President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). A statement by the Special Adviser to the President on media and Publicity Bayo Onanuga said the requests followed the…
Oil prices should improve next year, driven by healthy demand, TotalEnergies’ chief executive Patrick Pouyanne who was optimistic about this, noted that a supply response from OPEC would also likely contribute to the rebalancing of oil markets. “Demand continues to grow,” Pouyanne said. “I trust also OPEC countries to manage the situation” in case oil…
The Federal Government has finalised plans to launch a N1.23 trillion Power Sector Bond, part of a broader N4 trillion debt programme aimed at restoring liquidity, stabilising the electricity market, and rebuilding investor confidence, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has said. As of June 2025, the government…
The Petroleum Products Retail Outlets Owners Association of Nigeria has described recent accusations by Aliko Dangote, President of Dangote Refinery against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, as blackmail to take over the country’s downstream oil sector. The National President of PETROAN, Billy Gillis-Harry, disclosed this…
Nigeria NLNG Limited has urged global energy leaders to embrace deeper collaboration to stabilise LNG supply, enhance affordability for emerging markets, and secure long-term energy expansion in an increasingly fragmented and uncertain world. The company’s Managing Director and Chief Executive Officer, Philip Mshelbila, made the call while speaking on the theme, “Energy Expansion in a…
The Federal Government has established a definitive timeline for stricter tax compliance, mandating that banks require a Tax Identification Number (TIN) from all taxable Nigerians maintaining bank accounts beginning January 1, 2026. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, disclosed the regulatory overhaul in a recent interview shared on…
As the Federal Government intensifies efforts to attract new oil and gas investments, spur speedy development of fields and ensure reduction in the cost of production, Marconi NG EPC Limited (Marconi), positioning itself as one the leading oil and gas service companies in West Africa, has pledged cost competitive and speedy delivery of projects and…
FG targets 100,000 jobs from programme The Federal Government has issued permits to 28 companies to access flare gas under the Nigerian Gas Flare Commercialisation Programme (NGFCP), a move expected to attract up to $2 billion in investments. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, announced this during the Permit…
The Federal Government has limited bidders of its 50 oil blocks located in the onshore, shallow water, and deep offshore areas to a maximum of two blocks. This limit and other guidelines would be discussed during the Bid Conference and Roadshow in January 2026 to enable local and foreign investors to understand more and participate….
…targets increased investment, supply of gas Nigeria’s gas sector is set for a major transformation as the Federal Government launches the first gas trading license, clearing house and settlement authorisation aimed at driving transparency, competitiveness, and boosting investment inflows. This initiative, spearheaded by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in collaboration with…
