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Nigeria’s external reserves hit 13-year high as CBN cuts rate amid falling inflation
“Gross external reserves surpass $50 billion, providing nearly 10 months of import cover, while year-on-year inflation eases for the eleventh consecutive month, prompting a 50bps reduction in the Monetary Policy Rate to 26.5%.” Sopuruchi Onwuka Nigeria’s gross external reserves rose…
NUPRC’s digital shift improves royalty tracking, compliance
Sopuruchi Onwuka Digitization of regulatory processes at the Nigerian Upstream Petroleum Regulatory Commission has significantly improved the tracking and enforcement of royalty payments, according to the Commission’s Chief Executive, Mrs. Oritsemeyiwa Eyesan. Eyesan said default rates on royalty payments were…
Dangote flaunts fuel supply capacity, but price creates real gaps
Disproves government’s supply figures Sopuruchi Onwuka Private refinery behemoth, Dangote Industries Limited, has declared that it has optimized its plant processing operations, increasing fuel production capacity beyond perceived national peak daily demand. The company also stated that it now has…
Executive Order No. 9 prioritizes immediate cash over oil industry sustainability
The controversial Executive Order No. 9 of 2026 which essentially pulls back investment and operating capitals reserved for strategic growth programs of the Nigerian National Petroleum Company (NNPC) Limited does not just nullify provisions of the Petroleum Industry Act (PIA),…
Nigeria’s Jan oil output, price challenge 2026 budget assumptions
Sopuruchi Onwuka Nigeria’s crude oil production slipped in January, highlighting an early gap between actual performance and the more ambitious assumptions embedded in the 2026 federal budget. An analysis of the January production performance and average oil price in January…
NNPC, Dangote resolve to collaborate, diversify venture opportunities
Two of Nigeria’s most powerful energy players, the Nigerian National Petroleum Company Limited (NNPC) and Dangote Petroleum Refinery & Petrochemicals, have agreed to rebuild and deepen their collaboration as part of a broader push to diversify downstream operations and expand…
FG seeks expansion of clean cooking to 5m homes
Sopuruchi Onwuka Federal Government has called for strong global financing support to accelerate clean cooking access for five million Nigerian households by 2030, stressing that is a pillar of economic inclusion, gender empowerment, domestic industrialization and environmental stewardship. Minister of…
WIEN pledges stronger partnership with Brevity Anderson, PETAN
Ziggy Ojiegbe Africa’s leading gender equity advocate in the energy sector, Women in Energy Network (WIEN), has said the first round of industry conferences in 2026 has set a credible agenda for the year, pledging deeper partnership with the hosts…
PENGASSAN demands immediate withdrawal of Tinubu’s Executive Order
Laments weakness of institutions to challenge hurtful Presidential orders Says Executive Order nullifies provisions of PIA Sopuruchi Onwuka Nigeria’s top petroleum industry workers union, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has called on President Bola…
NCDF: FG warns oil firms, contractors of non-compliance consequences
Defaulters deny themselves all regulatory support Sopuruchi Onwuka Players in the upstream petroleum industry who fail to make mandatory legal payments into designated accounts of the Nigerian Content Development Fund (NCDF) might lose their entitlement to all regulatory support and…
