Oil & Energy
PHCN Urges Customers To Pay Debts
Power Holding Company of Nigeria (PHCN), Ikeja Business Unit has appealed to customers under the unit that are owing the company N3.4 billion as at October 2012, to pay before the Yuletide season ended.
The Business Manager of the Unit, Mr. Lanre Olaleye, said this during the PHCN/Customers Consultative Council meeting held in Lagos recently.
He said, “As I speak, it is most disturbing that the Business Unit is being owed a total sum of N3, 399,508,377.84. May I state here with all emphasis that those who fail to settle their outstanding electricity bill will not be allowed to use our electricity for these seasons and even beyond”.
Olaleye expressed appreciation to the Nigerian Army and the Police for the improvement in the payment of their bills, saying the situation could still be better.
He said the management of the Ikeja Electricity Distribution Company had put in place a fantastic programme of incentive tagged, “PAY ALL the outstanding on your Bill and get a prepaid Meter installed instantly”, while also urging all customers to key into the promo for the festive period.
He attributed the inadequacy of electricity supply in the unit to the increasing wave of vandalism, which the unit had been facing in recent times.
He added, “it is most disturbing and alarming to inform you that within the past six months, the business unit has witnessed the vandalism of light transformers substations during which cables and other valuable materials were carted away.
“The names of the vandalized substations are Ladipo Bateye 11 (13/06/12); Oba Akinjobi (24/06/12), Adekunle Fajuyi (23/08/12); Ladipo Bateye 11 (31/08/12); 300KVA substations.
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Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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