Petrol depot prices jump as crude rally and Strait of Hormuz tensions hit Nigerian fuel market
Petroleum depot prices rose across Nigeria on Tuesday, August 11, 2026, as global crude oil…
NLNG, NCDMB unveil research centre at Rivers Varsity to boost Energy and industrial Sector
The Nigeria LNG Limited and the Nigerian Content Development and Monitoring Board on Thursday unveiled plans for a Research and Innovation Centre for Computer and Electrical Engineering at Rivers State University, Port Harcourt. The project, NLNG said, is designed to enhance the university’s capacity to undertake advanced, industry-relevant research, provide specialised training and develop technological…
Aradel Holdings targets 2027 for petrol production at Rivers refinery
Nigerian energy company Aradel Holdings Plc is targeting 2027 to begin producing petrol at its modular refinery in Rivers State, adding another domestic source of fuel to Nigeria’s changing downstream market. Temitayo Ogunbanjo, who oversees Aradel’s refining business, disclosed the plan on the sidelines of a conference in Abuja. Ogunbanjo said the removal of petrol…
Petrol depot prices jump as crude rally and Strait of Hormuz tensions hit Nigerian fuel market
Petroleum depot prices rose across Nigeria on Tuesday, August 11, 2026, as global crude oil climbed towards $90 per barrel and Iran kept the Strait of Hormuz closed. Parker in Warri recorded the largest single increase of N48 per litre, pushing its petrol price to N1,230. Diesel prices also moved higher at several Lagos and…
NERC dissolves Kaduna DisCo board over N456.5bn debt, appoints administrator
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDC) and appointed its Managing Director, Dr Abubakar Umar Hashidu, as administrator for six months. The regulatory action takes effect from August 10, 2026, under Order No. NERC/2026/086. NERC said KAEDC was facing a severe financial and operational crisis, marked…
Fuel subsidy would have cost N53trn, pushed naira to N3,500/$ if not removed.
The Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has said the fuel subsidy bill could have risen to about N53 trillion and the naira could have hit N3,500 per dollar if President Bola Tinubu had not removed the subsidy in 2023. He spoke on Channels Television on Sunday night while defending the removal…
NNPC cuts petrol prices again in Lagos and Abuja, second reduction in five days
NNPC Limited has reduced petrol prices at its retail outlets in Lagos and Abuja for the second time in five days, as competition in Nigeria’s downstream market and falling global crude prices push pump prices lower. The Lagos price dropped by N10 per litre, from N1,265 to N1,255, effective Friday, August 7, 2026. In Abuja,…
Nigerians Paid N208.15bn for Electricity in May 2026, NERC Data Shows
Electricity consumers in Nigeria paid N208.15 billion for power in May 2026, according to the Nigerian Electricity Regulatory Commission (NERC). The figure came as DisCos improved revenue collection efficiency to 82.32%, despite a drop in billing efficiency. NERC’s Commercial Performance Factsheet for May 2026 showed that the 11 electricity distribution companies received power worth N328.95…
FG moves to stop fuel price fixing as NMDPRA issues draft competition rules
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has released draft regulations that would ban petroleum companies from fixing prices, sharing markets, rigging bids, or jointly restricting fuel supply. The framework was published on Thursday, August 6, 2026, and stakeholders have 21 days to submit written comments before it is finalised. The draft Midstream…
NLNG dedicates 100% of LPG output to Nigerian market as cooking gas prices drop
Nigeria LNG Limited has dedicated 100% of its liquefied petroleum gas production to the domestic market, ending exports in a push to improve access to affordable cooking gas. Prices have already fallen to around N1,075 per kilogram in many locations. The announcement came as cooking gas prices continue to decline across the country, offering relief…
FCCPC warns DisCos: No charging consumers for obsolete meter replacement
.The Federal Competition and Consumer Protection Commission has told electricity distribution companies that customers will not bear the cost of replacing obsolete prepaid meters. FCCPC chief Tunji Bello issued the warning in Abuja. Bello spoke at a stakeholder engagement on consumer protection and regulatory cooperation in the electricity sector. The meeting brought together the Nigerian…
