The Nigerian National Petroleum Company Limited (NNPC) has declared that the Federal Government's newly signed Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026 will serve as a catalyst for achieving Nigeria's ambitious production target of 3 million barrels of oil per day by 2030. The landmark reform, officially titled the Deep Offshore …
Geregu Power Plc has confirmed it has commenced discussions with relevant stakeholders and advisers to resolve concerns surrounding its N40.09 billion bond repayment obligations, following a default on its latest coupon and principal payments. The company defaulted on the eighth coupon payment and fourth bullet principal repayment of its N40.09 billion Series 1 Senior Unsecured …
Energy sector stakeholders have called for stronger financing, regulatory convergence, and active cross-border cooperation to establish a transparent regional petroleum pricing hub in West Africa. The call was made during the second edition of the West Africa Refined Fuel Market Conference hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in collaboration with …
Nigeria's total public debt stock has surged by 82.4% over a three-year period under President Bola Ahmed Tinubu’s administration. The country's public debt has become one of the defining economic policy issues that has persisted over time. According to the latest data released by the Debt Management Office (DMO), the national debt expanded from ₦87.38 …
Nigeria has maintained its oil production momentum for the third consecutive month, surpassing its Organization of Petroleum Exporting Countries, OPEC, quota despite a 4 per cent month-on-month decline in July 2026. Latest data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows that the country produced an average of 1.505 million barrels per day …
Air Peace, other domestic airlines count losses over cancelled flights, stranded passengers groan over missed appointments As aviation unions granted temporary suspension of their industrial action across major Nigerian airports allowing domestic airlines to resume operations, a fragile calm returned to the country's aviation sector. However, the incident has left airlines to grapple with financial …
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 …
