General
Investors Jostle for $24.9bn Power Projects in Nigeria
By Adedapo Adesanya
Investors will jostle for four power projects worth $24.9 billion spread in key cities of the nation following a proposal by the Federal Government of Nigeria.
The proposal on Nigeria National Petroleum Corporation Energy Infrastructure Opportunities presented by the Nigerian National Petroleum Corporation (NNPC) to the United States Commercial Service listed the locations of the projects as Abuja, Kaduna, and Kano.
In addition, the Ogidingbe Gas Industrial Park Projects was also part of those investments opportunities in gas-powered plants and gas-based industries listed.
Other facilities include the 1350 megawatts (MW) Abuja Thermal Power plant project worth $1.7 billion, Kaduna 900 MW thermal power plant project worth $1.3 billion, 135 MW Kano thermal plant project worth $1.9 billion.
The $20 billion Ogidingbe Gas Industrial Park Projects which contains 2.4 billion cubic feet Central Processing Facility, 2.6 Million Tonnes Per Annum Fertilizer plants (MTPA), 1.3 MTPA Polyethylene and 400,000 Tonnes Per Annum Polypropylene/Xylene plants, and a 450 MW Thermal Power plant project, FTZ base Infrastructure 400,000 TPA Polypropylene/Xylene plants (Jetties and intra-park roads) were also listed.
According to the document, the projects are in line with President Buhari’s decade of gas agenda which seeks to make Nigeria, a global force in the gas sector. According to data, Nigeria has over 202 trillion cubic feet of natural gas reserve.
Speaking on the initiative, Mr Timipre Sylva, the Minister of State Petroleum Resources said “Nigeria welcomes foreign investors to invest in the oil and gas industry. In deepening domestic gas utilization and monetization of our huge gas resources, the year 2020 is declared as the Year of Gas.”
On his part, Mr Mele Kyari, the Group Managing Director of the NNPC, said the strategic objective is “re-focusing NNPC into an integrated energy company driven by Global Excellence.”
The NNPC is the largest asset holder across the Nigerian oil and gas industry value chain with over four decades of operating expertise and through its joint ventures contract welcomes other players into the country.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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