The Chief Executive Officer of Ghana’s Chamber of Bulk Oil Distributors (CBOD), Patrick Kwaku Ofori, has warned that the government’s diesel subsidy is unsustainable and could come at the expense of investment in the country’s energy infrastructure.
The government announced the removal of some regulatory margins on petroleum products as part of measures to cushion motorists from rising pump prices following the escalation of the conflict in the Middle East.
The subsidy was introduced in April, with consumers currently receiving a subsidy of 2 Ghanaian cedis per litre of diesel.
Speaking on Accra-based TV3, Ofori said the subsidies were affecting the ability of state agencies to expand and invest in modern refining facilities.
He said funds spent on the diesel subsidy during the period under review could instead have been used to procure more than 200 buses for busy routes, including Accra-Kasoa, Mamponteng, Pankrono and Kejetia, while subsidised fuel supplied through GOIL could have been used to support vulnerable consumers.
“For how long will you continue? It’s going to be tighter as it continues at the expense of infrastructure that will help move products through the BRV system to all parts of the country,” he said.
Ofori said government entities such as the Bulk Oil Storage and Transportation Company (BOST) may not be able to publicly raise concerns about the policy, but warned that its effects could eventually be seen in fuel quality if marketers and quality assurance providers were not paid promptly for their services.
He also questioned how the government was financing the subsidy and whether it intended to borrow against the balance sheets of state-owned entities to sustain BOST and other state agencies.
Ghana Grid Company Limited (GRIDCo) has completed the construction and final integration of a 4-km, 161-kV transmission line connecting a solar project in Yendi in northern Ghana to the Tamale-Yendi transmission network, the company said.
Yendi is home to Bui Power Authority’s 50-megawatt solar farm, which is expected to be commissioned soon.
GRIDCo said the project was executed entirely by its technical teams, making it the longest transmission line project it has completed in-house to date.
The work included tower erection, line stringing, testing, commissioning and energisation of the line.
GRIDCo’s teams also integrated a 66-MVA transformer into the transmission system as part of the project, drawing on expertise from several technical units.
The company said the project demonstrated its technical capacity and would strengthen the national grid’s ability to integrate renewable energy.
The Yendi solar transmission link will connect the project to Ghana’s transmission network and support the expansion of renewable power generation.
Nigeria’s Minister of Power, Joseph Olasunkanmi Tegbe, has sought the intervention of the Economic and Financial Crimes Commission (EFCC) to help tackle the growing problem of vandalism and energy theft in the power sector.
Tegbe made the request on Tuesday when he led a delegation from the ministry on a courtesy visit to the EFCC’s headquarters in Abuja.
Vandalism and energy theft are taking a heavy toll on the power sector and resulting in the loss of billions of naira annually, Tegbe said.
He said the ministry lacked the statutory powers to prosecute offenders involved in vandalism and energy theft, making collaboration with the EFCC necessary to address the problem.
“We sought the EFCC’s immediate support in prosecuting power infrastructure vandalism and persistent energy theft offenders, including the recovery of outstanding revenue,” Tegbe said in a post on Facebook.
The meeting also discussed the possible use of some recovered funds from relevant contractor cases to address metering needs for the military, subject to the necessary approvals and processes, he said.
Tegbe said the two sides had agreed to establish an EFCC-Ministry of Power Technical Working Group, alongside stronger fraud controls and monitoring of power-sector projects.
He also thanked the EFCC for its continued support, including its intervention in resolving contractor-related issues concerning the Kudenda Power Plant in Kaduna State.
EFCC Chairman Ola Olukoyede described vandalism and energy theft as forms of revenue fraud and economic sabotage.
He said the commission had recorded more than 1 trillion naira in cash recoveries, more than 10,000 convictions and the recovery of more than 10,000 non-cash assets over the past 34 months.
Olukoyede pledged to work with the ministry to conduct fraud-risk assessments and strengthen controls on all its projects.
Libya’s National Oil Corporation (NOC) on Tuesday condemned the illegal closure of the main Al-Hamada-Al-Zawiyah oil pipeline by a group of guards, saying the action had halted production and operations at several oil fields.
The closure caused a sudden increase in pressure on production lines at the Al-Tahara field, resulting in a complete halt to production and operations at the Al-Hamada (NC8) and Al-Tahara (NC4) fields, as well as the NC5 station, the NOC said in a statement.
