Nigeria's formal admission as an Association Country with the International Energy Agency (IEA) is a significant milestone, marking a pivotal shift in the country's position within global energy markets. Vice President Kashim Shettima highlighted this during the recent signing of an agreement between Nigeria and the IEA for a Joint Work Programme to strengthen strategic …
Nigeria’s crude oil and condensate production rose marginally to 1.68 million barrels per day (mbpd) in August 2026, as improved operations at key assets helped the country sustain its recent production gains. According to a statement signed by the spokesperson of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, the August output of 1,677,777 …
Nigeria’s crude oil production fell by 5,000 barrels per day (bpd) to 1.50 million bpd in August 2026, according to the latest data from the Organisation of the Petroleum Exporting Countries (OPEC). The figure, contained in OPEC’s September 2026 Monthly Oil Market Report, showed that output declined from 1.505 million bpd in July, marking the …
Foremost economist and Chief Executive Officer of Financial Derivatives Company (FDC) Limited, Mr Bismarck Rewane, has urged Nigerians to invest in the Dangote Refinery, stating that investment would offer more value in the long run than selling their Permanent Voter Cards (PVCs) during elections for quick financial gain. Pinnacle Daily had reported that Dangote Refinery …
The Nigerian Electricity Regulatory Commission (NERC) has raised the proportion of revenues that electricity Distribution Companies (DisCos) must channel into infrastructure upgrades. The move aims to accelerate network rehabilitation and improve electricity supply across the country. The directive is contained in a revised Order on the utilisation of earned Non-Administrative Operating Expenditure (Non-Admin OpEx), issued …
Dangote Petroleum Refinery has warned that a return of petrol subsidies or fuel price controls could squeeze its refining margins, disrupt demand and make revenue forecasting more difficult. The warning was contained in the refinery’s prospectus for its proposed initial public offering (IPO), released on Thursday, where the company identified uncertainty in government fuel-pricing policies …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) have signed a Memorandum of Understanding (MoU) to collaborate in promoting competition, transparency and consumer protection in Nigeria’s petroleum industry. According to a statement by the NMDPRA, the agreement signed in Abuja on Thursday, 10 September 2026, …
Nigerian motorists may face another round of petrol price hikes as international crude oil prices surge above $100 per barrel, amid deepening tensions in the Middle East. The sharp rise in global oil prices is putting renewed pressure on Nigeria’s downstream petroleum market, where petrol prices are increasingly influenced by crude acquisition costs, foreign exchange …
The Institute of Niger Delta Studies (INDS), Niger Delta University (NDU), Bayelsa State, is set to launch a partnership and investment prospectus and research endowment fund to strengthen scholarship and generate evidence-based solutions to the environmental, economic, social and cultural challenges confronting the Niger Delta. According to the event flyer, the unveiling, which is scheduled …
“We don't collect gas flare penalties, NUPRC does, says downstream regulator, requests review by Auditor-General The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has rejected findings in the Office of the Auditor-General of the Federation’s 2023/2024 Annual Report alleging under-remittance of gas flare penalty revenues to the Midstream and Downstream Gas Infrastructure Fund …
