Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman…
Commends Dangote for its affordable petrol products The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on all its members nationwide to patronise the Dangote Refinery in their purchase of PMS products, noting that the refinery already offers the best affordable price for all marketers, even as free delivery commences in January 2026. The…
Conoil Plc has closed the 2024 financial year on a confident note, announcing a proposed dividend payout of ₦2.428 billion to shareholders. The dividend, set at 350 kobo per 50 kobo ordinary share, was presented at the Company’s 55th Annual General Meeting held on Friday, 19 December 2025, reinforcing Conoil’s steady performance in a demanding…
The Federal Competition and Consumer Protection Commission, FCCPC, has lifted the seal placed on the headquarters of Ikeja Electric Plc after the power firm agreed to comply with regulatory directives over consumer rights violations. The Commission, in a statement issued on Friday and signed by its Director of Corporate Affairs, Ondaje Ijagwu, stated that the…
The Coalition of Civil Society for Transparency in the Extractive Industry, CCSTEI, has lauded the Nigerian National Petroleum Company Limited, NNPCL, under Group Chief Executive Officer, GCEO, Bayo Ojulari, for the milestone recorded by NNPC Exploration and Production Limited, NEPL, the upstream subsidiary, which hit a daily crude oil output of 355,000 barrels on December…
The Women in Energy Network (WIEN), a leading advocate for gender balance in energy sector leadership, has commended President Bola Ahmed Tinubu for appointing Oritsemeyiwa Eyesan as Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a statement congratulating Eyesan, WIEN President, Mrs Eyono Fatayi-Williams, said the appointment is both inspiring and historic,…
*Urge new NMDPRA chief to prioritise national interest The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday opposed the uncontrolled importation of petroleum products as well as what it described as the ‘reckless’ issuance of import licenses by the downstream/midstream regulator. In a briefing in Abuja on recent happenings in the sector, National President of…
Outgoing Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has dismissed allegations that he spent about $5 million on his children’s education abroad, insisting that his income, scholarships and family support fully account for the expenses. This was as Senator Adams Oshiomhole (APC, Edo North) has revealed that…
Dangote Refinery has reiterated that its petrol gantry price remains at N699 per litre. The company made this known in a notice on its X account on Thursday, stressing that the product is available for pickup by petroleum marketers. This comes as the retail price of petrol has dropped to between N739 and N912 per…
President Bola Tinubu has appointed Dr Mulisiu Oseni as Chairman of the Nigerian Electricity Regulatory Commission, following the confirmation of the commission’s board members by the Senate. Oseni’s appointment indicates that Tinubu has dropped Abdullahi Ramat, whose name he had initially sent to the Senate for confirmation in August. Ramat, a former Chairman of the…
