Industry News

NNPC’s UK subsidiary posts N616m loss, despite higher earnings
The Nigerian National Petroleum Company, NNPC’s,  offshore subsidiary, NNPC Trading Services (UK) Limited, has declared a loss of £334,702, about N615.852 million, Read more…

Egypt, Masdar fast-track 2GW wind, solar and battery projects
Egypt and the United Arab Emirates-based Abu Dhabi Future  Energy Company, Masdar, are accelerating the development of major wind, Read more…

State electricity markets struggle to attract investors
Nigeria’s push to decentralize its electricity market is opening new opportunities for state governments, but investors remain cautious as questions over tariffs, payment security, Read more…

Africa’s solar boom set to hit 17GW as imports surge
Africa is projected to add 17 gigawatts of solar power capacity in 2026, representing a 45 per cent increase from the previous year, Read more…

Malawi clears 51MW North Rumphi hydropower project for grid connection
Nyika Hydropower Group Limited has signed a Transmission Connection Agreement with the Electricity Supply Corporation of Malawi, ESCOM, for its planned 51MW Read more…

Nomba, Synafare commit N2b to power solar energy for SMEs
Nomba, a financial services company for African businesses, and Synafare, a fintech powering financing for the renewable energy sector, Read more… Read more…

Oil rises to $90 as Iran-U.S. strikes reignite Strait of Hormuz supply fears
Crude oil prices climbed above $90 per barrel yesterday after fresh military exchanges between the United States (U.S.) and Iran reignited fears of supply disruptions through the Strait of Hormuz, Read more… Read more.. Read more…

‘Petrol imports must be tied to genuine gap’
Chief Executive Officer, Center for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has said any consideration for petrol importation must be to close a genuine and independently verified shortfall. Read more…

Schneider Electric to boost job creation
Schneider Electric has reinforced its commitment to complementing the efforts of the Federal Government in the area of job creation by building future work-ready engineers in Africa. Read more…

‘11 DisCos failed to collect N669.49b revenue in 2025’
The Nigerian Electricity Regulatory Commission (NERC) has revealed that 11 electricity Distribution Companies (DisCos) failed to collect N669.49b revenue in 2025. Read more…

605 petrol only first step to  affordable energy, says   Olawepo-Hashim
An  Accord Party chieftain , Dr Gbenga Olawepo-Hashim, has said his proposed N605 per litre petrol price is only the starting point of a broader energy policy Read more…

ADC rejects Presidency’s N19tr estimate for Atiku’s petrol subsidy plan
The African Democratic Congress (ADC) has rejected the Presidency’s argument that its presidential candidate,  Atiku Abubakar’s  proposal to reduce fuel  prices Read more…

Nigeria’s GDP rises 4.4% as oil sector rebounds
The National Bureau of Statistics (NBS), yesterday,  said that the Nigerian economy expanded in real terms by 4.43 percent  year-on-year, YoY, in the second quarter of 2026, Read more…

Electricity subsidy bill hits N1.92trn in 2025 — NERC
The electricity tariff subsidy obligation of the Federal Government (FG) stood at N1.92 trillion in 2025, as the government continues to absorb the gap between cost-reflective electricity tariffs Read more…

Dangote Refinery secures court orders against NMDPRA
A Federal High Court, Lagos, has restrained the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, a federal agency charged with the responsibility to regulate, Read more… Read more…

Delta residents demand BEDC intervention over prolonged power outage
Residents of Fear God Street, Bonsaac, Asaba, Delta State, have accused the Benin Electricity Distribution Company and members of the community electricity committee Read more…

Give local refineries 450,000bpd crude allocation, Falana tells govt
As debates over the removal of fuel subsidies intensify, human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Federal Government to deploy the 450,000 barrels of crude oil Read more…

Marketers slam Dangote’s plan to stop petrol sales to importers
Importers and petroleum marketers have kicked against the reported plan by the Dangote Petroleum Refinery and Petrochemicals to stop selling Premium Motor Spirit (petrol) to marketers who import petrol, Read more…

FG retains $300 helicopter landing levy for operators
Oil operators, licensees, lessees and helicopter service providers in the upstream petroleum sector will continue to pay a $300 levy for every helicopter landing, Read more… Read more…

Electricity losses cost DisCos N2.47tn in six years
Meter bypass, electricity theft, poor metering and other commercial and technical losses cost Nigeria’s electricity distribution companies about N2.47tn in unbilled electricity between 2020 and 2025, Read more…

Gas Group plans NGX listing, eyes energy expansion
Gas Group Plc has announced plans to list its existing ordinary shares on the main board of the Nigerian Exchange Limited as part of efforts to strengthen its corporate governance, Read more…

Fuel: Domestic pump prices jump as crude market goes bullish
The Nigerian National Petroleum Company Limited (NNPCL) has increased its Premium Motor Spirit, PMS pump price in less than one week. Read more…

Nigeria’s Refining Contradiction: Local Fuel, Global Exposure
Nigeria now hosts one of the world’s largest single-train refineries, yet it continues to depend on petrol imports whenever domestic supply falters. Read more…