The House of Representatives Public Accounts Committee (PAC) has directed the Office of the Accountant-General of the Federation (OAGF) to submit a detailed report on outstanding operating surplus and other revenues allegedly owed to the Federal Government by the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company Limited (NNPCL) and other government agencies. …
While the world moves toward green energy in line with the energy Transition agenda, oil and gas resources remain vital to Africa’s development, says Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan. Mrs Eyesan highlighted the strategic role of hydrocarbons in Africa’s future, while pursuing just energy agenda. The NUPRC …
Between late 2025 and early 2026, the Nigerian petrol market has begun to gradually feel what seems like the effect of deregulation, with the rising competition among marketers triggered by the entry of Dangote Refinery. The 650,000 barrels per day refinery, which began operations in 2024, has significantly ramped up production, challenging the long-standing import-based …
As the key driver of economic development, Nigeria’s energy sector has, over the years, been influenced by events, policies and actions. Nigeria's energy sector in 2026 faces several significant events, all testing whether recent reforms can translate into tangible improvements in oil and gas production, power supply, and investments in other subsectors. The major issues …
Dangote Refinery has urged petrol station owners and dealers nationwide to register for its direct supply scheme and benefit from the current gantry price of ₦699 per litre. It said the offer is available to all petrol station owners and dealers nationwide. The $20 billion refinery had on December 12, announced a ₦129 reduction of …
President of the Dangote Group, Aliko Dangote, has said the pump price of premium motor spirit (PMS), also known as petrol, will come down to N740 per litre at filling stations across the country. Dangote, who spoke during a media briefing in Lagos on Sunday, said the new price will take effect on Tuesday, December …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has dismissed recent reports alleging that it is deliberately withholding the Frontier Exploration Fund (FEF) from the Nigerian National Petroleum Company Limited (NNPCL). Addressing the allegations, Eniola Akinkuotu, the Head of Media and Strategic Communication, in a statement on Monday, December 8, confirmed that the Commission has approved …
Dangote Petroleum Refinery and major oil marketers have set new lower prices for Premium Motor Spirit (PMS), commonly known as petrol, amid rising competition in the downstream market. Pinnacle Daily’s checks showed a slight drop in petrol prices at various depots by major importers and the Dangote Refinery. The price adjustment comes after a drop …
The Nigerian National Petroleum Company (NNPC) Limited has announced a fresh deadline of mid-2026 for selecting technical partners to manage the operations and maintenance of the country's state-owned refineries after their ongoing rehabilitation is completed. This move is a critical step in the long-delayed and costly effort to revive Nigeria's moribund refineries and achieve energy …
The Federal High Court in Abuja has dismissed the ₦100 billion suit filed by Dangote Petroleum Refinery and Petrochemicals FZE against the Nigerian National Petroleum Company Limited (NNPCL) and others over an oil import licence dispute. Justice Mohammed Umar gave the ruling on Wednesday after counsel for Dangote, Mr. C. O. Adegbe, formally withdrew the …
