Nigerian motorists are facing another petrol price increase after MRS and Dangote-backed filling stations raised their pump price to N1,310 per litre in Lagos and surrounding areas. The latest increase represents a sharp rise from about N1,205 per litre, adding fresh pressure to households, transport operators and businesses already battling elevated operating costs. Other filling…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the speedy completion of its proposed headquarters, The Barrel, will boost the Commission’s efficiency and Nigeria’s investment appeal. The Barrel, a 10-storey building with the capacity to accommodate 900 to 1,000 people is being constructed in the likeness of a convex, curved cylinder that bulges outward at…
Bosun Olabiyi-Agoro has been elected national president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, replacing Festus Osifo. Olabiyi-Agoro emerged as president at the association’s first Quadrennial Delegates Conference, held in Abuja on Saturday. Olabiyi-Agoro, a staff member of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is the current chairman of…
Nigeria’s listed energy companies recorded about N2.57tn in combined revenue in the first half of 2026, but their performances varied, with Seplat Energy posting strong growth while power generators Geregu Power and Transcorp Power recorded weaker revenue. The financial results of Seplat Energy Plc, Geregu Power Plc and Transcorp Power Plc show differences in the…
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…
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,…
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…
