Echotitbits – Nigeria News

Tag: Energy

  • Petrol market tightens as depot owners raise ex-depot prices toward ₦800/litre

    Petrol market tightens as depot owners raise ex-depot prices toward ₦800/litre

    Reporting by Punch indicates private depot operators in Lagos have raised the ex‑depot price of petrol toward ₦800 per litre, a move that could ripple into higher retail pump prices if sustained.

    Traders and logistics players say the adjustment reflects supply uncertainty and financing/transport costs, while marketers watch whether the change will hold or ease as supply channels stabilise.

    TheCable quoted an industry source warning that “Prices will likely increase in the coming days,” even as another refinery source insisted “Production is still going on, of course.” Tell Magazine similarly noted that operators “increased the ex‑depot price of petrol to about N800 per litre.”

    If ex‑depot prices remain elevated, Lagos commuters and businesses may face another round of transport‑led inflation—so watch depot pricing, supply volumes, and any regulatory guidance.

    Echotitbits take: If ex‑depot prices remain elevated, Lagos commuters and businesses may face another round of transport‑led inflation—so watch depot pricing, supply volumes, and any regulatory guidance.

    Source: The Punch — January 4, 2026 (https://punchng.com/private-depots-hike-petrol-price-to-n800-litre-in-lagos/)

    The Punch January 4, 2026

    Photo Credit: The Punch

  • DisCos added 187,765 meters in two months as national metering rate inches up

    DisCos added 187,765 meters in two months as national metering rate inches up

    Photo: Disco image – ThisDay

    According to The Punch, electricity distribution companies installed meters for 187,765 customers in September and October 2025, as reported by the Nigerian Electricity Regulatory Commission (NERC).

    The report indicated 80,943 customers were metered in September and 106,822 in October, nudging the national metering rate upward from 55.37% to 56.07% and slightly expanding the total metered customer base.

    The Guardian also cited the NERC metering factsheet and highlighted the month-to-month improvement, while pointing out that the overall metering gap remains substantial despite incremental progress.

    Vanguard similarly reported the figures and reiterated NERC’s framing that the factsheet is meant to track DisCo progress in closing Nigeria’s long-running metering deficit.

    Analysis/Echotitbits take: Nigeria’s metering story is now about pace and fairness. The monthly gains are positive, but too slow relative to demand growth and consumer distrust of estimated billing. Watch for: (1) how quickly DisCos meter high-complaint feeders, (2) the availability and financing of meters under MAP/National Mass Metering efforts, and (3) whether dispute resolution improves as metering expands.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/187765-electricity-customers-metered-in-two-months-nerc/)

     

  • NNPC Upstream Unit Hits Highest Daily Output Since 1989

    NNPC Exploration and Production Limited recorded 355,000 barrels per day on December 1, 2025, which it described as its highest daily output in 36 years. The company also reported a steady rise in average daily production since 2023.

    NNPC says improved asset management and operational discipline are driving the gains as Nigeria targets higher national output over the next few years.

    2025-12-10

    Punch Newspapers

    2025-12-10

  • Continental Chamber Releases African Energy Outlook 2021

    Continental Chamber Releases African Energy Outlook 2021

    African Energy Chamber has released its Energy Outlook for 2021, assessing Africa’s competitiveness compared with other frontiers, while highlighting the countless opportunities that continue to emerge and exist across the entire energy value chain.

    The report explored the forces shaping up continent’s energy market after the historic shocks of 2020, and analysed the upcoming recovery on the back of the global energy transition and persisting market uncertainties.

    After a year of historic crisis, the outlook offered guidance and solutions for African energy stakeholders to navigate troubled waters and support a strong recovery in 2021 and beyond.

    The report provided detailed information in areas of critical importance, and included sections examining jobs and employment, cash-flow and profit forecasts, the expenditure and investment outlook, carbon emissions, oil and gas market projections, and regional production outlook.

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    Pressing issues including notably the Organisation of Petroleum Exporting Countries (OPEC)’s production cuts, ongoing regulatory reforms, the impact of the Coronavirus (COVID-19) by region and country, and offshore drilling demand across multiple continental shelves are analysed in detail.

    ‘’It goes without saying that Africa has witnessed its fair share of difficult times this year.

    “Even though oil and gas activities have taken a hit, optimism surrounding African projects, fiscal regime and investments still exist but requires all of us as stakeholders to do more.

