General

NLNG Woos European Investors With Nigeria’s Decade of Gas for Global Energy Security

Published

2 years ago

24/10/2023

By Adedapo Adesanya

The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Mr Philip Mshelbila, has told European investors that the country’s Decade of Gas plan is the most comprehensive plan to restore efforts to fully harness Nigeria’s vast gas resources and ensure a reliable global supply of gas as a clean energy source and a major fuel in the energy transition mix.

He said this during the visit of a delegation from the European Union (EU) in Nigeria to NLNG’s plant on Bonny Island, Rivers State over the weekend. The delegation, led by the EU in Nigeria Commissioner for Energy, Ms Kadri Simson, was received by Mr Mshelbila; Mr Nnamdi Anowi, General Manager, Production; Mr Andy Odeh, General Manager, External Relations and Sustainable Development, and other management staff.

Mr Mshelbila pointed out that there were plans to address the root causes of issues in the gas sector, adding that what is needed to complete the plan is the firm will of all stakeholders and urgent action.

He stated that the remedy to industry challenges lies in a concentrated effort on making the gas sector work as the country has huge potential as the 6th nation with the largest natural gas reserves.

“Our commitment to harnessing the immense potential of natural gas will not only restore Nigeria’s reputation as a major energy powerhouse but also propel us towards a cleaner, greener future. With innovation, collaboration by stakeholders, including the government and investors, especially from Europe, and unwavering determination, we can shape the energy landscape of tomorrow, create more opportunities for gas supply globally, drive economic prosperity, create jobs, and mitigate environmental challenges through gas,” he said.

The NLNG helmsman further highlighted that investment in Nigeria’s gas sector would wield a far-reaching influence on the global gas and LNG supply landscape, ensuring the world has continuous access to reliable and environmentally sound energy throughout the ongoing energy transition.

He stated that the Train 7 project was about 50 per cent complete and would bolster NLNG’s production capacity to 30 million Tonnes Per Annum (MTPA) upon completion.

He added that NLNG is working on a plan to decarbonise and stated that NLNG was also looking to the future for further expansion with more trains, which would act as catalysts for the continued advancement of the gas sector.

On her part, the EU Commissioner for Energy in Nigeria, Ms Kadri Simson, commended NLNG’s business model saying the bloc is accelerating its energy transition, but “We also have a need to reinforce our ties with reliable LNG partners like Nigeria in the short-term horizon. This helps us to bridge part of the gap left by former Russian imports while we gradually transition away from fossil fuels.

“Nigeria has proven to be a reliable partner, and last year, 9.4 bcm of LNG was exported from Nigeria to the EU, but there is potential to do more – in particular between now and 2027,” she stated.

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Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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General

Reps Okay N248.6bn Relief, 10-Year Debt Plan for Ikeja Electric, Two Others

Published

1 hour ago

17/04/2026

Adedapo Adesanya

By Adedapo Adesanya

The House of Representatives, via its Public Accounts Committee, has approved a N248.6 billion financial relief package alongside a 10-year debt restructuring plan for Kano, Jos and Ikeja Electricity Distribution Companies (DisCos).

The decision followed the adoption of a report by a technical subcommittee set up to review findings in the 2021 Auditor-General’s report, which highlighted rising indebtedness among electricity distribution firms.

The approved framework covers N128.57 billion in accrued interest spanning 2015 to September 2025, as well as N120.06 billion in historical debts. This brings the combined liability of the three DisCos to N248,637,089,278.83.

Chairman of the subcommittee, Mr Mark Chidi Obetta, said the intervention is aimed at stabilising Nigeria’s electricity market and addressing legacy financial burdens affecting the sector.

He noted that the measure forms part of broader legislative efforts to restore financial sustainability within the power distribution segment.

Findings from the report indicate that the total debt owed by the country’s 11 DisCos rose from N1 trillion in December 2024 to N1.3 trillion as of September 2025, covering both principal and accrued interest.

According to data from the Nigerian Bulk Electricity Trading Company (NBET), Abuja DisCo owes N275.16 billion, Kaduna DisCo N303.8 billion, and Jos DisCo N104.37 billion. Kano DisCo’s debt stands at N96.62 billion, while Ikeja DisCo owes N47.63 billion.

The committee said its investigation was designed to verify the Auditor-General’s claims, determine the current debt profile of the DisCos, and uncover reasons for persistent defaults in payment obligations.

During the review, Jos, Ikeja and Kano DisCos challenged the imposition of interest charges, arguing that existing Market Rules did not expressly provide for such penalties. This prompted regulatory clarification from the Nigerian Electricity Regulatory Commission (NERC).

In a directive issued in January 2026, NERC instructed NBET not to charge interest on outstanding invoices between 2015 and 2020, but permitted interest charges on debts from 2021 onward.

The regulator also ordered that interest linked to delays associated with Meristem be disregarded, directing NBET to recompute liabilities, including the N128 billion interest attributed to the three DisCos.

As part of the resolution, the committee recommended that the affected DisCos restructure their N120.06 billion historical debts over a period not exceeding 10 years.

It further directed that N13.39 billion in liabilities incurred by Kano DisCo during its period under government receivership be transferred to the Nigerian Electricity Liability Management Company (NELMCO), in line with established sector precedents.

The committee also called on NERC to mandate NBET to waive N128.57 billion in interest accrued between 2015 and September 2025, citing the escrow arrangement under which DisCos do not have direct access to their revenue collections.

