Category: Energy

  • First Ghana’s deep water firm begins oil well appraisal

    First Ghana’s deep water firm begins oil well appraisal

    In fulfilment of its pledge to commence well appraisal within three months, Ghana’s firm, the pioneer Ghana ‘s Deep water oil firm, Springfield Exploration and Production Limited, has begun well appraisal activities.

    The exploration is coming barely three months after an international tribunal directed the government to let the firm do further work to complete the Afina-Sankofa unitisation.

    A statement from the company yesterday said the firm had promised to appraise the Afina-1x well within three months of the ruling.

    On October 17, 2024, the Deepsea Bollsta deep offshore Rig contracted by Springfield from Northern Ocean, a Norway company arrived at Afina-1x Well at the West Cape Three Points (WCTP) Block 2 offshore and commenced operations to execute its mandate.

    The Tribunal, on July 8 this year, adjudicating between the government of Ghana and Eni Ghana Exploration and Production and Vitol Energy, declared that the government were well within their rights under the Laws of Ghana to issue a unitisation directive.

     The tribunal specified a timeline of six months maximum for the unitisation to be completed, once the work is completed.

    Springfield subsequently issued a statement indicating its acceptance of all judicial directives, local and international, and pledged to do exactly as had been directed. 

    The indigenous energy company’s Chief Executive Officer, Kevin Okyere, who shared his thoughts on the milestone, said that the company’s tenacity and resilience was a testament to its commitment to succeed and to motivate the average African that ‘nothing is impossible if they set their minds to it’.

    His words: ‘‘We have a clear understanding of what being an upstream operator entails and so we have hired the best possible team with over 60 years of collective experience working for all the super-majors and majors of the world.

    “We work with all the best blue-chip companies to execute all technical works, studies and drilling programmes. Being a smaller operator, but working with the same expertise and diligence as the big operators, we can make decisions swiftly to benefit all our stakeholders including the government and people of Ghana.” 

    The CEO further said one of the most critical challenges in the industry at this time is how to secure the services of an efficient rig, expressing delight that Deepsea Bollsta was already at work.

    “Our research has shown that during this busy time in the drilling industry, rigs would not be available for another year and yet Springfield managed to find one and drilling commenced.

    “ This has all happened within a space of three months. It is worthy of note that consistent with its track record and show of resilience, despite what challenges Springfield has faced, it always bounces back stronger and find solutions for every situation it finds itself in, ”the company stated.

    The company, it said, had invested a lot of resources to get the job done and invested over $60 million for the ongoing well-test and appraisal, an incredible feat for an indigenous company.

    Okyere was upbeat about the outcome of the appraisal saying the data before them is very positive and that the team was out to confirm it.

    Also at the stakeholders’ engagement, Okyere, recalling how far the company had come, explained that the latest move will help stop the decline in Ghana’s oil production.

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    “I would like to basically announce to everyone here that the rig is finally in the country and we have commenced the appraisal programme. We are going ahead to build this appraisal well so that we can finally finish and stop the decline of Ghana’s production and hopefully help add more production to the oil and gas industry in Ghana. 

    “As the first Ghanaian company and the first African company to own and operate a deep offshore oil block, drill and find hydrocarbons, I think we need to give all ourselves an applause that we’ve really done very well.

    “All I would like to say today is that if people can go deep in the ocean and find oil, it means that there’s nothing that a Ghanaian or the African can put their mind to that they cannot achieve,” he noted.

    Earlier, community stakeholders,  including hundreds of fishermen had lauded the company when it met with them to share vital information on the well-test and appraisal.

    Speaking at the engagement forum, Nana Kweku Amosa, a Fisherman from the Jomoro District praised Okyere, for his visionary leadership and courage in venturing into an area considered to be the preserve of foreigners.

    Amosa said that the company, a wholly Ghanaian–owned firm must be supported to succeed just like Aliko Dangote was assisted by the state and its institutions to succeed in Nigeria.