The corporation said the closure had caused significant damage to oilfield operations and could further deepen the crisis facing Libya’s oil sector amid the repercussions of the global energy crisis.
The NOC also rejected threats to shut the field north of Al-Hamada operated by Nafusa Oil Company, as well as any other fields or wells, over strikes or other demands.
It urged those behind the closures to use legal channels to pursue their demands and called on state authorities to take action to resolve the crisis.
The NOC said it could declare force majeure if the pipeline valve remained closed or if other fields were subjected to forced shutdowns.
“The closure of oil fields and the halt of production operations at this sensitive timing, which is witnessing a rise in crude oil prices, is a severe blow to the national economy,” the NOC said.
The corporation appealed to members of the oil facilities security apparatus involved in the protests to exercise restraint and pursue their demands through legal means.
The NOC warned that prolonged disruptions to oil production could damage Libya’s reputation as a reliable global energy supplier and threaten the government’s ability to pay public-sector salaries, with oil revenues serving as the country’s main source of state income.
Saudi Aramco has canceled or delayed crude deliveries to European refiners after the shutdown of the kingdom’s East-West pipeline cut into one of its remaining routes around the Strait of Hormuz.
At least three European refiners have had late-September cargoes canceled or pushed as far out as November, according to market sources cited by Argus.
Two more expect notices covering September supplies.
The 7-million-bpd East-West pipeline has been offline since a September 10 attack.
The pipeline carries crude from eastern Saudi oil fields to the Red Sea port of Yanbu, bypassing Hormuz.
One market source told Argus that every Saudi cargo scheduled for the final 10 days of September could be at risk.
The same source estimated that Yanbu had roughly five days of crude inventories remaining.
Argus could not independently confirm that estimate, and Aramco declined to comment.
In August, Bloomberg had reported that Aramco would supply full contractual crude volumes to at least three European refiners for September.
But no Saudi crude has departed Yanbu since September 11, according to Vortexa data cited by Argus.
Saudi exports from Egypt’s Sidi Kerir terminal averaged about 1.95 million bpd during the first two weeks of September. Arrivals at Ain Sukhna averaged 1.40 million bpd.
Crude exported through Yanbu can move to Egypt’s Ain Sukhna terminal and across the 2.5-million-bpd SUMED pipeline to Sidi Kerir on the Mediterranean.
Poland’s Orlen is already buying replacements.
Orlen purchased North Sea grades including Grane, Johan Sverdrup and Johan Castberg through spot tenders and sought offers for U.S. WTI Midland and Kazakhstan’s CPC Blend, traders told Reuters.
At least four September tanker fixtures from Sidi Kerir to Gdansk have failed.
Aramco supplies roughly 40% of the crude processed by Orlen, which operates refineries in Poland, Lithuania and the Czech Republic.
Orlen said its refineries continue receiving feedstock.
The East-West line had become one of Saudi Arabia’s most important alternatives to constrained Persian Gulf exports. Its shutdown is now reaching European term customers in the form of missing barrels.
South African integrated energy company Sasol and Antarctic expedition operator White Desert on Tuesday announced a sustainable aviation fuel (SAF) partnership, marking a step towards the development of lower-carbon fuels for aviation in South Africa.
The agreement, announced at the Africa Green Hydrogen Summit, will see Sasol supply its first commercial volumes of SAF to White Desert for its Cape Town-to-Antarctica expeditions.
The partnership brings together Sasol’s technical expertise and White Desert’s aviation fuel demand as the companies seek to develop lower-carbon solutions for aviation, they said.
The agreement follows the recent ISCC+ sustainability certification of Natref, Sasol’s refinery in South Africa, which the company said would support the production and supply of sustainable fuels.
Sasol and White Desert leaders at the launch of a landmark Sustainable Aviation Fuel partnership.
Dr Sarushen Pillay, Sasol’s executive vice president for business building, strategy and technology, said the partnership demonstrated South Africa’s ability to develop commercial applications for lower-carbon fuels.
“Through our partnership with White Desert, we are demonstrating how sustainable fuels can move from ambition to commercial reality,” Pillay said.
The SAF supplied under the agreement is produced from sustainable bio-feedstocks and could provide a pathway towards future e-fuels produced using green hydrogen, Sasol said.
