Nigeria’s Gross Domestic Product (GDP) reached a four-year high growth in the second quarter (April-June) of 2025, indicating the strongest economic growth since mid-2021. This growth was primarily driven by performance in the oil and gas industry, which has traditionally been the backbone of the Nigerian economy. The latest GDP report released by the National …
Billionaire businessman, Femi Otedola, has waded into the controversy between Dangote Group and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). Otedola, who is the chairman of Geregu Power Plc, commended the Chairman of the Dangote Group, Alhaji Aliko Dangote, for the success achieved so far since the Dangote Refinery commenced operations. In …
Nigeria and seven other African countries have signed a landmark charter establishing the African Petroleum Regulators Forum (AFRIPERF), a new platform designed to harmonize petroleum regulations and promote investment across the continent. The signing ceremony took place on Thursday on the sidelines of the 31st Africa Oil Week in Accra, Ghana. It was chaired by …
Dangote Refinery has suspended direct sales of petroleum products to marketers from its gantry with effect from Thursday, September 18. This was disclosed in an email signed by the company’s Group Commercial Operations Department, sent to marketing partners on Friday. The latest move means marketers can no longer pick up products directly from the refinery's …
The management of Dangote Refinery has challenged the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and any other party dissatisfied with its recent publication on fuel subsidy claims by marketers to seek redress through the appropriate legal channels, rather than resorting to ultimatums. The refinery's management, in a statement on Wednesday, September 17, said …
Nigeria's oil and gas sector reforms have delivered 28 Field Development Plans with $18.2 billion worth of investment commitments in 2025 alone, says Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Komolafe said these commitments are also expected to unlock 1.4 billion barrels of oil and 5.4 trillion cubic feet (TCF) …
Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has said all it wants is a mutually-beneficial deal with the Dangote Refinery. DAPPMAN said its members are in support of the Dangote refinery but need better collaboration with the management of the refinery to serve Nigerians better in the supply of petroleum products. This comes …
The decision by OPEC+ to increase oil output by an additional 137,000 barrels per day (bpd) in October 2025 reflects a nuanced shift in global oil market management. For Nigeria, a member of OPEC, this move has significant implications for production and the economy. Pinnacle Daily reports that the group, which includes OPEC members plus …
Nigeria spent ₦4.13 trillion on the importation of Premium Motor Spirit (PMS), commonly known as petrol, in the first half of 2025. This is according to data released by the National Bureau of Statistics (NBS). According to the NBS data, Nigeria spent ₦1.76 trillion on the importation of Motor Spirit Ordinary (fuel) in the first …
Dangote Refinery has finally concluded plans to start its free fuel distribution scheme on Monday, 15 September 2025. This comes one month after the August 15 date, which was earlier planned to commence the scheme. Pinnacle Daily gathered that the inability of the company to commence in August was due to logistical challenges, which affected …
