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 …
The energy company plans to use proceeds for debt settlement and to pay shareholder dividends Seplat Energy has agreed to sell a 10% working interest in its joint venture assets with the Nigeria National Petroleum Company (NNPC) Limited for approximately $281.6 million. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd …
In a shift from traditional oversight, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared that the nation’s ambitious oil production targets will not be met through merely issuing regulations, but through active partnership with the industry players. At a three-day leadership retreat held at the Isimi Resort in Epe, Lagos, the NUPRC unveiled a …
Fresh data shows bringing petrol into Nigeria now costs more than buying from the local Dangote Refinery, strengthening calls to halt fuel imports The landing cost of imported Premium Motor Spirit (PMS), also known as petrol, has risen above the Dangote Refinery’s gantry price. This was shown in the latest Energy Bulletin released by the …
Supply chain disruption caused by the U.S.-Iran war exposed the fragility of Nigeria’s fuel reserve safety net The global oil market crisis triggered by escalating geopolitical tensions in the Middle East during the first half of 2026 has unleashed a fresh wave of economic hardship across Africa, with Nigeria emerging as the continent's hardest-hit …