    “There has always been opportunity in drastic and unprecedented times, which gives us a lot to look forward to,” said the Executive Chairman of the African Energy Chamber, Nj Ayuk.

    The outlook was the result of strong regional and international cooperation between actors of government, and public and private sector stakeholders across sub-Saharan Africa.

    It gathered the latest available data on sub-Saharan Africa’s hydrocarbons markets, and benefits from the insights of key local, regional and international companies, experts and economists, making it the most comprehensive resource to date on the future of African energy markets.

    ‘’The report highlights the expected outcome of post COVID-19 mitigation strategies to the African energy sector in 2021 and beyond.

    “It also assesses Africa’s competitiveness compared with other frontiers, and highlights the countless opportunities that continue to emerge and exist across our entire energy value chain.

    “We look forward to this report serving as a basis for sound decisions towards a thriving energy industry in Africa,’’ said Senior Vice President at the African Energy Chamber, Verner Ayukegba.

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    African Energy Chamber issued rallying call to all industry stakeholders to work together on a reform agenda to keep African natural resources competitive and create jobs; short-term outlook for African oil and gas remains marked by COVID-19 and uncertain market conditions expected to result in a $30 billion cut in Capex spending (2020-2021); South Western Africa expected to emerge as the next energy frontier on the continent on the back of high-impact wells coming up in 2021 and 2022; the continent’s production of oil and gas is expected to increase in 2021 as OPEC’s sanctions ease and on the back of increase oil output from Libya and increased gas production from Algeria and Egypt.

    The pandemic notably came at a particularly difficult moment in Africa, exacerbating already challenging market conditions on the back of a competitive American shale industry, the delaying of major projects due to regulatory uncertainty, and increasing global attention to decarbonisation.

    African Energy Chamber notably expected a CAPEX spending cut of $30 billion over the 2020-2021 period, and has identified a further $80 billion of investment whose sanctioning would depend on improving market conditions, along with bold policy and fiscal reforms from African regulators.

    Idowu Sowunmi

  • Kariya Energy Set to Acquire Oil & Gas Assets in Mozambique, Nigeria, Senegal, Others

    Kariya Energy Set to Acquire Oil & Gas Assets in Mozambique, Nigeria, Senegal, Others

    After spending 16 months reviewing data from various the International Oil Companies (IOCs), Kariya Energy Monday announced its readiness to enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.

    Kariya Energy would pursue profitable small-scale Liquefied Natural Gas (LNG) projects across Africa, a niche that its leadership has been skilful in building and making it profitable and scalable, boasting significant potential across the African market.

    With its technology, the company could turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.

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    Kariya Energy’s technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.

    The company and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities.

    It would be pursuing acquisitions of various exploration and development plays either through farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.

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    Kariya Energy would continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.

    The firm’s strategy has focused on the innovation and evaluation of new opportunities for resource extraction with great technology that has produced results.

    Idowu Sowunmi

  • African Energy Chamber’s Committee Harps on Local Content as a Panacea Towards Africa’s Economic Recovery

    African Energy Chamber’s Committee Harps on Local Content as a Panacea Towards Africa’s Economic Recovery

    African Energy Chamber’s Local Content Advisory Committee has held its first meeting, placing local content development at the core of its activities towards the continent’s economic recovery.

    The meeting agreed that with several established markets like Nigeria or Angola and frontier energy markets such as Senegal or Uganda, the oil and gas sector has been supporting several of Africa’s economies.

    “As a result, the African local content has become a key priority for government, regulators and industry stakeholders. Issues around the perceptions and understanding of local content dynamics were major topics of discussion.

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    “Key points put forward included the need for African governments and companies to develop better implementation of local content policies and come up with new approaches putting entrepreneurship and capacity building as priorities.

    “From financing African starts ups, SMEs and companies to promoting an enabling business environment, it was agreed that African governments and regulators need to rise up to the task and provide for better conditions and environments for African entrepreneurs to thrive,” the committee stated.

    The committee members include: the Chief Executive Officer, Shoreline Energy International, Kola Karim; Managing Director, Saipem Contracting Nigeria Limited, Walter Peviani; and Managing Director, Jagal Energy, Jorg Kohnert.

