Nigeria’s electricity supply crisis has worsened following a decline in power generation caused by inadequate natural gas supplies to thermal power stations and reduced water inflows into hydroelectric reservoirs. The Nigerian Independent System Operator (NISO) disclosed this on Thursday, November 5, attributing the recent decline in electricity generation to constraints affecting the country’s two major...
Day: November 6, 2026
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Oando Cuts Oil Production Costs by 22% as Output Rises 14% in Nigeria
Nigerian indigenous energy company, Oando Plc, has reported a 22 per cent reduction in its oil production operating costs, alongside a 14 per cent increase in average daily production during the first nine months of 2026. According to the company’s unaudited financial results for the nine months ending September 2026, production costs declined to $15.39...