Industry News

Ex-NNPC GM Faces U.S. Sentencing Over $2.1m Bribery Conviction
A U.S. District Court in California has fixed December 1, 2025, for the sentencing of Paulinus Iheanacho Okoronkwo, a former General Manager of the Nigerian National Petroleum Company Limited (NNPCL), who was convicted of accepting a $2.1 million bribe from a Swiss oil firm. Read more…

NUPENG/Dangote standoff: South East IPMAN not part of strike – Official
The former National Ex-Officio representing the East at the National Executive Council (NEC) of IPMAN and former chairman, Enugu Depot, Chief Chukwudi Ezinwa, made this clarification in Enugu while addressing claims that the zone was involved in the standoff. Read more…

Fuel: Dangote, NUPENG, IPMAN fight escalates
The meeting between Dangote Refinery and members of oil workers under the umbrella of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSEN) and Nigeria Union of Petroleum and Natural Gas Worker (NUPENG) yesterday deadlocked. Read more…

NUPENG confronts the Dangote formula
Aliko Dangote, chairman of the Dangote Group, is rarely introduced these days in the Nigerian media, or indeed, in any public forum, without the appellation, “the richest man in Africa”. That, of course, is who he is. It is not an honorary title. Read more…

Axxela signs PPA with Evans Industries to reduce energy cost
Axxela Integrated Power, one of Axxela’s strategic business units, has signed a Power Purchase Agreement (PPA) with Evans Industries Limited, a leading manufacturer of home and personal care products in Nigeria. Read more…

FG seeks $500m World Bank loan to revamp power distribution
To salvage Nigeria’s troubled power sector, the Federal Government has disclosed that it is working with the World Bank to secure a $500 million facility aimed at resetting the distribution companies (DisCos) and improving electricity delivery nationwide. Read more…

Nigeria faces fiscal strain as OPEC+ boosts oil output
Nigeria is bracing for a fresh wave of economic strain following OPEC+’s decision to accelerate oil production increases, a move analysts warn could deepen fiscal challenges for Africa’s largest crude producer. Read more…

Operators to hike petroleum products prices as depots remain shut
The lifting of petroleum products has been severely disrupted nationwide due to the ongoing industrial dispute between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Dangote Refinery. Read more…

TUC, PENGASSAN back NUPENG’s protest as FG seeks truce
The Federal Government, yesterday, continued its intervention in the brewing industrial dispute between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Dangote Group. Read more…

Gains in Transcorp Power, 40 others lift investors’ wealth by N262b
The Nigerian equities market reopened yesterday in an upbeat as investors gained N262 billion amid positive sentiment in Transcorp Power and 40 stocks. Read more…

Egbin Power marks 10 years of scholarship awards 
Egbin Power Plc has restated its commitment to education and sustainable community development as it marked the 10th edition of the Egbin Power Scholarship Awards. Read more… Read more…

5% fuel surcharge: Myths, facts and how it aids Nigeria’s transport infrastructure
It’s me again, here to clear the air. I am confident in this government and its vision, so I want to set the record straight. If you have been scrolling through social media or catching the news, Read more…

Groups urge FG to decentralize pipeline surveillance contracts
A socio-cultural organization, the Southern Ijaw Unity Forum (SIUF), and the Committee for Transparency and Good Governance (CTGG), yesterday, warned against leaving the responsibility of securing oil pipelines in the Niger Delta to individuals. Read more…

DAPPMAN warns of looming fuel supply disruption
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has raised the alarm over rising tension in the downstream oil and gas industry, warning that an industrial action could cripple petroleum supply and distribution nationwide, Read more…

Transmission Company Warns Against Building Under Power Lines
The Transmission Company of Nigeria (TCN) has warned against building or engaging in any activities under transmission lines, following a thunderstorm fire that severely damaged property along the 132kV Otukpo–Nsukka–New Haven transmission line. Read more…

Schneider Electric Deploys Non-critical Applications In West Africa
Schneider Electric has announced the immediate availability of the GoPact MCCB (Moulded Case Circuit Breaker) and the GoPact MTS (Manual Transfer Switch) to the West African region. Read more…

Fuel Surcharge Aimed At Fixing Nigeria’s Roads’, Says Tax Reform Chair Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele said the proposed fuel surcharge was not to add additional burden on Nigerians but to generate dedicated revenue to fix the country’s decaying road network. Read more…

Lokpobiri Woos EPC Investors With Reduced Royalties, Enhanced Cost Recovery
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called on Engineering, Procurement, and Construction (EPC) companies to reinvest in Nigeria’s oil and gas sector, Read more…

Army Smashes Gunrunning Syndicate, Arrests 35 Suspected Oil Thieves In Niger Delta
Troops of 6 Division of the Nigerian Army have smashed gunrunning syndicate noted for trafficking small arms and light weapons to criminals across the Niger Delta region. Read more…

Nigeria’s Image Not Broadly Investor Friendly- Former Oil Minister 
Former Minister of State for Petroleum Resources, Prof. Emmanuel Ibe Kachikwu, has said that Nigeria should take a critical consideration of existing policies and regulations and then implement those that would create enabling environment Read more…

UNEP Plans Workshop To Assist Nigeria Mitigate Poisonous Oil And Gas Emissions 
A dedicated workshop by the United Nations Environment Programme (UNEP) specifically aimed at reducing greenhouse emissions in Nigeria’s oil and gas sector is taking place this September in Nigeria where key Government Agencies would meet to hold crucial discussions on the issue. Read more…

Nigeria Develops Key Pillars To Drive Renewables Energy Transformation 
Nigeria has entered into a pivotal Memorandum of Understanding (MoU) with key stakeholders to drive renewable energy development. Read more…

DAPPMA Seeks Stronger Partnerships Among Downstream Oil And Gas Stakeholders 
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has expressed disappointment over the rising tension within the downstream oil and gas industry and the possibility of an industrial action that could disrupt national petroleum supply and distribution. Read more…

Nigeria Leads African Contingent To Present Continents Energy Needs At Milan Summit
Key European nations especially those itching to support energy transition in Africa, are awaiting a contingent from Africa led by Nigeria to provide information about key energy opportunities Read more…

CDN Oil And Lubricants Ltd Expands Operations In Northern Nigeria
The CDN Oil and Lubricants Limited, has announced its expansion operations to Borno State, North-East Nigeria, to become the household name for quality, affordable oil and lubricants in Nigeria. Read more…