    Others are: Managing Director/Chief Executive Officer, Ocean Deep Drilling ESV Nigeria Limited (ODENL), Chijioke Akwukwuma; President, Kearney Africa, Jude Kearney; President, Royal Triangle Energy Solutions, Eric Williams; CEO, Equatorial Resources, Pablo Memba; Country Manager, SpringRock Group, Ogutu Okudo; and Operations Director and President of the Executive Board, IFP Training, Rémi Mouchel.

    The chamber’s advisory committee added that established African energy markets such as Congo Brazzaville, Equatorial Guinea or Gabon are still missing a pool of strong local companies across the value-chain, and especially in upstream.

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    “Despite producing oil and gas for decades, their environment has remained until now unfavourable to the nurturing of entrepreneurs in oil and gas, especially because of a lack of domestic financing.

    “The regionalisation of the African content was identified as a key trend for the short and medium-term.

    “With the roll out of the African Continental Free Trade Area (AfCTFA) and upcoming first oil and gas in many African markets, the potential to have local content move away from a pure international-local perspective is real.

    “This is especially an opportunity for local companies within established markets, be it Nigerian companies regionalising the oil and gas content or South African and Kenyan companies regionalising content within the renewable energy space.

    “African companies have the means and opportunities to create regional ventures and partnerships taking the African content development to a new level, and must be seizing them.

    “Finally, inclusion in the workforce is set to become a major focus for the chamber and its committee, especially when it comes to promoting youth and women inclusion in the extractive industries.

    “A sustainable African energy industry will only be as strong as it is inclusive, and better mechanisms and policies need to be put in place to ensure African women and youth can build successful careers in the sector.

    “In that regard, upcoming producers such as Senegal, Mozambique or Uganda have a unique opportunity to truly innovate as they develop their own approach to capacity building and local content development.

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    “As the novel Coronavirus (COVID-19) pandemic further increases the need for localising value chains in Africa, local content development is set to become even more important for all industry stakeholders.

    “Its success will ultimately depend on the nurturing of capable and patient African entrepreneurs able to raise capital and engage regionally with the right partners to build successful ventures. In such a journey, cooperation with international companies, but especially amongst African entities, will be crucial,” the committee noted.

    Idowu Sowunmi

  • COVID-19: EurAfrican Forum Digital 2020 to Focus on Challenges and Common Points

    COVID-19: EurAfrican Forum Digital 2020 to Focus on Challenges and Common Points

    For the first time, EurAfrican Forum would be held exclusively online between September 3 and 4, bringing together personalities from the public and private sectors, and also representatives of civil society, entrepreneurs, activists and scientists.

    This year’s edition would focus on challenges and common points, with the theme: “In Search for a Common Ground in a Post COVID-19 World.”

    The programme would focus on five panel discussions, including: Perspectives on AU-EU relations; Matrix Energy Just Transition Made in Africa; Emerging and Fast Track Business; African Culture Feeding the World; and Connecting the Unconnected Due to the Global Public Health Crisis.

    Many international conferences have been cancelled or postponed due to the novel Coronavirus (COVID-19) pandemic, but at a time of risk and uncertainty, the Chairman of the Board of Directors of the Portuguese Diaspora, Filipe de Botton, believed that it’s a crucial moment for us to be together.

    “The only way to respond to a global crisis is to reestablish links, not only with political and private decision-makers, but also with civil society, in order to acquire a collective vision and establish global solutions.

    “Thus, we made the decision to hold the EurAfrican Forum Digital, so that we can play a role in the recovery of our economies” said Botton.

    The forum would bring together the biggest protagonists of change on the African and European continents, namely businessmen, activists, leaders and public and private decision-makers and all those who have been contributing to the construction of a positive dialogue between the two continents.

    Talks would continue, and the Digital Forum would provide the necessary tools for working together to find common ground in a post-COVID-19 world.

    EurAfrican Forum 2020 is an independent platform that brings together all those who are building a positive dialogue between Africa and Europe, including entrepreneurs, activists, researchers and policy makers.

    Idowu Sowunmi

  • Energy Chamber strengthens quest for enabling environment with key appointments 

    Energy Chamber strengthens quest for enabling environment with key appointments 

    African Energy Chamber has announced the appointment of some prominent experts in the oil and gas industry into its Regulatory Affairs Committee to serve on its Advisory Board for 2020 and 2021.