The company said such value chains could create industrial opportunities while supporting energy security, competitiveness and efforts to reduce carbon emissions.
White Desert, which operates luxury Antarctic expeditions from Cape Town, will use the SAF for flights between South Africa and Antarctica.
“It is incredible to now be able to source sustainable fuel in South Africa, made locally and with real carbon emission reductions. We are excited to be using this for our flights to Antarctica and being at the forefront of getting to net zero,” Patrick Woodhead, chief executive and founder of White Desert.
Speaking about Sasol’s broader SAF strategy, Pillay said the transition to lower-carbon aviation fuels would require the conversion of existing industrial infrastructure.
“We do not decarbonise aviation by abandoning existing industrial assets, but by transforming them. South Africa has the fuels infrastructure, technical capability and export relationships needed to participate meaningfully in this market,” he said.
“Bio-SAF is the first proof point of that conversion, and a bridge to the e-fuels economy that follows.”
“This is an exciting milestone for South Africa, for aviation and for the future of sustainable fuels,” Pillay said.
Kenya Power is nearing completion of two projects that will connect Lodwar, the commercial hub of Turkana County in northern Kenya, to the national electricity grid, the company said.
The projects comprise a 66/11kV substation in Lodwar and a 90-km (56-mile) 66kV transmission line between Lokichar and Lodwar. They are funded by the Kenyan government at a combined cost of KSh1.01 billion ($7.8 million).
Once completed, the projects are expected to provide more stable and reliable electricity to more than 80,000 residents in Lodwar and surrounding areas, Kenya Power said.
“This is one of those projects which we hold very dear to us,” Kenya Power Managing Director and Chief Executive Joseph Siror said in a statement.
Residents of Lodwar and its environs currently rely on diesel-powered generators operated by Kenya Power. The company spends about KSh900 million a year running the generators, which have struggled to meet demand, particularly during periods of high temperatures, resulting in breakdowns and power rationing, it said.
“Connecting this town to the grid means that the residents here will enjoy stable and reliable electricity to power their livelihoods,” Siror said.
The grid connection is also expected to reduce the use of diesel generators and associated emissions.
“The cost of extending the power line from Lokichar to Lodwar is almost the same as what we are currently using to fuel the generators in a year,” Siror said.
“Once these projects are complete, we are looking at a situation where what we are saving just in terms of diesel costs for a year is equivalent to the cost of building the line and the substation.”
Kenya Power said the grid connection could support growth in livestock trade, tourism, agribusiness and mining, while creating employment opportunities in the county.
It is also expected to improve access to electricity for schools, healthcare facilities, businesses and information and communications technology hubs. Reliable power could help hospitals and clinics maintain vaccines and other temperature-sensitive medical supplies, the company said.
Brazilian state-run oil company Petrobras has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement with Sempra Infrastructure, a U.S. energy infrastructure company and subsidiary of Sempra (NYSE: SRE).
Under the agreement, Petrobras will purchase 0.8 million metric tons per annum (mtpa) of LNG from the Port Arthur LNG liquefaction terminal in Texas.
Securing long-term LNG volumes will help Petrobras reduce its exposure to spot-market price volatility, strengthen risk management of its natural gas portfolio and improve its ability to meet contractual commitments with greater flexibility and supply security, the company said.
The Port Arthur LNG terminal, which Sempra Infrastructure is currently building on the Texas Gulf Coast, will have access to U.S. natural gas resources and integrated logistics infrastructure.
Sempra Infrastructure develops, builds, operates and invests in energy infrastructure, including LNG projects, energy networks and low-carbon solutions.
Fuel prices are projected to rise further at the pump during the second pricing window beginning Sept. 16, the Chamber of Oil Marketing Companies (COMAC) said, citing higher crude oil and refined-product prices, renewed tensions in the Middle East and depreciation of the local currency.
In its price outlook, a copy of which was seen by Energy News Africa, COMAC projected that petrol prices could rise by between 7.75% and 9.63%, diesel by 4.26% to 6.97%, and liquefied petroleum gas (LPG) by 0.85% to 3.22%.
The projected increases are based on the price floors for petrol, diesel and LPG for the second pricing window of September.
According to industry data seen by Energy News Africa, the petrol price floor for the second pricing window has been increased to GH¢16 per litre, while the diesel floor has risen to GH¢16.77 per litre.
The minimum price for LPG has also been increased to GH¢10.97 per kilogramme.
