Kano, Imo, Anambra and Nasarawa now join Lagos, Ogun, Rivers, Kaduna, Abuja and Delta, bringing the total to ten states. Petrol under the scheme would sell for ₦1,165 per litre, and marketers who qualify get ten days’ credit before payment is due. The catch is that you need to buy at least 250,000 litres at…
Aliko Dangote has announced plans to build a $16 billion oil refinery in Lamu, Kenya, which he says will be larger than his Lagos facility. Construction could start as early as October 2026 if Kenya agrees to protect the plant from cheap fuel imports. Dangote told reporters the Lamu refinery would have a processing capacity…
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…
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…
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…
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…
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 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,…
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…
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…
