The Nigerian government has concluded the evacuation of its citizens from South Africa, following a wave of anti-immigrant violence and threats against foreign nationals. An Air Peace aircraft carrying 308 Nigerian returnees arrived at the Murtala Muhammed International Airport, Lagos, on Wednesday morning. The flight, which departed Oliver Tambo International Airport, Johannesburg, at 6.30 am, …
crude oil The Strait of Hormuz is a critical maritime route for the movement of vessels, with about 20 percent of the world's oil and gas supplies passing through it daily. Brent crude, the international benchmark, jumped 9 percent from $78.38 on Monday, July 13, to settle at $85.45 per barrel on Wednesday, July 15, …
Dangote Petroleum Refinery has ended naira-denominated sales of its refined petroleum products, shifting to a new dollar-based pricing system for petrol, diesel, and aviation fuel. The move marks a significant change from the naira-for-crude arrangement that began in October 2024, shortly after the refinery commenced commercial operations. In a notice sent to marketers, the refinery …
Global oil prices have surged again, rising to $78 per barrel following the renewed tensions between the United States and Iran, leading to a declaration of the closure of the Strait of Hormuz by Tehran. The closure of the Strait of Hormuz, the world's most critical maritime chokepoint, has raised fears over disruptions to shipping …
Nigeria's crude oil production reached a six-year high in June 2026, surpassing its OPEC quota for the second consecutive month and signaling a strong recovery for the nation's oil sector. The upward trend is driven by improved operational stability and declining pipeline disruptions. Latest data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) indicated …
The Nigerian Union South Africa (NUSA) has commended the Federal Government for the successful repatriation of over 900 Nigerian citizens from South Africa in the ongoing xenophobic attacks on African migrants in that country. The group called for stronger diplomatic action to protect the lives and property of those who remain in the country. In …
The U.S. Trade and Development Agency (USTDA) has announced support for a new liquefied natural gas project in Nigeria aimed at expanding reliable energy access to industries and underserved communities in the country's northern region. Towards achieving that goal, the agency disclosed in a statement on Friday that it had signed an agreement with Nigerian energy …
Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has stated that the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, remains “stubbornly high” despite improved supply in the last one month. Pinnacle Daily reports that cooking gas is selling between ₦1,500 and ₦1,800 per kilogramme in Lagos, pushing a 12.5kg cylinder refill up …
After years of failed attempts to get Nigeria’s refineries working, the Nigerian National Petroleum Company Limited (NNPCL) recently signed a Memorandum of Understanding (MoU) with two Chinese firms to support comprehensive rehabilitation of the facilities. The move has been described as a major regulatory and strategic pivot in Nigeria’s downstream petroleum sector. The MoU was …
The Federal Government has successfully evacuated another batch of 282 Nigerians stranded in South Africa in the ongoing xenophobic attacks targeting foreign nationals. The fourth evacuation flight operated by Air Peace airline departed Oliver Tambo International Airport at 2.50 pm South African time. It arrived at the Murtala Muhammed International Airport, Lagos (Cargo terminal) at …
