The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have signed a Memorandum of Understanding in Abuja to tighten oversight of the deregulated petrol market. The move follows a fresh price adjustment by Dangote Petroleum Refinery that has pushed pump prices higher across the country. Dangote…
Nigeria’s crude oil and condensate production rose to 1,677,777 barrels per day in August 2026, a 0.4 per cent increase from the 1.67 million barrels per day recorded in July. The Nigerian Upstream Petroleum Regulatory Commission confirmed the figure in a statement issued on Sunday by its Head, Media and Corporate Communications, Eniola Akinkuotu. The…
Nigerians who want a stake in Aliko Dangote’s refinery can now subscribe through 32 approved channels, including banks, fintech platforms, mobile money operators and NGX Invest. Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official initial public offering (IPO) website. The shares are offered at ₦525 each, with a minimum subscription of…
Dangote Petroleum Refinery has named a 10-member Board of Directors as the $20 billion facility prepares for a public listing aimed at broadening investor ownership and strengthening governance. The names were disclosed in the company’s Initial Public Offering prospectus. The board draws from energy, manufacturing, corporate finance, investment banking and legal practice. The refinery said…
Tony Elumelu’s indirect stake in Seplat Energy jumped by ₦163 billion in a single trading session after the oil and gas company’s share price closed 10% higher at ₦14,907.80 per share on Thursday, September 10, 2026. The 120.4 million shares held through Heirs Holdings Limited and Heirs Energies Limited were worth about ₦1.80 trillion, or…
The Nigerian National Petroleum Company Limited has announced plans to deploy between 50 and 70 smart, self-service filling stations across the country within the next six months. The company said the initiative was part of a broader plan to transform its conventional retail outlets into modern energy and mobility hubs, offering petrol, electric vehicle charging,…
Ramesh KansagraSavannah Energy has struck gas at a second Nigerian well and lifted its production outlook. Its shares have not traded since it missed the deadline for filing last year’s accounts. The London-listed producer, in which the Kansagra family’s NIPCO took a 19% stake last October, said its Uquo 13 well reached first gas in…
Nigeria’s petrol landing cost has climbed to N1,314.67 per litre, according to the latest data from the Major Energies Marketers Association of Nigeria (MEMAN). Several depots have raised ex-depot petrol prices for the second time in under a week, pushing pump prices higher across the country. MEMAN also put the landing cost of diesel at…
Africa’s biggest refinery is moving closer to a landmark public offering as billionaire industrialist Aliko Dangote has revealed that the initial public offering of the Dangote Refinery will open within the next 10 to 12 days. Dangote disclosed this on Thursday, September 3, 2026, while speaking to investors and analysts in Botswana, providing the clearest…
Dangote Refinery held its liquefied petroleum gas depot price at N950 per kilogram on Monday, August 31, 2026, remaining the cheapest among all tracked suppliers. Only two depots changed prices between Friday, August 28 and Monday, August 31, while the rest stayed flat. Depot price movementsData from Petroleumprice.ng showed that A.Y.M Shafa cut its price…