    Springfield and its partners engaged with the stakeholders to inform them about the arrival of the Deepsea Bollsta Rig, a semi-submersible rig to be utilised to appraise the Afina-1x well which made a significant discovery in 2019.  

    They advised the fishermen against fishing close to the rig to avoid accidents that could cost the companies and the state millions of dollars and human lives.

    Springfield’s previous success in drilling the Afina Well, it said, is the basis for a positive campaign outcome projected to last six weeks. 

    Local and international blue chip operators in the supply chain of the energy sub-sector are also part of the latest campaign.

    Presenting the work programme of the rig to the participants, Corporate Affairs Manager of the company, Mr Kennedy Nunoo, said the rig would not stay beyond the stipulated time and appealed to the Chief Fishermen and fish mongers to share the information with their friends and relations when they return to their landing beaches.

    Officials from the Ghana National Petroleum Corporation (GNPC), the Petroleum Commission, the Fisheries Commission, the Environmental Protection Agency, the Marine Police Unit of the Ghana Police Service and the Ghana Navy attended the event.

  • Bresson launches N180 billion Magboro Power Plant, signs power purchase agreement with IBEDC

    Bresson launches N180 billion Magboro Power Plant, signs power purchase agreement with IBEDC

    Bresson launches N180 billion Magboro Power Plant, signs power purchase agreement with IBEDC

    The first phase of the Magboro Power Plant officially commenced on Monday, October 28, 2024, marked by the signing and unveiling of a 30 MW power purchase agreement between Bresson AS, Magboro Power Company, and Ibadan Distribution Company (IBEDC).

    Within 11 months, premium customers in the Magboro and Mowe areas are expected to enjoy 24-hour uninterrupted electricity, thanks to this collaboration between Bresson and IBEDC, at rates lower than the current Band A tariffs.

    A statement issued by the company’s Senior Media and Communications Adviser, Oluwasegun Abifarin, confirmed that the Magboro plant, with a design capacity of 90 MW, is set to receive its first shipment of Titan 130 Solar Turbines by April 2025.

    Engr. Francis Agoha, Acting Managing Director of IBEDC, remarked that this partnership is in line with the company’s strategic commitment to enhancing energy availability for its customers.

    He said: “This agreement marks a significant milestone in our continuous efforts to ensure consistent and affordable power for the Magboro community and beyond. 

    “We are committed to forging partnerships that foster progress and deliver lasting solutions to the power challenges faced by communities within our network.”

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    In his remarks, Dr. Gbenga Hashim, Chairman and CEO of Bresson AS, expressed gratitude, noting that the journey to establish the Magboro Power Plant, which began nearly two decades ago, is finally coming to fruition.

    Magboro Power Company Limited, a reputable independent power developer, is set to play a pivotal role in this project.

    Notable attendees at the event included Mr. Austin Avuru, founding Managing Director of Seplat Petroleum; His Royal Highness Oba Adio Ademuyiwa, Traditional Ruler of Magboro; Ogun State Governor’s Special Adviser on Energy, Jide Onakoya; banker Mr. Moli Mitchelli; Bresson Director Mr. Vincent Gueneau; Stock Brothers, and other industry leaders.

    The event also saw the presence of Bresson and IBEDC staff and management.

  • Energy advocates, APC group write Tinubu over local refineries

    Energy advocates, APC group write Tinubu over local refineries

    The Energy Reforms Advocates, ERA  and the APC Youth Vanguard for Change, APCYVC have urged President Bola Tinubu to investigate the persistent failure of the Nigerian National Petroleum Corporation Limited (NNPCL) to restore the Port Harcourt and other local refineries. 

    The groups expressed concerns over the $2.9 billion approved in 2021 for the rehabilitation of the refineries, which remain non-functional despite NNPCL’s assurances.

    In a letter addressed to the President, they lamented the continuous state of decay within the petroleum sector, stating it is a reflection of a persistent failure of NNPCL leadership. 

