Tinubu cancels $1.42bn NNPC debt, Agbese reacts
President Tinubu cancels $1.42bn NNPC debt. Reps' Agbese links it to CEO Ojulari's transparency and record oil output. Read the full analysis.
Category : Oil Gas
Dangote Refinery Price War Cost Petrol Retailers Billions
PETROAN reports the 2025 price war between Dangote Refinery and marketers led to massive losses for retailers, squeezed profits, and market instability. The group calls for urgent stakeholder dialogue.
Elumelu's $496m Seplat Deal Set to Boost Fortune
Billionaire Tony Elumelu expands his energy empire, acquiring a 20.07% stake in Seplat Energy for $496 million. The deal makes Heirs Energies the largest shareholder and is expected to significantly increase his net worth. Read the full details.
NNPC remits N12.1trn, reports N502bn profit in 2025
NNPC Limited remitted N12.117 trillion to the Federation Account in ten months, reporting strong revenue and profit growth. Oil production held steady as key gas pipeline projects near completion.
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NNPC Records N4.36tr Revenue, N502bn Profit
NNPC Ltd announces N4.36 trillion revenue and N502 billion profit for November 2025, driven by increased oil production. Discover the full financial and operational breakdown.
New Refineries to Add 850,000 bpd, State Plants Fail
PETROAN projects 850,000 bpd from new refineries but slams N11.35tr waste on state plants. Read the 2026 outlook for Nigeria's oil sector.
Elumelu's Heirs Energies Buys $500m Seplat Stake
Heirs Energies, led by Tony Elumelu, has acquired a 20.07% stake in Seplat Energy for $500 million. The deal, backed by Afreximbank, marks a major shift towards indigenous ownership in Nigeria's energy sector. Read the full story.
Heirs Energies Buys $500M Stake in Seplat Energy
Tony Elumelu's Heirs Energies acquires a 20.07% stake in Seplat Energy from Maurel & Prom for $500 million, marking a major shift in indigenous ownership of Nigeria's energy assets. Read the full details.
NIPCO to Boost Stake in Savannah Energy to 26.5%
Savannah Energy ends its share buyback, freeing £10m. NIPCO plans to increase its stake to 26.5% via secondary market deals. A new relationship agreement aims to protect minority shareholders. Read the full details.
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NNPC Debt Waiver: Only Penalties Forgiven
Clarification emerges that NNPC's $1.42bn and N5.57tr debt waiver covered only interest and penalties, not core royalties. CHRICED slams the move as reckless and opaque.
20m Nigerian Homes Stick to Firewood Over Cooking Gas
Despite rising LPG production, over 20 million Nigerian households rely on firewood and charcoal due to high costs. Experts warn of deforestation and health risks as government targets 5 million cylinders by 2030.
Gas Crisis Fuels Deforestation as Prices Soar
Despite vast gas reserves, soaring LPG prices force Nigerian households back to firewood and charcoal, deepening health risks and accelerating forest loss. Experts warn of a growing energy poverty crisis.
NNPCL Cancels N4.01 Trillion Subsidy Debt
The Nigerian National Petroleum Company Limited has cleared N4.01 trillion in subsidy arrears owed by the FG after FAAC reconciliation. Discover the details and implications for Nigeria's economy.
NNPC Lists Top Assets for Sale, Opens Bidding Process
NNPC launches a formal bid to sell stakes in key oil and gas assets. This strategic divestment aims to attract investors, boost production, and reshape Nigeria's energy sector under the PIA reforms.
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Dangote Named Guardian Person of the Year 2025
Aliko Dangote's refinery ends Nigeria's fuel import dependence, saving billions in forex and sparking industrial hope. Discover the impact of Africa's richest man.
NNPC Sells Stakes in Oil Assets, Bids Open
NNPC Limited invites bids for stakes in key oil and gas assets. Registration deadline is January 10, 2026. PENGASSAN confirms the strategic divestment plan.
NNPC Fully Restores Escravos-Lagos Gas Pipeline
The NNPC has successfully restored the Escravos-Lagos Pipeline System after a December explosion. Read how this swift action secures Nigeria's gas supply for power and industry.
FG Cancels N5.57 Trillion, $1.42 Billion NNPC Debt
President Tinubu approves massive debt write-off for NNPC after reconciliation, aiming for a clean financial slate. Discover the details and ongoing revenue challenges.
Tinubu cancels $1.42bn NNPC debt to Federation Account
President Bola Tinubu has approved the cancellation of $1.42 billion in legacy debts owed by NNPC Ltd to the Federation Account. Learn the details and implications of this major financial decision.
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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.
Analyst Highlights Bayo Ojulari's 8-Month Achievements at NNPCL
Public policy analyst James Okafor assesses NNPCL GCEO Bayo Ojulari's focus on regional energy collaboration and strategic positioning over quick wins. Discover the key projects shaping Nigeria's continental energy role.
Rivers Community Demands FG Action on Oil Pollution
Leaders in Rivers State's Kpean community demand urgent federal action over a massive oil spill destroying farmlands and rivers. They accuse FG, Shell, and NNPCL of negligence.
4 Oil Theft Suspects, Vessel Handed Over in Delta
Tantita Security Services arrests four oil thieves, intercepts vessel MT Thor in Delta. Handover to Inter-Agency Task Force marks a key step in curbing economic sabotage in Niger Delta. Read details.
PETROAN Calls for NNPC Refinery Sale by Early 2026
PETROAN urges the Nigerian government to privatise state-owned refineries by Q1 2026 to cut costs and boost efficiency. NNPC, however, is reviewing viability over an outright sale.
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Man Reports MRS Stations Selling Fuel Above Dangote's N739 Price
A young Nigerian reports MRS filling stations in Lokoja selling fuel at N830/litre, harassing customers. This follows Aliko Dangote's call to report stations not complying with the N739 price. Read public reactions.
Dangote Refinery's 2025 Crisis: Unions, Pricing & Regulation
Nigeria's oil sector faced major tensions in 2025 as Dangote Refinery clashed with unions, marketers, and regulators over labour rights, pricing, and market control. Explore the full review of the crisis and its implications for 2026.
OML 30 Sees Rising Production After Major Restructuring
Heritage Energy says years of restructuring and investment in OML 30 are now yielding rising production and stronger reserves. The firm prioritized long-term stability over short-term gains.
Nigeria Aims to Resume Oil Production in Ogoniland
The Nigerian government is pushing to resume crude oil production in Ogoniland, Rivers State, marking a major shift in a long-standing dispute. Read about the new peace efforts and economic implications.
Chappal Energies gets $430m financing for oil assets
Chappal Energies secures a $430 million reserve-based lending package to refinance its acquisition of Equinor's Nigerian assets and fund development. This deal highlights investor confidence in well-structured African upstream projects despite tight capit
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Nigeria's Oil Revenue Falls 64% Short of Target in Q1 2025
The Federal Government's Q1 2025 budget report reveals a massive N8.21 trillion shortfall in oil revenue and a N3.04 trillion fiscal deficit. Discover the key figures and causes behind this critical shortfall.
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