Uche Cecil Izuora The Head of Africa Fuels & Refining at S&P Global, Stanislas Drochon, has said that Africa has a growing opportunity to attract energy investment and strengthen long-term economic resilience as geopolitical tensions reshape global capital flows. Speaking to CNBC Africa, at Nigeria Oil and Gas Energy Week 2026 in Abuja, Drochon said recent supply shocks and market disruptions have underscored a central lesson for policymakers and investors alike: energy security is increasingly inseparable from national security. His comments come at a time when governments across Africa are seeking to balance export ambitions with domestic refining, storage…
Author: Orientalnews Staff
Uche Cecil Izuora Energy expert Adeo Adifou, and a partner at Ounjiri and Adefulu, has observed that Nigeria has moved from long gaps between oil bid rounds to a more predictable sequence that has included the 2022 and 2023 mini-bid rounds, the 2024 licensing round, the 2025 round and now the prospective 2026 exercise. The field auction sustenance he said is capable of delivering volumes to meet the country’s target production. Nigeria is ramping up preparations for its 2026 oil and gas licensing round, with authorities aiming for full acquisition of the assets on offer in what would mark…
Uche Cecil Izuora The Nigeria Liquefied Natural Gas Limited (NLNG) has expressed concerns about projections which has indicated that by 2030, Nigeria could face a gas supply deficit despite its enormous reserves, stressing that the gap should be viewed as an opportunity rather than a constraint. To reduce the impact of that scenario on the economy, the Company suggests for broader strategy to commercialize stranded gas resources, develop interconnected infrastructure and full implementation of incentives under the Petroleum Industry Act (PIA). The General Manager, Commercial, NLNG, Mr. Timothy Fakrogha, gave the suggestion during a panel session at the Nigeria…
Uche Cecil Izuora Nigeria is inching towards expanding Liquified Natural Gas (LNG) infrastructure as UTM Offshore said it is aiming to take a final investment decision in September. This project is expected to become Nigeria’s first Floating Liquified Natural Gas (FLNG) project that will mark a key step for a development the company says could unlock stranded offshore gas, curb flaring and strengthen domestic fuel supply. Speaking to CNBC Africa on the sidelines of Nigeria Oil and Gas Week in Abuja, UTM Offshore Group Managing Director Julius Rone said the project now has financing in place, giving it the…
Uche Cecil Izuora The African Energy Chamber (AEC) has called for interconnected electricity market for Africa to enable the continent achieve its industrial potentials. The Chamber sees constant grid systems struggle to keep pace with rapidly expanding supply pipelines and rising demand as big challenge to sustain investment opportunities. According to reports Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Commenting on the current situation, NJ Ayuk, Executive Chairman of the African Energy Chamber said, “Interconnected…
Uche Cecil Izuora Significant recovery of oil demand is pacing up with consumption set to rise on seasonal trends and as pent-up demand is released in line with a rebound in product supplies. The IEA in its latest report states that annual contractions ease from 4.8 million barrels a day (mb/d) in 2Q26 to 1.7 mb/d in 3Q26, followed by a rise of 1.2 mb/d in 4Q26, for an overall decline of 1 mb/d this year. Forecast growth of 2 mb/d in 2027 results in a two-year pace of expansion well below historical trends. According to the report, global…
Joseph Bakare The Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, on Thursday, July 9, 2026 arraigned a former staff of a new generation bank, Chinonso Akujobi, for an alleged N294,595,992 theft before Justice I.O. Ijelu of the State High Court sitting in Ikeja, Lagos. Chinonso is being prosecuted on a five-count charge bordering on stealing to the tune of N294.5m. One of the charges reads:”That you, Chinonso Akujobi, sometime between January and December, 2025, in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, and while under the employment of Access…
Joseph Bakare The trial of former Minister of Aviation, Hadi Sirika, took a dramatic turn on Wednesday, July 8, 2026 as Justice S.C. Oriji of the Federal Capital Territory, FCT, High Court in Abuja listened to a recording of the conversation between the former minister who is standing trial before it and the Permanent Secretary in the ministry, Enitan Abel. The prosecution witness (PW12) , Assistant Commander of the EFCC, ACE II Christopher Odofin, an investigator with the Economic and Financial Crimes Commission, EFCC, led by defence counsel, Rotimi Jacobs SAN, confirmed to the court that the voice in…
Agency Report A long flight delay, a last-minute cancellation, denied boarding, or lost baggage can leave travelers facing significant financial losses. While many parts of the world have strengthened passenger protections over the past two decades, Africa still offers uneven legal safeguards, making compensation far harder to obtain. In Europe, passengers are entitled in many cases to compensation of up to €600 for flight disruptions under EU Regulation 261/2004. Claims involving lost, delayed, or damaged baggage are covered separately under the Montreal Convention, which also provides compensation for baggage-related losses. Passenger rights remain uneven across Africa In Africa, securing compensation…
Yemisi Izuora Despite Federal The Nigerian Insurers Association (NIA) has extended its heartfelt sympathy to individuals, families, and businesses affected by the recent flooding across several parts of Lagos State following the persistent heavy rainfall experienced in recent days. The Association in a statement signed by its Chairman, Mrs. Ebelechukwu Nwachukwu, on Thursday in Lagos acknowledges the emotional, social, and financial hardship occasioned by the flooding and stands in solidarity with all those who have suffered the loss of lives, homes, vehicles, businesses, and other valuable assets. While emphasising the importance of proper environmental sanitation, responsible waste disposal,…