Echotitbits – Nigeria News

Category: Energy

  • Federal Government Unveils Ambitious Gas Master Plan to Drive 2026 Industrial Growth

    Federal Government Unveils Ambitious Gas Master Plan to Drive 2026 Industrial Growth

    According to The Punch, the Nigerian government is set to launch over 60 critical gas projects under the newly refined Gas Master Plan 2026. This initiative is designed to transition the nation toward a gas-driven economy, significantly increasing domestic production while expanding export capacities to bolster foreign exchange reserves.

    The policy framework focuses on leveraging Nigeria’s vast natural gas reserves to power local industries and reduce the cost of energy for manufacturers. Government officials believe that by prioritizing gas-to-power and gas-to-industry projects, the country can mitigate the impact of fluctuating oil prices and create a more resilient industrial base.

    ThisDay reported that the Ministry of Petroleum Resources is actively seeking private-sector partnerships to fund the infrastructure required for these projects. A spokesperson for the ministry stated, “Our goal is to turn Nigeria into a regional gas hub within the next twenty-four months.” The Guardian also validated the report, noting that the plan includes significant pipelines and processing plants, with an analyst quoting: “The execution of these 60 projects will be the true litmus test for Nigeria’s energy transition.”

    Echotitbits take:

    This move is a strategic pivot toward “Gas as a Transition Fuel,” aligning with global energy trends. The success of this master plan could drastically lower production costs for Nigerian businesses, which are currently crippled by high diesel prices. However, the primary challenge remains security for pipeline infrastructure and the ability to attract the massive capital investment required to see these projects to completion.

    Source: The Punch – https://punchng.com/nnpc-unveils-gas-master-plan-to-boost-nigerias-energy-sector/, and February 2, 2026

    Photo credit: Vanguard

  • Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Nigeria’s Crude Oil Exports to the U.S. and India Show Significant Growth

    Tribune reports that Nigeria’s share of crude oil exports to the United States and India has risen, with recent surveys putting Nigeria’s share at 3.3% in those markets as other suppliers’ shares declined.

    The growth is attributed to pricing competitiveness for Nigerian sweet crude and geopolitical shifts affecting global supply chains.

    The Guardian and ThisDay also referenced the trend, including demand diversification dynamics and Nigeria’s positioning for Asian refinery demand.

    Echotitbits take: Higher export share is only a win if Nigeria can sustain volumes and reduce leakages. Oil theft, high operating costs, and downtime can erase headline gains. The strategic upside is using export momentum to stabilize FX inflows while domestic refining ramps up—if feedstock supply becomes more reliable.

    Source: The Punch –  https://punchng.com/nigeria-exports-2-57bn-crude-to-us-highest-in-africa/  2026-01-30

    Photo Credit: The Punch

  • Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Geregu Power Plc Names Sean Manley as Interim Chief Executive Officer

    Leadership reports that Geregu Power Plc appointed Sean Manley as Interim Chief Executive Officer, effective February 2, 2026.

    The appointment is reportedly subject to approval by the Nigerian Electricity Regulatory Commission (NERC). Manley is described as having more than three decades of experience in the power sector, including work at Siemens on thermal power projects.

    The Punch and ThisDay also covered the development, noting positive investor sentiment and expectations that his international experience could support technical partnerships and operational upgrades.

    Echotitbits take: Interim CEO appointments usually signal a board prioritizing continuity and operational discipline while it searches for a permanent successor. For Geregu, the near-term market signal will be measurable improvements in availability, heat-rate performance, and maintenance execution—especially as power-sector reform pressures increase.

    Source: BusinessDay – https://businessday.ng/companies/article/geregu-taps-siemens-energys-sean-manley-as-interim-ceo-to-spearhead-new-growth-strategy/ 2026-01-30

    Photo Credit: BusinessDay

  • NUPRC Opens Bidding for 50 New Oil Blocks to Boost Production

    NUPRC Opens Bidding for 50 New Oil Blocks to Boost Production

    Channels TV reports that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) opened the 2026 bidding round for 50 oil blocks as part of efforts to lift crude oil output and revenues.

    The commission says it has lowered entry barriers to attract local and international independent players and has pledged transparency under the Petroleum Industry Act (PIA).

    The Punch and Vanguard also highlighted the economic implications, including a focus on blocks with proven reserves and the investment rationale behind lowering barriers for capable operators.

    Echotitbits take: After years of output pressure from divestments and operational disruptions, this bid round will be a credibility test. The decisive variable is security—oil theft and pipeline sabotage still distort project economics. Expect strong interest from indigenous operators and smaller international independents if the fiscal and security signals hold.

    Source: The Punch – https://punchng.com/nuprc-opens-50-oil-blocks-for-bidding-bars-weak-firms/ 2026-01-30

    Photo Credit: The Punch

  • Power Sector Crisis Deepens as National Grid Records First Collapse of 2026

    Power Sector Crisis Deepens as National Grid Records First Collapse of 2026

    Nigeria’s national electricity grid reportedly suffered a total system collapse on Tuesday, January 27, plunging large parts of the country into darkness as engineers worked on staged restoration.

    The Transmission Company of Nigeria (TCN) attributed the failure to a sudden drop in system frequency after a gas supply disruption at a major thermal station, reigniting debate over the fragility of national infrastructure.

