Nigeria’s Oil Revenues Slide: Budgetary Pressures Mount Amid Fiscal Volatility While Dangote looks to scale up industrial output, Nigeria’s federal coffers are grappling with a different reality — a sharp 22 percent decline in oil revenues for the fourth quarter of 2024, a setback that has deepened fiscal pressure on Africa’s largest economy. According to…
Dangote’s Refinery Moves Toward Public Listing: Africa’s Energy Titan Opens Its Doors Africa’s wealthiest businessman, Aliko Dangote, has announced his intention to list up to 10 percent of the Dangote Petroleum Refinery on the Nigerian Exchange (NGX) within the next year — a move widely interpreted as a strategic milestone in the evolution of one…
Nigeria’s Leadership Celebrated at GECF as NMDPRA Boss Commends Ekpo and Mshelbila Nigeria’s influence within the global gas community received a major boost this week following the announcement of Rt. Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), as the President of the 2026 GECF Ministerial Meeting, and Dr. Philip Mshelbila, Managing Director…
Savannah Energy Reports Robust Financial Growth, NIPCO Joins as Strategic Investor In a major show of strength in Africa’s upstream and midstream energy markets, Savannah Energy PLC, a British independent energy company with significant operations in Nigeria and East Africa, has announced a strong financial and operational performance for the nine months ended September 30,…
Dangote Group Refutes Truck Ownership in Akungba-Akoko Accident, Warns Against Misinformation The Dangote Group, one of Africa’s most diversified conglomerates, has issued a firm rebuttal of reports circulating across social media and some online platforms linking it to a tragic truck accident in Akungba-Akoko, located in the Akoko South-West Local Government Area of Ondo State….
NUPENG Mourns Niger Tanker Explosion Victims, Calls for Urgent Road Rehabilitation Minna, Niger State — The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has expressed profound grief over the tragic tanker explosion that occurred on Tuesday along the Bida–Agaie Road in Niger State, claiming at least 35 lives and injuring 17 others. The…
NNPCL Posts ₦216bn Profit, Advances Pipeline Projects to Near Completion Abuja, Nigeria — The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of ₦216 billion for September 2025, driven by total revenue of ₦4.26 trillion, according to its latest monthly performance report. The company disclosed that crude oil and condensate production…
Nigeria to Seek Higher OPEC Quota as Crude Output Nears Two Million Barrels — Lokpobiri Abuja, Nigeria — Nigeria is set to push for a higher crude oil production quota at the forthcoming Organisation of Petroleum Exporting Countries (OPEC) meeting in November, as the nation’s output edges closer to two million barrels per day. Minister…
Tetracore Energy Group Strengthens Leadership Board to Drive Africa’s Energy Transformation Tetracore Energy Group, a leading integrated midstream and downstream energy company, has announced the appointment of three distinguished professionals — Oscar N. Onyema, OON; Aisha Balewa Abubakar; and Dr. Ayodele Oni — to its Board of Directors, in a move designed to bolster its…
IFC, AfDB Launch $1bn Zafiri Investment Platform to Power Africa’s Off-Grid Energy Transformation In a bold move to close Africa’s off-grid energy financing gap, the International Finance Corporation (IFC), the African Development Bank Group (AfDB), and partner institutions have jointly appointed Inspired Evolution as investment manager for Zafiri, a new $1 billion decentralized renewable energy…