The petrol price floor increased by GH¢1.47 per litre, from GH¢14.53 to GH¢16, while the diesel floor rose by GH¢1.17, from GH¢15.60 to GH¢16.77.
The LPG floor price recorded a marginal increase of GH¢0.12 per kilogramme, from GH¢10.85 to GH¢10.97.
For the second pricing window, average crude oil prices rose by 12.29% to $104.01 per barrel, crossing the $100-per-barrel mark for the first time since May.
COMAC attributed the increase to attacks on vessels in the Gulf and tightening supply following Saudi Arabia’s closure of a major crude oil pipeline.
“The increase was driven by vessel attacks in the Gulf and tightening of supply following Saudi Arabia’s closure of a major crude oil pipeline,” COMAC said in its pricing outlook.
“The East-West pipeline closure has put about 4 million barrels at risk, pushing crude prices higher amid renewed U.S.-Iran tensions, Houthi advances and attacks on Saudi Arabia,” it said.
The local currency depreciated by 1.01% to GH¢11.4849 to the U.S. dollar between August 27 and September 11, according to COMAC.
Petrol prices rose from $1,126 per metric tonne to $1,275 per metric tonne, while diesel prices increased to $1,418 per metric tonne from $1,319.11 per metric tonne.
LPG prices also increased, rising from $616 per metric tonne to $717.59 per metric tonne.
During the first pricing window, the average price of petrol was GH¢15.67 per litre, while diesel and LPG averaged GH¢17.27 per litre and GH¢16.64 per kilogramme, respectively.
Nigeria’s federal government has rejected calls by former Vice President Atiku Abubakar to restore a petrol subsidy removed in 2023, warning that its reinstatement would undermine reforms in the petroleum sector.
The presidency, in a statement by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, said restoring the subsidy would create legal and fiscal complications and could discourage investment in domestic refining, including the Dangote Refinery and other modular refineries.
Atiku, who is seeking to become president in Nigeria’s 2027 general election, has promised to restore the petrol subsidy if elected.
Atiku said his proposal was not a return to the opaque subsidy regime of the past, but a controlled mechanism to support Nigerian refineries while ensuring that the benefits of cheaper crude feedstock were passed on to consumers.
The presidency, however, criticised the proposal as retrogressive and fiscally unsustainable, describing it as a product of “desperation to win the presidency”.
“Nigeria’s petroleum landscape had changed fundamentally since President Bola Tinubu announced the removal of petrol subsidy,” the statement said.
Nigeria generated 15.8 trillion naira ($10.9 billion) from the removal of the petrol subsidy between June 2023 and December 2025, according to Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele.
Of that amount, 5.4 trillion naira accrued to the federal government, while 10.4 trillion naira was shared among state and local governments, Oyedele said.
The presidency said Atiku’s proposal demonstrated what it described as his “high level of ignorance” of governance and economics.
Tinubu announced the removal of the petrol subsidy on May 29, 2023, shortly after taking office.
The decision sent petrol prices from below 200 naira per litre to more than 1,000 naira, increasing transportation, food and other living costs.
Gastech 2026 opened in Bangkok on Monday, bringing together energy ministers, policymakers, company executives and investors to discuss energy security, affordability and reliability amid rising global demand.
More than 50,000 people, 800 exhibitors and more than 800 speakers are expected to attend the event, which organisers describe as the largest annual gathering for the natural gas and liquefied natural gas (LNG) industry.
Held under the theme “Where Global Supply Meets Demand”, the event is focused on investment, infrastructure and partnerships across the energy sector.
Thailand’s Prime Minister Anutin Charnvirakul, opening the conference, called for closer cooperation and increased investment in energy projects as Asia’s economies expand.
“The world today is facing challenges of extraordinary complexity. Geopolitical tensions are reshaping energy trade while economies are seeking greater resilience,” Anutin said.
“At this defining moment, energy is not simply a commodity, energy is critical, enabling nations to grow, innovate, and improve the quality of life. This is why we must pursue an energy future that balances three essential priorities: energy security, affordability, and sustainability.”
Thailand’s Energy Minister Akanat Promphan said the country was seeking to meet rising power demand while improving the competitiveness and security of its energy system.
“As we look ahead, building energy security while making progress on the energy transition is not just a destination, it is a journey that will require technology, innovation, investment, and cooperation to move forward together,” Akanat said.
