Oil & Energy

‘Energy Transition Target Needs Huge Investment’

Published

1 year ago

August 26, 2024

The Nigeria Extractive Industries Initiative (NEITI) says Nigeria would require huge investments in the coming years for it to meet its energy transition targets.
The Executive Secretary, NEITI, Dr. Orji Ogbonnaya Orji, stated this when he received the Ambassador of Belgium, Pieter Leenknegt, High Commissioner of Australia, Ms. Leilani Bin-Juda, and High Commissioner of Canada, Jamie Christoff, at NEITI House, in Abuja.
Orji said with Nigeria’s economy still largely reliant on the oil and gas industry, the question of what becomes of its huge hydrocarbon deposits needs to be resolved.
Noting the Federal Government’s decision to use natural gas as the transition fuel, he stated that about $20 billion annual investments were needed in the next ten years to develop gas infrastructure.
Orji said “at current dependency levels, Nigeria and most developing countries already face significant threats to their economy from the prospect of a permanent decline in global demand for crude oil.
“Given the fiscal problems Nigeria has experienced from short-term disruptions in crude oil and gas output, the much longer-term and permanent decline in demand would have a far-reaching impact on the country’s economy.
“While the transition from carbon-based fuel will have significant long-term impact on Nigeria’s revenue and exports, the transition would also have other impacts on the economy.
“A direct consequence of the transition would be the loss of fossil fuel as a source of energy. In 2021, crude oil and gas accounted for 46% of energy use and 78% of electricity generation in Nigeria.
“The transition would therefore require significant financial investment for the country to generate renewable energy to replace energy previously generated from carbon fuels.
He added that the fear of the “known risks in most of the affected countries far outweighs the potential unknown opportunities except we utilize the immense opportunities within the extractive industries transparency initiative, its global network and multi stakeholders framework to search for solutions”.
The NEITI boss further charged the countries’ representatives to “consider looking towards these areas as you strive to bridge the current existing investment gaps between Nigeria and your countries”.
In their separate remarks, the envoys pledged their support to NEITI and the wider stakeholders’ community in Nigeria to promote transparency in the extractive industries.

Oil & Energy

Electricity Consumers Laud Aba Power for Exceeding 2025 Meter Rollout Target

Published

6 days ago

January 19, 2026

The Tide

Nigeria’s newest Electricity Distribution Company (DisCo), Aba Power, has gained consumers’ commendation for the provision of more smart meters than the other 11 Discos in the country combined in 2025.

The Electricity Consumers Association of Nigeria (ECAN), Southeastern Zone, gave the commendation in a statement signed by it’s Chairman, Engr.Joe Ubani, and Secretary, Comrade Chris Okpara, and issued at the end of its first 2026 Executive Committee meeting, held in Abakaliki, the Ebonyi State capital, at the weekend.

The statement revealed that all 12 DisCos in Nigeria provided 175,302 meters under the Meter Asset Provider (MAP) scheme and 44,104 prepaid meters under the vendor-financed framework as of the third quarter of 2025.

It said “Aba Power alone gave end-users over 100,000 smart meters by the end of last September.This means that Aba Power exceeded its 2025 target of giving its customers 100,000 smart meters by 2025, which many analysts thought was a stretch goal, meaning something that was initially thought to be impossible.

“More importantly, the data shows that Aba Power, despite being Nigeria’s youngest DisCo and the smallest in terms of population and geographical spread as it covers only nine of the 17 local government areas (LGAs) in Abia State, provided more prepaid meters than the other 11 DisCos combined”.

Citing figures sent monthly to NERC by the Head of the metering team at Aba Power, Engr. Alfred Atega, ECAN noted that the other 11 DisCos were carved out of the defunct Power Holding Company of Nigeria (PHCN) and got privatized in November 2013, stating though that the Nigerian government retains 40% shares in each.

The association disclosed that Aba Power was able to provide 122, 464 prepaid meters by the end of last year through vendor-finance arrangements with four Chinese and Nigerian metering firms adding that it supplied 116,883 single-phase meters and 5,581 three-phase meters.

