Dangote Refinery Absorbs 52.6 Million Barrels representing 78% of what was offered by crude producers. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released its second-quarter (Q2) 2026 report on the enforcement of the Domestic Crude Supply Obligation (DCSO), revealing an impressive 97.4% overall compliance rate as local refineries received 53.7 million barrels of …
The Nigerian Electricity Regulatory Commission (NERC) has issued an interim order dissolving the board of Kaduna Electricity Distribution Plc (KAEDC) effective August 10, 2026. In the Order with No: NERC/2026/086, the Commission said the decision was taken following what it described as a "severe financial insolvency" by KAEDC, which has accumulated over ₦118.6 billion …
Global crude oil prices have risen again as energy markets react to renewed uncertainty surrounding negotiations between the United States and Iran, putting hopes of reopening the Strait of Hormuz in limbo. Brent Crude, the international benchmark, rose to $85.02 per barrel, while West Texas Intermediate (WTI) hit $79.58 per barrel on Monday, August 10, …
Nigeria's top three cement producers—Dangote Cement, BUA Cement, and HBM Nigeria (formerly Lafarge Africa)—recorded a combined profit after tax (PAT) of approximately ₦1.16 trillion in the first half (H1) of 2026, marking a significant 40.36 per cent growth compared to the same period in 2025. This profit surge was driven by a combination of strong …
As the Federal Government moves to phase out electricity subsidies by 2027 and adopt fully cost-reflective tariffs, there are concerns about the potential impact on Nigerian consumers who are already grappling with rising cost of living. Recently, the Minister of Power, Joseph Tegbe, spoke at a media briefing in Lagos, where he announced that the …
In a major crackdown on infrastructure vandalism, the Lagos State Government has arrested 27 suspected hoodlums for allegedly removing critical structural components under the bridge linking Festac Town to Alakija along the Lagos-Badagry Transnational Highway. The bridge was said to have been constructed five years ago. According to a statement by the Commissioner for Environment …
The Nigerian Electricity Regulatory Commission (NERC), has organised a sensitisation workshop for the South East on addressing the persisting challenge of vandalism crippling the nation's power sector. The workshop, which was held in Umuahia, Abia State, on Tuesday, was done in collaboration with the German development agency (GIZ) through the Nigerian Energy Support Programme (NESP). …
Despite recording an increase in metering rate, over 5 million electricity customers remain unmetered across Nigeria. According to the latest metering status report released by the Nigerian Electricity Regulatory Commission (NERC), the total number of metered customers across all electricity distribution companies (DisCos) reached 7,435,733, accounting for 59.5% of 12,457,068 active customers as of April …
Nigeria is set to attract between $30 billion and $50 billion in investment from 22 major offshore oil and gas projects scheduled to launch between 2026 and 2030. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, stated this in Lagos on Wednesday, August 5, 2026, at the Society of Petroleum Engineers’ Nigeria Annual International Conference …
Nigerian electricity distribution companies (DisCos) recorded a significant revenue shortfall in May 2026. According to the latest Commercial Performance factsheet released by the Nigerian Electricity Regulatory Commission (NERC), the combined shortfall between what was billed and what was actually collected by DisCos amounted to ₦44.72 billion. This financial gap is the result of several operational …