    Manufacturing groups say frequent collapses are driving up production costs as factories rely on diesel generation, while consumers complain about weak communication from distribution companies during outages.

    Echotitbits take: Despite huge investment claims, the grid remains Nigeria’s Achilles’ heel. The durable fix is decentralization: states should accelerate independent power markets enabled by the 2023 Electricity Act, rather than waiting on a single national spine.
    Source: The Guardian – https://guardian.ng/news/national-grid-suffers-first-collapse-of-2026-generation-falls-to-zero/ 2026-01-27

    Photo Credit: The Guardian

  • Shell CEO Announces Massive $20 Billion Investment Commitment for Nigeria

    Shell CEO Announces Massive $20 Billion Investment Commitment for Nigeria

    Shell Plc has announced a fresh $20 billion investment commitment to Nigeria’s energy sector, disclosed by global CEO Wael Sawan during a meeting at the Presidential Villa. Sawan praised recent policy reforms, saying they have helped restore investor confidence in Nigeria’s oil and gas industry.

    The investment is expected to target deepwater assets and gas infrastructure, including projects linked to Bonga North and NLNG. Shell’s leadership indicated the company is positioning for long-term capital deployment, with gas infrastructure aligned to Nigeria’s energy transition ambitions.

    The commitment is being framed by government officials as support for the administration’s wider economic agenda and efforts to reverse years of declining oil production. Separate reporting also described the package as a potential lifeline to multiple idle assets, while emphasizing leadership and policy clarity as factors driving the decision.

    Echotitbits take: After years of divestment talk, this massive commitment from Shell is a vote of confidence. The challenge now lies in ensuring security for these assets to prevent the crude oil theft that plagued previous years.
    Source: The Punch – https://punchng.com/shell-ceo-hails-tinubus-leadership-pledges-20bn-investment-in-nigeria/ 2026-01-26

    Photo Credit: The Punch

  • CBN Projection Puts Petrol Around N950/Litre, Raising Fresh Inflation Concerns

    CBN Projection Puts Petrol Around N950/Litre, Raising Fresh Inflation Concerns

    According to Vanguard, a CBN-linked macro projection suggests petrol could average around N950 per litre, reflecting a model-driven outlook shaped by exchange rates and supply costs. (more…)

  • ICPC Says Probe of Ex-NMDPRA Chief Continues Despite Dangote Petition Withdrawal

    ICPC Says Probe of Ex-NMDPRA Chief Continues Despite Dangote Petition Withdrawal

    Observations made by Premium Times show the ICPC says it will continue investigating allegations linked to the former head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, even after the Dangote Group reportedly withdrew its complaint.

    The commission said its mandate allows it to pursue potential systemic wrongdoing irrespective of a petitioner’s withdrawal, especially where public interest is implicated.

    The inquiry is expected to examine records and decisions linked to the regulator’s tenure in the oil and gas space.

    **Echotitbits take:** This stance reinforces the idea that anti-corruption isn’t a private dispute to be settled quietly. Watch for legal actions if investigators identify evidence strong enough to sustain prosecution.
    Source: Guardian — https://guardian.ng/news/nigeria/metro/icpc-confirms-probe-of-ex-nmdpra-boss-continues-despite-dangote-withdrawal/ 2026-01-08

    Photo Credit: Guardian

  • NERC Says Togo, Niger and Benin Owe Nigeria ₦25bn for Electricity Supply

    NERC Says Togo, Niger and Benin Owe Nigeria ₦25bn for Electricity Supply

    As disclosed by The Punch, the Nigerian Electricity Regulatory Commission (NERC) said Togo, Niger and Benin Republic owe about ₦25 billion for power supplied under regional agreements.

    The rising arrears have renewed debate about exporting electricity on credit while Nigeria faces domestic supply constraints and tariff pressures.

    NERC said discussions are ongoing on payment plans, warning that persistent non-payment could affect supply volumes.

    **Echotitbits take:** Recovering these debts matters for sector liquidity and stability. Watch for tougher contract terms—especially pre-payment structures—and clearer alignment between regional commitments and domestic power needs.
    Source: The Punch — https://www.google.com/amp/s/punchng.com/power-gencos-invoices-fall-n80-56bn-on-weak-demand/ 2026-01-08

    Photo Credit: The Punch

  • Cooking Gas Prices Hold Around ₦1,000/kg as Supply Improves

    Cooking Gas Prices Hold Around ₦1,000/kg as Supply Improves

    Details shared by The Punch indicate liquefied petroleum gas (LPG) prices have steadied at about ₦1,000 per kilogram in several major cities, after months of volatility.

    Industry sources linked the stability to improved supply conditions and more dependable local output, which has reduced pressure from imports.

    Marketers, however, warned that distribution costs—driven by logistics challenges and diesel prices—remain a risk factor.

    **Echotitbits take:** Stable LPG pricing is a meaningful relief for households and small businesses. The next test is infrastructure: without better distribution networks and cheaper logistics, price stability can quickly unravel.
    Source: The Punch — https://punchng.com/cooking-gas-stabilises-around-n1000-kg-as-supply-improves/ 2026-01-08

    Photo Credit: Punch Newspapers.