Business

For stable electricity, should Nigeria invite China to manage Power Sector for 20 years ?

Goje was reacting to the new Minister of Power, Joseph Olasunkanmi Tegbe ‘s comment that he cannot promise Nigerians uninterrupted electricity immediately but pledged to deliver noticeable improvements in the sector within a short period.

Published

6 months ago

May 8, 2026

OCHEFA

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Image: collage of power grid/ Minister of Power, Joseph Tegbe

Senator Muhammed Danjuma Goje thinks so.

Goje was a former minister of state for power and steel between 1999-2001; former governor of Gombe State 2003-2011, and now a senator representing Gombe Central.

He emphasised the need this week during the screening of minister -designates at the National Assembly.

Goje told fellow lawmakers that the federal government had better handover Nigeria’s power sector to China or another advanced country for 20 years to achieve stable electricity.

Addressing lawmakers, the minister-designate said he would rather focus on realistic and measurable progress than make promises he cannot keep.

“If I am confirmed, the Senate President, Distinguished Senators, I will not stand here and say tomorrow I will give you 24-hour electricity.

” But what I will tell you about the very honest approach, I will ensure that visible improvement is seen across the country in the shortest time possible. I will commit that we will replace uncertainties for Nigerians with clarity”,Tegbe said.

Tegbe identified distribution challenges as one of the major issues affecting the power sector, noting that inefficiencies remain across the electricity value chain.

Related Topics:Featured Nigeria's power sector

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.