Rising global crude oil prices triggered by the escalating U.S.–Iran war are putting renewed pressure on domestic fuel prices in Nigeria, raising concerns about inflation and the cost of living across the country. Global oil benchmark has surged past the $100 per barrel mark for the first time in years as conflict in the Middle …
Dangote Refinery has halted loading of Premium Motor Spirit (PMS), also known as petrol, fueling speculations of a further increase in its ex-depot price of the product. Tanker drivers who had reportedly queued at the facility have been asked to leave the premises, as all operations are currently suspended. The fear comes from a similar …
Despite a steady installation of meters throughout 2025, not less than 5.2 million electricity customers across the country remain unmetered, leaving them subject to the controversial estimated billing system. This figure was revealed in the latest Metering Factsheet released recently by the Nigerian Electricity Regulatory Commission (NERC). This significant metering gap persists even as the …
Nigeria's electricity Distribution Companies (DisCos) generated a total revenue of ₦207.49 billion in December 2025. Despite the substantial income, the sector recorded a significant revenue shortfall of ₦51.17 billion. This is according to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). The revenue loss highlights persistent collection inefficiencies even as …
The Federal Airport Authority of Nigeria (FAAN) has adopted a hybrid toll system after President Bola Tinubu ordered temporal suspension of the cashless policy rollout. Minister of Aviation and Aerospace Development, Festus Keyamo, had announced that the President’s directive, given during the Federal Executive Council meeting on Wednesday, was prompted by the chaos that arose …
The Nigerian government has approved the creation of a new entity, the Grid Asset Management Company (GAMCO), to tackle the country's persistent power challenges. The move, proposed by President Bola Tinubu, aims to fix the longstanding challenges in the nation's electricity supply, especially the transmission segment. The approval for the company's establishment was granted during …
Qatar’s Energy Minister, Saad Al-Kaabi, has issued a stark warning that oil prices could hit $150 per barrel if the ongoing conflict in the Middle East continues to disrupt vital energy supplies. This warning comes after conflicts sparked by a joint military attack on Iran led by the U.S. and Israel escalated, spreading through the …
The Rural Electrification Agency (REA) has stated that the Nigerian government's $750 million renewable energy programme is expected to act as a catalyst, generating an additional $1.1 billion in private sector investment. The REA Managing Director, Abba Aliyu, said this initiative is a cornerstone of Nigeria's strategy to significantly expand electricity access through off-grid solutions. …
The refinery says Nigerian crude oil more expensive than Brent crude Dangote Petroleum Refinery has explained why it increased its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, by ₦100 recently. The refinery had earlier in the week, the refinery had raised its ex-depot price of petrol from ₦774 to ₦874 …
President Bola Tinubu, on Thursday, presided over a meeting that led to the resolution of a dispute between the Nigerian government, multinational oil giant ENI, and the Nigerian Agip Exploration Limited (NAEL) on the Prospecting Licence (OPL) 245. The resolution was sealed with a historic settlement agreement between the Federal Government, ENI, and Agip. According …