The opening addresses preceded the launch of the conference’s Strategic Conference, which brought together ministers from Nigeria, Oman, Singapore and Timor-Leste, as well as policymakers and representatives of international energy institutions.
The first ministerial panel, titled “The Energy Reset: Who Controls Power in the New Global Order?” examined changes in global energy markets and the pressures facing governments as demand for energy grows.
Oman’s Energy and Minerals Minister Salim bin Nasser Al Aufi said greater exploration, investment and cooperation were needed to meet demand, while geopolitical tensions remained a major obstacle to the movement of energy supplies.
“We need more energy, we need more exploration, more collaboration. But in my honest opinion, we need more understanding of each other, and we need more peace to allow us to do what we are good at,” Al Aufi said.
“The issue now is the last part: getting it out to the consumers who need it most.”
Former British Prime Minister Tony Blair told delegates that energy security was increasingly linked to national security and economic growth, particularly as countries sought to expand artificial intelligence infrastructure.
“Energy security is a vital part of every country’s independence and overall security, and we need to have diverse energy supplies for industry and for AI,” Blair said.
“When you look at energy policy today, it is right up there with defence in terms of how you think about security in the broader sense and economic prosperity for the future.”
Executives from companies including PTT, PETRONAS, INPEX, Woodside Energy, YPF, NNPC, Shell, ExxonMobil, Chevron, JERA, Venture Global, Baker Hughes and Trafigura also took part in leadership sessions focused on investment, infrastructure and energy supply.
Tengku Muhammad Taufik, president and group chief executive of PETRONAS, said Asian policymakers were taking a pragmatic approach to energy policy as they sought to balance economic growth with energy security and the transition to lower-carbon sources.
“The theme of Gastech 2026 – Where Global Energy Supply Meets Demand – could not have been more appropriate because that is what Asia needs,” Taufik said.
“What we like about working with our partners in Asia is that policymakers have been pragmatic, they have not forced a fuel idealism or ideology-driven policy that compels people to respond in unrealistic ways.”
Gastech 2026 also launched programmes covering electrification, energy regulation, low-carbon solutions and hydrogen, as well as a Japan Energy Programme focused on the country’s LNG strategy and its impact on regional markets.
AixEnergy, a new event held alongside Gastech, is examining the relationship between artificial intelligence and energy, including the growing electricity requirements of data centres.
The exhibition features major international energy companies and Thai firms including EGAT, PTT and Gulf, with Chevron, ExxonMobil and Shell serving as co-hosts.
Organisers said Gastech 2025 generated a record $60 billion in deals. They expect this year’s event to facilitate further investment and commercial agreements across the global energy sector.
Christopher Hudson, president of event organiser dmg events, said greater cooperation would be needed to meet rising global energy demand.
“No single nation, no single company, no single technology alone can deliver energy at the scale this moment demands. It takes partnership. It takes collaboration. It takes technology. That is why Gastech exists,” Hudson said.
Gastech 2026 runs in Bangkok this week, with discussions expected to focus on rising electricity demand, artificial intelligence, LNG, natural gas, electrification and the energy transition.
India has approved an emergency plan to export up to 654 megawatts of electricity to neighbouring Nepal to help ease shortages caused by extensive damage to hydropower infrastructure in recent floods.
India’s Ministry of Power said in a statement on Monday that up to 654 megawatts would be supplied for 18 hours a day through Dec. 31.
“The approval will help Nepal meet its power requirements during this difficult period and further strengthen the close and longstanding energy cooperation between India and Nepal,” the ministry said, according to Al Jazeera.
The ministry said it would review in December the amount of electricity to be exported from January.
The floods, triggered on Aug. 26 by a glacial mountain collapse on the China-Nepal border, killed more than 1,400 people in Nepal and Tibet, according to Al Jazeera.
At least 12 hydropower projects in Nepal were damaged, while more than 5,500 people remained missing in the country, including at least 900 power station workers, Al Jazeera reported.
Almost all of Nepal’s electricity needs were met by hydropower before the floods, but the damage has forced the country to import electricity after years of exporting surplus power to India.
Thousands of displaced people are sheltering in aid centres, with many unlikely to return home soon.
The United Nations and its partners have appealed for nearly $50 million to support survivors.
