude Supply Obligation (DCSO) to local refineries. The NUPRC took the position following revelations that it has facilitated the…

Petroleum