The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled a new mobile application designed to monitor fuel consumption patterns live across all retail outlets nationwide. The initiative kicked off as a pilot in Abuja and its six Area Councils on Saturday, August 1, 2026. As part of the initial rollout, Mr. Ogbugo Ukoha, …
Leaders and key stakeholders in Nigeria's oil and gas industry have called for deeper collaboration among operators, regulators, investors, and financiers to build a resilient energy sector capable of weathering global disruptions. The appeal came during the 49th Society of Petroleum Engineers (SPE) Nigeria Annual International Conference & Exhibition (NAICE) 2026, held in Lagos on …
The National Insurance Commission (NAICOM) has announced the successful completion of the 12-month insurance sector recapitalisation exercise undertaken in line with the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. In a statement released on Sunday, NAICOM said the successful completion of the recapitalisation exercise marks “a defining milestone in the transformation of Nigeria's insurance …
The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from …
The Authority says System malfunction caused smoke scare at the facility on Sunday morning The Federal Airports Authority of Nigeria (FAAN) has issued a clarification regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, stating that contrary to earlier reports, there was no fire at the facility. In a press statement released …
The Federal Airports Authority of Nigeria (FAAN) has confirmed a fire outbreak at Terminal 2 of the Murtala Muhammed International Airport, Lagos. In a statement posted on its official X handle on Sunday, August 2, FAAN assured the public that emergency responders are on top of the situation. It said that the incident triggered an …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the West Africa Regulators Forum (WARF) have intensified calls for the establishment of an African regional fuel pricing benchmark, arguing that the continent must end its over-reliance on foreign pricing indices that do not reflect local market realities. The call was made during a press …
Revenue rises by 12 per cent to N650.8 billion as the foods and beverage company sustains profitability for the seventh consecutive quarter Nestlé Nigeria PLC has reported strong financial results for the first half of 2026 (H1 2026), characterized by double-digit top-line revenue expansion, improved profitability, and a strengthened equity base. According to the …
The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of ₦535 billion for June 2026, a 15.8% increase from May's ₦462 billion. This figure is contained in the NNPC monthly financial and operations report for the month of June 2026. The figure marks the company's highest monthly profit in 10 months, driven …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a Gas Swap Framework in a bid to close Nigeria’s domestic gas supply gap. This comes as Nigeria's average Domestic Gas Delivery Obligation (DGDO) performance has risen to 2.05 billion cubic feet (Bcf) daily, year-to-date ending June 2026. The Commission Chief Executive of the Nigerian Upstream Petroleum …
