The recent announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to suspend the implementation of 15 per cent import duty on refined petroleum products for six months has sparked mixed reactions among stakeholders, with experts and oil marketers holding divergent views on its potential impact. The NMDPRA had on Thursday, November 13, …
The Nigeria National Petroleum Company Limited (NNPCL) and some other marketers have reduced petrol prices below the price offered by the Dangote Petroleum Refinery partners in Lagos, sparking a new wave of competition in the downstream petroleum market. Checks by Pinnacle Daily in parts of Lagos on Sunday revealed price disparity between NNPCL retail stations, …
Former Minister of Special Duties, Kabir Tanimu Turaki, has been elected as national chairman of the Peoples Democratic Party (PDP). Turaki, a Senior Advocate of Nigeria (SAN), emerged as national chairman of the PDP at the party’s national convention held on Saturday, November 15 in Ibadan, the Oyo State capital. About 3,000 party delegates from …
Chief Executive Officer and co-founder, Bluechip Technologies Ltd, Mr Kazeem Tewogbade, has launched a memoir titled “Unlikely”, documenting his journey through the pathway to success. Tewogbade, who has made a significant footprint in Nigeria’s tech space, highlighted the role of the power of vision, purpose, dedication and resilience in business success. Speaking during the official …
Africa's richest man and foremost industrialist, Alhaji Aliko Dangote, has stated that the transformation of the continent's economy through industrialisation cannot be done by foreigners. He called on African investors to demonstrate an uncommon sense of patriotism by strategically investing in key sectors of the economies of African countries to drive industrial growth. He said foreigners …
The Nigerian government through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has announced suspension of the proposed 15 per cent duty on imported Premium Motor Spirit also known as petrol and Diesel. NMDPRA made this known in a statement released on Thursday, November 13, signed by its Director, Public Affairs Department, George Ene-Ita. …
A group known as the Peering Advocacy and Advancement Centre in Africa (PAACA) has called on the Nigerian government to delay the implementation of the 15 per cent tariff on import of petrol and diesel until local refineries reach the capacity to meet at least 80 per cent of national demand. The group, which made …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2025 Licensing Round will commence on December 1, 2025, calling on investors to take advantage of opportunities in the country’s oil and gas sector made possible by the reforms of the current administration. NUPRC Chief Executive, Engineer Gbenga Komolafe, made the announcement at the …
Despite efforts to close the metering gap in the Nigerian Electricity Supply Industry (NESI), not less than 5.38 million registered customers nationwide remain unmetered as at August 2025. This was revealed in the latest Metering Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). According to the fact sheet, the total number of active customers …
Nigeria's oil and gas revenue in 2024 fell significantly short of its budget target, showing a decline of 24.7 per cent against projected figures. The gross oil revenue for 2024 before deductions was $15.07 trillion against the $19.99 trillion budget target (a N4.93 trillion shortfall). This is according to data from the latest Budget Implementation Report …
