Nigeria's oil and gas sector reforms have delivered 28 Field Development Plans with $18.2 billion worth of investment commitments in 2025 alone, says Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Komolafe said these commitments are also expected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet (TCF) …
Nigerian carrier, Aero Contractors, has embarked on a transformative journey to establish African self-reliance in aircraft maintenance through significant upgrades to its Maintenance, Repair, and Overhaul (MRO) facilities. Investing in the upgrade and expansion of the company’s MRO capabilities is considered by industry stakeholders as a strategic initiative that marks a pivotal shift from Africa's historical dependence on …
Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has said all it wants is a mutually-beneficial deal with the Dangote Refinery. DAPPMAN said its members are in support of the Dangote refinery but need better collaboration with the management of the refinery to serve Nigerians better in the supply of petroleum products. This comes …
The decision by OPEC+ to increase oil output by an additional 137,000 barrels per day (bpd) in October 2025 reflects a nuanced shift in global oil market management. For Nigeria, a member of OPEC, this move has significant implications for production and the economy. Pinnacle Daily reports that the group, which includes OPEC members plus …
Nigeria spent ₦4.13 trillion on the importation of Premium Motor Spirit (PMS), commonly known as petrol, in the first half of 2025. This is according to data released by the National Bureau of Statistics (NBS). According to the NBS data, Nigeria spent ₦1.76 trillion on the importation of Motor Spirit Ordinary (fuel) in the first …
Dangote Refinery has finally concluded plans to start its free fuel distribution scheme on Monday, 15 September 2025. This comes one month after the August 15 date, which was earlier planned to commence the scheme. Pinnacle Daily gathered that the inability of the company to commence in August was due to logistical challenges, which affected …
Nigeria's crude oil production fell to 1.434 million barrels per day (bpd) in August 2025, down by approximately 73,000 bpd from 1.507 million bpd in July. This represents a decline of 4.84 per cent and marks the lowest production level in six months. The August production figure fell below Nigeria's allocation of 1.5 million bpd by the Organisation of Petroleum Exporting Countries (OPEC), …
The National Union of Petroleum and Natural Gas Workers (NUPENG) has accused the Dangote Group of violating the agreement between the two parties brokered by the Federal Government on Tuesday. Pinnacle Daily had reported that NUPENG and Dangote Group signed a Memorandum of Understanding (MoU) allowing newly employed drivers of the Dangote refinery’s CNG trucks to …
The Nigerian Independent System Operator (NISO) has said Wednesday’s National grid collapse was caused by a system disturbance resulting from the tripping of a Generation company. Pinnacle Daily reported that the national grid collapsed on Wednesday, resulting in a significant loss of power supply from distribution companies across the country. From about 4,500 megawatts, data …
Nigerians have experienced another round of blackout in 2025 following the significant drop in power supply from the national grid. Pinnacle Daily reports that data published on the Nigerian System Operator’s portal (niggrid.org), revealed that power available for distribution has dropped to 120 megawatts (MW) as of 01:00 pm on Wednesday. This has affected electricity …
