UThe Federal Government has started distributing Compressed Natural Gas-powered tricycles to Nigerian youths under a financing arrangement that allows beneficiaries to pay in discounted instalments. The scheme is run by the Nigerian Consumer Credit Corporation (CREDICORP) with Sub-city Project Global Consult, and the distribution exercise took place in Yola, Adamawa State. The programme is designed…
Nigeria produced about 307 million barrels of crude oil and condensate between March and August 2026, data from the Nigerian Upstream Petroleum Regulatory Commission shows. Combined output averaged about 1.67 million barrels per day during the six-month period. The figures show production rose steadily from March to June before easing slightly in July and August….
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has set September 24, 2028 target for Nigeria’s domestic gas market to transition to a fully established willing buyer, willing seller framework. The Chief Executive of NMDPRA, Mallam Rabiu Umar, disclosed this on at the Gas Market Maturity Workshop, organised under the Decade of Gas initiative…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has observed incidents of under-dispensing of petroleum products at retail outlets nationwide. In a statement on Tuesday, it said it views the action as a serious breach of consumer trust that will not be tolerated. To safeguard the interests of consumers, all retail outlet…
Dangote Petroleum Refinery has cut the ex-gantry price of Premium Motor Spirit by N25 per litre, bringing its new rate to N1,325. The reduction comes just nine days after the refinery raised the price by N85. On September 12, 2026, Dangote moved its price from N1,265 to N1,350 per litre. The latest cut reverses part…
Indonesia’s state-owned oil company, Pertamina, is considering investment in Nigeria’s upstream oil and gas sector, including producing assets and projects nearing final investment decisions. The interest came as the Nigerian Upstream Petroleum Regulatory Commission opened talks with Indonesia on petroleum investments and signalled Pertamina’s interest in the upcoming 2026 licensing round. The discussions involved NUPRC…
Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says the reforms in Nigeria’s oil sector are attracting investors with the financial and technical capacity to develop the country’s petroleum assets. Lokpobiri spoke in Yenagoa when the management of Highban Resources Limited visited him with its Chinese investment partners, Manshi Group and Richland SG…
Oil prices fell on Monday as traders watched for a recovery in shipments from Saudi Arabia, even after weekend attacks by Iran-backed Houthis with missiles and drones. Brent crude futures for November delivery dropped 1.71% to $102.09 a barrel as of 2:53 a.m. ET, while U.S. West Texas Intermediate futures for October shed 1.96% to…
Nigeria’s $300 million Distributed Renewable Energy Fund has been commercially launched, moving the initiative from its structuring phase into capital deployment. The Nigeria Sovereign Investment Authority (NSIA) announced the launch on Monday. The fund pools public and private capital to finance distributed renewable energy projects and widen access to reliable electricity across the country. The…
Nigeria earned $6.22 billion from gas exports in the first half of 2026, a 4.2% rise from $5.97 billion in the same period of 2025. The increase was driven almost entirely by a strong second quarter, according to an analysis of the Central Bank of Nigeria’s Balance of Payments Highlights for the first and second…