Quoting the Aba Power senior brand and communication manager, Edise Ekong, ECAN explained that this utility metered all 122,464 customers from 27 feeders in and around Aba, Abia State’s economic nerve-centre.

According to the statement, Ekong said “We have actually since this year increased the number of metered customers to 133,000”, stated Ekong, also an engineer, according to ECAN.

“Work is progressing on three feeders, namely, the Omoba Feeder, the Geometric Feeder, and the Polymer Feeder as they have system issues.

“The customers on these feeders will be metered once repair and rehabilitation work on them is concluded”.

Oil & Energy

NUPRC Unveils Three-pillar Transformative Vision, Pledges Efficiency, Partnership

Published

6 days ago

January 19, 2026

The Tide

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled Its vision for the country’s upstream sector.

This transformative vision rests on three pillars of Production Optimization and Revenue Expansion; Regulatory Predictability and Speed; and Safe, Governed and Sustainable Operations.

The Chief Executive, NUPRC, Mrs Oritsemeyiwa Eyesan, who disclosed this at a stakeholders meeting with members of the Oil Producers Trade Section (OPTS), the Independent Petroleum Producers Group (IPPG), emerging players and other major stakeholders in the oil and gas industry, in Lagos, recently, said this aligns with President Bola Ahmed Tinubu’s renewed hope agenda and his plan to hit a production target of 2mbpd by 2027 and 3mbpd by 2030.

Eyesan plans on increasing production and revenue expansion through the recovery of shut-in volumes with economic value, arresting decline, reducing losses, and accelerating time-to-first oil—without increasing burdens or transaction cost.

This, she said, had already begun by recently “turning on the light” in a long shut-in asset.

Eyesan explained that regulatory predictability and speed can be achieved by running regulation like a service, enforcing rules transparently and making quick time-bound decisions.

The new NUPRC boss plans to strengthen governance, process safety, host community outcomes, and encourage decarbonisation through safe, governed and sustainable operations.

“Going forward, the Commission will be measured on the following key success metrics -Faster, predictable regulatory approvals, higher, more secure and sustainable production, credible licensing and disciplined acreage performance, world-class Health, Safety and Environment (HSE) and process safety outcomes, trusted measurement, transparency, governance and data integrity,” she said.

Eyesan promised that under her leadership, the NUPRC would enhance regulatory efficiency and predictability by publishing Service Level Agreements (SLAs) for all major approvals adding that the timeline to production would be reduced through proactive discussions regarding all necessary approvals, implementation of stage-gate processes, and mutual agreement on timelines with the commission.

She said “Stakeholders are encouraged to submit their projects for consideration. For matured opportunities, please submit your request latest end of Q1, 2026. This would provide a simplified and holistic framework that creates obligations for both operators and the Commission.

“The Commission will launch a digital workflow for permitting, reporting and data submissions. NUPRC will work with the industry to identify capacity gaps and develop tiered intervention in the most critical areas with immediate impact on regulatory efficiency while we harmonize our own internal processes to eliminate conflicting regulatory actions and reduce friction”.

She revealed that the NUPRC’s internal transformation programme through a project Management office is in flight saying “I will provide more details on this in the coming days”.

The NUPRC boss also convened a CCE–Operators Leadership Forum for monthly engagement with participants including all operators of NNPC, OPTS, IPPG, and emerging players adding that it would be focused on approval timelines, production restoration, infrastructure integrity, and gas monetisation and development.

“This is expected to enable the NUPRC to identify systemic bottlenecks and provide greater predictability”, she said .

Eyesan also stressed the need to improve hydrocarbon accounting and measurement by tracking every barrel produced and promptly addressing discrepancies or losses.

On host community, the NUPRC boss encouraged all operators to liaise with the commission “as we plan first engagement with host community leaders to reaffirm commitment to HCDT (Host Community Development Trust) implementation”.

She also said one of her key goals is to ensure 100% to the Petroleum Industry Act within 12 months. This, she said, will be monitored with a dedicated team situated in her office.

