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 …
Dangote Petroleum Refinery & Petrochemicals has said it is ready to supply 1.5 billion litres of Premium Motor Spirit (PMS), also known as petrol, per month to the Nigerian market in December 2025 and January 2026. This translates to 50 million litres per day. The refinery also said it will increase PMS supply to 1.7 …
The Nigerian National Petroleum Company (NNPC) Limited has reported a revenue of N5.078 trillion and a profit after tax of N447 billion in October 2025. This was revealed in NNPC Limited’s Monthly Report Summary for October 2025, released on Saturday. The total revenue for October reveals an 18.92 per cent increase from 4.27 trillion recorded …
Nigeria’s daily petrol consumption rose to an average of 56.74 million litres in October 2025, according to a report released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This reflects a 19.4 per cent year-on-year increase compared with the average daily consumption of 47.5 million litres in October 2024. The NMDPRA Fact Sheet, …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has identified 50 oil blocks that will be offered to interested investors during the 2025 petroleum licensing round. The Commission had earlier announced that the 2025 petroleum licensing round would take effect from December 1, 2025. It also clarified that the exercise, which is being conducted …
Resurrection Praise Ministries International (RPM), popularly known as Jehovah Sharp Sharp, is set to hold a five-day spiritually charged convention at its global headquarters in Satellite Town, Lagos. The event, led by the ministry’s founder, His Eminence, Archbishop Samson Mustapha Benjamin, also known as The African Major Prophet, will run from 3rd to 7th December …
