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5 ECOWAS nations launch management authority for proposed $16bn Abidjan — Lagos highway project
Five member-states of the Economic Community of West African States (ECOWAS), including Nigeria, Côte d’Ivoire, Ghana, Togo, and Benin Republic, have formally launched the Abidjan–Lagos Corridor Management Authority, a regional body established to oversee the development and operation of the proposed…
Nigeria discovers 3 mineral deposits in Kaduna
Federal Government has announced the discovery of a major polymetallic mineral province in Kaduna State containing valuable resources including platinum group metals, gold, nickel, copper, lithium and rare earth elements. Minister of Solid Minerals Development, Dele Alake, disclosed the development, Wednesday,…
NMDPRA grants Q3 2026 import licenses to bridge supply gaps
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved another round of import permits for petrol and diesel ahead of the third quarter of 2026 (July – September) as authorities move to bridge potential supply gaps in the domestic market….
World Bank says Nigeria, others accountable for 83% of global gas flaring, as NMDPRA decries energy under-utilisation
World Bank has listed Nigeria, alongside United States, Russia and six other countries as accountable for over 83 per cent global gas flaring in 2025. Nigeria remained one of the world’s largest gas-flaring countries in 2025. This is just as recent…
Petrol pump prices jump by over 55% in May, hit N1, 596/ltr
Latest data released by the National Bureau of Statistics (NBS), Wednesday, has shown that the average retail pump price of Premium Motor Spirit (PMS) or petrol jumped by 55.31 per cent year-on-year to N1,596.25 per litre in May 2026, from…
Food inflation maintains steady rise, hits 17% in May — NBS
National Bureau of Statistics (NBS) says the country’s food inflation has continued its upward trajectory for the fourth consecutive month, reaching 16.96 per cent in May. NBS disclosed this in its May report on food inflation in Nigeria. According to the…
39 vessels to berth at Lagos ports with petroleum products, food, fertilizer, others – NPA
Nigerian Ports Authority (NPA) has disclosed that a total of 39 vessels laden with petroleum products, food items and other goods are expected at the Lekki Deep Sea Port, as well as, the Apapa and Tincan Island ports in Lagos, Tuesday….
Local refineries reach 48mlpd PMS production – FG
Federal Government has disclosed that local production of premium motor spirit (PMS) or petrol has hit 48 million litres per day (lpd). petrol Special Adviser to the President on Oil and Gas, Mrs Olu Verheijen, who disclosed this at the…
CBN to ease transparency concerns with new UBO regulation on ownership of banks, fintechs, others
Central Bank of Nigeria (CBN) has mandated banks, fintechs and other payment service providers operating in the country to disclose their ultimate beneficial owners (UBO). The regulatory measures were contained in a circular dated June 15, 2026, and signed by CBN’s…
NMDPRA set to introduce gas tariff, pricing framework
Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Abdullahi Umar, had disclosed that a gas tariff regulation is underway, adding that the agency would unveil a proper pricing framework at its next meeting. Umar…
