Oil Prices Plunge to Four-Year Low as OPEC+ Fast-Tracks Output Hikes
Oil prices took a sharp dive on Monday, slumping to levels not seen since early 2021. Both Brent crude and…
Category: Energy
CBN reforms reshape external sector amid diaspora inflows
Nigeria’s external sector is going through a serious transformation, with the Central Bank’s foreign exchange reforms at the center of…
Tinubu approves plan to attract $122bn power investments
President Bola Tinubu has officially approved a bold new reform initiative for Nigeria’s power sector, signing off on the National…
Nigeria Faces Economic Crisis as Oil Prices Dip Below $60, Threatening Fiscal Stability and the Naira
Nigeria is facing a dual economic crisis as Brent crude oil prices plummet below $60 per barrel, sparking fears of…
Trade Tensions Shake Oil Market, Pressure Naira as Economic Worries Deepen
Global oil markets faced renewed turbulence in April as heightened trade tensions—particularly between the United States and China—sparked a sharp…
Petrol Landing Cost Surpasses Dangote Refinery Price, Fuel Importers Struggle with Profit Margins
The landing cost of Premium Motor Spirit (PMS), or petrol, has now reached an average of N870 per litre, surpassing…
NNPC Overhauls Leadership: Maryam Idrisu, Obioma Abangwu Appointed Amid Mass Staff Exit
The Nigerian National Petroleum Company (NNPC) Ltd has initiated a significant restructuring of its leadership, appointing Maryam Idrisu as the…
IMF Flags Ghana’s Energy Sector as Top Economic Risk, Urges Reform
The International Monetary Fund (IMF) has strongly backed Ghana’s Finance Minister’s warning that the country’s energy sector represents the biggest…
FCCPC asks Ibadan Disco to refund customers’ transformer investments
The Federal Competition and Consumer Protection Commission (FCCPC) has directed the Ibadan Electricity Distribution Company (IBEDC) to refund customers for…
Nigeria’s Carbon Market Policy Set to Unlock $2.5 Billion by 2030, Drive Green Investment Surge
President Bola Ahmed Tinubu has unveiled Nigeria’s newly finalised Carbon Market Activation Policy, projected to attract up to $2.5 billion…
IOCs Undermine Nigerian Refineries by Dodging Local Crude Supply Mandates
Despite legal obligations under Nigeria’s Petroleum Industry Act (PIA), international oil companies (IOCs) continue to bypass direct supply of crude…
CBEX: Oil & gas investors hit hard as fraud surpasses N2trn
The abrupt collapse of Crypto Bridge Exchange (CBEX), a digital investment platform exposed as a Ponzi scheme, has left thousands…
Petrol Prices May Drop to N800/Litre as Dangote Refinery Slashes Rates Amid Falling Crude Prices
Petrol prices in Nigeria could soon fall to around N800 per litre due to a combination of declining global crude…
Dangote Refinery Slashes Petrol Ex-Depot Price to N835 Amid Global Crude Dip
Dangote Petroleum Refinery has once again brought some relief to the downstream oil sector by cutting the ex-depot price of…
Nigerian Government Grants 47 Refinery Licenses to Boost Domestic Production and Energy Security
In a significant move to enhance Nigeria’s refining capacity and reduce reliance on imported petroleum products, the Federal Government has…
AEW 2025 Sets Stage for Africa’s $43bn Energy Boom, Focuses on Transition and Investment
The African Energy Week (AEW) has officially launched its 2025 conference, marking a pivotal moment in Africa’s energy future. Capital…
Lagos Partners with REA to Expand Renewable Energy Access and Bridge Power Gaps
In a decisive move to tackle Lagos State’s longstanding energy challenges, the Lagos State Government has signed a Memorandum of…
OPEC Lowers Oil Demand Forecast as US Tariffs Rattle Global Markets
OPEC has revised its global oil demand growth forecast for 2025, trimming it to 1.3 million barrels per day (bpd),…
Nigeria’s Oil Production Hits 2025 Low, Threatening Budget and Economic Stability
Nigeria’s oil production has dropped to its lowest level in 2025, raising concerns over the country’s economic outlook and ability…
FG Seeks Continued EU Support for Nigeria’s Power Sector Reform
The Nigerian government is calling for continued technical and financial support from the European Union (EU) to address the challenges…
Enugu issues 5MW power licence, boosts private sector participation in electricity market
Enugu State has issued a new 5MW power generation license to Tempo Power Solutions Ltd, authorizing the company to establish…
NNPC Pushes Forward with 72% Completion of AKK Pipeline, Reaffirms Commitment to Energy Transition
The Nigerian National Petroleum Company (NNPC) Limited has reported a 72% completion rate on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project,…
Dangote Refinery Reduces Ex-Deport Petrol Price from N880 to N865 per Litre
Dangote Petroleum Refinery and Petrochemicals has announced a reduction in its ex-gantry loading cost for petrol from N880 to N865…
Experts Urge Dialogue as Nigeria Braces for Impact of Trump’s 90-Day Tariff Pause
In the wake of U.S. President Donald Trump’s announcement of a 90-day pause on tariff hikes, experts are calling for…
FG Signs $328.8 Million Electricity Transmission Agreement with Chinese Firm
The Federal Government of Nigeria has signed a significant $328.8 million contract with China Machinery Engineering Corporation (CMEC) to rehabilitate…
Dangote Refinery begins global export of refined petroleum products
The Dangote Petroleum Refinery has officially kicked off global exports of refined petroleum products, marking a major milestone for Nigeria’s…
Crude Oil Plunges to $60 as China Strikes Back with Steep Tariffs
Crude oil prices plunged on Wednesday, with Brent falling to $60.46 per barrel, down from $63 the previous day, and…
FG Confirms Continuation of Crude and Refined Product Sales in Naira Initiative
The Federal Government has reaffirmed that the Crude and Refined Product Sales in Naira initiative is a permanent policy. The…
Presidential CNG Initiative to Launch 150 New Stations in 18 Months Amid Safety Efforts
The Presidential CNG Initiative (PCNGI) has announced plans to establish at least 150 new refueling stations across Nigeria within the…
FG to Receive First Batch of 3.2 Million Electricity Meters in April 2025
In a bid to address the significant metering gap in Nigeria’s electricity sector, the Federal Government has announced plans to…