    The experts so appointed include: Regional CTO, Strategy and Innovation at Microsoft, Jovita Nsoh; Associate Attorney, Centurion Law Group, Oneyeka Ojogbo; Managing Director, Africa Oil & Gas Limited, Nicolas Bonnefoy; President/CEO, WTD Resources LLC, Bill Drennen; Managing Director/CEO, Ocean Deep Drilling ESV Nigeria Limited (ODENL), Chijioke Akwukwuma; and Bruce Falkenstein of Upstream Advisory and Consulting.

    The committee would be central to the chamber’s policy advocacy and advisory efforts across the continent to provide an enabling business environment for investors and entrepreneurs.

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    Members of the Regulatory Affairs Committee act in their personal capacity and gather decades of experience within the public and private sector, with a strong legal expertise of African and global energy markets.

    “African markets must stay competitive and must do better at attracting investment and respecting the sanctity of contracts.

    “From adopting progressive local content legislation to implementing better fiscal regimes, African energy markets must seize the opportunity offered by the global pandemic to review their existing frameworks, keep what is working and amend what is slowing down the pace of investment in the continent,” said the Executive Chairman at the African Energy Chamber, Nj Ayuk.

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    Given increasing competition for investment and challenging market conditions, the right to adopt market-driven policies and promote an enabling business environment across Africa is greater than ever.

    Acting as the link between the public and private sector, the African Energy Chamber strongly believes that a recovery from the novel Coronavirus (COVID-19) pandemic would require a stronger emphasis on market-driven policies, investors-friendly environments and regulations that embrace digitisation so African markets could compete for capital and technology globally.

    Idowu Sowunmi

  • Energy: Omoboriowo II, Karim, Campbell, others appointed into African Energy Chamber’s Advisory Committee

    Energy: Omoboriowo II, Karim, Campbell, others appointed into African Energy Chamber’s Advisory Committee

    The Chairman and Chief Eexecutive Officer, Genesis Energy Group, Akinwole Omoboriowo II; Chief Executive Officer, Shoreline Energy International, Kola Karim; Chief Executive Officer, Energy & Natural Resource Security, Inc., Derek Campbell; and others have been appointed into the African Energy Chamber’s United States-Africa Committee to serve on its Advisory Board and support the development of stronger energy cooperation and investment between the US and Africa.

    Other members appointed by the African Energy Chamber include: Chief Executive Officer, Azimuth Energy Investments LLC, Reginal ‘Reg’ Spiller; Executive Chairman and Chief Executive Officer, Africa Fortesa Corporation, Rogers Beall; President, Kearney Africa, Jude Kearney; Managing Director for Africa, Millenium Challenge Corporation, Alicia Robinson-Morgan; General Manager (Africa), Pioneer Energy, Ann Norman; and Chief Economist, American Petroleum Institute, Dean Foreman.

    In their personal capacities, the members of the US-Africa Committee have gathered several decades of experience in government and the private sector from both sides of the Atlantic, and share a passion for Africa and its development.

    The decision of the African Energy Chamber was borne out of the belief that the potential for capital, expertise and technology transfers between the US and Africa was being under-exploited.

    The US-Africa Committee is the first committee on the African Energy Chamber’s Advisory Board to be announced.

    The chamber has put together leading industry experts, executives and public representatives to support several initiatives over the course of 2020 and 2021, such as local content development, natural gas and energy transitions, the promotion of an enabling environment and the expansion of exploration activities.

    “The largest but also most recent discoveries in Africa were made by bold and capable American companies who have proven time and again that betting on Africa bears fruits.

    “At times when the continent seeks to develop much stronger gas value chains and attract investment into midstream and downstream infrastructure, we need to look back at the United States and develop stronger partnerships.

    “As Africa embraces energy transition, a substantial part of the capital needed to develop cleaner energy solutions also lies with American companies and institutions,” said the Executive Chairman at the African Energy Chamber, Nj Ayuk.

    African Energy Chamber added that while Power Africa remains to date the most successful initiative to develop Africa’s energy sector by tapping into American capital and technology, more could be done in light of the continent’s continued energy poverty.

    The chamber noted that from exploration to gas infrastructure, and from power technology to energy funding, the United States remains a global leader that has much to bring to Africa under the right partnerships and joint-ventures that could support local content development and jobs creation.

    Idowu Sowunmi