In a major move set to solidify Nigeria's position as the industrial powerhouse of the continent, Dangote Industries Limited has signed a landmark $800 million agreement with Chinese engineering giant Sinoma International Engineering Co. Ltd. The deal aims to double the production capacity of the Dangote Cement plant in Itori, Ogun State, marking one of …
Sahara Upstream honors late executive with deployment of new vessel, cutting turnaround times and supporting production growth. In a major move to expand its marine logistics capacity, Sahara Upstream has deployed a new 380,000-barrel Medium Range (MR) crude oil tanker, the MT D Adesanya, to boost crude evacuation operations at Oil Mining Lease …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled a new mobile application designed to monitor fuel consumption patterns live across all retail outlets nationwide. The initiative kicked off as a pilot in Abuja and its six Area Councils on Saturday, August 1, 2026. As part of the initial rollout, Mr. Ogbugo Ukoha, …
Leaders and key stakeholders in Nigeria's oil and gas industry have called for deeper collaboration among operators, regulators, investors, and financiers to build a resilient energy sector capable of weathering global disruptions. The appeal came during the 49th Society of Petroleum Engineers (SPE) Nigeria Annual International Conference & Exhibition (NAICE) 2026, held in Lagos on …
The National Insurance Commission (NAICOM) has announced the successful completion of the 12-month insurance sector recapitalisation exercise undertaken in line with the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. In a statement released on Sunday, NAICOM said the successful completion of the recapitalisation exercise marks “a defining milestone in the transformation of Nigeria's insurance …
The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from …
The Authority says System malfunction caused smoke scare at the facility on Sunday morning The Federal Airports Authority of Nigeria (FAAN) has issued a clarification regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, stating that contrary to earlier reports, there was no fire at the facility. In a press statement released …
The Federal Airports Authority of Nigeria (FAAN) has confirmed a fire outbreak at Terminal 2 of the Murtala Muhammed International Airport, Lagos. In a statement posted on its official X handle on Sunday, August 2, FAAN assured the public that emergency responders are on top of the situation. It said that the incident triggered an …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the West Africa Regulators Forum (WARF) have intensified calls for the establishment of an African regional fuel pricing benchmark, arguing that the continent must end its over-reliance on foreign pricing indices that do not reflect local market realities. The call was made during a press …
Revenue rises by 12 per cent to N650.8 billion as the foods and beverage company sustains profitability for the seventh consecutive quarter Nestlé Nigeria PLC has reported strong financial results for the first half of 2026 (H1 2026), characterized by double-digit top-line revenue expansion, improved profitability, and a strengthened equity base. According to the …