    These failure, the  ERA Convener, Opialu Fabian and APCYVC Convener, Ezewanka Ugochukwu who signed the letter, said  has led to economic sabotage, health hazards and environmental risks due to the importation of fuel.

    They criticised NNPCL’s repeated promises and prolonged inaction, citing systemic failure and corruption within the leadership. 

    They questioned the utilisation of funds allocated for refinery rehabilitation, which seems unaccounted for. Billions spent on maintenance over 25 years have yielded little to no fuel production.

    The groups proposed immediate actions, including revamping the regulatory framework, reactivating local refineries, transparency in subsidy implementation, strengthening NNPCL’s leadership, and empowering the public with information.

    The letter partly reads: “Your Excellency, we are witnessing a dire situation. Despite the approval of $2.9 billion in 2021 for the rehabilitation of these vital refineries, they remain non-functional. NNPCL has repeatedly assured Nigerians that these facilities would soon become operational, yet these assurances have failed to translate into reality. 

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    “The refineries stand dormant, while Nigeria, an oil giant and Africa’s largest oil producer, finds itself dependent on foreign countries to meet its domestic fuel needs. The consistent promises and prolonged inaction serve not only as a betrayal of trust but as a profound reflection of a systemic failure within the leadership of the NNPCL.

    “The ongoing importation of fuel represents an insult to Nigeria’s position as a leading crude oil producer. This cycle of imported substandard fuel undermines the health, safety, and economic stability of our citizens. The consumption of such fuel has led to health hazards, poses a risk to vehicles, and has severe implications for agricultural machinery. Nigerian citizens, meanwhile, pay a premium price for this subpar fuel, which contributes to rising inflation and daily hardships.

    “It is unacceptable that as one of the top oil-producing nations in the world, Nigeria is forced into a position where it has no choice but to rely on imported petroleum products to meet domestic demand. This prolonged reliance on imports has placed a significant strain on the nation’s foreign reserves, while a small, corrupt few reap immense profits. The corruption within this system is so deep-seated that these vested interests seem to actively oppose any attempt to rehabilitate our refineries.

    “The importation of fuel goes beyond economic implications; it endangers the lives of Nigerian citizens and the environment. Vehicles, agricultural equipment, and power generators are all at risk of serious damage from this substandard fuel. 

    “The time has come for systemic reform. The root causes of these challenges are multi-faceted, encompassing institutional corruption, regulatory weaknesses, and a pervasive culture of unaccountability. We propose the following actions as immediate steps toward a lasting solution:

    “Full investigation and accountability

    revamp of the regulatory framework,

    immediate efforts to reactivate local refineries’ transparency in subsidy implementation, strengthening NNPCL’s leadership and oversight and empowering the public with information and action.

    ”Mr. President, as Nigeria seeks to redefine its path towards sustainable economic growth, self-sufficiency, and a better future for its citizens, there can be no compromise on energy security. As it stands, the actions and inactions of NNPCL and its leadership are actively undermining our national interests. We implore Your Excellency to take swift and decisive action to address these longstanding failures.”

  • APC youths, CSO hit NNPCL over Kaduna, Port-Harcourt refineries

    APC youths, CSO hit NNPCL over Kaduna, Port-Harcourt refineries

    The Energy Reforms Advocates of Nigeria and collaboration APC Youth Vanguard for Change, have criticised failure of the Nigerian National Petroleum Corporation Limited (NNPCL) to restore the Port Harcourt and Kaduna refineries despite massive investments. 

    The groups, at a briefing on Friday, also berated the Mele Kyari-led NNPCL for alleged importation of adulterated fuel.

    The refineries’ rehabilitation has been plagued by delays and unfulfilled promises with $1.5 billion approved in 2021 for the Port Harcourt Refinery and an additional $1.4 billion for the Warri and Kaduna refineries. 

    Kyari has repeatedly assured Nigerians of the refineries’ imminent restoration without any result.

    However, the advocates criticised NNPCL’s leadership, questioning the sincerity of its statements and citing concerns over the integrity of rehabilitation contracts. 

