Nigeria Fuel Prices, Inflation Rise as Oil Nears $100+ Amid Strait of Hormuz Crisis
Nigeria’s economy is once again under pressure as global crude oil prices edge toward the $100-per-barrel mark following escalating geopolitical…
Category: Energy
Electricity Generation Rises to 4,300MW as FG Credits Gas Supply Boost and Sector Reforms
The Federal Government has announced an improvement in Nigeria’s electricity generation, which increased from 3,951 megawatts to 4,300 megawatts between…
NUPRC Unveils Digital Reforms to Boost Oil Production and Attract Investment in Nigeria
Nigeria’s upstream oil and gas sector is set for a major transformation as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)…
World Bank Fuel Import Recommendation Sparks Backlash in Nigeria as Expert Cites PIA Violation
An energy economist, Ken Ife, has strongly criticised the World Bank’s recommendation that Nigeria should deepen fuel imports and further…
Crude Oil Prices Jump 7% After U.S. Navy Strait of Hormuz Blockade Order Sparks Global Energy Shock
Global crude oil prices surged sharply on Monday, April 13, rising by more than 7% after the United States announced…
European Markets Fall as Middle East Tensions Spike, Travel Stocks Hit Hard
European markets began the week on a cautious note, slipping into negative territory as investors reacted to renewed geopolitical tensions…
Oil Shock Exposes Nigeria’s Import Trap as Local Tech Manufacturing Gains Urgency
Nigeria is once again feeling the ripple effects of global instability after crude oil prices surged above $100 per barrel…
Ghana to Cut Fuel Taxes and Levies to Ease Rising Pump Prices Amid Global Energy Crisis
Ghana has announced a major policy shift aimed at easing pressure on consumers, as the government moves to remove several…
Fuel Price Hike in Nigeria: TUC Proposes Crude Subsidy for Local Refineries to Ease Costs
The Trade Union Congress (TUC) of Nigeria has called on the federal government to intervene in the rising cost of…
NNPC Pushes AI Adoption, Targets $34bn Investment Pipeline to Cut Oil Production Costs
The Nigerian National Petroleum Company Limited (NNPC Ltd) has revealed a major push toward artificial intelligence (AI) and digital transformation…
PIA reforms drive over $10bn upstream oil investment in Nigeria – NUPRC
The implementation of the Petroleum Industry Act (PIA) and sweeping regulatory reforms have triggered a major boost in Nigeria’s energy…
Nigeria Oil Output Hits 1.84mbpd as Lawmakers Back Pipeline Surveillance Contracts
Nigeria’s crude oil production has climbed sharply to 1.84 million barrels per day (bpd) in 2025, marking a significant recovery…
NNPC Pushes AI Adoption to Boost Nigeria’s Oil Output to 3mbpd
The Nigerian National Petroleum Company Limited (NNPC) is accelerating the adoption of artificial intelligence (AI) in its upstream operations as…
Nigeria’s Crude Oil Output Hits 1.84 Million BPD as Pipeline Security Improves
Nigeria’s crude oil production has surged from a historic low of 960,000 barrels per day (bpd) in 2022 to an…
Strategic Partnerships Urged Between Host Communities and Oil Companies to Boost PIA Implementation
Stakeholders in Nigeria’s oil sector are advocating for stronger strategic partnerships between host communities, oil and gas companies, regulators, and…
African Development Bank Launches $20 Million Green Hydrogen Funding to Boost Africa’s Clean Energy
The African Development Bank (AfDB) has announced a $20 million funding initiative aimed at accelerating green hydrogen projects across Africa.…
Dangote Cuts Petrol Prices to N1,200 After Global Crude Oil Drop
In a surprising reversal, the Dangote Petroleum Refinery & Petrochemicals has cut the ex-gantry price of Premium Motor Spirit (petrol)…
World Bank Flags Fiscal Risks in Nigeria’s N4tn Power Sector Bond
The World Bank has raised concerns over Nigeria’s N4tn bond programme designed to settle long-standing debts owed to power-generating companies.…
Oil Prices Plunge 14% to $94 Amid US-Iran Ceasefire: Impact on Nigeria’s Bonny Light
Nigeria’s Bonny Light crude has tumbled by 14.2%, falling to $94.41 per barrel from $110 per barrel, following the announcement…
Petrol Price Drop Expected in Nigeria as Global Oil Prices Crash 15%
Nigerian motorists may finally get some relief at the pumps as global crude oil prices recorded a sharp decline, raising…
Oil Shock to Drive Nigeria Inflation Up by 3.1 Points, Warns World Bank
Nigeria faces a rising inflation threat as global oil prices surge, the World Bank has warned. In its latest Nigeria…
Africa Must Fast-Track Renewable Energy as Global Capacity Hits Record
Global renewable energy capacity reached an all-time high in 2025, surging to 5,149 gigawatts (GW) with the addition of 692…
Dangote Refinery Hikes Petrol to N1,275, Diesel Hits N1,950 Amid Global Oil Volatility
Nigeria’s Dangote Petroleum Refinery has raised the gantry price of petrol and diesel, with petrol now costing N1,275 per litre…
Nigerian Oil Prices Drop Below $95 as US-Iran Ceasefire Opens Strait of Hormuz
Nigerian oil prices tumbled below $95 per barrel on Wednesday following news that Iran agreed to a temporary ceasefire with…
NNPC Launches Cawthorne Crude Exports with 950,000-Barrel Maiden Shipment
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially begun exporting its latest crude grade, Cawthorne, with an initial…
World Bank Urges Nigeria to Resume Petrol Imports Amid Rising Fuel Prices
Nigeria may need to reopen its doors to petrol imports as rising global energy costs and supply constraints continue to…
Nigeria Excluded from OPEC+ Crude Oil Production Hike Amid Global Market Adjustments
Nigeria has once again been excluded from the latest crude oil production increase by the Organisation of Petroleum Exporting Countries…
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…
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…