The Ministry of Solid Minerals Development recorded a 337 per cent increase in revenue, rising to over N70 billion in 2025 from N16 billion in 2023, under the leadership of Minister of Solid Minerals Development, Dr Dele Alake. The development was disclosed by the Special Assistant on Media to the Minister, Segun Tomori, who attributed…
Petralon Energy, a Nigerian oil exploration and production company, appointed Uduak Equere as executive director effective Monday, as the independent producer seeks to capitalise on recent operational gains and position itself for expansion in Africa’s largest petroleum market. Equere, who joined Petralon as chief commercial officer, will retain that role while taking on group-level responsibilities…
President Bola Tinubu has written two letters to the senate seeking the confirmation of 21 nominees for the boards of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In the first letter, Tinubu, according to a statement yesterday by his Adviser on Information and Strategy, Bayo Onanuga, nominated…
The board of Nigeria Liquefied Natural Gas Limited (NLNG) has approved the appointment of Adeleye Falade as the company’s new managing director and chief executive officer. The appointment was disclosed at a send-off ceremony held in Abuja last December to mark the end of the tenure of the incumbent managing director, Philip Mshelbila, whom Mr…
The Federal High Court in Abuja has ordered the Nigeria National Petroleum Company Limited to disclose details of the emergency $3bn “crude-for-cash” loan it obtained from the African Export-Import Bank. Delivering judgment in Suit No. FHC/ABJ/CS/1631/2023, Justice Emeka Nwite granted an order of mandamus in favour of the Human and Environmental Development Agenda Resource Centre,…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its December 2025 National Liquid Hydrocarbon Production Report. On a month-on-month basis, national oil output also weakened, falling to 1.599 million bpd in November from 1.698 million bpd in October 2025, the data showed. According to the regulator, combined crude oil and condensate production in…
The Dangote Petroleum Refinery is set to face increased competition as at least 23 new refineries across Nigeria move closer to completion. Industry data released by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) revealed that the refineries, currently at different stages of development, are expected to add more than 850,000 barrels per…
….as company eyes $30bn investment by 2030 …says competition will favour Nigerians, as market adjusts ….oil output hits 1.7mbpd in 2025, gas rises above 7bcf/day Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), has expressed strong optimism that the targeted 1.8 million barrels-per-day oil production benchmark…
Transgrid Enerco Limited has completed the acquisition of a 60 percent controlling interest in Eko Electricity Distribution Company (Eko DisCo) in a transaction valued at about N360 billion. The transaction, which was initially expected to close by April 2025, was finalised on December 30, making it one of the largest privately negotiated takeovers in Nigeria’s…
Acquires 20.7% equity stakes in Seplat Energy. Heirs Energies Limited has acquired the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc, in a transaction valued at US$496 million. This acquisition marks a significant milestone in our long-term strategy and further reinforces our commitment to…
