Dangote assures Nigerians of stable fuel supply during the Festive season

Chairman of Dangote Group, Aliko Dangote, on Friday said Nigerians will no longer experience fuel queues during the Christmas and New Year seasons. Briefing State House correspondents after meeting with President Bola Tinubu at the Aso Rock Villa, Abuja, Dangote said his refinery has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority of…

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FG sets up $100m equity investment scheme to support Nigerian oil companies

The Federal Government has launched a $100 million equity investment scheme aimed at boosting the capacity of Nigerian companies operating in the oil and gas sector. The initiative was unveiled on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board…

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NUPRC Remits N8.79tn to Federation Account in 10 Months, Posts N873bn in October

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted N8.79 trillion to the Federation Account jointly run by the federal government, state and local governments between January and October this year, according to a presentation at the November Federation Account Allocation Committee (FAAC) meeting. The commission also recorded a significant rise in revenue inflows for October…

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Domestic refineries supply 35% as daily petrol consumption hits 56.7m litres

Nigeria’s average daily consumption of premium motor spirit, also known as petrol, rose 19.36 per cent in October 2025 to 56.7 million litres compared to 47.5 million litres recorded over the corresponding period a year ago, with domestic refineries supplying 34.15 per cent. Data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA,…

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Nigeria’s 1.5m bpd oil quota remains till December 2026 – OPEC.

The Organisation of the Petroleum Exporting Countries (OPEC) has maintained Nigeria’s crude oil production quota at 1.5 million barrels per day (bpd) until December 2026, reaffirming a previous decision taken in late 2024. The extension was announced after the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, where members agreed to retain overall production…

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