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Energy
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that it lacks the authority to determine the pump price of petrol, moving to clear the air following the recent increase in Premium Motor Spirit (PMS) prices. The Authority explained that the Petroleum Industry Act 2021 dictates that wholesale and retail prices of petroleum ...
Politics
The All Progressives Congress Presidential Campaign Council (APC-PCC) has challenged former Vice President Atiku Abubakar to explain the legal, fiscal and operational basis of his proposal to introduce a production subsidy for locally refined petrol. The council said Atiku must explain how the proposed intervention would operate within the Petroleum Industry Act (PIA) 2021 and ...
Foreign
US President Donald Trump has announced an agreement with Denmark and Greenland that he said gives the United States permanent control over security and other security-related needs on the Arctic territory. Trump announced the agreement in a statement on Friday, saying the arrangement would give the US the ability to take whatever measures it considers ...
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Energy
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to restart the Port Harcourt and Warri refineries amid rising petroleum product prices. PETROAN’s National Public Relations Officer, Dr Joseph Obele, made the call in a statement on Thursday, saying the ...
Politics
Former Vice President Atiku Abubakar has challenged President Bola Tinubu to take steps to reverse his policy on the removal of subsidy and cut petrol prices. The former Vice President who addressed a press conference in Abuja on Friday argued that the removal of subsidy and other economic reforms have increased the burden on Nigerian ...
News
The Emir of Kano, Muhammadu Sanusi II, has challenged critics of the Dangote Petroleum Refinery to raise $22 billion and build a competing refinery, arguing that the facility cannot be described as a monopoly simply because of its scale. Sanusi spoke on Thursday at the Dangote Refinery’s “People’s IPO” roadshow in Kano, where he also ...
News
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has discarded its previous draft report on disputed oil and gas wells and ordered a fresh verification of well coordinates from 2017 to date. RMAFC Chairman, Dr Mohammed Bello Shehu, disclosed this on Wednesday while inaugurating a reconstituted Inter-Agency Technical Committee (IATC) to undertake the verification. Speaking, ...
Energy
Nigeria LNG Limited (NLNG) has said methane reduction measures are being built into the design of its $10 billion Train 7 project as the company moves to raise its liquefied natural gas production capacity from 22 million tonnes per annum (mtpa) to 30mtpa. The Managing Director and Chief Executive Officer of NLNG, Adeleye Falade, disclosed ...
News
The Nigeria Labour Congress (NLC) has called on the Federal Government to increase the supply of crude oil to domestic refineries in naira as petrol prices rise to about ₦1,430 per litre in some major cities. The demand was contained in a statement issued on Wednesday by NLC President, Joe Ajaero. The NLC called for ...
News
The Nigerian Content Development and Monitoring Board (NCDMB) has urged Nigerians to cultivate the habit of reading widely and thinking critically, saying human-capital development must go beyond technical and professional skills. The Executive Secretary of the Board, Felix Omatsola Ogbe, stated this at the fifth edition of the NCDMB Book Reading Programme held at the ...
Thriving Women
For Halima Aliko-Dangote, the journey into one of Africa’s biggest business empires did not begin with a family title. It began with a professional career outside the Dangote Group, followed by years of moving through some of its most demanding businesses and commercial functions. Today, she occupies a role that is significantly different from the ...
Energy
President of Dangote Industries Limited, Aliko Dangote, has said petrol is still being smuggled from Nigeria into neighbouring countries despite the recent increase in the domestic price of the product. Dangote said the price difference between Nigeria and neighbouring countries continues to make cross-border smuggling profitable. He spoke in an interview with Arise News on ...
Energy
The Nigerian Independent System Operator (NISO) has commenced the second phase of its capacity development programme for system operators as part of efforts to strengthen the safe and reliable operation of Nigeria’s national electricity grid. The programme is focused on improving the technical competence and operational readiness of personnel responsible for managing the grid in ...
Money market
...as food inflation moderates to 19.57% Nigeria’s headline inflation rate eased marginally to 15.39 per cent in August 2026 from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS). The NBS disclosed this in its Consumer Price Index (CPI) report for August 2026 released on Tuesday. The latest figure represents a 0.04 percentage point decline from the July inflation rate and a significant drop from ...
Capital Market
The Securities and Exchange Commission (SEC) has warned investors to be wary of fraudulent platforms and unauthorised agents seeking to collect applications or funds for the Dangote Petroleum Refinery IPO. The warning came on Monday as subscription opened for the refinery’s public offer, which is expected to attract significant interest from retail and institutional investors. ...
Energy
Bonny and Forcados terminals accounted for a combined average production of more than 637,000 barrels per day in August, emerging as Nigeria’s two largest producing streams during the month, according to the latest review by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Bonny Terminal recorded the highest average production at 320,040 barrels per day, while ...
Energy
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has set a target to raise Nigeria’s national gas production to 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030 as it pushes to position the country as a global gas hub. NNPC’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, disclosed this on Monday at the 2026 Gas Technology & ...
Money market
The Dangote Petroleum Refinery on Monday has opened its ₦2.15trillion initial public offering (IPO), in what is being positioned as the largest share sale in Africa and one of the biggest capital market transactions in Nigeria. The offer, which opened at the Nigerian Exchange (NGX), involves 4.1 billion new ordinary shares of Dangote Petroleum Refinery ...
Money market
President of Dangote Industries Limited, Alhaji Aliko Dangote has revealed that the Dangote Refinery is evidence that African companies can deliver projects that global scale. The African richest man made this known during the 2026 Africa-Diaspora Leadership Programme (ADLP), held in Lagos, where a select group of young global leaders, trailblazers and emerging change-makers gathered to ...
News
Abia State Governor, Alex Otti has revealed that the state has secured approvals for about ₦1.24 trillion in private capital investments, with power and energy among the sectors targeted by the investments. Governor Alex Otti disclosed this on Thursday in Lagos at the Nigerian-British Chamber of Commerce (NBCC) Meet the Governor Series. Otti said the ...
