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 …
The Nigerian Content Development and Monitoring Board (NCDMB) has emphasised the need for stronger collaboration among oil and gas-producing countries in Africa in local content development to achieve energy sufficiency and sustainable growth. Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe made the call while delivering a keynote address titled “Africa’s Local Content Collaboration Strategy” …
The recurring cases of national grid collapse in Nigeria have highlighted the need for a reliable power source to meet electricity demands by households and businesses across the country. This quest has reignited calls for the development and integration of nuclear power into Nigeria’s energy mix as one potential solution to resolving longstanding electricity challenges. …
Dangote Petroleum Refinery has reduced the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol from ₦799 to ₦774 per litre, reflecting a ₦25 cut. The refinery made this known in a notice sent to marketers on Tuesday, February 10. According to the refinery management, the price adjustment takes immediate effect. Pinnacle …
Competition in Nigeria’s downstream petroleum sector has intensified once more following a drop in the landing cost of imported Premium Motor Spirit (PMS), commonly known as petrol, below the ex-depot price offered by the Dangote Petroleum Refinery. The Widening Price Gap According to the Major Energies Marketers Association of Nigeria (MEMAN) Competency Centre Energy Bulletin, …
The protracted electricity metering crisis in Nigeria has taken a fresh turn with an ongoing standoff between the Federal Government and Electricity Distribution Companies (DisCos). This friction over meter installation has left millions of unmetered consumers trapped in a cycle of "arbitrary" estimated billing. The $500 Million Metering Dispute At the heart of the dispute …
