The Nigerian National Petroleum Company Limited (NNPC) has stated that its crude oil trading has risen to a five-year high of 1.71 million barrels per day (mbd) within the last one year under the watch of its Group Chief Executive, Bayo Ojulari. This is contained in NNPC’s newly released One-Year Mandate Report covering April 2025 to …
Industry analysts and domestic airline operators have called on the Nigerian government to address the root cause of the aviation fuel price hike to bring relief to operators who have continued to absorb the soaring costs. They argued that while the approval of a 30 per cent discount on outstanding debts owed by domestic …
The Nigeria National Petroleum Company Limited (NNPC) has debunked information currently circulating, which claims that the Company is selling scrap materials, and equipment from its refineries to individuals and private companies. In a statement signed by the NNPC Chief Corporate Communications Officer, Andy Odeh, the national oil firm described the information as “misleading and false”, …
Africa’s leading industrialist, Aliko Dangote, has reiterated his position that true industrialisation of the continent can only be achieved by African investors leading the charge, not foreigners. Dangote argued that the continent must reduce its dependence on foreign investors to achieve sustainable economic growth. Speaking during a presidential panel session at an infrastructure summit in …
As global crude oil prices surge above $100 per barrel following the blockade of the Strait of Hormuz, Nigerian households and businesses are bracing for a prolonged period of economic pain. The Strait of Hormuz, a critical maritime route through which about 20 per cent of the world’s oil and gas supply passes daily, has …
Africa’s richest man, Aliko Dangote, has revealed plans to construct a new 650,000-barrel-per-day (bpd) oil refinery in East Africa, a project that could reshape the region’s energy landscape and challenge the dominance of European and Middle Eastern fuel imports. Dangote made this known on Thursday while speaking during a presidential panel at the “Africa We …
The Lagos State Government is facing a wave of public backlash following its confirmation of mandatory permit fees for residential estates seeking to install solar energy systems. Critics of the policy described it as a “tax on sunlight” and a major setback to renewable energy adoption in Africa’s largest city. The public outrage emanated after …
President Bola Tinubu has approved significant interventions in the Nigerian aviation sector to prevent the imminent shutdown of operations by domestic airlines over the high cost of fuel. Speaking after a high-level emergency stakeholders’ meeting on Wednesday, Minister of Aviation and Aerospace Development, Festus Keyamo, said President Tinubu approved debt relief and a tax review …
Minister of Power Adebayo Adelabu has officially resigned his position to run for governor of Oyo State in 2027. In a letter dated April 22, 2026, and addressed to President Bola Tinubu and routed through the Secretary to the Government of the Federation (SGF), Adelabu stated that his resignation takes effect on April 30, 2026. …
Dangote Group has achieved its first oil from its upstream assets in the Niger Delta, marking its entry into crude production. The company is currently producing 4,500 barrels per day (bpd) from the Kalaekule field on Oil Mining Lease (OML) 72. Vice President of Dangote Group's Oil and Gas Division, Devakumar Edwin, disclosed …
