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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…
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…
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…
FG, retailers disagree over rising cost of cooking gas
Federal Government and Liquefied Petroleum Gas (LPG) or cooking gas retailers have differed on the reasons for the scarcity and high prices of the commodity in the market. While government insists the current scarcity and consequently high prices of the…
FG orders crackdown on hoarding, tasks NMDPRA to stabilise LPG prices
The Federal Government has directed regulators in the energy sector to intensify market surveillance and work closely with security agencies to eliminate sharp practices responsible for artificial scarcity and rising prices of Liquefied Petroleum Gas (LPG), commonly known as cooking…
