Chairman and Chief Executive Officer of Air Peace Limited, Dr Allen Onyema, has said the airline’s commencement of direct flight from Abuja to Heathrow in London has led to a crash in prices of tickets on the route from $13,000 to $3,000. This reflects a significant 76.92 per cent reduction in price. The Nigeria’s leading …
As Nigerian electricity Distribution Companies (DisCos) prepare to renew their operational licences in 2028, the federal government has announced plans to introduce a minimum capital adequacy requirement. Minister of Power, Adebayo Adelabu, who made this known at the Nigeria Energy Forum in Lagos, said the aim is to strengthen the financial health of DisCos and boost …
As emerging domestic refiners and dominant importers of petroleum products battle for market share, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned against monopolistic practices in the downstream oil sector, calling for fair access and open competition. PETROAN President, Dr Billy Gillis-Harry, made the call while presenting a paper titled “New …
Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reaffirmed the commitment of the company towards reviving the state-owned moribund refineries. Ojulari, the NNPCL management is determined to ensure that the refineries located in Port Harcourt, Warri, and Kaduna are fully rehabilitated and operate effectively. In a statement via …
Reactions have continued to trail the redeployment of sacked workers of Dangote Refinery to Borno, Zamfara, Benue, Ebonyi and other locations. The workers were sacked by the management of the Dangote Refinery during a dispute between the company and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) last month. PENGASSAN had embarked …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigeria National Petroleum Company Limited (NNPCL) have pledged to continue taking practical steps towards overhauling downstream infrastructure to boost energy sector growth. The agencies made the pledge at the ongoing 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in Lagos. Delivering his …
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for massive investments in the oil and gas sector to reduce Africa’s spending on hydrocarbon imports. The minister made the call during his keynote speech at the opening ceremony of the 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in …
In its quest to expand capacity, the Dangote Refinery located in Lagos has approached the African Export-Import Bank (Afreximbank), seeking a $5 billion loan to fund the project. New president of the bank, George Elombi, revealed this during his inaugural address at Afreximbank’s investiture ceremony in Cairo. Elombi, who stated that Aliko Dangote personally gave him …
The Nigerian Railway Corporation (NRC) has announced that it is set to resume operations of the Warri-Itakpe Train Service (WITS) on Wednesday, October 29, after a temporary suspension of train service on the route. It said the temporary suspension was to carry out critical repairs, maintenance, and system checks on the track and rolling stock …
The expansion of the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day will lead to a significant increase in polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum. The capacity expansion will make the refinery the largest refinery in the world upon completion, surpassing India’s …
