The Nigerian Electricity Regulatory Commission (NERC) has raised the proportion of revenues that electricity Distribution Companies (DisCos) must channel into infrastructure upgrades. The move aims to accelerate network rehabilitation and improve electricity supply across the country. The directive is contained in a revised Order on the utilisation of earned Non-Administrative Operating Expenditure (Non-Admin OpEx), issued …
Dangote Petroleum Refinery has warned that a return of petrol subsidies or fuel price controls could squeeze its refining margins, disrupt demand and make revenue forecasting more difficult. The warning was contained in the refinery’s prospectus for its proposed initial public offering (IPO), released on Thursday, where the company identified uncertainty in government fuel-pricing policies …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) have signed a Memorandum of Understanding (MoU) to collaborate in promoting competition, transparency and consumer protection in Nigeria’s petroleum industry. According to a statement by the NMDPRA, the agreement signed in Abuja on Thursday, 10 September 2026, …
Nigerian motorists may face another round of petrol price hikes as international crude oil prices surge above $100 per barrel, amid deepening tensions in the Middle East. The sharp rise in global oil prices is putting renewed pressure on Nigeria’s downstream petroleum market, where petrol prices are increasingly influenced by crude acquisition costs, foreign exchange …
The Institute of Niger Delta Studies (INDS), Niger Delta University (NDU), Bayelsa State, is set to launch a partnership and investment prospectus and research endowment fund to strengthen scholarship and generate evidence-based solutions to the environmental, economic, social and cultural challenges confronting the Niger Delta. According to the event flyer, the unveiling, which is scheduled …
“We don't collect gas flare penalties, NUPRC does, says downstream regulator, requests review by Auditor-General The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has rejected findings in the Office of the Auditor-General of the Federation’s 2023/2024 Annual Report alleging under-remittance of gas flare penalty revenues to the Midstream and Downstream Gas Infrastructure Fund …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that companies awarded flare gas sites under the Nigerian Gas Flare Commercialisation Programme (NGFCP) risk losing their permits if they fail to make meaningful progress in developing the sites. The Commission Chief Executive, Mrs Oritsemeyiwa Eyesan, issued the warning on Tuesday in Abuja during a working …
Nigeria's power sector recorded a total revenue shortfall of ₦3.39 trillion in 2025, with tariff subsidies and commercial losses recorded by distribution companies (DisCos) accounting for a substantial share of the sector’s shortfalls. This massive deficit was dominated by Federal Government tariff subsidies and downstream retail losses (billing and collection inefficiencies), which collectively accounted for …
Pinnacle Daily Editor, Sunday Michael Ogwu, has been honoured with the Economic Journalist of the Year award by the Nigerian Economic Society (NES) for his contributions to business and economic journalism in Nigeria. The event, held on Monday night in Abuja by NES, was a special award and fellowship ceremony to honour excellence in economics, …
Nigeria plans to hold at least one oil licensing round every year, with the possibility of twice-yearly auctions, as the Federal Government steps up efforts to revive upstream activity and raise crude production to three million barrels per day by 2030. The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, …
