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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed it has secured more than $400 million in pre-sale decommissioning and abandonment liabilities, as part of tighter regulations governing recent asset transfers in the oil and gas sector. The initiative is designed to avert the financial and environmental risks that have burdened other countries in the ...
By Olakunle Oke Day Two of Gastech 2025, the world’s largest energy exhibition and conference, showcased global collaboration and technological breakthroughs as essential to strengthening energy security, affordability, and sustainability. Wednesday’s sessions drew senior policymakers and industry executives, who stressed the importance of cross-border cooperation and digital innovation to address rising demand while advancing decarbonisation ...
By Olakunle Oke In the Niger Delta, oil is both a blessing and a curse. Beneath the mangrove swamps lie the reserves that drive Nigeria’s economy, yet for many residents, crude has come to mean poisoned water, ruined livelihoods, and mounting health crises. Oil theft and pipeline sabotage have long plagued the industry, but experts ...
By Denis Mathew The National Union of Petroleum and Natural Gas Workers (NUPENG) has warned the Federal Government against deploying security forces indiscriminately against its members, as tensions with the Dangote Group deepen. This warning follows less than 24 hours after the union suspended a nationwide strike, based on what it now describes as a ...
Oilserv Nigeria Ltd., has called on International Oil Companies (IOCs) operating across Africa to fully leverage the opportunities available within the continent, especially in the Engineering, Procurement, and Construction (EPC) sector. The Group Chief Executive Officer of Oilserv Group, Mr Emeka Okwuosa, made this statement on Thursday at the ongoing Intra-African Trade Fair (IATF 2025) ...
Nigeria Liquefied Natural Gas Limited (NLNG) has highlighted the transformative role of Artificial Intelligence (AI) in enhancing operational efficiency, safety, and productivity across its vast gas infrastructure. Mr Olakunle Osobu, Deputy Managing Director, NLNG, disclosed this while addressing a global audience of more than 50,000 participants from 150 countries in a panel session at the ...
The National Agency for Science and Engineering Infrastructure (NASENI) has joined forces with the Nigerians in Diaspora Commission (NiDCOM) to tap into the skills of Nigerians abroad and drive national technological and economic development. The partnership seeks to connect local innovators with Nigerian scientists, engineers, technologists, and entrepreneurs in the diaspora, creating opportunities for collaboration ...
By Olakunle Oke Nigeria was thrown into darkness on Wednesday after the national power grid failed at about 11:23 a.m., disrupting supply across the country. The Abuja Electricity Distribution Company (AEDC) confirmed the collapse, reporting that power generation plummeted from 2,917 megawatts to barely 1.5 megawatts. Millions of households and businesses were cut off, grappling ...
By Olakunle Oke The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) on Tuesday called off its two-day strike after the Dangote Group consented to unionise its drivers. NUPENG President, Williams Akporeha, confirmed the breakthrough, stating that an agreement was reached at a meeting facilitated by the Department of State Services (DSS). He revealed ...
The Nigerian Independent System Operator (NISO) says it will conduct a full investigation into the immediate and underlying causes of the system disturbance that affected the national grid on Wednesday. The incident occurred at approximately 11:20 a.m., leading to widespread disruptions in power supply across the country. In a statement issued in Abuja, Mr Abdu ...
Nigeria’s electricity grid collapsed on Wednesday. This has triggered a nationwide blackout in what marks the first system failure of 2025. Official data from the Independent System Operator showed power generation crashing from 2,917.83 megawatts to barely 1.5 megawatts between 11 a.m. and noon. The Abuja Electricity Distribution Company confirmed the collapse in a public ...
The Federal Government has called on the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the management of the Dangote Group to pursue a peaceful resolution to their ongoing industrial dispute. The government stressed that resolving the matter is essential to safeguarding national peace and economic stability. The appeal was made on Monday ...
Nigeria is preparing for a fresh wave of economic and political debate following the government’s plan to introduce a 5 per cent fuel surcharge under the Nigeria Tax Administration Act, 2025. The measure, signed into law by President Bola Tinubu in June, will apply to refined petroleum products including petrol and diesel once it is ...
By Olakunle Oke Nigeria’s oil and gas sector, once the crown jewel of Africa and the cornerstone of national wealth, is confronting one of its most testing periods in decades. From the 1956 Oloibiri discovery that launched the industry to the billion-dollar windfalls of the 1970s oil boom, crude petroleum has long dictated the pace ...
Nigeria’s electricity industry is sinking deeper into financial distress, with projections showing that the Federal Government’s liabilities could climb to N6.2 trillion by the end of 2025. The worsening situation is being driven by the exodus of premium customers from the national grid. The government is already burdened with a N4 trillion legacy debt owed ...
By Seun Ibiyemi The Nigerian Ports Authority (NPA) has issued warning letters to four terminal operators at the Apapa Port Complex over environmental pollution within the facility. The disclosure was made on Tuesday in Lagos by the Port’s Complex Manager, Mr. Debo Lawal, who described port management as both challenging and rewarding, requiring constant operational, ...
… As PTD Passes Vote of No Confidence on NUPENG Leaders The Association of Distributors and Transporters of Petroleum Products (ADITOP) has accused the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) of extortion and excessive levies collection within the downstream sector. This accusation came on the heels of a vote of no confidence ...
The Federal Government has no immediate plans to implement the five per cent fuel surcharge contained in the newly signed Tax Administration Act 2025. Mr Wale Edun, the Minister of Finance and Coordinating Minister of the economy, said this at a news conference in Abuja on Tuesday He said that the surcharge was a long-standing ...
By Barth Ndubuwah, Port Harcourt The suspended industrial action by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has left Rivers State residents counting their losses, following days of severe fuel scarcity. Almost all filling stations in the state shut their doors ...
The Lagos Zone of the Petroleum Tanker Drivers (PTD), a branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has passed a vote of no confidence on the union’s leadership. The action, taken against NUPENG’s National President, Comrade (Prince) Williams Akporeha, and General Secretary, Comrade Afolabi Olawale, followed accusations of greed, impunity, ...
Crude oil prices face renewed downward pressure as OPEC+ moves to ramp up production, pushing more barrels into a market already weighed down by sluggish demand. Industry leaders at the Asia Pacific Petroleum Conference (APPEC) on Tuesday cautioned that the combination of rising supply and mounting global economic headwinds signals a bleak outlook for the ...
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPCL) has unveiled plans to attract $60 billion in fresh investments over the next five to seven years to scale up gas infrastructure and reinforce the country’s position in the global energy market. Group Chief Executive Officer of NNPCL, Mr. Bayo Ojulari, disclosed this while addressing ...
