40MW plant set to boost Lagos power supply
Elektron Energy says its 40-megawatt power plant being developed in Victoria Island of Lagos is…
40MW plant set to boost Lagos power supply
Elektron Energy says its 40-megawatt power plant being developed in Victoria Island of Lagos is nearing commercial operation. The project, known as Victoria Island Power, was developed in partnership with Eko Power Ltd. and would begin commercial operation in December 2026. The company’s General Manager, Operations, Mr Nicholas Abolo-Tedi, disclosed this in a statement on…
Cooking Gas Prices Fall 40% From June Peak as NLCGA Pushes for Deeper Relief
Cooking gas prices in Nigeria have dropped by about 40 per cent from their June peak, following improved supply and closer collaboration among industry operators. The Nigeria Liquefied and Compressed Gases Association (NLCGA) disclosed the development at an industry event in Lagos. Lanre Baiyewu, Executive Secretary and Chief Executive Officer of the NLCGA, said the…
Petrol price hits N1,456 in Yobe as fuel costs shape 2027 campaign
Petrol is selling for between N1,385 and N1,456 per litre at Nigerian National Petroleum Company (NNPC) outlets, with private stations charging more in several states, pushing fuel back to the centre of the country’s political debate ahead of the 2027 general elections. The latest adjustments followed a N25 cut in Dangote Petroleum Refinery’s ex-gantry price,…
FG Begins CNG Tricycle Rollout for Youths Under CREDICORP Instalment Plan
UThe Federal Government has started distributing Compressed Natural Gas-powered tricycles to Nigerian youths under a financing arrangement that allows beneficiaries to pay in discounted instalments. The scheme is run by the Nigerian Consumer Credit Corporation (CREDICORP) with Sub-city Project Global Consult, and the distribution exercise took place in Yola, Adamawa State. The programme is designed…
Nigeria Produces 307 Million Barrels of Crude, Condensate in Six Months
Nigeria produced about 307 million barrels of crude oil and condensate between March and August 2026, data from the Nigerian Upstream Petroleum Regulatory Commission shows. Combined output averaged about 1.67 million barrels per day during the six-month period. The figures show production rose steadily from March to June before easing slightly in July and August….
NMDPRA Sets Target for Transition to Willing Buyer, Willing Seller Gas Market
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has set September 24, 2028 target for Nigeria’s domestic gas market to transition to a fully established willing buyer, willing seller framework. The Chief Executive of NMDPRA, Mallam Rabiu Umar, disclosed this on at the Gas Market Maturity Workshop, organised under the Decade of Gas initiative…
NMDPRA threatens to revoke licences of filling stations tampering with pumps
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has observed incidents of under-dispensing of petroleum products at retail outlets nationwide. In a statement on Tuesday, it said it views the action as a serious breach of consumer trust that will not be tolerated. To safeguard the interests of consumers, all retail outlet…
Dangote Cuts Petrol Price to N1,325 Per Litre, Nine Days After N85 Hike
Dangote Petroleum Refinery has cut the ex-gantry price of Premium Motor Spirit by N25 per litre, bringing its new rate to N1,325. The reduction comes just nine days after the refinery raised the price by N85. On September 12, 2026, Dangote moved its price from N1,265 to N1,350 per litre. The latest cut reverses part…
Pertamina Eyes Nigeria’s 2026 Licensing Round as NUPRC Woos Foreign Capital
Indonesia’s state-owned oil company, Pertamina, is considering investment in Nigeria’s upstream oil and gas sector, including producing assets and projects nearing final investment decisions. The interest came as the Nigerian Upstream Petroleum Regulatory Commission opened talks with Indonesia on petroleum investments and signalled Pertamina’s interest in the upcoming 2026 licensing round. The discussions involved NUPRC…
Tinubu’s Oil Reforms Attracting Ready Investors- Lokpobiri
Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says the reforms in Nigeria’s oil sector are attracting investors with the financial and technical capacity to develop the country’s petroleum assets. Lokpobiri spoke in Yenagoa when the management of Highban Resources Limited visited him with its Chinese investment partners, Manshi Group and Richland SG…
