Despite a significant surge in revenue in Nigeria's power sector over the past two years, millions of citizens continue to endure erratic electricity supply, raising fresh concerns about the effectiveness of ongoing reforms and investments in the sector. Nigeria’s Minister of Power, Adebayo Adelabu, revealed that the sector’s revenue has more than doubled in the …
Nestlé Pure Life, a table water brand of Nestlé Nigeria, has been named the 2025 Product of the Year by LEADERSHIP Newspaper. A statement signed by Toju Egbebi, Corporate Affairs Manager, Nestél Nigeria, said the award recognizes products that have established the benchmark for performance, innovation, and influence in their category. The board of editors …
Africa's richest man, Aliko Dangote, has warned that Nigeria and the broader African continent will face severe economic consequences if the ongoing Middle East conflict continues to escalate. Speaking on Monday after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu at his Ikoyi residence in Lagos, Dangote cautioned that while Nigeria has no …
Air Peace has debunked reports claiming that the company, its Chairman, Allen Onyema, and Vice Chairman, Mrs. Alice Ojochide Onyema, are being sued by the Lagos State Government over tax evasion. In a statement released on Monday, March 23, Air Peace said neither the Onyemas nor the company has been served with any court summons …
The Dangote Petroleum Refinery has reached a major export milestone, shipping 456,000 tonnes of refined petroleum products to five African countries. This development follows the achievement of full production capacity of 650,000 barrels per day (bpd) in February by the refinery. Twelve cargoes of petroleum products were delivered to Côte d’Ivoire, Cameroon, Tanzania, Ghana, and …
Dangote Refinery has again raised its ex-depot price of fuel as crude oil surges above $110 per barrel in the international market. The continuous increase in prices signals more pressure in Nigeria’s fuel market. The 650,000 barrels per day refinery announced an increase in its ex-depot price of Premium Motor Spirit (PMS), also known as …
The ongoing escalation of the crisis in the Middle East, specifically the conflict involving the U.S., Israel, and Iran, has pushed Brent crude prices above $100 per barrel. While this exceeds Nigeria’s budget benchmark of $64.85 per barrel, several structural and economic factors suggest the country may not fully reap the rewards of this surge. …
As the crescent moon ushered in the 2026 Eid-el-Fitr celebration on Friday, March 20, millions of Nigerian Muslims gathered at prayer grounds across the country, but behind the vibrant displays of traditional Baban riga and Iro ati Buba, a sobering reality shadowed the festivities. There is a sharp resurgence in food prices that has left …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is conducting an investigation into the gas bubbling incident within the OML 18 area in Bille Community, Rivers State. It urged residents to remain calm and await the outcome of the findings. The Commission empathised with the community and acknowledged the concerns that the unfortunate development …
Major Energies Marketers Association of Nigeria (MEMAN) has highlighted a framework for ensuring fair pricing and a steady supply of fuel. The association’s recommendation focuses on maintaining a balance between local production and strategic imports, all underpinned by strong regulation and market-driven competition. Speaking at a quarterly webinar organised by MEMAN, the association’s Executive Secretary/CEO, …
