Industry News

PETROAN pushes NNPC refineries privatization by Q1 2026
The Petroleum Products Retail Outlets Owners Association of Nigeria has renewed its call for the privatization of Nigeria’s four state-owned refineries, urging the Federal Government to transparently conclude the process by the first quarter of 2026. Read more…

LCCI flags engineering, power gaps hindering industrialization
The Lagos Chamber of Commerce and Industry has warned that the country cannot industrialize or expand manufacturing without solving its electricity challenges. Read more…

NNPC directors’ pay soars 58% to N4.1bn
The cost of running the board and workforce of the Nigerian National Petroleum Company Limited rose sharply in 2024, with directors’ fees and expenses climbing to N4.096bn, while total spending on employee benefits surged to N749.7bn, Read more…

Prioritise domestic refining, CPPE urges FG
The Centre for the Promotion of Private Enterprise has called on the Federal Government to urgently support domestic refining and align petroleum policies to favour locally refined petroleum products through targeted fiscal, Read more… Read more…

NNPC, 12 others fail ICPC integrity test
The Nigerian National Petroleum Company Limited and 12 other ministries, departments, and agencies of the Federal Government recorded zero in the Ethics and Integrity Compliance Scorecard of the Independent Corrupt Practices and Other Related Offences Commission. Read more…

Solar systems save NIPCO N44.4m annually, says JMG
JMG Limited, a hybrid and integrated electromechanical energy provider, says it has successfully installed solar power systems at three major NIPCO Plc fueling stations, delivering dependable clean energy, Read more… Read more…

WIEN hails Eyesan’s appointment as NUPRC boss
The Women in Energy Network has commended President Bola Tinubu for appointing Oritsemeyiwa Eyesan as Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission. Read more…

Axxela recognized for cutting carbon emissions
Axxela Limited, a gas and power portfolio company in sub-Saharan Africa, has been acknowledged for its role in Nigeria’s energy transition and efforts to promote sustainable energy access for industrial development. Read more…

OML 30 rebounds as Heritage Energy ramps up production
Heritage Energy Operational Services Limited, operators of Oil Mining Lease 30, on Tuesday signaled a turnaround in the asset’s fortunes, declaring that years of behind-the-scenes restructuring, Read more…

Operators will miss Ahmed as NMDPRA boss —MEMAN
The Major Energies Marketers Association of Nigeria has said Nigeria will miss Farouk Ahmed following his resignation as Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Read more…

New NUPRC boss vows oil production growth, transparency
The newly appointed Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mrs. Oritsemeyiwa Eyesan, has assumed office, pledging to reposition Nigeria’s upstream oil and gas sector, Read more…

Group urges proper framework for maritime revenues
The Sea Empowerment and Research Centre has called for the need to properly frame existing maritime-linked revenues, especially those accruing from international trade and port activities administered by the Nigeria Customs Service. Read more…

N739/litre Dangote petrol causes queues at MRS stations
Queues at MRS filling stations are growing longer by the day as motorists seek to buy petrol produced by the Dangote refinery at N739 per litre. Read more…

N-HYPPADEC distances itself from purported recruitment
The management of the National Hydroelectric Power Producing Areas Development Commission (N-HYPPADEC) has discredited a purported invitation for a technical and practical screening exercise for recruitment into the Commission, Read more…

FG, RSE Energy partner on embedded power solutions for industries
The Minister of State for Industry, Trade, and Investment, Senator John Owan Enoh The Federal Government has entered into a Memorandum of Understanding (MoU) with RSE Energy to deploy off-grid and embedded power solutions for industrial clusters nationwide. Read more…

Alex Ekwueme Varsity Teaching Hospital Decries ‘Outrageous’ Electricity Bills
The management of Alex Ekwueme Federal University Teaching Hospital, Abakaliki (AE-FUTHA), has expressed sadness over outrageous electricity bills issued to the hospital by the Enugu Electricity Distribution Company (EEDC). Read more…

System Operator Assures Nigerians Of Improved Power Supply in 48 Hours
The Nigerian Independent System Operator (NISO) says electricity supply across the country would improve within the next 24 to 48 hours. Read more…

Obi demands public accountability over NMDPRA controversy
Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has called for deeper public accountability and moral responsibility following allegations surrounding the immediate past Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Read more…

Russia extends deadline for sale of Exxon’s Sakhalin-1 stake to 2027
Russian President Vladimir Putin has extended by one year the deadline for the sale of U.S. oil major ExxonMobil’s stake in the Sakhalin-1 oil and gas project until January 1, 2027, according to a decree published on Wednesday. Read more…

NNPCL re-entry signals oil revival, jobs, economic reset for Ogoniland – Ojulari
The Nigerian National Petroleum Company Limited, NNPC Ltd, has signaled a major step toward restoring oil production and economic activity in Ogoniland, reaffirming its commitment to peace, responsible energy development and community-based growth in the oil-rich region. Read more…

Rivers council boss urges communities to safeguard electricity projects
Mr. Charles Wobodo, Chairman of Ikwerre Local Government Area in Rivers State, has called on residents of Ozuaha, Omademe, and Ipo communities to actively protect ongoing electricity projects and ensure uninterrupted power supply. Read more…

Nigeria posts 3.98% GDP growth, $44.56bn reserves
Nigeria’s economy demonstrated resilience and growth in 2025, recording a 3.98 per cent expansion in Gross Domestic Product, GDP, in the third quarter, the Federal Government disclosed during its end-of-year press conference. Read more…

ICPC integrity ranking reflects Komolafe’s leadership, transparency drive at NUPRC – Oil sector group
The Energy Accountability and Governance Network (EAGN) has commended Gbenga Komolafe, the former chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Read more…

Aviation, Petroleum ministries to stop use of papers
The Head of the Civil Service of the Federation (HCSF) yesterday directed the Ministry of Petroleum Resources to stop the use of physical papers in all its work processes. Read more…

Oil price sustains six days rise
Crude oil prices continued its rise yesterday, making it the sixth day in a roll. The sustained rise is supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia, though prices were on course for their steepest annual decline since 2020. Read more…

Zero piracy, IMO seat drive maritime sector, says NIMASA
Its Director-General Dr. Dayo Mobereola, in a statement signed by the Deputy Director and Head of Public Relations, Osagie Edward, said the achievements underscored growing investor confidence, Read more…