Africa remains a formidable force in the global energy market, anchoring international supply chains and national economies through crude oil production. As the world gradually pivots toward cleaner energy, the continent’s biggest oil producers are balancing rising transition pressure with the need to protect vital export earnings and jobs. Today, five African nations stand at …
The Nigerian government's approval of a 15 per cent import tax on petrol and diesel, primarily to protect local refineries, has, however, sparked significant concerns over higher fuel prices and increased economic hardship for citizens. A memo dated October 10, 2025, signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), addressed to …
The Dangote Refinery has expressed support for the recently approved 15 per cent tax on petrol and diesel imports into Nigeria. Pinnacle Daily reports that Tinubu had, in a letter dated October 21, 2025, and addressed to the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, directed immediate implementation of …
Nigerians may soon benefit from lower petrol and food prices as 22 ships carrying petroleum products, frozen fish, and other essential commodities berth at Lagos ports, the Nigerian Ports Authority (NPA) has revealed. The NPA’s latest Shipping Position report shows that the vessels are currently discharging cargo at Apapa, Tincan, and Lekki ports, signalling a …
The Major Energies Marketers Association of Nigeria (MEMAN) has called for massive investment in harnessing natural gas, stressing that it remains a critical transition fuel for Africa. MEMAN said natural gas, whether Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), or Compressed Natural Gas (CNG), provides a cleaner form of energy that supports industrialisation. MEMAN …
The tax credit to Oando Plc rose by 303 per cent to ₦181.85 billion in the third quarter of the year amid the company’s poor financial performance over the past years. A review of its financial statement for the nine months ended September 30, 2025, released on Thursday, October 30, revealed that the tax credit …
As emerging domestic refiners and dominant importers of petroleum products battle for market share, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned against monopolistic practices in the downstream oil sector, calling for fair access and open competition. PETROAN President, Dr Billy Gillis-Harry, made the call while presenting a paper titled “New …
Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reaffirmed the commitment of the company towards reviving the state-owned moribund refineries. Ojulari, the NNPCL management is determined to ensure that the refineries located in Port Harcourt, Warri, and Kaduna are fully rehabilitated and operate effectively. In a statement via …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigeria National Petroleum Company Limited (NNPCL) have pledged to continue taking practical steps towards overhauling downstream infrastructure to boost energy sector growth. The agencies made the pledge at the ongoing 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in Lagos. Delivering his …
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called for massive investments in the oil and gas sector to reduce Africa’s spending on hydrocarbon imports. The minister made the call during his keynote speech at the opening ceremony of the 2025 Oil Trading and Logistics (OTL) Africa Downstream Energy Week in …
