NERC queries Abuja Disco for over-billing customers

The Nigerian Electricity Regulatory Commission (NERC) yesterday  issued the Abuja Electricity Distribution Company (AEDC) a notice of enforcement action over what it described as ‘manifest and flagrant breaches’ of approved methodology for estimated billing of electricity consumers, The Nation reports. Its Head, Public Affairs Department, Dr. Usman Abba Arabi in a statement yesterday, said the […]

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Chad Basin exploration suffers setback

Four months after the Federal Government said it was going to intensify the search for oil in the Chad Basin in 2015, nothing has yet to happen in this regard, according to a report by The Punch. In the face of dwindling oil reserves, the Federal Government, through the National Petroleum Investment Management Services (NAPIMS), had […]

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CBN Governor proposes sale of JVs with IOCs

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has proposed that the incoming government to be led by Major-General Muhammadu Buhari (rtd) consider selling down its majority stakes in joint ventures with multinational oil companies to shore up state finances and raise funding for infrastructure development. According to the UK-based Financial […]

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Buhari’s oil policy likely to focus on structural reforms first, taxes last – APC

Nigeria’s president elect Muhammadu Buhari’s priorities for the oil sector may be focused on ending corruption and reforming the opaque national oil company as opposed to fiscal related issues, All Progressives Congress (APC) sources have confirmed to Reuters. Senator Bukola Saraki, whose APC party controls both houses of parliament after a landslide win, told Reuters; “We need […]

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