Chairman of the Committee, Mr Bamidele Salam, urged all electricity distribution companies to meet their market obligations going forward, warning that failure to implement urgent financial and regulatory reforms could further threaten the sustainability of the sector.

General

Glovo Holds Future of Commerce Summit 2.0 April 22 in Lagos

Published

6 hours ago

17/04/2026

Modupe Gbadeyanka

By Modupe Gbadeyanka

On Wednesday, April 22, 2026, the Future of Commerce Summit 2.0, put together by a leading technology platform, Glovo, will take place at the Landmark Events Centre, Victoria Island, Lagos.

Government stakeholders, policymakers, entrepreneurs, industry leaders, and innovators will gather for the second time to explore emerging trends, opportunities, and challenges shaping the commerce and logistics landscape.

At the inaugural edition last year, participants across Nigeria’s technology, digital, and commerce ecosystems had a meaningful dialogue on the future of commerce and innovation in the country.

A statement from the organisers assured that this year’s programme would be bigger and better as it would spotlight the role of digital platforms in driving economic growth, empowering small and medium-sized businesses (SMBs), and accelerating Nigeria’s digital transformation.

Speaking about the planned summit, the Interim General Manager of Glovo Nigeria, Ms Reni Onafeko, said that the event reflects the company’s commitment to empowering small and medium-sized businesses (SMBs), which are widely regarded as the backbone of Nigeria’s economy, with access to tools, insights, and digital infrastructure.

She explained that Future of Commerce 2.0 will focus on scaling impact across Nigerian cities, leveraging technology to drive inclusive growth and expand access to digital commerce opportunities.

“At Glovo, we are deeply committed to empowering local businesses and creating opportunities for SMBs to thrive in an increasingly digital economy. Nigeria’s commerce ecosystem is evolving rapidly, driven by innovation and a new generation of entrepreneurs.

“The Future of Commerce Summit 2.0 reflects our vision of fostering collaboration and equipping entrepreneurs with the tools and insights needed to scale sustainably.

“Through this platform, we aim to amplify the voices of businesses and drive impactful conversations that will shape the future of commerce in Nigeria,” Ms Onafeko noted.

General

My Administration Will Uphold Tenets of Democracy—Tinubu

Published

9 hours ago

17/04/2026

Aduragbemi Omiyale

President Tinubu renewed hope ambassadors

By Aduragbemi Omiyale

President Bola Tinubu has assured that his government would uphold the tenets of democracy, including the rule of law, the separation of powers and the rights of all citizens.

He gave this assurance on Thursday when he received a delegation of the Renewed Hope Ambassadors led by Governor Hope Uzodimma of Imo State at the State House in Abuja.

He used the occasion to also reaffirm his commitment to building a stable, peaceful, and prosperous nation, assuring that the well-being of Nigerians remains his top priority, stating that the political and economic structures that have long undermined the citizens’ prosperity are being steadily replaced through the realignment of the economy to enable full participation.

“We cannot submit to disobedience of a lawful order of the court; we must embrace the judiciary, whether it favours us or not. We submit to this principle of democracy, separation of powers, and understanding of the dynamics of it, and the nationhood that Nigeria is, that we must build one country. That’s what Renewed Hope is all about. You must give them that hope.

“There’s no other path for us to attain national greatness other than to build one common vision for the progress and prosperity of our people. That is what we must do,’’ Mr Tinubu stated.

The President charged the group to continue sensitising and mobilising citizens, especially at the grassroots, on the government’s efforts to improve their livelihoods through economic reforms.

“You represent the conscience of a nation that wants to break the shackles of poverty and hopelessness,” he disclosed at the event, which also had in attendance Vice President Kashim Shettima and the National Chairman of the ruling All Progressives Congress (APC), Mr Nentawe Goshwe Yilwatda.

Mr Tinubu reiterated that his government is guided by a clear vision to foster inclusive growth, create opportunities for youth, and ensure that every Nigerian—regardless of background or region—has a stake in the country’s future.

He encouraged citizens not to be discouraged by the misinformation championed by the opposition elements in the country, saying the great accomplishments witnessed in modern times were achieved through visionary leadership, assuring that Nigeria is in safe hands.

To the opposition, he said: “They want to scare me off? It’s a lie. I’ve been through this path before. And if I have to come back over and over and over again, I’ll do the same thing.

“There is no better place than your own country. And no one can build it except you. We saw great things, skyscrapers. We wonder how the plane takes off and flies us from one destination to another. There was no magic of yesterday. It is the thinker of tomorrow and the future that can elevate life, that can reform us all.

“And being the transformative leaders that you are, you are in good company. Don’t be afraid. I’ve listened to you. I didn’t have to look back on the economy because the truth is, I took over from myself. The late Buhari was me. He was my partner.

“And if I took over from him. Is that not from me? So, if something is wrong, fine. Live with it, correct it, move on. The life voyage is not going to be easy. I can only stand before you and say you will not regret it. That is why we ask you to renew their hope.

“If they don’t want to see the hope and the roads and bridges, and the children we raise, the economy we are growing, we shall lend them Jigi-Bola, eyeglasses. One thing that you need from me is a promise that I won’t run away from the affair. With you, the deal is done.”

Turning to the Renewed Hope Ambassadors, President Tinubu promised to be their greatest champion, noting that, “We act as one family. You represent a conscience, a nation that wants to break the shackles of poverty, ignorance, and hopelessness. You are in a good company. That’s all I can say. And all I can promise is I won’t give up.”