    Dr. Opialu Fabian alleged that certain entities within NNPCL might be intentionally obstructing progress to sustain the lucrative fuel importation business.

    He highlighted the devastating impact of the refineries’ failure on Nigerians, who face endless fuel queues, exorbitant prices, and inflated costs of goods and services. 

    Fabian demanded accountability from NNPCL, emphasizing the need for transparency in contract awarding and execution.

    The statement partly reads: “We have chosen this moment to speak on behalf of Nigerians to highlight the ongoing, persistent challenges around the Port Harcourt, Warri, and Kaduna refineries. 

    “These failures, unfortunately, continue to place Africa’s largest oil producer in the ironic position of depending entirely on imported petroleum products for domestic consumption. This dependency has drained our nation’s foreign reserves, inflated fuel prices, and left Nigerians queuing endlessly at filling stations.

    “The excuses provided by NNPCL are, unfortunately, repetitive. We have heard, time and again, explanations citing ‘obsolescence’ ‘corrosion’ and the ‘absence of baseline data for structural integrity verification’.

    “It’s still fresh in our memory that Mr. Mele Kyari, the NNPCL’s Group Chief Executive Officer, announced on March 15 this year that the Port Harcourt refinery would begin production by the end of the month. Sadly, this was yet another unfulfilled promise, as we have not seen any production from the refinery. It begs the question: Are these statements made with sincerity, or are they merely attempts to pacify Nigerians with false hope?

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    “Today, the energy sector is a critical cornerstone of Nigeria’s prosperity. Our country, rich in crude oil, should be reaping the benefits of this resource through local refining, lower fuel prices, and foreign exchange conservation. Instead, the leadership at NNPCL continues to drain our economy by prioritizing importation, an act that not only places strain on our foreign reserves but also destabilizes our currency. 

    “We urge the government to reconsider the composition of NNPCL’s leadership. After more than three years of unfulfilled promises and costly mismanagement, it is evident that the current leadership lacks the vision and competence needed to drive Nigeria’s energy sector forward.

    “Evidently, the path forward requires a new approach to how contracts are awarded, how funds are managed, and how performance is measured within NNPCL and the refineries.

    “Therefore, we must demand that NNPCL provides Nigerians with a detailed account of the current state of the Port Harcourt, Warri, and Kaduna refineries. This report should include an outline of how funds have been utilized, reasons for the missed deadlines, and a clear, realistic timeline for when Nigerians can expect results.

    “In conclusion, this is a critical moment for Nigeria, one that calls for action and resolve. We are no longer willing to stand by and watch as the nation’s potential is squandered by unaccountable leaders and inefficient practice”.

  • Segilola honoured as Nigeria’s top 10 non-oil exporters by NEPC

    Segilola honoured as Nigeria’s top 10 non-oil exporters by NEPC

    Segilola Resources Operating Limited (SROL), Nigeria’s pioneering gold exploration and production company, has been recognised as one of the Top 10 Non-Oil Exporters in Nigeria by the Nigerian Export Promotion Council (NEPC).

    The award was presented at an esteemed event celebrating the nation’s top non-oil exporting companies. 

    Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, commended the role of these companies in driving Nigeria’s economic growth.

    This accolade underscores SROL’s significant contribution to Nigeria’s ongoing efforts to diversify its economy. As the country continues to expand beyond its traditional oil sector, the solid minerals industry stands at the forefront of this diversification strategy.

    Speaking on the recognition, Mr. Austin Menegbo, Country Manager for SROL, expressed pride in the company’s achievements.

    “This recognition is a testament to our unwavering commitment to supporting Nigeria’s economic diversification through robust export initiatives.

    “At SROL, we are proud to contribute to national development, particularly in job creation. Impressively, 44% of our workforce is drawn from Osun State, with 28% from our host communities.

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    “This reflects our dedication to fostering sustainable growth and providing opportunities within the regions where we operate.”

