The Federal Airports Authority of Nigeria (FAAN) has announced a total ban on all cash transactions at airports nationwide, effective February 28, 2026. The directive was contained in an internal memo signed by the Managing Director and Chief Executive, Mrs Olubunmi Kuku. This move is in compliance with the federal government’s mandate to transition all …
Despite sweeping reforms that ended Nigeria’s long-standing fuel subsidy regime, many citizens are yet to feel the full economic impact of the policy shift, an economist and energy expert, Kelvin Emmanuel, has said. Mr Emmanuel, who is the co-founder and CEO of Diary Hills, said even though the removal of the fuel subsidy was a …
In a historic shift for Nigeria's downstream oil sector, the Dangote Petroleum Refinery has overtaken importers to become the country's dominant supplier of petrol. In January, the refinery supplied nearly 62 per cent of Nigeria's Premium Motor Spirit (PMS), also known as petrol, significantly reducing the nation's long-standing reliance on imported fuel. The Fact Sheet released by …
Residents and business owners across the Federal Capital Territory, Abuja, and surrounding areas have expressed frustration as the Abuja Electricity Distribution Company (AEDC) has recorded multiple power outages since the start of the year 2026. The residents have been grappling with power supply disruption arising from grid collapses, technical faults and scheduled maintenance. Between January …
Kano Electricity Distribution Company (Kano DisCo) has called for urgent intervention of the Federal Government in the electricity supply challenges faced by northwestern states under its franchise due to limitations in power transmission from the Transmission Company of Nigeria (TCN) and the National Grid. In a statement, the Kano DisCo urged the Federal Government to …
The Nigeria National Petroleum Company Limited (NNPC) has declared that it generated ₦60.517 trillion in revenue and ₦5.76 trillion as profit after tax in 2025. The national oil firm made this known in the NNPC Limited Monthly Report Summary for December 2025, released on Thursday, February 12. According to the report, crude oil and condensate …
The Nigerian National Petroleum Company Limited (NNPCL) has alerted that there may be a drop in electricity generation across the country as Seplat Energy Plc, its joint venture partner, will shut down its gas production facilities for four days for routine maintenance. NNPCL said the shutdown, which will take place from 12th to 15th February …
Nigeria’s crude oil production rose to 1.459 million barrels per day in January 2026, up by 37,000 bpd when compared to December 2025 production of 1.422 million bpd. This is according to the Organisation of the Petroleum Exporting Countries’ (OPEC) February 2026 Monthly Oil Market Report (MOMR) released on Wednesday, February 11. While the output …
Billionaire businessman Femi Otedola has expressed optimism that with the Dangote Refinery operating at its full capacity of 650,000 barrels per day (bpd), the naira will trade below ₦1,000 per dollar before the end of 2026, reflecting the impact of the refinery's operations on Nigeria's foreign exchange market and the economy generally. Otedola stated this …
Nigeria’s long-standing quest for fuel self-sufficiency has received a significant boost as the Dangote Refinery successfully ramps up its Crude Distillation Unit (CDU) and Motor Spirit production block to a full capacity of 650,000 barrels per day (bpd). This followed a period of scheduled maintenance and technical stabilisation. The refinery made this known in a …
