Nigeria’s Crude Oil Earnings Plunge 43% Despite Production Rebound
Nigeria’s crude oil and gas profits dropped sharply by 43 per cent in 2024, falling to ₦1.08 trillion from ₦1.9…
Category: Energy
HEDA Urges Tinubu to Suspend 15% Fuel Import Tariff Amid Worsening Economic Hardship
The Human and Environmental Development Agenda (HEDA Resource Centre) has urged President Bola Ahmed Tinubu to suspend the implementation of…
Nigeria’s Crude Oil Earnings Plummet 43% Despite Rising Production in 2024
Nigeria’s earnings from crude oil and gas sales plunged by 43% in 2024, even as production increased, highlighting persistent fiscal…
Dangote and Fuel Depots Slash Petrol Prices in Fresh Market Battle
Nigeria’s downstream fuel market is witnessing a fresh price war as Dangote Refinery and private depot operators cut gantry prices…
Nigeria Hosts Practical Nigerian Content Forum 2025 to Drive Local Content Growth and Energy Investment
Nigeria is strengthening its position as a leader in local content development across Africa, as the country prepares to host…
Shell Awards Offshore Gas Development Deal to Halliburton in Boost for Nigeria’s LNG Future
Shell Nigeria Exploration and Production Company (SNEPCo) has awarded Halliburton an integrated drilling and completion services contract for the development…
Nigeria Risks Oil Production Decline Without New Discoveries, NAPE Warns
Nigeria’s oil production could face a steep decline in the coming years if the country fails to make new crude…
Northern Manufacturers Applaud 15% Fuel Import Tariff as Boost for Local Refining and Economic Growth
Industrialists across Northern Nigeria have endorsed the Federal Government’s introduction of a 15% import duty on petroleum products, describing the…
Nigeria Poised for Oil Output Boost as NUPRC Confirms Readiness of EMEM FPSO Vessel
Nigeria’s crude oil output is set for a major surge as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced progress…
Inflation Pushes More Nigerians Into Energy Poverty, Says NISO
Rising inflation and falling household incomes are driving millions of Nigerians deeper into energy poverty, despite being connected to the…
Oando suspends petrol imports as Dangote raises output
Oando Plc has officially suspended its petrol importation amid the rising influence of the Dangote Refinery, which continues to reshape…
OPEC Urges Nigeria to End Crude Exports, Focus on Local Refining and Value Creation
The Chairman of the OPEC Board of Governors for 2025, Adeyemi-Bero, has called on Nigerian oil producers to stop the…
Senate uncovers $303bn crude oil diversion under NNPC’s DSDP scheme
A forensic review conducted by consultants to the Senate Ad-hoc Committee on oil theft has uncovered staggering financial irregularities amounting…
Nigeria’s Excess Crude Account Grows 13% in Two Years Under Tinubu’s Administration
Nigeria’s Excess Crude Account (ECA) has risen by 13 percent in the past two years, reflecting gradual fiscal recovery efforts…
NNPC Targets $60 Billion Partnerships to Power Africa’s Energy Transformation by 2030
The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled an ambitious plan to attract between $30 billion and $60…
NNPC Plans to Raise Stake in Dangote Refinery to 20% in Bold Energy Sector Move
The Nigerian National Petroleum Company Limited (NNPC) has announced plans to raise its equity stake in the $20 billion Dangote…
15% tariff: Nigerians to pay N1tn extra for petrol yearly
Nigerians may soon face higher fuel prices as the Federal Government introduces a 15% import tariff on Premium Motor Spirit…
Femi Otedola Applauds Tinubu’s 15% Petrol and Diesel Import Tariff to Boost Local Energy Sector
Billionaire businessman Femi Otedola has praised President Bola Tinubu’s recent move to impose a 15 per cent import tariff on…
Group urges Tinubu to halt fuel import licences
The Yoruba Council Worldwide (Igbimo Apapo Yoruba L’Agbaye) has urged President Bola Ahmed Tinubu to immediately halt the issuance of…
NLC Warns 15% Fuel Import Duty Could Trigger Petrol Price Manipulation in Nigeria
The Nigeria Labour Congress (NLC) has warned that the federal government’s newly approved 15 per cent import duty on petrol…
Fuel Import Duty: Marketers Warn 15% Levy Will Drive Petrol Prices Above ₦1,000 and Threaten Local Operations
Oil marketers across Nigeria have raised alarm over the Federal Government’s newly approved 15% import duty on petrol and diesel,…
CSOs Applaud Tinubu’s 15% Fuel Import Tariff as Step Toward Energy Independence
A coalition of civil society organisations under the banner of the Coalition of Civil Rights Activists has commended President Bola…
OPEC+ Pauses Oil Output Increases for Q1 2026 After December Hike
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) have announced plans to pause oil output increases during…
Transcorp CEO Owen Omogiafo Urges Faster Energy Access to Power Africa’s Economic Growth
The President and Group Chief Executive Officer of Transcorp Plc, Dr. Owen Omogiafo, has called for urgent action to improve…
Oando Suffers $450 Million Revenue Loss as Dangote Refinery Reshapes Nigeria’s Oil Market
Oando Plc, one of Africa’s largest integrated energy companies, has reported a significant $450 million decline in revenue, linking the…
Seplat Energy Reports N3.36 Trillion Revenue in 9 Months, Declares 7.5 US Cents Dividend
Seplat Energy PLC has posted impressive financial results for the nine months ended September 30, 2025, with revenues soaring to…
Presidency Defends 15% Fuel Import Tariff
The Nigerian Presidency has confirmed that President Bola Tinubu has approved a 15 per cent import tariff on petrol and…
Nigeria Launches National Carbon Market Framework to Unlock $3 Billion in Annual Climate Finance
President Bola Tinubu has approved the adoption of a National Carbon Market Framework (NCMF), alongside the operationalization of the Climate…
Bonny Light Holds at $66 as Market Eyes Trump-Xi Trade Breakthrough
Nigeria’s premium crude blend, Bonny Light, steadied at $66 per barrel on Wednesday, lifted by renewed optimism over trade talks…
Petrol Price May Rise to ₦1,163 as Tinubu’s New Tariff Targets ₦4.8 Trillion Revenue
Nigerians may soon pay as much as ₦1,163 per litre of petrol as the Federal Government introduces a new tariff…