Industry News

Southern Africa’s energy frontier: Unlocking gas opportunities and growth
VUKA Group, through its media partner ESI Africa, is proud to announce the 5th Annual Southern Africa Oil & Gas Conference (SAOGC 2026), taking place 16–17 March 2026 at the Century City Convention Centre, Read more…

Oil gains 9% as Iran says Strait of Hormuz closure to continue
Oil prices rose about 9% on Thursday as Iran stepped up attacks on ​oil and transport facilities across the Middle East, and the country’s supreme leader said the closure of the vital Strait of Hormuz should continue. Read more…

Ondo Rep cautions against decentralization of pipeline surveillance
Member representing the oil rich Ilaje/Ese-Odo Federal Constituency in the House of Representatives, Donald Kimikanboh Ojogo has urged President Bola Ahmed Tinubu to ignore calls for the decentralization of the pipeline surveillance policy in the Niger Delta. Read more…

FG targets lower fuel imports with cassava Bio-Ethanol project
The Federal Government has taken steps to increase the production of fuel-grade ethanol in Nigeria as part of efforts to reduce the country’s dependence on imported energy products and ease pressure on foreign exchange. Read more…

FG declares Ikom Dam strategic national project
The Federal Government has designated the Ikom Multipurpose Dam and Hydropower Project as a strategic national intervention aimed at boosting renewable energy supply, Read more…

68% of power plants idle in February, says NERC
Sixty-eight percent of the installed capacity of the power plants connected to the national grid was available for dispatch in February 2026, according to the Nigerian Electricity Regulatory Commission (NERC). Read more…

Tinubu mourns former OMPADEC administrator, Nnamani, at 82
President Bola Ahmed Tinubu has condoled with the family of former Administrative Secretary of the Oil Mineral Producing Area Development Commission (OMPADEC), Sir Albert Ikechukwu Nnamani, Read more…

Nigeria’s $90bn revenue loss triggered major economic reforms – CBN
The Central Bank of Nigeria (CBN) has said the loss of about $90 billion in oil revenue over 11 years forced the Federal Government to introduce the sweeping economic reforms currently being implemented in the country. Read more…

FCCPC monitoring fuel prices amid Middle East war, says Bello
The Federal Competition and Consumer Protection Commission (FCCPC) says it is closely monitoring the impact of the ongoing United States-Israel war with Iran on petrol prices and other consumer goods in Nigeria, Read more…

Delta, NDDC, Chevron move to strengthen partnership on Omadino–Okerenkoko–Escravos road project
The Delta State Government, the Niger Delta Development Commission (NDDC) and Chevron Nigeria Limited have moved to strengthen collaboration for the construction of the proposed Omadino–Okerenkoko–Escravos road and bridges project in Delta State. Read more… Read more…

Osogbo communities decry poor power supply, urge Tinubu, NERC to intervene
Residents of 11 communities in Osogbo, the Osun State capital, have decried the persistent epileptic power supply in their areas and called on the Ibadan Electricity Distribution Company (IBEDC), Read more…

The energy map in 2026: OPEC+ and the Custodial crude paradox
Oil markets are no longer defined by simple shifts in supply and demand. While physical balances still matter, price formation is increasingly shaped by who controls access to barrels, Read more…

Private grid-connected substations get NERC’s 45 days to register
The Nigerian Electricity Regulatory Commission (NERC) yesterday ordered owners of private grid-connected transmission substations to register within 45 day. Read more…

Govt, World Bank unveil $500mfor hydropower
The Federal Government, in partnership with the World Bank, has inaugurated a $500 million Sustainable Power and Irrigation for Nigeria (SPIN) Project aimed at strengthening irrigation systems, Read more…

GAMCO: Power grid solution to Nigeria’s electricity challenge
Nigeria is preparing another attempt to tackle one of its most stubborn economic problems: a power sector that has gulped billions of dollars in investment, yet still struggling to keep the lights on. Read more…

Chevron Nigeria Limited Reiterates Commitment to Development of The Niger Delta
Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and CNL confirms its commitment to socio-economic development in the Niger Delta. Read more…

Dangote Alleges Continued Fuel Import Licences Despite NMDPRA Assurances
President of Dangote Industries Limited, Aliko Dangote, has alleged that Nigeria’s downstream regulator is still issuing licences for the importation of petrol, Read more…

Anambra: Court orders Okpoko residents to issue EEDC 14-day ultimatum to restore light to community
The Federal High Court sitting in Awka, Anambra state capital and presided over by Hon. Justice M. B. Usman, Thursday, ordered Okpoko community electricity consumers, Read more…

Reps probe Ogun-Ondo border dispute over Eba Island oil well
The House of Representatives on Thursday mandated its relevant committees to investigate the territorial status of Eba Island, a geographical area currently being contested by Ogun State and Ondo State. Read more…

Monopoly fears rise as Dangote controls N14.4tn petrol market
Stakeholders, including energy experts, economists, and Nigerian workers, have raised alarm over the suspension of petrol imports by the Federal Government, urging urgent price regulation as Dangote Petroleum Refinery takes command of Nigeria’s N14.4tn petrol market, Read more…

FG moves to finalize PPP for 250MW Ikom dam project
The Infrastructure Concession Regulatory Commission has convened the inaugural meeting of the Presidential Project Development Committee for the Ikom Multipurpose Dam and Hydropower Project, Read more…

Oil tops $100 as Iran attacks offset IEA stockpile release
Oil prices surged above $100 while global stocks fell on Thursday as renewed Iranian attacks targeting energy infrastructure in the Middle East and threats to the global economy overshadowed a record release of strategic crude reserves by the International Energy Agency. Read more…

Domestic shortage worsens as crude output falls to 1.3mbpd
Nigeria’s crude oil production dropped to 1.31 million barrels per day in February, even as local refineries continue to grapple with inadequate domestic crude supply needed to sustain operations. Read more…

States urged to revive modular refineries amid monopoly fears
The Lagos Chamber of Commerce and Industry has urged state governments to rehabilitate existing state-owned modular refineries and encourage more refining projects to deepen competition in Nigeria’s downstream petroleum sector. Read more…

Nigerians most exploited by telecom, energy firms – FCCPC
Energy, fintech, and telecommunications companies generate the highest number of consumer complaints in Nigeria, the Federal Competition and Consumer Protection Commission has declared. Read more…