Skip to content
PETROAN demands binding commitment, consequences on refinery rehab
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government and the Nigerian National Petroleum Company (NNPC) Limited to move beyond assurances and memoranda and commit the Port Harcourt and Warri refineries to a binding,…
Nigeria maintains OPEC quota despite 4% July production dip
Nigeria sustained crude oil production above its OPEC quota in July 2026 despite a 4 per cent month-on-month decline attributed largely to operational disruptions at the Erha and Akpo fields. Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed…
Nigeria pushes unified regional market for energy security
The Federal Government has called for a unified regulatory framework and harmonised operating rules, technical standards and market procedures across West Africa, arguing that deeper regional integration would improve efficiency, attract investment and facilitate cross-border petroleum trade. Commission Chief Executive…
FG floats fiscal incentives for deepwater petroleum projects
The Federal Government has approved a new fiscal framework for petroleum investment incentives aimed at unlocking up to $50 billion in investments and reviving major deep offshore oil and gas developments that have remained stalled for years. The reform comes…
NLNG: Turning flares to wealth, shrinking industry’s footprint on environment
Nigeria’s oil and gas industry has long been judged by the volume of hydrocarbons extracted and exported, but the more consequential measure of its value to the country is increasingly the economic, social and environmental footprint it leaves behind. By…
Lagos, Rivers, FCT top list for Nigeria’s N4.52trn domestic debt in Q1 2026
Debt Management Office (DMO) has disclosed that the states of Lagos and Rivers, as well as the Federal Capital Territory (FCT) jointly account for 43.27 per cent of the country’s total N4.52 trillion debt stock in Q1 2026. According to…
Lagos gov., Sanwo-Olu, others advocate alternative financing as Nigeria’s growth engine at AltBank’s ‘Beyond Interest’ forum
From left): Korede Demola-Adeniyi, Executive Director, The Alternative Bank (AltBank); Babatunde Raji Fashola, former Governor of Lagos State & former Federal Minister of Works and Housing, and Abubakar Suleiman, Non-Executive Director, Sterling Financial Holdings Company Plc at AltBank’s ‘Beyond Interest’…
Domestic crude oil market suffers glut as refineries turn down 15.64 Mbbls
Domestic refineries in Nigeria absorbed 53.7 million barrels of crude oil and condensate in the second quarter of 2026, as increased local production and stronger implementation of the Domestic Crude Supply Obligation (DCSO) provided refiners with substantial volumes of feedstock….
Xenophobic attacks: AfCFTA under threat as Nigeria, S/Africa deepen diplomatic row over compensation for displaced Nigerians
Nigeria’s Minister of Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu Brewing diplomatic row between two of the continent’s biggest economies now threatens the world’s largest free trade agreement by number of countries, the African Continental Free Trade Agreement (AfCFTA) as Nigeria and…
‘Nigeria can no longer depend solely on DisCos,’ as FG plans nationwide utility-scale renewable energy
Federal Government has disclosed plans to create Renewable Energy Service Companies (RESCos) across the country to drive access to electricity for more households. Government said the RESCos are expected to compete directly with existing electricity distribution companies (DisCos) over the…
