Yemisi Izuora Key transformation is underway in Eko Electricity Distribution Company (EKEDC) following Transgrid Enerco Limited acquisition of a 60 per cent controlling interest in the company. The DisCo is expected to transit into a range of new deals that would involve infrastructure projects to achieve quality service delivery. The transaction which is valued at about N360 billion, was initially expected to close by April 2025, and was finalised on December 30, making it one of the largest privately negotiated takeovers in Nigeria’s electricity distribution sector since the 2013 privatisation. West Power & Gas Limited (WPG), the former core investor, had…
Author: orientalnewsng
Uche Cecil Izuora Geometric Power, has experienced full gas supply after recent nationwide gas crisis that caused most Nigerians to celebrate Christmas without light. This fact was made known by the Southeast zone of the Electricity Consumers Association of Nigeria (ECAN). In a statement signed by the Southeastern ECAN chairman, Engr Joe Ubani, and the secretary, Comrade Chris Okpara, the association revealed that the 188MW Geometric Power Plant in the Osisioma Industrial Layout of Aba resumed full operations on Monday following normal natural gas supply from its partner, Heirs Energies Ltd. “We have it on good authority that two of…
Yemisi Izuora Aradel Holdings Plc, an indigenous integrated energy company, says its wholly-owned subsidiary, Aradel Energy Limited, has successfully completed the acquisition of an additional equity interest in ND Western Limited, following the fulfilment of all regulatory and contractual conditions precedent. The transaction, previously announced on 24th October 2025, involved the acquisition of a 40 per cent equity interest in NDW from Petrolin Trading Ltd. With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67 per cent to 81.67 per cen, and NDW has become a subsidiary of Aradel Energy Limited. The acquisition also…
Uche Cecil Izuora Nigeria exported about 33.23 million barrels of crude oil to the United States of America, between January and August 2025. The value of the export is estimated at $2.57 billion to earning the country Africa’s largest exporter of crude oil to the United States. This development underscores growing relevance in the U.S. energy supply chain even as its domestic refining capacity expands and reshapes regional oil flows. Data released by the U.S. Mission show that between January and August 2025, Nigeria shipped 33.23 million barrels of crude oil to the United States, valued at about $2.57 billion,…
By Sola Adebawo The harmattan wind usually carries a certain crispness this time of year in Nigeria, swirling through the streets of towns and villages with a sense of shared anticipation. It is a season where the air feels lighter, thick with the scent of jollof rice, chicken and the warmth of neighborly gestures. Yet, beneath the festive lights, a quiet tension has flickered online: a debate over the simple act of sharing a meal. In recent weeks, voices from the fringes of religious scholarship have attempted to draw lines across the dinner table. Some extremist Islamic clerics have issued…
Ken Okeke Nigerian Government confirmed on Friday that it provided the United States with intelligence on extremists before the Christmas Day strikes by US forces against what President Donald Trump said were ISIS militants in the northwest of the country. The US strikes come after both countries were locked in a diplomatic dispute over what Trump characterized as mass killings of Christians amid the west African country’s myriad armed conflicts. “It’s Nigeria that provided the intelligence,” Nigerian Foreign Minister Yusuf Tuggar told broadcaster ChannelsTV, saying he was on the phone with US State Secretary Marco Rubio. “We spoke twice. We…
Uche Cecil Izuora Nigeria exported about 33.23 million barrels of crude oil to the United States of America, between January and August 2025. The value of the export is estimated at $2.57 billion to earning the country Africa’s largest exporter of crude oil to the United States. This development underscores growing relevance in the U.S. energy supply chain even as its domestic refining capacity expands and reshapes regional oil flows. Data released by the U.S. Mission show that between January and August 2025, Nigeria shipped 33.23 million barrels of crude oil to the United States, valued at about $2.57…
By Prof. Lere Baale For decades, Africa’s pharmaceutical markets have lived in the long shadow of multinational drugmakers. Across Nigeria, Kenya, Ghana, South Africa, and much of Francophone Africa, market leadership, pricing power, hospital procurement preferences, and even perceptions of quality were mainly shaped outside the continent. Indigenous manufacturers existed—but mostly at the margins, constrained by structural rather than capability limitations. Then came a turning point many initially misread as a crisis: the gradual exit or downsizing of global pharmaceutical giants from several African markets. What has unfolded since 2023—and crystallised powerfully in 2024–2025—is not decline, but realignment. At…
Agusto & Co. has assigned a “Bbb-” long-term rating to Universal Insurance Plc, reflecting the company’s long operating history, improved profitability, low loss ratio, moderate liquidity position and effective deployment of digital initiatives. The rating agency noted that Universal Insurance ability to maintain a solvency margin of 184.9 per cent, well above Agusto & Co.’s minimum threshold of 100 per cent, indicates a strong capacity to support its underwriting activities. The strong growth according to Agusto was driven by initiatives aimed at deepening relationships with customers and insurance brokers, alongside improvements in customer experience through digital platforms. It noted that…
Joseph Bakare President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA). To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC…