NNPC Profit Hits N5.4tn as Directors' Pay Soars 58%
NNPC Limited reports record N5.4 trillion profit while directors' fees jump to N4.1 billion. Zero staff resignations in 2024 as administrative costs surge. Read the full analysis.
Category : Search result: petroleum smuggling
Nigerian Woman Arrested in India with Cocaine in Bread
A 29-year-old Nigerian woman, Olajide Esther, was arrested in Bengaluru, India, for smuggling 121 grams of cocaine concealed inside sliced bread. Police seized the drugs worth Rs 65 lakh and arrested the intended recipient. Read the full details.
US to Keep Seized Venezuelan Oil, Trump Warns Maduro
US President Donald Trump confirms the US will retain crude oil and tankers seized near Venezuela, intensifying pressure on President Nicolás Maduro. Read the latest on the escalating crisis.
Trex Petroleum Recognizes Offshore Safety Leaders
Trex Petroleum and Energy Limited has awarded four offshore professionals for outstanding safety performance at its 2025 Focus on Safety Initiative in Lagos. Discover the champions of offshore safety.
Nigeria Suspends 15% Fuel Import Duty Amid Backlash
The Nigerian government suspends a controversial 15% fuel import duty to avoid festive season price hikes. Experts warn of policy inconsistency and the need for long-term energy security. Read more.
First Woman Appointed as NUPRC CEO, WIME Lauds Tinubu
Women in Maritime & Energy (WIME) commends President Tinubu for appointing Mrs. Oritsemeyiwa Eyesan as the first female Chief Executive of Nigeria's upstream oil regulator. Read more on this milestone for gender inclusion.
Indigenous Firms Control 50% of Nigeria's Oil, Gas Output
The Independent Petroleum Producers Group (IPPG) announces indigenous firms now account for over 50% of Nigeria's crude oil and gas production. Discover the impact on energy security and sector growth.
Nigeria's Oil Sector: PIA Fails, Distrust Deepens
Despite the Petroleum Industry Act, Nigeria's oil sector remains mired in opacity. NEITI recovers billions, but Dangote Refinery clashes with NMDPRA, exposing deep-seated governance failures. Read the full analysis.
Reps Enforce PIA to Protect Oil-Producing Communities
The House of Representatives Committee on Host Communities commits to enforcing the Petroleum Industry Act, ensuring oil-producing areas get their full benefits. Read about the new oversight and funding model.
Navy Hands Over 58 Bags of Smuggled Rice to Customs
Nigerian Navy Ship BEECROFT has transferred 58 seized bags of foreign parboiled rice to Customs. The interception highlights ongoing efforts to curb smuggling in Lagos waters.
Dangote, Others Honoured in Downstream Petroleum Awards
Petroleumprice.ng honours Aliko Dangote, MRS Oil, Rainoil, and others in its first industry awards. Winners were chosen via a hybrid model of public votes and expert judges. Read the full list.
LASG Engages Alimosho Community on Pipeline Safety
Lagos State government warns community silence fuels pipeline vandalism and explosions. Officials urge residents to report illegal activities for collective safety. Read more.
Customs Seizes N2bn Goods, Disrupts Ogun Smuggling Networks
Nigeria Customs Service Ogun 1 Command intercepts drugs, rice, and petrol worth over N2bn, handing cannabis to NDLEA. Acting CAC Oladapo Afeni vows continued vigilance.
Senate Confirms New CEOs for Petroleum Agencies
The Nigerian Senate has confirmed Saidu Mohammed and Oritsemeyiwa Eyesan as CEOs of NMDPRA and NUPRC. Read about their confirmation process and the expectations for Nigeria's oil sector.
Ahmed defends $5M education spending, welcomes probe
Outgoing NMDPRA CEO Farouk Ahmed dismisses allegations of spending $5m on children's education abroad, invites anti-graft agencies to investigate. Senators Oshiomhole and Jimkuta celebrate his exit, while new nominees chart ambitious reform paths for Nige
Senators Celebrate Exit of Petroleum Regulators, Demand Change
Senators Adams Oshiomhole and David Jimkuta hailed the removal of Farouk Ahmed and Gbenga Komolafe, criticizing policies that hurt local refining. Read their demands for the new nominees.
Ogun Customs Seizes ₦2.6B Drugs, Contraband
Nigeria Customs Service in Ogun intercepts heroin, cannabis, spaghetti, and oil worth billions in major crackdown. Read details of the intelligence-led operations.
Tinubu Nominates Oritsemeyiwa Eyesan as NUPRC CEO
President Bola Tinubu nominates Oritsemeyiwa Eyesan, an NNPC veteran with 33 years of experience, as the new Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Discover her career journey and strategic impact on Nigeria's oi
Tinubu meets oil regulator chief after Dangote's allegations
President Tinubu held a private meeting with NMDPRA CEO Farouk Ahmed following explosive allegations by Aliko Dangote of corruption and economic sabotage in Nigeria's oil sector.
NMDPRA, NUPRC Chiefs Resign After Dangote's Allegations
President Tinubu seeks Senate confirmation for new oil sector chiefs after Farouk Ahmed and Gbenga Komolafe resign. The move follows Aliko Dangote's public allegations of multi-million dollar school fees payments. Read the full details.
Court dismisses suit challenging PIA host community provisions
A Federal High Court in Warri has dismissed a suit seeking to invalidate key Petroleum Industry Act provisions on host community liability. The court affirmed the Act's validity. Read the full details.
NMDPRA Chief Disowns Viral Statement on Corruption Allegations
NMDPRA boss Engr Farouk Ahmed denies authorising a viral defence against corruption claims. He opts for institutional probe over public brickbat as ICPC reviews Dangote's petition.
Nigeria's oil rigs stuck at 41 amid OPEC expansion
Nigeria's oil rig count remained flat at 41 in November, unchanged from 2024, while OPEC nations boosted activity by 7%. Discover the structural challenges holding back Africa's top producer.
Dangote Seeks ICPC Probe of NMDPRA MD Over $7M
Aliko Dangote petitions ICPC, alleging NMDPRA MD Farouk Ahmed misused public funds for children's Swiss tuition. Lawyers group condemns 'media trial'. Full story.
CSOs Defend NMDPRA Against Dangote's Allegations
A coalition of Civil Society Organisations has defended the NMDPRA against claims of undermining regulatory independence. They absolve CEO Farouk Ahmed of corruption, citing his adherence to the PIA. Read the full story.
Army Kills Kidnapper, Arrests Informants in Plateau
Nigerian Army troops foil kidnapping, kill one suspect, and arrest informants in Jos North. A separate case reveals a woman arrested for transporting 2,500 rounds of ammunition. Read the latest on security operations.
Nigeria Uses Tech to Fight Migrant Smuggling Networks
Nigeria Immigration Service unveils tech-driven strategy to dismantle sophisticated criminal networks fueling migrant smuggling and irregular migration. Learn about the new measures.
NASS Steps into Dangote, NMDPRA Face-Off
The House of Representatives committee has summoned Aliko Dangote and NMDPRA leaders to halt public feuding and resolve sector tensions. Read the full details.
Reps Panel Pushes for Fuel Supply Sufficiency, Downstream Efficiency
The House Committee on Petroleum (Downstream) outlines a legislative push to strengthen local refining and stabilise Nigeria's fuel sector ahead of 2026. Read the full plan.
House of Reps Intervenes in Dangote, NMDPRA Dispute
The House of Representatives has stepped in to mediate the escalating conflict between Dangote Refinery and the NMDPRA. Both parties have been summoned to present their cases. Read the full story.
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