Nepali officials estimate that at least $5 billion will be needed for initial reconstruction, saying the disaster highlights the vulnerability of poorer countries to climate change despite their relatively small contribution to global emissions.
The Himalayas, where Nepal is located, are approaching a tipping point as glaciers melt faster than they did a decade ago, threatening water security as the region approaches “peak water” by mid-century, according to a study released this month.
Syrians took to the streets in several cities to protest sharp increases in fuel prices, with demonstrators blocking a main highway for several hours, according to Al Jazeera.
The protests followed the government’s decision on Sunday to raise fuel prices by up to 40% for diesel and 28% for petrol, which it said were temporary increases prompted by a sharp rise in the global cost of securing fuel.
The government also cited an overhaul of the country’s Baniyas refinery as a factor behind the price increases.
The refinery’s capacity is expected to rise from 80,000 barrels per day to 130,000 barrels per day following the upgrade.
Al Jazeera reported protests in Hama, Khan Sheikhoun and Maarat al-Numan.
Video footage seen by Energy News Africa showed crowds gathering in the streets and burning tyres.
The price increases have also sparked heated debate on social media.
Syria is currently producing about 102,000 barrels of oil per day, while domestic consumption stands at about 325,000 barrels per day, leaving the country dependent on imports to meet the shortfall, Energy Minister Mohammed al-Bashir said on Saturday.
The Ministry of Energy said it would continue to review fuel prices in response to changes in global market conditions and would work over the longer term to expand refining and storage capacity, according to state news agency SANA.
Fuel supplies are critical to Syria’s economic recovery as the country seeks to rebuild after 14 years of war.
The Dangote refinery, Africa’s largest oil refinery, on Monday launched its initial public offering (IPO) on the Nigerian Exchange (NGX) in Lagos, offering 4.1 billion ordinary shares at 525 naira each.
The offer will close on Oct. 13, with a minimum subscription of 10 shares at 5,250 naira, according to the IPO terms.
If fully subscribed, the offer is expected to raise 2.15 trillion naira ($1.622billion) to support the refinery’s expansion, according to the terms.
The IPO is open to retail and institutional investors, as well as eligible African investors.
Speaking at the launch, Aliko Dangote, founder of Dangote Refinery, described the offering as the “People’s IPO”, saying it would give members of the public an opportunity to participate in ownership of the refinery.
“We fully share all our prosperity with the people. That’s why we call this ‘People’s IPO’. We know the journey has actually just started. It’s not only about the refinery,” Dangote said.
Dangote said the Dangote Group’s market capitalisation should reach at least $350 billion by 2030, based on a price-to-earnings ratio of 10 times.
“We, as a group, will list every single company that will operate. I don’t know about the others, but I know our own market cap, even at a 10 times P/E ratio by 2030, should not be less than $350 billion,” he said.
Dangote said the conglomerate had raised more funds than it needed to execute its projects, with about $46 billion allocated for group-wide expansion under its 2030 plan.
“The Dangote Group has raised more than we need to execute all our projects. We have about $46 billion allocated for group-wide expansion to achieve our 2030 vision, and we remain on track,” he said.
He also said the refinery could seek a listing outside Africa within the next three to four years.
“From this exchange, then we can go to any other place,” Dangote said, adding that the Nigerian capital market would serve as the group’s base for future listings elsewhere.
The company said the project demonstrated its technical capacity and would strengthen the national grid’s ability to integrate renewable energy.
The Yendi solar transmission link will connect the project to Ghana’s transmission network and support the expansion of renewable power generation.
The meeting also discussed the possible use of some recovered funds from relevant contractor cases to address metering needs for the military, subject to the necessary approvals and processes, he said.
Tegbe said the two sides had agreed to establish an EFCC-Ministry of Power Technical Working Group, alongside stronger fraud controls and monitoring of power-sector projects.
He also thanked the EFCC for its continued support, including its intervention in resolving contractor-related issues concerning the Kudenda Power Plant in Kaduna State.
EFCC Chairman Ola Olukoyede described vandalism and energy theft as forms of revenue fraud and economic sabotage.
He said the commission had recorded more than 1 trillion naira in cash recoveries, more than 10,000 convictions and the recovery of more than 10,000 non-cash assets over the past 34 months.
Olukoyede pledged to work with the ministry to conduct fraud-risk assessments and strengthen controls on all its projects. 
