Oil & Energy
Power Firm Laments High Rate Of Vandalism
Authorities of the Ibadan
Electricity Distribution Company (IBEDC), have cried out over frequent rate of vandalization of facilities saying the situation had caused the company huge financial losses.
The company’s Managing Director, Mr Fortunato Leynes told newsmen in Ibadan recently that vandalisation of IBEDC’s power installations was largely responsible for poor supply in the area and appealed to community leaders to initiate a task force to tackle the menace.
Leynes, who was addressing participants at a consumer forum also recalled that aggrieved youths burnt down power transformer in Ibadan during the 2012 national fuel hike protest.
According to him, the action of the youth, which was a transfer of aggression cost the company over N150 million to rehabilitate the facility.
At the forum organized by the company to seek ideas from customers on how to improve services through mutual understanding, Leynes also decried attitudes of some consumers, which according to him had contributed to power problems. He noted that some consumers engaged in illegal connection, diversion of wires and other unacceptable practices.
The company, he said, is not unaware of the menace of tampering with meters, diversion of wires from the meters and running of same through the ceilings, all effective bypassing their electric meters.
He appealed to customers to embrace stopgap metering programmes like Credited Advanced Payment for Meeting Implementation (CAPMI), which he described as a scheme that enables customers to make advanced payment for meters.
“The cost of the meters and its accessories shall be paid with interest for a period of not more than 36 months via rebates in the energy credit purchased by the customer,” he explained.
Outrageous bills, uneven power shedding and inadequate prepaid meters were the common complaints by customers at the meeting which featured traditional rulers, community leaders, security agencies, and youths.
Oil & Energy
Take Concrete Action To Boost Oil Production, FG Tells IOCs
Speaking at the close of a panel session at the just concluded 2026 Nigerian International Energy Summit, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the government had created an enabling environment for oil companies to operate effectively.
Lokpobiri stressed that the performance of the petroleum industry is fundamentally tied to the success of upstream operators, noting that the Nigerian economy remains largely dependent on foreign exchange earnings from the sector.
According to him, “I have always maintained that the success of the oil and gas industry is largely dependent on the success of the upstream. From upstream to midstream and downstream, everything is connected. If we do not produce crude oil, there will be nothing to refine and nothing to distribute. Therefore, the success of the petroleum sector begins with the success of the upstream.
“I am also happy with the team I have had the privilege to work with, a community of committed professionals. From the government’s standpoint, it is important to state clearly that there is no discrimination between indigenous producers and other operators.
“You are all companies operating in the same Nigerian space, under the same law. The Petroleum Industry Act (PIA) does not differentiate between local and foreign companies. While you may operate at different scales, you are governed by the same regulations. Our expectation, therefore, is that we will continue to work together, collaborate, and strengthen the upstream sector for the benefit of all Nigerians.”
The minister pledged the federal government’s continued efforts to sustain its support for the industry through reforms, tax incentives and regulatory adjustments aimed at unlocking the sector’s full potential.
“We have provided extensive incentives to unlock the sector’s potential through reforms, tax reliefs and regulatory changes. The question now is: what will you do in return? The government has given a lot.
Now is the time for industry players to reciprocate by investing, producing and delivering results,” he said.
Lokpobiri added that Nigeria’s success in the upstream sector would have positive spillover effects across Africa, while failure would negatively impact the continent’s midstream and downstream segments.
“We have talked enough. This is the time to take concrete actions that will deliver measurable results and transform this industry,” he stated.
It would be noted that Nigeria’s daily average oil production stood at about 1.6 million barrels per day in 2025, a significant shortfall from the budget benchmark of 2.06 million barrels per day.
Oil & Energy
Host Comm.Development: NUPRC Commits To Enforce PIA 2021
Oil & Energy
PETROAN Cautions On Risks Of P’Harcourt Refinery Shutdown
The energy expert further warned that repeated public admissions of incompetence by NNPC leadership risk eroding investor confidence, weakening Nigeria’s energy security framework, and undermining years of policy efforts aimed at domestic refining, price stability, and job creation.
He described as most worrisome the assertion that there is no urgency to restart the Port Harcourt Refinery because the Dangote Refinery is currently meeting Nigeria’s petroleum needs.
“Such a statement is annoying, unacceptable, and indicative of leadership that is not solution-centric,” he said.
The PETROAN National PRO reiterated that Nigeria cannot continue to normalise waste, institutional failure, and retrospective justification of poor decisions stressing that admitting failure is only meaningful when followed by accountability, reforms, and a clear, credible plan to prevent recurrence.
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