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.
Category : Oil Gas
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.
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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.
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.
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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.
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.
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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.
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.
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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
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.
Why Africa's Downstream Sector is the Next Big Investment
Africa's downstream oil sector needs over $100bn investment by 2050. Discover how ARDA is tackling regulatory & infrastructure gaps to unlock this massive opportunity for global investors.
Nigeria ships 33.2m barrels of crude to U.S. in eight months
Nigeria strengthens its role as the top African crude oil supplier to the United States, exporting 33.23 million barrels worth $2.57 billion from January to August 2025. Discover the economic impact and the role of Dangote Refinery.
Nigerians Confirm N739 Fuel Price at MRS Stations
Several Nigerians have confirmed purchasing petrol at the new N739 per litre price announced by Dangote Refinery. Reports from Lagos stations verify the reduction, offering relief amid high costs.
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NOSDRA Pledges Yorla Well 14 Spill Site Restoration
NOSDRA leads federal delegation to Ogoniland, pledging full environmental restoration after Yorla Well 14 oil spill. Officials warn against future incidents and call for community cooperation.
Dangote Refinery Slashes Petrol Price by N200 in 2025
Dangote Petroleum Refinery closed 2025 with a dramatic N200.50 per litre price cut, reshaping Nigeria's fuel market. Learn how local refining is driving down costs and pressuring importers.
NNPC's Oleum Promo Returns: Win Up to ₦100 Million
NNPC Retail relaunches its Oleum Scratch & Win promo with bigger prizes, including ₦100 million cash, cars, and generators. Learn how to participate from Dec 20, 2025, to March 31, 2026.
PENGASSAN laments high cost of living, urges salary review
PENGASSAN President Festus Osifo warns of a massive brain drain in Nigeria's oil sector due to devaluation and stagnant wages. The union demands urgent salary reviews and criticizes economic policies.
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.
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Tinubu hails Ogoni peace pact ahead of oil resumption
President Tinubu commends Ogoni peace efforts for oil revival, but activists demand justice and environmental cleanup first. Read the full story on the tensions and government plans.
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