Despite recording a marginal increase in crude oil production in October, Nigeria has, however, failed to meet its OPEC production quota for the third consecutive month. Nigeria recorded 1.401 million barrels per day (bpd) in October, slightly up from 1.39 million bpd in September 2025. This is according to the Organisation of Petroleum Exporting Countries …
The Nigerian naira closed the week on a negative note as it further depreciated at the official foreign exchange market on Friday, November 21. The Central Bank of Nigeria (CBN) foreign exchange data indicated that the naira exchanged for N1,456.72 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Friday. This reflects a N4.59 …
The Forum of South-East Academic Doctors (FOSAD) has condemned the recent Federal High Court judgment sentencing leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu, to life imprisonment. The group in a statement signed by its president, Dr. Stephen Nwala and Secretary General, Dr Uzor Ngoladi, called for "immediate and unconditional release" of Kanu. …
In a strategic move to optimize their portfolios, French energy giant TotalEnergies and Nigeria's Conoil Producing have signed an asset swap agreement. The deal involves TotalEnergies acquiring Conoil’s 50 per cent stake in a promising deep-water oil block (OPL257) and in exchange, Conoil will acquire a 40 per cent participating interest held by TotalEnergies in block …
In a significant move to enforce passenger rights, the Nigeria Civil Aviation Authority (NCAA) has imposed a ₦5 million fine on Qatar Airways for allegedly violating the country's aviation regulations concerning the treatment of passengers. Michael Achimugu, Director of Public Affairs and Consumer Protection at the NCAA, made this known in a statement on Wednesday. …
Lawmakers in the Nigerian Senate have expressed grief as the senator representing Enugu North Senatorial District, Okey Ezea, has passed away. Ezea, who was elected on the platform of the Labour Party in the 2023 general election, reportedly died in the United Kingdom while receiving medical treatment for an undisclosed ailment. His death was formally …
Amid efforts to close the metering gap in Nigeria, new data has shown that over 68 per cent of electricity consumers bypass the use of prepaid meters. This indicates a systemic crisis in the Nigerian electricity supply industry as it reveals not just a revenue issue, but a symptom of deep-seated problems within the power …
The Dangote Refinery has stated that the recent drop in pump prices of Premium Motor Spirit (PMS), also known as petrol in Nigeria, by oil marketers was mainly driven by its reduction of gantry and coastal prices on November 6, not as a result of the suspension of the 15 per cent duty on imported …
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, …
