AfDB Unveils $5.1bn Plan to Cushion Africa from Energy, Fertiliser Shocks The African Development Bank Group has approved a new framework that could provide up to $5.1bn to help African countries cope with the impact of the global energy and fertiliser crisis. The Global Energy and Fertiliser Crisis Response Framework was approved by the…
Diesel Nears N2,000/Litre as Refinery Owners Demand More Crude The Crude Oil Refinery Owners Association of Nigeria has called on the Federal Government to urgently intervene as the price of diesel approaches N2,000 per litre, warning that the development could further increase production costs and worsen food inflation and the cost-of-living crisis. CORAN, in…
MDGIF Denies Gas Flare Penalty Revenue Mismanagement, Blames Variances on Reconciliation The Midstream and Downstream Gas Infrastructure Fund has denied allegations of unaccounted gas flare penalty revenues, saying discrepancies identified in the Auditor-General of the Federation’s 2023/2024 Annual Report were due to timing and reconciliation issues across the Federation Account system. MDGIF, a directorate…
NUPRC Demands Maritime Jobs from Offshore Oil Investments The Nigerian Upstream Petroleum Regulatory Commission has called for deliberate measures to ensure that Nigeria’s growing offshore oil and gas investments generate more maritime jobs, industrial capacity and economic benefits. According to a statement, the Commission’s Chief Executive, Mrs Oritsemeyiwa Eyesan, made the call on Tuesday…
NERC Tightens DisCos’ Revenue Use, Mandates Network Investment The Nigerian Electricity Regulatory Commission (NERC) has issued a revised order directing electricity Distribution Companies (DisCos) to allocate part of their earned Non-Administrative Operating Expenditure (Non-Admin OpEx) to critical network improvement projects. The order, which takes effect from September 4, 2026, is aimed at accelerating…
NNPC Retail Unveils First Smart Self-Service Station in Abuja NNPC Retail Limited has commissioned its first Smart Self-Service Station on Bill Clinton Drive, Abuja, offering customers round-the-clock fuel services alongside electric vehicle charging and other mobility and lifestyle facilities. The station, developed in partnership with the Nigeria Immigration Service (NIS), allows customers to independently…
Nigeria’s Crude Output Falls 5,000bpd to 1.5mbpd in August Nigeria’s crude oil production fell by 5,000 barrels per day in August 2026, according to data submitted directly by the country to the Organisation of the Petroleum Exporting Countries and published in OPEC’s September 2026 Monthly Oil Market Report. OPEC said Nigeria’s crude production…
Petrol Price May Rise Further as Crude Hits $107 Petrol prices in Nigeria may rise further after international crude oil prices surged to $107 per barrel on Thursday, up from about $100 recorded the previous day. The latest rally has increased pressure on domestic petrol prices, which have already risen from about N830…
NNPC Limited Commends NDLEA on Intercepted Truck …Clarifies Truck is Not NNPC Vehicle, Supports Full Investigation The Nigerian National Petroleum Company Limited (NNPC Ltd.) commends the National Drug Law Enforcement Agency (NDLEA) for its vigilance and professionalism in intercepting a truck reportedly found with 2,145kg of cannabis concealed in a compartment in Ondo State. NNPC…
Africa Must Integrate Its Gas Markets to Unlock LNG’s Full Value — IGU Africa Coordinator Accra, Ghana — Africa’s ability to derive lasting economic value from its vast natural gas resources will depend less on the size of its reserves and more on the continent’s capacity to integrate markets, infrastructure, policies and investment, the…