GenCos Question N3.3tn Power Sector Debt Settlement Amid Delayed Payments
The Federal Government’s renewed approval of N3.3tn to settle long-standing power sector debts has ignited fresh controversy, with power generation…
Category: Energy
Nigeria Achieves Fiscal Milestone: Non-Oil Revenue Now 75% of Federation Funds
Nigeria has marked a historic turning point in its economic landscape, as non-oil revenue now accounts for 75 per cent…
Nigeria’s Power Sector Gets N3.3 Trillion Lifeline as Eight GenCos Sign Debt Bailout
Eight of Nigeria’s major power generation companies, including Transcorp Power, Egbin Power, and Geregu Power Plc, have signed onto President…
Nigeria Launches 950,000-Barrel Export of New Cawthorne Crude, Boosting Energy Security
The Nigerian National Petroleum Company Limited (NNPC) has successfully exported 950,000 barrels of the newly developed Cawthorne blend crude, marking…
Tinubu’s Naira-for-Crude Policy Ensures Fuel Supply Stability Amid Global Energy Crisis
President Bola Tinubu’s Naira-for-Crude initiative has helped Nigeria maintain a stable supply of petroleum products, even as countries worldwide face…
Nigeria’s Oil and Gas Reserves Reach 37 Billion Barrels and 215 TCF in 2026, NUPRC Confirms
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially confirmed the country’s total petroleum reserves at 37.01 billion barrels of…
Oil Prices Surge Over 5% as Trump Warns US Will Hit Iran “Extremely Hard”
Oil prices jumped sharply on Thursday, climbing more than 5% after U.S. President Donald Trump signalled that the United States…
Oil Prices Surge Over 6% as Trump’s Iran War Threat Escalates Market Fears
Oil prices jumped sharply on Wednesday, with global benchmark Brent crude rising more than 6%, after U.S. President Donald Trump…
Afreximbank Leads $4 Billion Funding Boost for Dangote Refinery
The African Export-Import Bank (Afreximbank) has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum…
NNPC to Boost Crude Supply to Dangote Refinery from May Amid Rising Fuel Prices
The Nigerian National Petroleum Company Limited (NNPC) will increase crude oil allocations to the Dangote Refinery starting May, industry sources…
FG Plans to Bridge N9tn Budget Gap with Oil Windfall and $6bn Loans
The Federal Government has requested the National Assembly’s approval for a N9.09tn increase to the 2026 budget, signaling a major…
NNPC Increases Crude Supply to Dangote Refinery to Seven Cargoes Amid Rising Fuel Prices
The Nigerian National Petroleum Company Limited (NNPC) has announced an increase in crude oil allocations to the Dangote Petroleum Refinery,…
Oil Prices Hover Around $100 Amid Trump Iran Exit Comments and Middle East Tensions
Crude oil prices swung wildly around the $100 mark on Wednesday as investors reacted to U.S. President Donald Trump’s comments…
Nigerian Crude Soars in March as Bonny Light Commands Premium Amid Geopolitical Tensions
Nigerian crude oil marked its strongest monthly performance in March, climbing nearly 58% and approaching $120 per barrel at the…
Nigeria’s Gas Wealth Attracts Europe Amid Supply Crisis, But Infrastructure Gaps Slow Response
European energy markets are under pressure as supply disruptions from Qatar force countries like Belgium, Italy, and Poland to urgently…
Nigeria’s Oil Sector in Crisis: Urgent Reforms Needed Before Wells Run Dry
For decades, Nigeria’s oil sector has been the backbone of the nation’s economy, funding government budgets and providing much of…
Nigeria Targets 12 BCF Daily Gas Output Amid Energy Expansion Push
Nigeria is ramping up its natural gas production as part of an ambitious strategy to position the resource at the…
Nigeria’s Solar Panel Imports Surge Amid Persistent Power Outages
Nigeria’s imports of solar panels from Asia have surged, with the fourth quarter alone recording a total of N100.83 billion,…
Nigeria Can Boost Oil Production by 100,000 bpd in Months – NNPC CEO
Nigeria has the potential to increase its oil production by about 100,000 barrels per day in the next few months,…
Over $100 Billion Lost to Oil and Gas Price Spikes Amid Iran War: 350.org Warns of Global Economic Fallout
Just one month into the Iran war, ordinary people around the world are already paying an extraordinary price for fossil…
OPL 245 Transparency: Civil Society Groups Demand Full Disclosure of Shell, Eni, NNPC Deal
Civil society organisations in Nigeria are calling for full transparency over the recent reported agreement on the controversial OPL 245…
BOI’s N825 Million Green Fund Cuts Costs and Boosts Industrial Output in Nigeria
Small and large businesses across Nigeria are experiencing lower production costs and improved operational efficiency, thanks to the Bank of…
ZEN Petroleum IPO Fully Subscribed: $640M Listing to Boost Ghana Stock Exchange Presence
ZEN Petroleum Holdings PLC is set to make a major impact on the Ghana Stock Exchange (GSE) after securing a…
Rising Oil Prices Hit Nigerians Hard as Post-Subsidy Economy Faces Test
Nigeria is feeling the full impact of rising global oil prices, with no fuel subsidy to soften the blow. Since…
FG Targets 5.2 Million Nigerians with Electricity Connections Under $750M World Bank Loan
The Federal Government of Nigeria is ramping up efforts to expand electricity access, aiming to connect 5.2 million Nigerians by…
US Cuts Nigerian Crude Imports by Nearly 50% in January 2026: What It Means for Oil Trade
The United States sharply reduced its imports of Nigerian crude oil in January 2026, marking a nearly 50% drop compared…
European Markets Fall as Iran War Escalation Rattles Global Investors
European markets started the week on a cautious note, slipping into negative territory on Monday as investors reacted to the…
Petrol Price in Nigeria Remains High Despite Dangote Cut as Global Oil Tensions Rise
Despite a recent price reduction by the Dangote Petroleum Refinery, petrol price in Nigeria has remained stubbornly high, with marketers…
Zelensky Urges EU to Confiscate Russian Oil and Block Shadow Fleet Ships
Ukrainian President Volodymyr Zelensky on Thursday urged European countries to take stronger measures against Russia’s so-called “shadow fleet,” calling for…
Tinubu Expands CNG Initiative to Include Electric Vehicles, Boosting Nigeria’s Clean Mobility
President Bola Tinubu has approved a major expansion of the Presidential Initiative on Compressed Natural Gas (PiCNG) to now include…