Nigerian airlines have raised their minimum airfares to as high as ₦200,000 for one-way domestic tickets as the persistent hike in aviation fuel, also known as Jet A1, continues to affect operations. Routes such as Lagos–Abuja, Lagos–Port Harcourt, and Lagos–Enugu now commonly exceed ₦200,000 for one-way economy tickets on several carriers. The high cost of …
Dangote Petroleum Refinery and Petrochemicals is set to go to the capital market with its initial public offering (IPO) in September, driven by overwhelming investor demand. President of the Dangote Group, Aliko Dangote, who gave the confirmation on Wednesday, said investor demands have reached $2 billion for the planned private placement, reflecting massive market confidence …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stepped up its implementation of the Host Community Development Trust (HCDT) framework with the launch of a new digital portal designed to enhance transparency and accountability. The initiative, established under the Petroleum Industry Act (PIA) of 2021, was officially unveiled on Wednesday during a stakeholder …
Dangote Industries Limited has kicked off preliminary preparations for its proposed Deep Seaport at the Olokola Free Trade Zone in Ogun State. This major step forward follows successful engagements and endorsements from traditional rulers and host communities across Ogun and Ondo states, positioning the project to become a dominant maritime logistics hub in West Africa. …
In a strategic move to boost investor confidence and streamline operations across Nigeria’s energy sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have reaffirmed their commitment to a unified regulatory approach. The commitment was solidified during a high-level meeting at the NUPRC headquarters in Abuja, …
Lagos State has announced an ambitious plan to transform its electricity sector, aiming to deliver 24-hour power supply and achieve 100 per cent metering of customers. The goal is to end the recurring power blackouts and position Lagos as a leading subnational electricity market in Africa. Pinnacle Daily reports that following the enactment of the …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a warning that it will sanction any entity operating in the midstream and downstream oil and gas sectors without the required licences, permits, or authorisations. The regulator’s warning is contained in a public notice issued on Sunday, May 17. The notice said the NMDPRA's …
Households and small businesses across Nigeria are battling another round of hardship as the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, has surged to about ₦1,600 per kilogramme in many parts of the country. This sharp increase, representing a 23 per cent jump from the average rate of about ₦1,300/kg just …
Dangote Petroleum Refinery has reduced the ex-depot price of its aviation fuel, also known as Jet A1, to ₦1,650, down from ₦1,750 per litre, giving relief to airlines, passengers and Nigeria’s aviation sector generally. Other packages offered by the refinery include a 30-day interest-free credit facility for marketers and airline operators, backed by bank guarantees, and a shift …
Nigeria’s headline inflation rose to 15.69 per cent in April, up from the 15.38 per cent recorded in March. This was confirmed in the April 2026 Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday. This marks the second consecutive monthly increase, reversing the extended disinflationary trend seen over …
