Seplat Energy Plc has called for increased investment across Nigeria’s gas value chain to unlock the country’s vast natural gas resources, strengthen energy security, drive industrialisation, and position Nigeria as Africa’s leading gas powerhouse. Speaking at the Gas Investment Forum (GIF) 2026 in Lagos, Seplat Energy’s Chief Executive Officer, Engr. Effiong Okon, represented by Mr….
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said it does not have a fixed date for its proposed Initial Public Offering (IPO), noting that the final decision to proceed rests with its shareholders. Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd., disclosed this on Tuesday in Abuja at a news conference on…
NNPC Ltd recorded a profit after tax of N7.2 trillion in 2025, a 33% rise from the N5.4 trillion posted in 2024. Group Chief Executive Officer Bayo Ojulari announced the results on Tuesday, September 29, in Abuja. Revenue for the year stood at N34.5 trillion, even as lower international crude oil prices and a drop…
Tegbe recently said the Federal Government had no immediate plan to increase electricity tariffs as the administration prioritises these objectives. In December, the Federal Government issued the first bond under the Presidential Power Sector Debt Reduction Programme, marking a major step toward resolving payment arrears in Nigeria’s electricity industry. The government plans to issue up…
The Nigerian National Petroleum Company Limited has reduced petrol pump prices at select filling stations in Lagos and Abuja, with cuts of up to N25 per litre. The adjustments followed Dangote Petroleum Refinery’s decision to lower its petrol gantry price by N25 to N1,325 per litre from N1,350, creating room for marketers and retailers to…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has proposed new rules to ban fuel price fixing, hidden charges and other anti-competitive practices in the petroleum industry. The draft regulations would also force owners of pipelines, depots, jetties and storage terminals to grant qualified third parties fair access. The framework was presented at a…
Nigeria’s domestic refineries received 683,000 barrels of crude oil per day in August 2026, up 16.75 per cent from 585,000 barrels per day in July. The increase came as Dangote Refinery raised petrol supply by 39 per cent to 35.9 million litres daily and Nigeria’s petrol imports fell 26 per cent to 14.6 million litres…
Elektron Energy says its 40-megawatt power plant being developed in Victoria Island of Lagos is nearing commercial operation. The project, known as Victoria Island Power, was developed in partnership with Eko Power Ltd. and would begin commercial operation in December 2026. The company’s General Manager, Operations, Mr Nicholas Abolo-Tedi, disclosed this in a statement on…
Cooking gas prices in Nigeria have dropped by about 40 per cent from their June peak, following improved supply and closer collaboration among industry operators. The Nigeria Liquefied and Compressed Gases Association (NLCGA) disclosed the development at an industry event in Lagos. Lanre Baiyewu, Executive Secretary and Chief Executive Officer of the NLCGA, said the…
Petrol is selling for between N1,385 and N1,456 per litre at Nigerian National Petroleum Company (NNPC) outlets, with private stations charging more in several states, pushing fuel back to the centre of the country’s political debate ahead of the 2027 general elections. The latest adjustments followed a N25 cut in Dangote Petroleum Refinery’s ex-gantry price,…
