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Energy
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said Tenaris Global Services Nigeria Ltd has completed the coating campaign for the Bonga North deepwater project, describing the development as evidence of sustained private investment in Nigeria's petroleum industry. Lokpobiri made the disclosure while highlighting the company's 25 years of operations in Nigeria, ...
Energy
The Federal Government and the Lagos State Government have set up a joint technical committee to work towards delivering 24-hour electricity to the Lagos corridor under the Federal Government’s 24/7 Energy Zones pilot programme. The committee was constituted after a meeting between the Minister of Power, Joseph Tegbe, and Lagos State Governor, Babajide Sanwo-Olu, at ...
News
The University of Lagos (UNILAG) has commence a compressed natural gas (CNG) transport scheme across its campus today with fares fixed at ₦150 per trip. The initiative, developed in partnership with the Presidential Compressed Natural Gas Initiative (Pi-CNG), will involve the conversion of existing campus shuttle buses to CNG-powered vehicles and the deployment of newly ...
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Energy
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has said its portfolio of gas infrastructure projects is positioned to add 25.2 per cent to Nigeria’s national domestic gas supply baseline. The fund disclosed this in an update on its activities, stating that its portfolio currently comprises 31 projects and 205 infrastructure assets aimed at expanding ...
Energy
The Anambra State Government is considering the establishment of a modular refinery as part of plans to expand gas processing and Liquefied Petroleum Gas (LPG) production in the state. Charles Ofoegbu, Commissioner for Petroleum and Mineral Resources, disclosed this in Awka while receiving members of the Anambra State chapter of the National Association of LPG ...
Crime
The Nigerian Navy has uncovered an illegal refinery with a capacity of about 40,000 litres in Bonny Island, Rivers State, before it commenced full-scale crude oil processing. The facility was discovered during a joint operation involving the Nigerian Navy and the Federal Government’s inter-agency task force on petroleum theft. Speaking to journalists in Bonny on ...
Energy
The Nigerian National Petroleum Company (NNPC) Limited has committed more than 186,000 barrels of crude oil per day from future production to meet obligations under crude-backed financing arrangements, highlighting the amount of future oil revenue already tied to existing commitments. The disclosure is contained in NNPC’s 2025 audited financial statements, which show that the company ...
Energy
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to ensure the productive restart of Nigeria’s state-owned refineries by January, ahead of the upcoming election period. Reacting to President Bola Ahmed Tinubu’s Independence Day address, PETROAN emphasized that returning the refineries to full operation is essential for strengthening domestic ...
Energy
President Bola Tinubu has ruled out a return to the fuel subsidy regime, saying Nigeria must stay the course with the reforms introduced by his administration while shifting attention to using the country’s energy resources to drive production and reduce the cost of living. The President made this known in his Independence Day address to ...
Energy
Aliko Dangote has promised to establish a training school in Lamu, Kenya, to train 1,000 local people for jobs linked to the $16 billion Dangote East Africa Petroleum Refinery and Petrochemicals project. Dangote, President of Dangote Industries Limited, made the commitment on Wednesday at the groundbreaking ceremony of the project, saying the initiative would help ...
Energy
The Federal Government has disclosed that indigenous oil and gas operators now account for more than 50 percent of Nigeria’s crude oil production following major divestment transactions by international oil companies. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, disclosed this on Wednesday at the maiden Petroleum Technology Development Fund (PTDF) Journal ...
News
The Federal Ministry of Housing and Urban Development has revealed that its shift to a paperless working system is saving more than ₦400 million annually on stationery while reducing the time required to process official files. The Permanent Secretary of the Ministry, Dr. Shuaib Belgore, disclosed this on Wednesday in Abuja at an event marking ...
Energy
African Industrialist, Alhaji Aliko Dangote has urged residents of Lamu, Kenya, not to rush into selling their land as the $16 billion Dangote East Africa Petroleum Refinery and Petrochemicals project takes off. Dangote, President of Dangote Industries Limited, gave the advice on Wednesday at the groundbreaking ceremony of the refinery project. Speaking, Dangote recalled how ...
News
Africa must move beyond exporting raw materials and build industries that process its resources locally, President of Dangote Industries Limited, Aliko Dangote, has said as construction begins on the $16 billion Dangote East Africa Petroleum Refinery and Petrochemicals project in Lamu, Kenya. Dangote made the declaration on Wednesday at the groundbreaking ceremony of the refinery, ...
Energy
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified 22 major offshore projects that could drive fresh investment into Nigeria’s oil and gas industry as the country enters a new cycle of upstream development. The projects comprise 12 deepwater and 10 shallow-water developments, including Bonga Southwest, Aparo, Zaba Zaba, Owowo, Bosi and Egina South. The ...
Energy
The Major Energies Marketers Association of Nigeria (MEMAN) has called for greater predictability in petroleum product pricing and transparency as Nigeria’s refining capacity expands. The MEMAN Chairman, Huub Stokman, made this known while speaking on a panel at the Nigeria Oil Refining Summit (NORS) 2026 in Lagos. Speaking, Stokman noted that refiners and marketers need ...
Money market
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a 33 per cent increase in profit after tax to ₦7.2 trillion in 2025, even as revenue fell 24 per cent amid lower crude oil prices and reduced white product volumes. In a statement signed by Chief Corporate Communications Officer, NNPC Ltd, Andy Odeh in Abuja ...
Energy
A member of the Board of Trustees and Vice Chairman, Crude Oil Refiners Association of Nigeria (CORAN) and Executive Director, Ikwe-Onna Refinery Ltd, Duchess Oludolapo Okulaja-Kotun has declared that insurance protection is key to financing petroleum infrastructure. Speaking on a panel during the ongoing CORAN conference in Lagos, the oil expert said insurance and risk ...
Energy
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) is exploring a structured product offtake arrangement with Azikel Refinery in Bayelsa State as part of efforts to strengthen access to locally refined petroleum products. The association disclosed this on Tuesday after a delegation led by its National President, Dr Billy Gillis-Harry visited the refinery ...
Energy
Nigeria must improve crude supply to local refineries if its growing refining capacity is to develop into a sustainable industry, Chief Economist at Dangote Industries Limited, Dr Hassan Mahmood, has said. Mahmood, who represented the President of Dangote Refinery, Alhaji Aliko Dangote, at the Nigeria Oil Refining Summit (NORS 2026) in Lagos, said building refineries ...
