Category: Business

Business

Regulatory vacuum threatens A’Ibom’s maritime economy

More than 6,208 maritime service companies operating along Akwa Ibom’s coastline are reportedly functioning without a centralised state regulatory framework, raising fresh concerns over the absence of a dedicated Ministry of Blue Economy.
Stakeholders in the maritime and energy sectors said the lack of such a ministry is undermining effective governance of one of the state’s most strategic economic assets, despite Akwa Ibom’s vast coastal advantage and expanding maritime investments.

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EMR Akwa Ibom set for inauguration

The Energy and Maritime Reporters of Nigeria (EMR), Akwa Ibom State Branch, had its maiden meeting, pledging to promote transparency, sustainable development, and stronger stakeholder engagement in Nigeria’s energy and maritime sectors.

At the meeting on Saturday morning, 16 May 2026, moderated by the National Chairman, Comrade Martins Giadom, members reaffirmed their commitment to professional, investigative, and solution-driven journalism aimed at deepening public understanding of issues in the oil, gas, energy, and maritime industries.

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Niger Delta groups demand cleanup before divestment

Environmental and civil society groups have accused oil companies of abandoning decades of pollution in the Niger Delta as multinational firms divest from onshore operations without adequately addressing environmental damage.
Ahead of the fifth Niger Delta Alternatives Convergence (NDAC) scheduled for 14 May in Uyo, Akwa Ibom State, the Health of Mother Earth Foundation (HOMEF) said nearly 70 years of oil and gas extraction had left the region with devastated ecosystems, polluted rivers, destroyed farmlands and contaminated drinking water.

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Tegbe outlines five-point power reform plan

Power Minister-designate Joseph Tegbe told the Senate that fixing Nigeria’s electricity crisis will require coordinated reforms across gas supply, grid stability, distribution, metering and financial discipline, not an unrealistic three-month promise to end grid collapses.
Appearing before the Senate on 6 May following his nomination by President Bola Tinubu as Minister of Power, Tegbe said there was no quick fix to the country’s deep-rooted electricity challenges, but assured Nigerians that visible improvements could begin within the shortest possible time.

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Fresh OML 29 spill sparks outrage in Nembe

Communities in Okpoama and Ikensi in Brass and Nembe Local Government Areas of Bayelsa State have raised fresh concerns over an underwater crude oil pipeline leak at Oil Mining Lease (OML) 29, warning of worsening environmental pollution and threats to livelihoods.
Residents reportedly discovered the leak near Ikensi community at about 6:45am on Thursday after crude oil was seen discharging into surrounding waterways.

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N’Delta stakeholders decry gas flaring, oil spills

The concerns were raised during a summit in Ntak Inyang, Esit Eket Local Government Area of Akwa Ibom State, as Nigeria joined the global community to mark the 2026 World Earth Day.

Participants lamented that decades of oil exploration activities by indigenous and international oil companies have led to widespread environmental degradation, severely affecting livelihoods and public health. They linked persistent gas pollution and oil spills to rising cases of cancer, blindness and other airborne diseases in host communities.

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Bayelsa power plant not yet ready, Diri admits

Governor Douye Diri of Bayelsa State has said the 60-megawatt independent power project inaugurated on 10 April by President Bola Tinubu is not yet complete and still requires “finishing touches.”

The governor’s clarification follows disappointment among residents of Yenagoa and its environs, who had expected immediate improvement in electricity supply after the plant’s inauguration.

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Attah: Renewables to complement, not displace oil

The Managing Director of Renaissance Africa Energy Limited, Mr Tony Attah (an engineer) has said renewable energy does not threaten the oil and gas sector but will instead complement it by offering consumers more options.

Speaking on Friday at the second Nigerian Content Academy virtual forum on the oil and gas sector, Attah maintained that while renewable energy would remain part of the global energy mix, it could not replace fossil fuels.

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Akeddei residents anticipate power relief as solar grid nears completion

Residents of Akeddei community in Bayelsa State have expressed excitement as the “All On” solar hybrid mini-grid project nears completion.

The project, funded by a $532,828 grant from impact investing firm All On and implemented by renewable energy company Darway Coast Limited, is expected to improve livelihoods, boost economic activity and enhance essential services in the riverine community.

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