Nigeria’s upstream oil and gas sector has recorded a significant investment boost, with the country’s share of African upstream Final Investment Decisions (FIDs) rising from just 4 per cent before 2023 to approximately 40 per cent across 2024 and 2025, according to the Special Adviser to the President on Energy, Mrs. Olu Arowolo Verheijen. Speaking…
By Olakunle oke Fresh industry data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has shown a significant increase in domestic refining activities in May 2026, accompanied by a sharp decline in fuel imports and national consumption of petroleum products. According to the agency’s Midstream and Downstream Statistics for May 2026, the country’s…
By Seun Ibiyemi The NNPC Limited has renewed its partnership with TotalEnergies to extend the deployment of the Airborne Ultralight Spectrometer for Environmental Applications (AUSEA) technology for methane detection, measurement, and reduction across its upstream operations for another 24 months. The agreement is aimed at supporting NNPC Ltd’s efforts to meet its gas flare reduction…
The Economic Community of West African States (ECOWAS) has set a target of increasing the share of renewable energy in the region’s electricity mix to 48 per cent by 2030 as part of efforts to achieve universal access to affordable, reliable and sustainable electricity across West Africa. The commitment was reaffirmed by the Director of…
By Seun Ibiyemi Energy expert, Nick Agule has blamed Nigeria’s persistent electricity challenges on what he described as “incompetent operators” in the power sector, following the cancellation of a $717.7 million World Bank financing package meant to support reforms in the industry. Speaking on a Arise television programme, Agule said the withdrawal of the undisbursed…
By Olakunle Oke Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N75 per litre following a sharp decline in global crude oil prices amid easing geopolitical tensions in the Middle East. In a circular issued to marketers, the refinery announced that the ex-gantry price of…
By Olakunle oke The Minister of Power, Joseph Tegbe, has called on local and international investors to embrace sustainable financing models to accelerate the electrification of healthcare facilities across Nigeria. Tegbe made the appeal at the National Healthcare Electrification Investor Matchmaking Forum held in Lagos under the Nigeria Power for Health Initiative (NPHI), according to…
By Seun Ibiyemi Energy expert, Nick Agule, has described the newly signed Benue State Electricity Act as a transformative development that could reshape the state’s power sector by enabling an independent electricity market and attracting private sector investment. Agule, in an analysis of the legislation, said the law gives Benue State the authority to establish…
By Seun Ibiyemi Nigeria’s natural gas production increased to 7.93 billion cubic feet per day (bcf/d) in May 2026, representing a 0.63 per cent year-on-year growth compared to the 7.88bcf/d recorded in the corresponding period of 2025. The latest production figures indicate continued resilience in the country’s gas sector, despite a marginal month-on-month decline of…
Expectations of a diplomatic breakthrough between the United States and Iran have sparked optimism over a possible reduction in fuel prices in Nigeria, with indications that the Dangote Refinery may lower its ex-gantry prices for petrol and diesel if the recent decline in global crude oil prices is sustained. The positive outlook follows reports of…
