Nigeria’s refined petroleum product exports rose to $3.94 billion in the second quarter of 2026, up 148% from $1.59 billion in the same period of 2025. The figure was also 66.2% higher than the $2.37 billion recorded in the first quarter of 2026. The data is based on the Central Bank of Nigeria’s Balance of…
Dr Joseph Obele, National Public Relations Officer of the Petroleum Products Retail Outlets Owners, has called on the Federal Government and NNPCL to restart Nigeria’s government-owned refineries to boost local fuel supply and reduce dependence on imports Obele in a statement said reviving the refineries could help ease rising petroleum prices and reduce inflationary pressure…
The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have signed a Memorandum of Understanding in Abuja to tighten oversight of the deregulated petrol market. The move follows a fresh price adjustment by Dangote Petroleum Refinery that has pushed pump prices higher across the country. Dangote…
Dangote Group will break ground on a $17 billion oil refinery in Lamu, Kenya, before the end of September 2026, with completion expected within three years of construction starting. Aliko Dangote, president of Dangote Industries Limited and Africa’s richest man, announced the plan on Monday, September 14, 2026, at the opening of the Dangote Petroleum…
Nigeria’s crude oil and condensate production rose to 1,677,777 barrels per day in August 2026, a 0.4 per cent increase from the 1.67 million barrels per day recorded in July. The Nigerian Upstream Petroleum Regulatory Commission confirmed the figure in a statement issued on Sunday by its Head, Media and Corporate Communications, Eniola Akinkuotu. The…
Nigerians who want a stake in Aliko Dangote’s refinery can now subscribe through 32 approved channels, including banks, fintech platforms, mobile money operators and NGX Invest. Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official initial public offering (IPO) website. The shares are offered at ₦525 each, with a minimum subscription of…
Dangote Petroleum Refinery has named a 10-member Board of Directors as the $20 billion facility prepares for a public listing aimed at broadening investor ownership and strengthening governance. The names were disclosed in the company’s Initial Public Offering prospectus. The board draws from energy, manufacturing, corporate finance, investment banking and legal practice. The refinery said…
Prepaid meter prices in Rivers State have dropped sharply, with Mojec Asset Management Co. Ltd. now selling a single-phase meter for N98,900. That is the first time in recent memory a vendor on the Port Harcourt Electricity Distribution Company (PHED) list has gone below the N100,000 mark. PHED released the updated price list effective September…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked the Dangote Petroleum Refinery and Petrochemicals to open its direct Premium Motor Spirit (PMS) allocation to every registered independent marketer in the country instead of limiting access to a select few. IPMAN National President Abubakar Shettima made the call while addressing developments in Nigeria’s downstream…
Tony Elumelu’s indirect stake in Seplat Energy jumped by ₦163 billion in a single trading session after the oil and gas company’s share price closed 10% higher at ₦14,907.80 per share on Thursday, September 10, 2026. The 120.4 million shares held through Heirs Holdings Limited and Heirs Energies Limited were worth about ₦1.80 trillion, or…
