Agency Report Saudi Arabia is expected to ship in May halve the crude volumes to China it supplies in April as the Kingdom hiked its official selling prices while part of the supply is trapped in the Middle East due to the war. Saudi Arabia, the single biggest crude oil exporter in the world, is expected to send about 20 million barrels of crude to China next month, anonymous trading sources with knowledge of the matter told Bloomberg on Monday. The volumes in May would be halved compared to the 40 million barrels Saudi state oil giant Aramco is…
Author: Orientalnews Staff
Agency Report The United States’ NATO allies said on Monday they would not get involved in President Donald Trump’s plan to blockade the Strait of Hormuz, further ratcheting up tensions within the increasingly fragile alliance. Trump said the U.S. military would work with other countries to block all maritime traffic in the waterway, after weekend talks failed to reach an agreement to end the six-week conflict with Iran. The U.S. military later specified that the blockade, due to start at 1400 GMT on Monday, would only apply to ships going to or from Iranian ports. “The Blockade will begin…
Ken Okeke Nigeria’s former Petroleum Resources Minister Diezani Alison-Madueke has told Judge Michael Snow of Southwark Crown Court, London, that she never misused her position or solicited bribes during her tenure as Minister. Mrs Alison-Madueke, who is facing a five-count charge of accepting bribes and one of conspiracy to commit bribery, opened her defence against the allegations on Monday. The 65-year-old former Minister, in her testimony, stated that she had tried to push back against corruption in Nigeria and that any benefits she received were either reimbursed or significantly misrepresented by investigators. Prosecutors had…
Moses Ofodeme The National Chairman of the ruling party, All Progressives Congress (APC), Professor Nentawe Yilwatda, has declared that President Bola Ahmed Tinubu’s administration is implementing a historic and deliberate economic masterplan to transform Kano State into the foremost regional hub for commerce, manufacturing, logistics and transnational trade in Nigeria and across West Africa. Professor Yilwatda stated this in Abuja, weekend, that the Federal Government’s ongoing infrastructure and industrial investments across Kano and the wider Northern corridor are neither accidental nor isolated projects, but part of a coordinated strategy to restore Kano to its historic status as the economic…
Joyce Onwuka The Esther Matthew Tonlagha Foundation at the weekend rounded off a ‘5-Day Free Medical Check Up and Eye Surgery’ programme in Oporoza, Gbaramatu Kingdom, Delta State, with over 2,000 people from many communities in the state and its environs benefitting from the programme. The latest medical intervention programme, powered by Maton Engineering Nigeria Limited, came on the heels of similar programmes including the N500,000 funding support each of 30 women entrepreneurs, support of free medical financing for 200 sickle cell patients, and lately funding support for scores of students to enhance their technical skills on jobs, organized…
Tunde Bakare Government has set up a Gas-to-Power Monitoring Committee as part of fresh efforts to address persistent gas supply challenges undermining electricity generation across the country. Speaking at the inauguration in Abuja, the Minister of Power, Adebayo Adelabu, described the move as a “decisive and strategic step” aimed at resolving one of the most critical constraints in the Nigerian Electricity Supply Industry (NESI). Adelabu, according to a statement in Abuja by his spokesman, Bolaji Tunji, noted that gas-fired plants account for about 80 per cent of Nigeria’s electricity generation, but have continued to face setbacks due to supply…
Joseph Bakare The Nigerian Electricity Regulatory Commission (NERC) has issued Order No. NERC/2026/026 with the aim to improve transparency and efficiency in Nigeria’s power grid through enhanced reporting of regional Transmission Loss Factors (TLF). A NERC statement said data from the Nigerian Independent System Operator (NISO) indicate that the national average TLF was 8.71 per cent in 2024 but was reduced to 7.24 per cent in 2025. However, it noted that this still exceeds the 7 per cent benchmark approved by NERC in the Multi Year Tariff Order (MYTO). Transmission Loss Factor is a technical parameter used in electricity…
Yemisi Izuora Gombe State Governor, Inuwa Yahaya, has approved the appointment of the Chairman and Commissioners of the newly established Gombe State Electricity Regulatory Commission (GOSERC). The appointments, with effect from January 21, 2026, were earlier forwarded to the Gombe State House of Assembly, which has since confirmed them in line with the enabling law establishing the commission. The Secretary to the State Government, Prof. Ibrahim Njodi, said the constitution of the leadership team for GOSERC was in furtherance of the Governor’s commitment to building a robust, transparent and investor-friendly electricity market in the state, in line with the…
Yemisi Izuora Considering volatile geopolitical tensions and energy price instability the World Bank has revised downward Nigeria’s economic growth projection for 2026. In its April 2026 Economic Outlook update, the World Bank adjusted Nigeria’s growth projection to 4.10 per cent for 2026 and 4.20 per cent for 2027, a notable decline from the 4.40 per cent previously forecast for both years. “The bank’s downward adjustment was driven by several combined factors, including the persistent uncertainty in the global economy, particularly following the Middle East conflict,” noted an investment analyst at Meristem Securities Limited. The revision considers intense geopolitical friction…
Joseph Bakare Nigeria’s Capital City Abuja is expected to start receiving gas supply by July through the Ajaokuta–Kaduna–Kano (AKK) gas pipeline. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says this will mark a key milestone for the country’s gas development plans. “We’re hoping that by July, gas will be delivered to Abuja through the AKK gas pipeline,” a spokesperson for the Nigerian Upstream Petroleum Regulatory Commission told the regulator’s in-house magazine. The 614-kilometre (382-mile) pipeline is designed to deliver more than 2.2 billion cubic feet of gas per day and is a core part of Nigeria’s strategy to shift…