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Savannah Energy PLC has signed a Share Purchase Agreement (SPA) to acquire a 50.1% interest in Klinchenberg BV from Norfund, the Norwegian investment fund for developing countries, in a deal worth up to US$65.4 million. The agreement, signed on Friday at a ceremony attended by Mr John Humphrey, His Majesty’s Trade Commissioner for Africa, marks ...
Close partnership and collaboration among African oil and gas producing countries are some of the strategies that would enable sustainable development of Africa’s oil industry, according to discussants at the Africa Content Forum, a segment at the 2025 Africa Oil Week holding in Accra, Ghana. The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), ...
Dangote Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) requested it to increase the price of petrol and diesel by N75 per litre, to allow its members to match the refinery’s gantry prices at their respective depots. If implemented, this would result in the pump price of Premium ...
By Olakunle Oke The Dangote Petroleum Refinery has alleged that members of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) are demanding an annual subsidy of N1.505 trillion to enable them to match its gantry price at their depots. According to the refinery, while it supplies petroleum products to marketers at its gantry ...
…Warns against historical subsidy abuses, pledges logistics-free initiative. Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots. The refinery disclosed that although it offers petroleum products to marketers ...
By Olakunle Oke Africa’s richest man, Aliko Dangote, has clarified why it appears like his companies have a monopoly in cement production and crude refining. Responding to criticisms levelled against him abd his companies, Dangote explained that his companies operate in capital intensive sectors which not just anyone can play in. He however called for ...
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engineer Gbenga Komolafe has stated that the latest deals in the petroleum sector are proof that International Oil Companies are not exiting Nigeria but are merely rebalancing their portfolios. Komolafe stated this when representatives of Barclays Bank Plc visited the corporate headquarters of the NUPRC ...
Dr. Chuku Luka Ume, a Nigerian power sector expert, has provided a detailed analysis of the systemic issues plaguing the nation's power grid, leading to recurring collapses that severely disrupt both domestic and commercial life. In a recent interview, he pointed to a combination of factors, including the age and condition of the grid's infrastructure, ...
By Olakunle Oke The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has rejected recent claims by the Dangote Petroleum Refinery, accusing the company of spreading misleading and factually incorrect information that undermines Nigeria’s deregulated downstream oil sector. In a statement on Wednesday, DAPPMAN described Dangote’s allegations as distortions aimed at discrediting marketers and ...
…Warns against false monopoly claims in deregulated sector …Calls for balance between labour rights and national interest Former Senate Leader, Senator Ali Ndume, has warned labour unions and petroleum marketers to stop what he described as a deliberate campaign of hostility against the Dangote Refinery, urging them instead to embrace dialogue in the interest of ...
By Olakunle Oke Algeria, Libya, and Nigeria have retained their positions as Africa’s leading oil and gas exploration and producing nations, according to the September 2025 Monthly Oil Market Report (MOMR) released by the Organization of Petroleum Exporting Countries (OPEC). The report revealed that in August 2025, Algeria recorded the highest rig count on the ...
By Olakunle oke Former Vice President Atiku Abubakar has cautioned the Federal government against amending the Petroleum Industry Act (PIA). The former Vice President made this known in a post on his social media on Monday. Speaking, Atiku also cautioned against plans to divest major equity stakes in joint ventures within Nigeria’s oil and gas ...
By Olakunle Oke Tensions are escalating in Nigeria's petroleum sector as Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) trade accusations over fuel quality, pricing, and alleged economic sabotage. In a fiery press statement, Dangote Industries Limited vehemently denied DAPPMAN’s claims, accusing the association of resisting local refining to protect ...
Minister of State Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, has declared that Nigeria can revolutionise rail transport on the continent leveraging natural gas. Delivering an address at the International Railway Conference 2025, organised by the Federal Ministry of Transportation in collaboration with De-Sadel Nigeria Limited, held in Abuja, Ekpo underscored the transformative potential of Nigeria's vast ...
By Olakunle Oke Nigeria's crude oil exports plummeted by N3.18 trillion in the first half of 2025, sparking fresh concerns about the country's reliance on oil as a primary revenue source. This significant drop is largely attributed to the increased domestic refining capacity of the Dangote Refinery, which has reduced the amount of crude available ...
…Says project created jobs, not displacement …Insists industrialisation, not importation, will grow Africa’s economy President/Chief Executive of Dangote Petroleum Refinery, Alhaji Aliko Dangote, on Monday declared that the refinery has ended Nigeria’s five-decade struggle with fuel queues. Speaking at a conference to mark the first anniversary of the launch of petrol production from the 650,000 ...
By Tapre Timine, Yenagoa Nigeria and Angola have formalized a landmark partnership, forging a "twinning arrangement" between Nigeria's Bayelsa State and Angola’s Namibe Province. Recall that, a similar cooperation deal was also struck between Nasarawa State and Angola’s Bengo Province. The agreements were signed last week during the fifth session of the Nigeria–Angola Bilateral Joint ...
..named OGTAN Government partner of the yesr The Nigerian Content Development and Monitoring Board (NCDMB) has hinted at the introduction of two new programmes aimed at bridging skill gaps and enhancing human capacity in Nigeria's pil and gas industry. NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe who was represented by the General Manager, Human Capital Development, ...
By Olakunle oke At the just concluded Intra-African Trade Fair (IATF2025), Nigeria has inked a $500m deal for its Midstream and Downstream Gas Infrastructure Fund (MDGIF). The landmark agreement was formalised on the sidelines of the fourth Intra-African Trade Fair (IATF2025) by Mrs. Helen Brume, Director and Global Head of Project and Asset-Based Finance at Afreximbank, and Mr. ...
…Says refinery contributes only 30–35% of demand The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has pushed back against claims that Nigeria’s downstream petroleum sector depends solely on the Dangote Refinery, stressing that its members continue to play a central role in sustaining nationwide fuel supply. This was contained in a statement signed ...
…Insists Nigeria can manufacture own meters, transformers The Federal Government has pledged that Nigerians will soon enjoy uninterrupted electricity supply across the country. Minister of Power, Mr Adebayo Adelabu, gave the assurance in Abuja on Friday during the inauguration of two training workshop blocks and a 104-room hostel at the National Power Training Institute of ...
…pegs new price at ₦820 The Dangote Petroleum Refinery has announced it will begin the direct supply of Premium Motor Spirit (PMS), also known as petrol, to marketers across Nigeria, effective Monday, September 15, 2025. This is despite the tussle between the Dangote Refinery and the National Union of Petroleum and Natural Gas Workers (NUPENG). ...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) is making a strong pitch to international investors at the 2025 Gastech Exhibition & Conference taking place in Milan, Italy. During an interview on NBC, NNPC Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, called on global financiers and industry leaders to seize the extensive opportunities available ...
