Nigeria's non-oil export sector achieved a historic milestone in 2025, reaching a record $6.1 billion in earnings. This represents an 11.5 per cent increase from the $5.46 billion recorded in 2024, marking the highest value since the Nigerian Export Promotion Council (NEPC) was established nearly 50 years ago. This was revealed on Monday in Abuja …
Between late 2025 and early 2026, the Nigerian petrol market has begun to gradually feel what seems like the effect of deregulation, with the rising competition among marketers triggered by the entry of Dangote Refinery. The 650,000 barrels per day refinery, which began operations in 2024, has significantly ramped up production, challenging the long-standing import-based …
Indigenous oil and gas company, Seplat Energy, has called on operators in Nigeria’s oil and gas industry to show a serious commitment to environmental sustainability through their activities. The company’s Chief Executive Officer, Mr. Roger Brown, who observed that oil and gas will continue to play a pivotal role in Nigeria’s energy mix, stressed that …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has paid tribute to the late former president of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Uche Marcus Okoro, hailing his leadership qualities and dedication to the plight of Nigerian oil workers. Comrade Okoro was one of the passengers who died in the …
Nigeria’s oil production (including crude oil and condensate) dropped to 1.544 million barrels per day (bpd) in December from 1.599 million bpd in November. This reflects a 3.44 per cent decline on a month-on-month basis. This was revealed in the latest Crude Oil and Condensate data 2025 released by the Nigerian Upstream Petroleum Regulatory Commission …
The average daily consumption of Premium Motor Spirit (PMS), also known as petrol, rose by 20.42 per cent month-on-month from 52.9 million litres per day in November to 63.7 million litres per day in December 2025. On a year-on-year basis, it reflected a 21.8 per cent surge from 52.3 million litres per day recorded in …
In a bid to sustain daily delivery of 50 million litres of Premium Motor Spirit, also known as petrol, across Nigeria, Dangote Refinery has begun 24-hour loading operations. This shift is part of the refinery’s efforts to eliminate the long-standing issue of fuel scarcity in Nigeria by ensuring that the facility's optimal production levels are …
Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said the Federal Government will enforce the “Drip or Drop” principle enshrined in the Petroleum Industry Act (PIA) to ensure the timely utilisation of oil and gas assets by licensed operators. Lokpobiri stated this during the pre-bid conference for the 2025 licensing round held …
Nigeria and the United Arab Emirates (UAE) signed the Comprehensive Economic Partnership Agreement (CEPA) on Tuesday, January 13, 2026, strengthening their economic ties. This historic agreement represents a substantial departure from past diplomatic hitches to a future of deep economic cooperation. A statement from the State House said the bilateral agreement will remove trade barriers, …
President Bola Tinubu has stated that the Comprehensive Economic Partnership Agreement (CEPA) Nigeria signed with the United Arab Emirates (UAE) is a historic one that will deepen cooperation in the areas of aviation, agriculture, climate-smart infrastructure, logistics and digital trade, creating enduring opportunities for the people of the two countries. Tinubu stated this while speaking …
