NUPRC concluded Nigeria's 2025 licensing round on 21 July, awarding 37 oil blocks to 31 companies. Winners have 90 days to pay signature bonuses, with the government projecting 500 million barrels in new reserves and 300,000 barrels daily production withi
Ardova Plc's subsidiary, Aradel Holdings, will commence petrol production at its 5,000-barrel modular refinery in 2027, boosting domestic supply.
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) is supporting 200 gas projects as Nigeria moves to unlock its $200 trillion gas reserves, boosting energy security and investment.
At least 20 electricity transmission towers were vandalised in Nigeria between January and August 2026, causing N8 billion monthly losses and prompting calls for stronger security.
Dangote Refinery and several depots reduced petrol prices 24 hours after a hike, offering relief to motorists amid volatile global oil markets.
Sunbeth and A.A. Rano launch self-service fuel stations in Nigeria, promising transparency and convenience, but workers raise unemployment concerns amid regulatory oversight calls.
Dangote Refinery warns that high domestic crude prices could increase fuel costs for Nigerians, citing NUPRC data and DCSO framework challenges.
CBN raised its lending rate to 17.59% in a recent auction, despite a N4.4 trillion bid against a N700 billion offer, signaling tight liquidity.
The naira appreciated to N1,360 per dollar at the official market, its strongest level since June, driven by improved dollar supply and CBN interventions.
Nigeria's crude oil output held above 1.5 million barrels per day for the third consecutive month in July, despite a slight drop from June, according to the latest OPEC data.
NFEM turnover fell to $185 million, an 11-week low, as FX market activity thinned. The decline reflects reduced liquidity and investor caution.
Financial institutions can eliminate branch energy volatility by building managed power networks, reducing costs and ensuring reliable operations, according to experts.
Dangote Refinery increased its ex-gantry petrol price by N15.50 to N1,181 per litre, pushing depot rates to an average of N1,200 per litre as crude oil nears $90 per barrel.
The Federal Government is reviewing crude oil supply rules to ease feedstock costs for local refiners, amid ongoing disputes over pricing and availability.
Coronation Insurance Plc and Coronation Life Assurance Limited have completed an oversubscribed private placement, raising capital to meet new NIIRA 2025 requirements and support growth.
Northern Youth Groups defend NNPCL's N7.13tn energy security expenditure, citing PIA legal basis and urging scrutiny based on complete facts.
President Tinubu has approved a deep offshore reform aiming to attract $50 billion in Nigeria's oil sector. The reform includes fiscal incentives and streamlined processes to boost investment.
Nigeria plans to allocate all crude oil production to domestic market by 2030 as refining capacity expands, says NMDPRA.
Petrol depot prices rose in Nigeria on Tuesday, August 11, 2026, with Parker in Warri recording the largest increase of N48 per litre to N1,230, amid a rally in global crude oil prices.
Nigerian airlines have borrowed over N60bn from local banks to buy aviation fuel, with jet fuel prices at 270% of global benchmark, says AON.
Private depot operators in Nigeria raise petrol prices by up to N50 per litre as crude oil nears $90, with Brent at $88.04. Filling stations may increase pump prices if supply disruptions persist.
In Q2 2026, Nigerian refineries received 53.7 million barrels of crude, a 30% rise from Q1, boosting domestic refining capacity.
NERC dissolves KAEDC board, appoints administrator over N456.5bn debt, poor remittances, and high losses.
NNPC reduces petrol prices in Lagos and Abuja, with Lagos seeing N60 cut. Private depots follow, and diesel prices drop by up to N100 per litre.
Nigeria's CEPRSD hails NUPRC's Eyesan for transparent 2025 licensing round, with 143 firms submitting 200 bids for 37 blocks.
Aliko Dangote plans to start construction of a 700,000 bpd refinery in Kenya by October, a $16 billion project to boost East African fuel supply.
Iran blocks US talks, keeping Hormuz uncertain; oil prices face fresh threat as supply risks escalate, analysts say.
Ayo Fayose, REA chairman, says lack of electricity makes couples go to bed early, doubling population. He urges addressing power for nightlife.
Azikel Refinery in Bayelsa nears completion, set to produce petrol and aviation fuel, complementing Dangote and boosting Nigeria's energy independence.
Refined oil now accounts for 47.5% of UK imports from Nigeria, surpassing crude oil for the first time, according to latest trade data.