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FG to issue fresh N729bn bond for GenCos settlement, as legacy debt rises to N6.8trn
Nigerian government has disclosed that it is pushing ahead with the second tranche of about N729 billion bond issue to settle part of the power sector’s legacy debt to Electricity Generation Companies (GenCos). The Nigerian Bulk Electricity Trading Plc (NBET) confirmed…
Cooking gas prices drop amid supply surge
Retail prices of the Petroleum Liquefied Gas (LPG) also known as cooking gas have dropped massively from the N2, 300+/kg across the country to as low as N1, 000/kg, as confirmed by the Nigerian Association of Liquefied Petroleum Gas Marketers…
FG may clamp down on petrol marketers over continued high pump prices
Federal Government has expressed displeasure with Premium Motor Spirit (PMS) or petrol marketers over the continued high pump price of the product despite the easing of global tensions in the Middle East which triggered the rise in the first place. The…
Petroleum products’ pump prices continue rise nationwide in May, as diesel records 86% increase — NBS
Latest Price Watch data released by the National Bureau of Statistics (NBS) has shown that May pump prices of the three major petroleum products continued to rise compared to same period last year. The NBS data disclosed that diesel recorded the…
Ikeja Eectric appoints Onyelucheya Acting CEO, replaces Soetan
Electricity distribution company (DisCo) distribution company in the country, the Ikeja Electric (IE), has appointed Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer (CEO), effective from July 1, 2026. The appointment follows the elevation of outgoing CEO, Mrs. Folake Soetan…
IPMAN decries bearing brunt of petroleum products market volatility
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have decried bearing the brunt of market volatility in the downstream petroleum sector, even as they berated the frequent products’ pump price fluctuations in the country. IPMAN leadership disclosed this…
Nigeria’s crude oil import rises by 308.9% to hit $1.39bn in Q1 2026, as petrol, gas importation drop to 87.5%
Data obtained from the Balance of Payments Highlights of the Central Bank of Nigeria (CBN) has indicated a rise in Nigeria’s crude oil imports from the $340 million recorded in the fourth quarter (Q4) of 2025 to $1.39 billion in…
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…
