The Economic Community of West African States (ECOWAS) has strongly condemned the attempted military coup in the Benin Republic, describing it as a “subversion of the will of the people of Benin.” In a statement released on Sunday by the ECOWAS Commission, the regional group commended the West African nation’s army for responding swiftly and …
The government of the Federal Republic of Benin said on Sunday that the attempted coup by a group of soldiers had been thwarted. A group of soldiers, led by Lt-Col Pascal Tigri, had appeared on state television and announced that they had removed President Patrice Talon from office and suspended the constitution. The country’s interior …
Chevron Nigeria has expressed its intention to participate in the 2025 petroleum licensing round, hailing the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its activities aimed at boosting the oil and gas business in the country. The Chairman and Managing Director of Chevron Nigeria/Mid-Africa Business Unit, Jim Swartz, gave the commendation when he visited the …
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled steps for participation in the 2025 Petroleum licensing round. The Commission formally launched the 2025 licensing round on Monday, December 1, 2025, with the official unveiling of its licensing portal. It says activities lined up for the licensing round will come in phases. In a video …
President of Dangote Group, Alhaji Aliko Dangote, has once again restated his call on African entrepreneurs to think of bringing their investments home. Dangote, who spoke at the Imo State Economic Summit 2025 on Thursday, argued that domestic investments attract foreign investments. “One advice that I have is that most of our own entrepreneurs please …
Dangote Petroleum Refinery and major oil marketers have set new lower prices for Premium Motor Spirit (PMS), commonly known as petrol, amid rising competition in the downstream market. Pinnacle Daily’s checks showed a slight drop in petrol prices at various depots by major importers and the Dangote Refinery. The price adjustment comes after a drop …
The African Petroleum Regulators Forum (AFRIPERF) has adopted Nigeria as its official headquarters. The Forum also elected Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as the chairman. Before the ratification of the appointment, Komolafe had served as interim chairman of AFRIPERF. According to a statement by NUPRC on Wednesday, the …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) emerged as the highest among agencies in revenue remittances into the federation account in October 2025. According to data obtained from the Federation Accounts Allocation Committee (FAAC), out of a total of N2.93 trillion revenue remitted by seven agencies, NUPRC remitted N873.11 billion. This represents 29.8 per cent …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2025 licensing Round, with a target of attracting up to $10 billion in investments. The Commission has officially opened the 2025 licensing Round Portal - http://br2025.nuprc.gov.ng for entries by potential investors. Pinnacle Daily had reported that the upstream regulator announced plans to commence the …
Nigeria is to keep its 1.5 million barrels per day oil production as the Organisation of Petroleum Exporting Countries (OPEC) has decided to maintain current crude output levels for member countries until March 2026. The oil producers group took the decision during the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, November 30, where …
