For decades, Nigeria’s Bilateral Air Service Agreements (BASA) were designed to encourage reciprocal airline operations and boost connectivity between countries. However, many Nigerian airlines have struggled over the years to benefit from these agreements, while foreign carriers continue to dominate international routes in and out of the country. BASAs are agreements between one government and …
Rano Air has announced temporary suspension of flights on some of its routes due to the high cost of Jet A1 aviation fuel. In a statement released on Friday, via its X handle, the airline said the spike in aviation fuel in the last two months has significantly impacted its operations, making it commercially unsustainable …
For decades, Nigeria’s economy has largely revolved around crude oil revenues, leaving the country vulnerable to global oil price shocks, foreign exchange volatility, and rising unemployment. Despite its vast arable land, large population, and abundant natural resources, experts say the nation has yet to fully harness the potential of agriculture and other non-oil sectors to …
Moving beyond oil refining, petrochemicals, and fertilizer production, Africa’s richest man, Aliko Dangote, has revealed an ambitious plan to enter the electricity sector, targeting a power project capable of generating 20,000 Megawatts (MW). The African industrialist confirmed this new plan during an interview with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop. …
Dangote Petroleum Refinery and Petrochemicals Limited has debunked rumours of a hike in the price of Premium Motor Spirit (PMS), also known as petrol, saying its ex-depot price remains the same. The company made the clarification in a statement released on Wednesday, May 6, signed by the management. Rumours on social media claimed the price …
Aviation analyst Olumide Ohunayo has said the plans by Dangote Refinery to begin direct supply of aviation fuel, also known as Jet A1, to airlines in Nigeria will not work. He said this is because there are registered marketers with facilities around airports who are supposed to supply aviation fuel to the airlines. Ohunayo, who …
Nigeria’s electricity distribution companies (DisCos) recorded N45.61 billion as revenue losses in February 2026 due to collection inefficiencies. According to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC), 11 DisCos collected a total of N196.68 billion in revenue in February. The report indicates that the total energy billed to customers …
Domestic refineries in Nigeria recorded a crude oil supply shortfall of 33.4 million barrels in the first quarter (Q1) of 2026. According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday, May 5, a total of 61.9 million barrels of crude oil was allocated to domestic refineries during the quarter under …
The exit of the United Arab Emirates (UAE) from the Organisation of Petroleum Exporting Countries (OPEC) has raised concerns about its impact on global energy markets, especially for oil-dependent economies like Nigeria. While the UAE’s move is largely informed by its shift toward expanding production capacity and diversifying its economy, analysts say the implications could …
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant financial performance for March 2026, reporting a Profit After Tax (PAT) of ₦276 billion. The company also recorded an increase in oil and gas production within the period. According to the NNPC Limited Monthly Report Summary for March 2026 released on Monday, the national …
