In a major move aimed at restarting Nigeria's deepwater energy sector, President Bola Tinubu has approved a reform package expected to unlock up to $50 billion in new deep offshore oil and gas investments. The reform, codified under the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, fundamentally shifts Nigeria's approach to …
Commission warns public against fake, AI-generated employment letters as fraudsters exploit job seekers The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has raised the alarm over a recruitment scam involving fake and artificial intelligence (AI)-generated employment letters being circulated in the name of the Commission. In a press statement issued on Tuesday by Eniola Akinkuotu, …
The Nigeria Civil Aviation Authority (NCAA) has appealed to striking aviation unions to suspend their industrial action, reassuring the traveling public that strict safety oversight remains intact across the nation's airports. The appeal comes amid ongoing disruptions to flight schedules, leaving hundreds of passengers stranded across key airports nationwide, including Lagos and Abuja. Aviation unions …
Dangote Refinery Absorbs 52.6 Million Barrels representing 78% of what was offered by crude producers. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released its second-quarter (Q2) 2026 report on the enforcement of the Domestic Crude Supply Obligation (DCSO), revealing an impressive 97.4% overall compliance rate as local refineries received 53.7 million barrels of …
The Nigerian Electricity Regulatory Commission (NERC) has issued an interim order dissolving the board of Kaduna Electricity Distribution Plc (KAEDC) effective August 10, 2026. In the Order with No: NERC/2026/086, the Commission said the decision was taken following what it described as a "severe financial insolvency" by KAEDC, which has accumulated over ₦118.6 billion …
Global crude oil prices have risen again as energy markets react to renewed uncertainty surrounding negotiations between the United States and Iran, putting hopes of reopening the Strait of Hormuz in limbo. Brent Crude, the international benchmark, rose to $85.02 per barrel, while West Texas Intermediate (WTI) hit $79.58 per barrel on Monday, August 10, …
Nigeria's top three cement producers—Dangote Cement, BUA Cement, and HBM Nigeria (formerly Lafarge Africa)—recorded a combined profit after tax (PAT) of approximately ₦1.16 trillion in the first half (H1) of 2026, marking a significant 40.36 per cent growth compared to the same period in 2025. This profit surge was driven by a combination of strong …
As the Federal Government moves to phase out electricity subsidies by 2027 and adopt fully cost-reflective tariffs, there are concerns about the potential impact on Nigerian consumers who are already grappling with rising cost of living. Recently, the Minister of Power, Joseph Tegbe, spoke at a media briefing in Lagos, where he announced that the …
In a major crackdown on infrastructure vandalism, the Lagos State Government has arrested 27 suspected hoodlums for allegedly removing critical structural components under the bridge linking Festac Town to Alakija along the Lagos-Badagry Transnational Highway. The bridge was said to have been constructed five years ago. According to a statement by the Commissioner for Environment …
The Nigerian Electricity Regulatory Commission (NERC), has organised a sensitisation workshop for the South East on addressing the persisting challenge of vandalism crippling the nation's power sector. The workshop, which was held in Umuahia, Abia State, on Tuesday, was done in collaboration with the German development agency (GIZ) through the Nigerian Energy Support Programme (NESP). …