    Menegbo added: “This acknowledgment encourages us to continue our journey towards sustainable development and community enrichment. We are excited about the future and remain committed to making even greater contributions to Nigeria’s export landscape.”

    As the operator of Nigeria’s first commercial gold mine, SROL’s flagship project, the Segilola Gold Mine, has set a precedent in the country’s mining sector.

    Located in Osun State, the mine commenced commercial production in 2022 and achieved an output of 98,006 ounces of gold in its first year.

    In 2023, the mine produced an additional 84,609 ounces, demonstrating consistent performance. With a life of mine extending 5.5 years, Segilola Gold Mine continues to be a vital asset in Nigeria’s solid minerals sector.

    Segilola Resources Operating Limited remains steadfast in its mission to drive economic growth, create local employment, and advance the mining value chain within Nigeria.

    The recognition from NEPC further affirms SROL’s role as a leader in non-oil export and sustainable development, as the company continues to break new ground in the country’s mining industry.

  • National grid loses 1,200MW as vandals damage two transmission towers

    National grid loses 1,200MW as vandals damage two transmission towers

    The national grid has lost 1,200MW as vandals destroyed two transmission towers along its 330kV Shiroro–Kaduna transmission lines.

    The Transmission Company of Nigeria (TCN) made this known yesterday in a statement issued in Abuja by its Public Affairs General Manager, Mrs. Ndidi Mbah.

    She said, “The vandalised Shiroro – Kaduna 330kV lines 1&2 are vital lines through which bulk power is transmitted to parts of the North West region, with each line capable of carrying 600MW.”

    The statement said two towers along its 330kV Shiroro–Kaduna transmission lines one and two have been vandalised, damaging parts of both transmission lines.

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    According to reports from the Shiroro Regional office of TCN, the 330kV transmission line one tripped first, followed shortly by the second, as efforts were still ongoing to reclose the first line, prompting the urgent mobilization of local vigilantes to patrol the lines. This led to the discovery of two damaged towers, towers T133 and tower T 136, with their cables badly damaged at several points.

    The statement said arrangements are in top gear to deploy the newly procured “emergency restoration system” to the site, pending the reconstruction of the damaged towers.

    The company said it has also conducted an aerial survey in collaboration with security operatives, given the area’s vulnerability to banditry, which poses a significant threat to both TCN installations and personnel.

    In the interim, according to the statement, “our engineers have implemented a temporary measure to supply bulk power to the Kaduna and Kano regions via the 330kV Kaduna – Jos transmission line.

    “The vandalism of the towers and transmission lines presents a significant challenge to bulk power transmission in that axis. We are however committed to re-erecting the towers and restringing the transmission lines to restore bulk power transmission through both 330kV power transmission lines.”

  • Stakeholders laud launch of Nigeria Wind Energy Council

    Stakeholders laud launch of Nigeria Wind Energy Council

    Stakeholders in the energy sector have described the launch of the Nigeria Wind Energy Council (NWEC) as a viable step towards boosting Nigeria’s energy mix in the bid towards  tackling its  perennial power crisis.

    They gave the commendation at the formal launch of the Nigeria Wind Energy Council (NWEC) ,an affiliate of the Global Wind Energy Council(GWEC), recently  in Abuja.

     The launch brought together experts in renewable technologies from within and outside the shores of Nigeria, as well as key industry players from the private and public sectors, including the Federal Ministry of Power and the Nigerian Meteorological Agency, and members of the academia.

    The event with the theme, “Harnessing the power of wind for Nigeria’s Future,” featured various presentations and panel discussions on prospects for effective utilization of wind energy in Nigeria, with Emeritus Professor, Abubakar Sari Sambo presenting the Keynote Address.

    According to the stakeholders, the wind energy initiative was a step in the right direction that will bring Nigeria from the wood in terms of  cleaner energy, adding that as the country continues to grapple with energy deficit, there is need to effectively harness renewable technologies, especially on wind energy.

