The Dangote Petroleum Refinery is set to face increased competition as at least 23 new refineries across Nigeria move closer to completion. Industry data released by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) revealed that the refineries, currently at different stages of development, are expected to add more than 850,000 barrels per…
….as company eyes $30bn investment by 2030 …says competition will favour Nigerians, as market adjusts ….oil output hits 1.7mbpd in 2025, gas rises above 7bcf/day Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), has expressed strong optimism that the targeted 1.8 million barrels-per-day oil production benchmark…
Transgrid Enerco Limited has completed the acquisition of a 60 percent controlling interest in Eko Electricity Distribution Company (Eko DisCo) in a transaction valued at about N360 billion. The transaction, which was initially expected to close by April 2025, was finalised on December 30, making it one of the largest privately negotiated takeovers in Nigeria’s…
Acquires 20.7% equity stakes in Seplat Energy. Heirs Energies Limited has acquired the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc, in a transaction valued at US$496 million. This acquisition marks a significant milestone in our long-term strategy and further reinforces our commitment to…
The Nigerian Content Development and Monitoring Board (NCDMB) in December 2025 commenced the Nigerian Content Research, Innovation and Technology Challenge 2025/2026 with a call on interested individuals, research institutions, academia, oil and gas industry suppliers, and members of the public with research innovations, to submit proposals for evaluation and admission into the NCDMB Technology Innovation…
The Nigerian National Petroleum Company Limited has restored the Escravos–Lagos Pipeline System to full operations, weeks after an explosion disrupted gas supply along the critical infrastructure corridor in Delta State. NNPC NNPCL Chief Corporate Communications Officer, Andy Odeh said on Monday in a statement that the pipeline, which suffered an unexpected explosion on December 10,…
Nigeria National Petroleum Company (NNPC) is in discussions to secure $2 billion in financing for critical pipeline infrastructure repairs, marking the latest step in an ambitious capital-raising campaign designed to revive the country’s flagging petroleum sector. NNPC is negotiating the financing with Nexus Alliance, a firm specialising in pipeline infrastructure support, people familiar with the…
Geregu Power Plc said its ultimate ownership has changed following a restructuring at its majority shareholder, marking the exit of billionaire investor Femi Otedola from the company’s control and triggering a sweeping overhaul of its board. The Nigerian power producer said MA’AM Energy Ltd has acquired a 95 percent stake in Amperion Power Distribution Company…
The NNPC has completed welding the main line of the pipeline, including the critical River Niger crossing – a feat that has stalled progress for years. Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, accompanied by the Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, and the Company’s Executive Vice…
President Bola Ahmed Tinubu has authorized the cancellation of significant debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, erasing obligations totaling $1.42 billion and ₦5.57 trillion. The decision follows a detailed reconciliation between government agencies aimed at resolving long-standing financial discrepancies. The approval was documented by the Nigerian…
