The Nigerian National Petroleum Company Limited (NNPC) recorded an upsurge in revenue in April 2026 just as it witnessed a significant recovery in upstream production. The NNPC monthly report for April 2026, released on Saturday, indicates that its revenue rose by 79 per cent to ₦4.971 trillion in April from ₦2.774 trillion recorded in March. …
The Dangote Petroleum Refinery has further reduced the gantry price of its premium motor spirit (petrol) from ₦1,275 to ₦1,250 per litre, bringing relief to Nigerian consumers. This latest adjustment, which represents a 25 per litre price cut, takes effect Saturday, May 30, 2026, according to a report by Petroleumprice.ng, quoting a refinery source. The …
The average retail price paid by consumers for Premium Motor Spirit (PMS), also known as petrol, rose to ₦1,532.93 in April 2026. Year-on-year, this indicates a 23.69 per cent increase compared to the ₦1,239.33 recorded in April 2025. Also, the average price reflects an 18.97 per cent increase from ₦1,288.54 in March 2026. According to …
In a major shift for global energy trade, the Dangote Petroleum Refinery emerged as the world's single largest exporter of jet fuel in April 2026. This was revealed in a recent S&P Global Energy report. According to the S&P Global Commodities at Sea data, the facility was able to surpass all other global exporters by …
The African Development Bank (AfDB) and the Nigerian government have signed a letter of intent (LOI) to operationalise the Integrated Aviation Transformation Programme (IATP) for Africa. The $7 billion continent-wide initiative aims to modernise Africa's aviation ecosystem and mobilise capital for the sector. In a letter dated May 26, 2026, AfDB had confirmed the appointment …
The African Development Bank (AfDB) has appointed Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, as the African Champion to drive its new continent-wide aviation initiative, the Integrated Aviation Transformation Programme for Africa (IATP). According to a statement issued by Tunde Moshood, Special Adviser on Media and Communications to the minister, the bank cited …
The Nigeria Civil Aviation Authority (NCAA) has announced that it has temporarily suspended its earlier decision to halt services to 11 airlines over outstanding debts. Pinnacle Daily reports that the NCAA had, in an internal memo dated May 22, directed the placement of 11 domestic airlines on a “No-Pay-No-Service” list. The directive required all NCAA …
Nigeria has continued to record shortfalls in crude oil production output, reaching 31.6 million barrels in the first four months of 2026, according to a Pinnacle Daily analysis of data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Production Below Budget Targets The NUPRC data revealed a persistent gap between projected and actual oil …
Nigeria’s downstream petroleum sector has again come into the spotlight following the legal action instituted by Dangote Petroleum Refinery against the issuance of fuel import licences and the mixed reactions it has generated among marketers. The development has sparked intense debate across the energy sector, with stakeholders sharply divided over its implications for competition, local …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has raised the alarm over fraudulent social media accounts impersonating its Chief Executive, Mrs. Oritsemeyiwa Eyesan. The Commission, in a statement issued on Thursday, May 21, by the Head, Corporate Communications and Media, Eniola Akinkuotu, said there are currently 15 such fake accounts across social media platforms (X, …