    Mr Temitope Omowumi, the Council Coordinator, said wind energy was a viable option to complement the nations’ energy mix, adding   that although Nigeria has huge prospects for wind energy utilisation, its development was still at nascent  stage because of  lack of awareness and the required know-how.

    According to him, the NWEC is a non-profit, non-political, and independent council that is set up to promote and champion the cause of wind energy in Nigeria.

    “I think from a lot of the presentations that are made today, and from studies, wind is a major consideration in the renewable energy mix and globally it is one of the fastest-growing renewable energy technologies.

    “It is also complementary to other technologies like solar and if we want to break the gap between energy access and energy transition, wind is a major technology that has to be considered.

    “It is to time to replace the dirty energies with cheaper and cleaner ones and wind is a major one, as is cheaper and effective.

    “We will be looking for collaborations with all relevant stakeholders to push the objectives, the mission and vision of the council.

     “The other part of our thematic focus area, aside from communication, includes market intelligence and data, pilot projects, promotion, and capacity development which is very critical to the adoption of this technology,” he said.

    Wangari Muchiri, Africa Director, Global Wind Energy Council (GWEC),said     renewable energy  plays vital role in the effort  to end energy crisis in Nigeria, and therefore called for adequate support for the sector.

    “We have launched the Nigeria Wind Energy Council, which is an affiliate of the Global Wind Energy Council and it’s great to have a body that finally will be advocating for wind energy in Nigeria.

    “We are looking forward to working with the private sector, government stakeholders and others to explore this wind and make it a key part of development in Nigeria.

    “I am coming from Kenya, and 15 percent of our grid is wind energy, and I have  seen various wind farms be the backbone of wind energy of  energy in Kenya.

    “I think the same thing can happen here in Nigeria, and it is not only big wind farms but also small wind farms that can power businesses, markets and various other applications.

    “I think wind is viable for Nigeria, and even I local governments can be a key part of this with the Electricity Act, allowing states to procure their electricity and to have their systems,” she said.

  • Group seeks removal of ‘hidden levies’ on Dangote fuel price

    Group seeks removal of ‘hidden levies’ on Dangote fuel price

    The Coalition for Energy Reforms and Good Governance Advocacy has advocated for removal of what it described as ‘hidden levies and charges’ on Premium Motor Spirit (PMS) better known as petrol locally sourced from Dangote Petroleum Refinery as a first step towards making the product affordable for Nigerians.

    The group’s position, stated in Abuja on Sunday by its Executive Director Jonathan Amanda, followed the latest increase in the pump prices of petrol causing distress among Nigerians questioning the increasing cost of the product when it is being locally refined.

    This is amid controversies surrounding petrol pricing from the Dangote Refinery and the role of the Nigerian National Petroleum Company Limited (NNPCL). 

    The group noted that “removing hidden levies on petrol sourced from Dangote Refinery has become imperative, given that the cabal that once fed fat on criminal petrol subsidies has now resorted to making money through secret levies on petrol.”

    The Coalition called on NNPCL to urgently eliminate ‘hidden charges’ on fuel prices from the Dangote Refinery, stating that these hidden levies have been added to the Premium, inspection fee, margin and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) fee that were publicly declared.

    It argued that “these invisible government levies, including those from the Nigerian Maritime Administration and Safety Agency (NIMASA) are unjustified and inflate the cost of locally produced fuel. These levies, which have no place in the local production and sale of petroleum products, prevent the Dangote Refinery from selling fuel at more affordable prices.

    “Without these additional charges, some of which are layered on the crude supply, local refineries could potentially sell fuel at prices as low as ₦400 per litre,” the Coalition asserted.  

    The advocacy group called for a comprehensive review of all levies imposed on locally refined petroleum products along the entire value chain, while urging the Federal Government to reveal the true impact of these levies to Nigerians, emphasising that removing them would significantly reduce fuel prices and alleviate the financial burden on the masses.

    It insisted that transparency and fairness in fuel pricing are crucial for the country’s economic well-being.

