The Federal Government has removed import duty and Value Added Tax on cooking gas, compressed natural gas and electric vehicles to boost cleaner energy adoption. The Nigeria Customs Service announced the tax incentives on Thursday, July 30, 2026, under the Presidential Gas for Growth Initiative. The policy is expected to lower the cost of bringing…
Nigeria’s average Domestic Gas Delivery Obligations performance reached 2.05 billion cubic feet per day (Bcf/d) as of June 2026, representing a 65 percent compliance rate against the allocated target of 3.16 Bcf/d Oritsemeyewa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), disclosed this during a stakeholders’ workshop on the proposed Gas Swap…
Top U.S. oil producers ExxonMobil and Chevron have warned that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions. Both companies reported large jumps in second-quarter refining profits on…
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and Governor Siminalayi Fubara have inaugurated a state-of-the-art Specialty Protective Coatings and Paints Manufacturing Plant built by an indigenous company, ‘Solewant Group’ in Rivers State. This is as Lokpobiri described the investment as a milestone in Nigeria’s industrialisation drive and local content development. The facility,…
Dangote Petroleum Refinery has launched the first phase of a free petrol delivery programme covering six Nigerian states. Marketers purchasing a minimum of 250,000 litres qualify for free delivery and a 10-day credit facility under the scheme. The refinery said the six-state rollout is part of its Vision 2030 strategy, with more states to be…
Global crude oil prices have surged above $100 per barrel for the first time since May, driven by escalating conflict between the United States and Iran. The spike is expected to push petrol prices higher in Nigeria and worsen the cost of living, even as the government faces billions of naira in unexpected revenue. Nigeria’s…
Dangote Petroleum Refinery has resumed the sale of Automotive Gas Oil (AGO), commonly known as diesel, after an eight-day suspension. But marketers will now pay a higher price as the company raises its gantry rate to ₦1,650 per litre. The latest pricing marks a ₦150 increase from the previous ₦1,500 per litre, a 10% rise….
Dangote Group has proposed building a petroleum products storage terminal in Cameroon to expand distribution across Central Africa. The project, still under discussion, could improve Cameroon’s fuel security and supply neighbouring countries. The proposal was presented on July 21, 2026, to Cameroon’s Prime Minister, Joseph Dion Ngute, by the Group’s Vice President for Oil, Gas…
The Lagos State Electricity Regulatory Commission (LASERC) has clarified that its proposed 12-month electricity billing rule will not cancel existing electricity debts owed by consumers. The commission said the rule will only apply after the new Retail Electricity Supply Code takes effect and is meant to ensure electricity companies issue bills within 12 months. LASERC…
Fuel marketers have resumed loading petrol and diesel from private depots across Nigeria after nearly a week of disruptions caused by price adjustments. Depot prices in Lagos climbed to N1,275 per litre on Tuesday, July 22, 2026, as the Dangote refinery’s dollar-pricing policy continued to drive market uncertainty. Chinedu Ukadike, National Publicity Secretary of the…
