Oil & Energy
Power Supply: Minister Urges Industrialists Not To Downsize

The Minister of Power,
Works and Housing Mr Babatunde Fashola, has urged entrepreneurs and industrialists not to panic or consider downsizing as an option over the current power supply challenges as the situation would soon be over.
Fashola gave the advice at the 13th Electrical and Electronics Engineers Annual Lecture held on Thursday in Lagos.
Assuring them that the country would overcome the challenge of poor power as it had overcome other critical national challenges, the minister stated that the Federal Government had put a road map in place to ensure steady power supply in the country.
He noted that the present administration inherited a privatised power sector where majority shares were sold to private companies in 2013 when government unbundled the Power Holding company of Nigeria (PHCN).
He explained further that the generation and distribution processes were sold to private companies while government retained only the transmission aspect of power which it managed through the Transmission Company of Nigeria (TCN).
At the forum which was well attended by industrialists, entrepreneurs, directors and other employers of labour, the minister said, there was no need to layoff their workers, shutdown operations, downsize or even panic over the unsteady power supply as the new road map designed by the federal government would bring the desired turn around.
The minister described the power sector which the present administration inherited as one in which the role of the government was reduced only to policy and regulation.
The Tide reports that the assurance of the minister was coming at a period when power supply was at its lowest ebb with the Port Harcourt Electricity Distribution Company (PHED) complaining of having no power to distribute except from the embedded plant source.
Owing to this challenging situation, PHED, according to the Manager, Corporate Communications, Mr Jonas Ihoma said PHED is concentrating on supplies to strategic customers while most residential customers’ supply is being rationed.
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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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