  • You have rights after paying for electricity, NERC tells Nigerians

    You have rights after paying for electricity, NERC tells Nigerians

    The Nigerian Electricity Regulatory Commission (NERC) has enlightened Nigerians that they have a lot of rights that must be met by the service providers.

    NERC through its Commissioner for Customer Affairs, Aisha Mahmoud, during a 3-day Customer Complaints Resolution Town Hall Meeting admonished Nigerians to be familiar with their rights and ensure they demand it from the service providers.

    She said “We do know that most Nigerians don’t know their rights, even though they have a lot of rights because we keep telling customers that when they pay for electricity, they are not just paying for electricity, but they are also paying for services.

     “So they should demand their services be rendered to them. So they don’t know about these rights. We have them among all these beautiful regulations and others on our website, which Nigerians are mostly not aware of. So, we are here just to inform them that you have this right, and you should insist that services be provided to you.

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    “We are here to listen to customers, listen to their complaints, and have those complaints resolved on the spot. So we are here for three days just to listen to whatever customers have to say regarding the electricity industry.”

    Speaking about the meeting, Mahmoud said it was organised to address complaints from customers and noted that it would also enable the Commission to have feedback from the customers.

    Also, the Acting Managing Director of Ibadan Electricity Distribution Company(IBEDC), Engr. Francis Agoha said the service provider is committed to ensuring that the response rate to customers’ complaints exceeds 99 percent.

  • Hidden charges behind fuel price increment, CSO alleges

    Hidden charges behind fuel price increment, CSO alleges

    The Coalition for Energy Reforms and Good Governance Advocacy has accused the Nigerian National Petroleum Company Limited (NNPCL) of deliberate mischief, citing hidden charges as the reason behind the recent fuel price increment.

    According to the coalition, the NNPCL’s decision to systematically raise the price of Premium Motor Spirit (PMS) from ₦568 to ₦1,075 in a year is a result of poor policies, mismanagement and alleged corrupt practices. 

    Speaking at a briefing in Abuja, convener Yakubu Dauda said unnecessary charges and taxes have been built into the cost of fuel, intentionally designed to inflate the price of PMS for local consumption.

    Dauda said the NNPCL’s failure to prioritise investments in local refineries and its reliance on imported fuel products have been attributed to vested interests. 

    “The company has failed to address the fundamental issues within the Nigerian petroleum sector.

    “Instead of developing and maintaining local refineries to meet domestic demand, the NNPCL appears more interested in maintaining a system of dependency on imported fuel products,” Dauda stated.

    The coalition called on the government to conduct a comprehensive audit of the NNPCL’s operations, focusing on allegations of corruption and unnecessary charges. It also urged the government to invest in local refineries and end the reliance on imported fuel.

    Dauda believed that transforming Nigeria into a net exporter of refined petroleum products would bring tremendous economic benefits, including job creation, reduced cost of living, and revenue generation for critical sectors.

    The coalition urged Nigerians to demand transparency, accountability, and good governance in the energy sector, stating that the hardship faced by Nigerians is unnecessary and that it is time for the NNPCL and its leadership to be held accountable.

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    “Those found responsible for inflating fuel prices and sabotaging local refineries must be held accountable, regardless of their positions of power. Furthermore, we call on the government to urgently invest in Nigeria’s local refineries and put an end to the reliance on imported fuel. 

    “Nigeria has the resources, the manpower, and the expertise to become a net exporter of petroleum products, but this can only happen if we break free from the grip of the corrupt cabals that have hijacked the industry. The continuous importation of fuel is not sustainable, and it is time to take bold steps to ensure that Nigerians benefit from the nation’s oil wealth.

    “The Coalition for Energy Reforms and Good Governance Advocacy urges all Nigerians to stand united in demanding transparency, accountability, and good governance in the energy sector. We cannot continue to tolerate a situation where a few individuals enrich themselves at the expense of the entire nation. The hardship Nigerians are currently facing is unnecessary, and it is high time that the NNPCL and its leadership are held to account,” Dauda stated.