Tinubu Nominates 21 Board Members for Oil Regulators
President Bola Tinubu has sent 21 nominees for the boards of NMDPRA and NUPRC to the Senate for confirmation. This move aims to advance reforms in Nigeria's crucial oil and gas sector.
Category : Oil Gas
Nigeria's N58tr Budget Faces $10bn Hole from Venezuela Crisis
Political upheaval in Venezuela could flood oil markets, slashing prices and creating a $10 billion shortfall in Nigeria's 2026 budget. Experts warn of severe fiscal strain and pressure on the Naira. Read the full analysis.
Venezuela Crisis Puts Nigeria's N58tr Budget at Risk
Geopolitical shifts in Venezuela could crash oil prices, threatening Nigeria's N58.18 trillion 2026 spending plan and naira stability. Experts warn of a potential $10.24 billion revenue shortfall.
Trump Eyes Venezuela Oil After Seizing Maduro
Following the capture of Venezuelan leader Nicolás Maduro, US President Donald Trump has announced plans for American firms to develop Venezuela's vast oil reserves. Experts warn the plan faces massive hurdles and could take a decade. Read more on the imp
Dangote Cuts Fuel Price, Takes on Regulator in 2025
Aliko Dangote emerges as a 2025 hero, slashing fuel prices and challenging regulatory corruption. His 'no gree' stance echoes a national demand for accountability and consumer rights. Read the full story.
Elumelu: Africa Can Own Its Strategic Resources
Tony Elumelu declares Africa's capacity to own and manage its resources as Heirs Energies completes a major $500 million acquisition in Seplat Energy, backed by African banks.
Nigeria's Oil Sector Wins in 2025, Says Minister Lokpobiri
Minister Heineken Lokpobiri declares 2025 a successful year for Nigeria's oil sector, driven by reforms, new investments, and strengthened local content. Read the full report on the industry's progress and 2026 outlook.
NCDMB Innovation Challenge Offers Prizes for Energy Ideas
The NCDMB has launched its 2025/26 Research, Innovation and Technology Challenge, seeking Nigerian solutions for the oil, gas, and energy sectors. Winners get cash, mentorship, and incubation support. Apply now!
Tinubu cancels $1.42bn NNPC debt, Agbese reacts
President Tinubu cancels $1.42bn NNPC debt. Reps' Agbese links it to CEO Ojulari's transparency and record oil output. Read the full analysis.
Dangote Refinery Price War Cost Petrol Retailers Billions
PETROAN reports the 2025 price war between Dangote Refinery and marketers led to massive losses for retailers, squeezed profits, and market instability. The group calls for urgent stakeholder dialogue.
Elumelu's $496m Seplat Deal Set to Boost Fortune
Billionaire Tony Elumelu expands his energy empire, acquiring a 20.07% stake in Seplat Energy for $496 million. The deal makes Heirs Energies the largest shareholder and is expected to significantly increase his net worth. Read the full details.
NNPC remits N12.1trn, reports N502bn profit in 2025
NNPC Limited remitted N12.117 trillion to the Federation Account in ten months, reporting strong revenue and profit growth. Oil production held steady as key gas pipeline projects near completion.
NNPC Records N4.36tr Revenue, N502bn Profit
NNPC Ltd announces N4.36 trillion revenue and N502 billion profit for November 2025, driven by increased oil production. Discover the full financial and operational breakdown.
New Refineries to Add 850,000 bpd, State Plants Fail
PETROAN projects 850,000 bpd from new refineries but slams N11.35tr waste on state plants. Read the 2026 outlook for Nigeria's oil sector.
Elumelu's Heirs Energies Buys $500m Seplat Stake
Heirs Energies, led by Tony Elumelu, has acquired a 20.07% stake in Seplat Energy for $500 million. The deal, backed by Afreximbank, marks a major shift towards indigenous ownership in Nigeria's energy sector. Read the full story.
Heirs Energies Buys $500M Stake in Seplat Energy
Tony Elumelu's Heirs Energies acquires a 20.07% stake in Seplat Energy from Maurel & Prom for $500 million, marking a major shift in indigenous ownership of Nigeria's energy assets. Read the full details.
NIPCO to Boost Stake in Savannah Energy to 26.5%
Savannah Energy ends its share buyback, freeing £10m. NIPCO plans to increase its stake to 26.5% via secondary market deals. A new relationship agreement aims to protect minority shareholders. Read the full details.
NNPC Debt Waiver: Only Penalties Forgiven
Clarification emerges that NNPC's $1.42bn and N5.57tr debt waiver covered only interest and penalties, not core royalties. CHRICED slams the move as reckless and opaque.
20m Nigerian Homes Stick to Firewood Over Cooking Gas
Despite rising LPG production, over 20 million Nigerian households rely on firewood and charcoal due to high costs. Experts warn of deforestation and health risks as government targets 5 million cylinders by 2030.
Gas Crisis Fuels Deforestation as Prices Soar
Despite vast gas reserves, soaring LPG prices force Nigerian households back to firewood and charcoal, deepening health risks and accelerating forest loss. Experts warn of a growing energy poverty crisis.
NNPCL Cancels N4.01 Trillion Subsidy Debt
The Nigerian National Petroleum Company Limited has cleared N4.01 trillion in subsidy arrears owed by the FG after FAAC reconciliation. Discover the details and implications for Nigeria's economy.
NNPC Lists Top Assets for Sale, Opens Bidding Process
NNPC launches a formal bid to sell stakes in key oil and gas assets. This strategic divestment aims to attract investors, boost production, and reshape Nigeria's energy sector under the PIA reforms.
Dangote Named Guardian Person of the Year 2025
Aliko Dangote's refinery ends Nigeria's fuel import dependence, saving billions in forex and sparking industrial hope. Discover the impact of Africa's richest man.
NNPC Sells Stakes in Oil Assets, Bids Open
NNPC Limited invites bids for stakes in key oil and gas assets. Registration deadline is January 10, 2026. PENGASSAN confirms the strategic divestment plan.
NNPC Fully Restores Escravos-Lagos Gas Pipeline
The NNPC has successfully restored the Escravos-Lagos Pipeline System after a December explosion. Read how this swift action secures Nigeria's gas supply for power and industry.
FG Cancels N5.57 Trillion, $1.42 Billion NNPC Debt
President Tinubu approves massive debt write-off for NNPC after reconciliation, aiming for a clean financial slate. Discover the details and ongoing revenue challenges.
Tinubu cancels $1.42bn NNPC debt to Federation Account
President Bola Tinubu has approved the cancellation of $1.42 billion in legacy debts owed by NNPC Ltd to the Federation Account. Learn the details and implications of this major financial decision.
NNPC Profit Hits N5.4tn as Directors' Pay Soars 58%
NNPC Limited reports record N5.4 trillion profit while directors' fees jump to N4.1 billion. Zero staff resignations in 2024 as administrative costs surge. Read the full analysis.
Analyst Highlights Bayo Ojulari's 8-Month Achievements at NNPCL
Public policy analyst James Okafor assesses NNPCL GCEO Bayo Ojulari's focus on regional energy collaboration and strategic positioning over quick wins. Discover the key projects shaping Nigeria's continental energy role.
Rivers Community Demands FG Action on Oil Pollution
Leaders in Rivers State's Kpean community demand urgent federal action over a massive oil spill destroying farmlands and rivers. They accuse FG, Shell, and NNPCL of negligence.
Page 4 of 10