By Seun Ibiyemi The Major Energy Marketers Association of Nigeria (MEMAN) has explained why petrol prices in Nigeria tend to rise quickly but decline more slowly, citing cost recovery pressures, inventory dynamics and global market volatility as key factors. Speaking during a MEMAN webinar on Tuesday, the association’s Chairman, Hubb Stokman, said the trend reflects…
By Seun Ibiyemi The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the worsening state of its members’ businesses, following a sharp increase in petrol pump prices driven by escalating tensions in the Middle East. Marketers say the rising cost of Premium Motor Spirit (PMS) has significantly increased their operating expenses, while…
By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has successfully concluded the pre-qualification stage of the 2025 Oil Licensing Round, paving the way for companies to access critical data ahead of the bidding process. A statement by Head of Media and Strategic Communication at NUPRC, Eniola Akinkuotu on Tuesday in Abuja, confirmed that…
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project (SERAP) has called on Bola Tinubu to direct an investigation into the N5.9 billion reportedly spent on the rebranding of the Nigerian National Petroleum Corporation (NNPC) to the Nigerian National Petroleum Company Limited (NNPCL). The call was disclosed in a statement shared on the organisation’s account…
By Seun Ibiyemi Industry experts in Nigeria’s energy sector have called on the Federal Government to prioritise bold privatisation over bureaucratic committees as the only sustainable solution to the country’s chronic power challenges and broader economic stagnation. In an interview with BusinessPointer, Engineer Eleojo Joseph stressed that while the generation and distribution segments of Nigeria’s…
By Seun Ibiyemi Nigeria’s decision to power the Aso Rock Presidential Villa with its own solar energy system marks a symbolic and potentially transformative moment for the nation’s beleaguered electricity sector. While the move has drawn praise for its environmental foresight, it also lays bare deep structural problems in the country’s energy supply and carries…
By Seun Ibiyemi In a bid to expand access to cheaper and cleaner fuel alternatives, President Bola Ahmed Tinubu has directed the Presidential Initiative on Compressed Natural Gas (PiCNG) to deploy about 100,000 vehicle conversion kits nationwide. The directive is aimed at promoting the use of Compressed Natural Gas (CNG) as a substitute for petrol…
By Seun Ibiyemi Nigeria’s President, Bola Ahmed Tinubu, has approved a targeted fiscal incentive package aimed at unlocking the long-awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater oil project, a development expected to attract about $20 billion in foreign direct investment into the country. The approval marks a significant milestone in…
By Seun Ibiyemi Dangote Petroleum Refinery has reduced its ex-depot prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), marking its first downward price adjustment after a series of sharp increases recorded in recent days. According to the refinery’s latest pricing template released on March 10, 2026, the gantry price of petrol has…
By Seun Ibiyemi The Chairman of the Senate Committee on Public Accounts, Aliyu Wadada, has acknowledged that unraveling the alleged ₦210 trillion discrepancies in the financial records of the Nigerian National Petroleum Company Limited (NNPCL) is proving to be a difficult and complex task. Wadada, however, stressed that the Senate’s ongoing probe is focused on…