“The commission going forward will issue quarterly progress reports. Let therefore bring all high impact shut in fields for approval. “On the Commission’s part, a 90-day program to fast track approvals for near-ready FDPs, well interventions, rig mobilisation and other quick-win opportunities have commenced,” the CCE stated.

Oil & Energy

Collective National Prosperity Is Our Driving Force – NNPCL

Published

6 days ago

January 19, 2026

The Tide

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Engr. Bashir Bayo Ojulari, has reaffirmed the company’s national mission, saying collective national prosperity shall be the driving force of the energy firm.

In his New Year message to staff, tagged ‘We Achieved. We Drive The Future’, Ojulari set the tone for 2026 priorities reflecting on strong delivery despite global energy volatility.

According to him, in 2025, the country recorded significant landmarks in oil exploration and production.

In his words, “Exploration and production achieved a record 355 thousand barrels of oil per day — the highest level since 1989,”

“We advanced production through Madu First Oil, Soku Pipeline optimisation, and the Akpo West Start-up, while commissioning Gbaran Nodal Compression Train.

“We reached major infrastructure milestones with the commissioning of the ANOH-OB3 pipeline and the successful AKK River Niger crossing.

“NNPC Retail expanded its footprint into the West African sub-region with our lubricant brand, Oleum.

“We successfully hosted the first-ever NNPC Group Earnings Call, announcing our audited 2024 financial results.

“We strengthened employee well-being through a much-improved compensation package. We welcomed 1,000 Tigers into our organisation to intentionally build the next generation of NNPC leaders.”

Explaining the success method of the company, the GCEO listed board and staff members as the major forces.

He said “Our Board showed visible support for execution excellence by approving the new Delegation of Authority and Delegation of Financial Authority frameworks to improve efficiency and empower leadership across the business.

“Behind each of these milestones are our people—your expertise, your judgement, and your belief in the potential of our organisation. These accomplishments belong to all of us collectively, and each of us should proudly identify with these great strides. Across every directorate, asset, and office, your collaboration, ownership, and commitment remain the true foundation of our success,” he said.

Disclosing the corporation’s future plans, Ojulari noted that although the previous initiative, the “’Fit-For-Future’ transformation imperatives established in the second half of 2025, had ensured a stronger foundation and a clearer focus for its operations in 2026, the new year would be anchored on four strategic attributes—Execution Excellence, Profitable Growth, Partner of Choice, and Enterprise-First Mindset.

On execution excellence, Ojulari promised to “deliver results with discipline and speed by applying a more effective cadence — setting clear rhythms for planning, execution, and review. By prioritising critical tasks and systematically driving execution, we will identify risks early, enable data-backed decisions, ensure clear accountability for outcomes, and achieve consistent operational excellence.”

Ojulari assured profitable growth by embracing robust partnerships adding that NNPC Limited is committed to “pursuing intentional and value-driven growth. By focusing on the right projects and investments, strengthening efficiency and applying commercial rigour, we will grow profitably and responsibly, delivering sustainable returns for NNPC Limited and long-term value for our ultimate stakeholders — Nigerians”.

“We seek to earn trust as a dependable, transparent, and performance-driven partner. By keeping our word, working transparently, and acting with integrity, we will deepen relationships with joint venture partners, investors, contractors, and host communities, unlocking greater value and accelerating delivery. Our partnerships will reflect who we are and what we stand for.”

On the new strategy of developing an enterprise-first mindset among staff and partners, Ojulari said NNPC Limited must remain focused on its goals.

“We must continue to think and function as one enterprise — deepening professionalism, functional excellence, and talent development. We must entrench collaboration above silos, promote shared success over individual wins, and embrace a mindset that prioritises long-term impact over short-term gains.

“This way, we ensure that we move faster, execute better, and achieve more together.

“As we embrace 2026, let us do so with a renewed sense of purpose, confidence in our collective capability, and pride in the difference we are making. I am excited and believe you equally are about the journey and opportunities ahead of us”, he stated.

By: Lady Godknows Ogbulu