Our industry news page curates and displays headlines along with brief descriptions of the latest developments in the oil, gas, and energy industry in Nigeria. The content is sourced from various media outlets across the country, offering a comprehensive overview of the sector’s current events and trends.
Sep 04, 2024
Nigerians groan as NNPCL hikes fuel pump price to N855 per litre:
Two days after it cried out that the burden of petrol price has pushed it into over $6 billion debt, the Nigerian National Petroleum Corporation, Limited, NNPCL, on Tuesday morning, increased its pump price of fuel to N855 per litre from N617 per litre.
Sigh of relief as Dangote Refinery launches Euro-V petrol:
For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group.
Nigeria as Africa’s Refining Hub: Unleashing the Nation’s Petroleum Potential:
Nigeria is on the brink of becoming Africa’s leading refining hub—a vision that, while ambitious, is within reach. As the Crude Oil Refinery Owners Association of Nigeria (CORAN) prepares for the 2024 Refining Summit.
Over 6000 people have benefitted from NNPC, SNEPCo Vision First Plus programme in Bariga Local Council Development Area (LCDA) of Lagos State:
No fewer than 6575 people benefitted from an eyecare outreach held in Bariga Local Council Development Area (LCDA) of Lagos State, August 26—30.
Dangote set to supply 25m litres of petrol in September, commences public sale in 48hours:
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Dangote Refinery will supply 25 million litres of petrol to the Nigerian market in the month of September.
Fuel import: Logistics costs rise by 480% to N133bn:
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it spent N132.610 billion on logistics for the importation of Premium Motor Spirit (PMS), also known as petrol or fuel, in 2023.
Nigeria earns N1.53trn from oil, gas in three months:
Nigeria earned N1.531 trillion from oil and gas in the first quarter of 2024, rising by 39.56 per cent compared with oil and gas earnings of N1.097 trillion recorded in the fourth quarter of 2023.
NNPC’s 5, 710 staff received N583.8bn as salaries, allowances in 2023:
The Nigerian National Petroleum Limited (NNPCL) said it paid N583.797 billion to its staff as salaries, wages and other benefits in 2023, rising by 118.71 per cent from N266.933 billion in 2022.
Otedola hails Tinubu on commencement of petrol production at Dangote Refinery:
Billionaire businessman and Geregu Power Plc Chairman Mr. Femi Otedola, yesterday hailed President Bola Tinubu on his support for the $20 billion Dangote Refinery located in Lekki, a Lagos suburb.
Dangote Refinery petrol ready for sale at fuel stations:
As Dangote Refinery rolled out petrol from its plant yesterday, Nigerians will be able to buy the product produced by the firm from tomorrow. In a major domestication of the energy needs in the country.
Why NNPCL filling stations adjusted prices, by experts:
On the day Dangote Refinery commenced the supply of petrol with a promise to make the product available in the market in 48 hours, the Nigerian National Petroleum Company (NNPC) Limited filling stations adjusted their meters to reflect new prices.
Fed Govt assures on $5b African Energy Bank agreement:
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobri has promised that Nigeria will honour the host country agreement for the $5billion African Energy Bank.
Fuel subsidies: Govt has been transparent, says Presidency:
Presidency has addressed some misconceptions on fuel subsidies. Some reports had criticized the federal government and alleged deceit, following Nigerian National Petroleum Company (NNPC) Limited’s declaration of suppliers’ debts of $6 billion and gap between cost and retail price.
FG betrayed trust with increase in pump price – NLC:
The Nigeria Labour Congress (NLC) said it feels betrayed by the Federal Government following the latest increase in the pump price of premium motor spirit otherwise known as petrol by the Nigeria National Petroleum Company Limited on Tuesday.
Why Dangote petrol is clear as water, by analyst:
Dangote Petroleum Refinery Premium Motor Spirit (PMS) petrol which was rolled out into the domestic market on Tuesday, September 3, came with its distinguishing feature.
NSCDC operatives dismantle illegal bunkering site in Rivers:
Operatives of the Nigeria Security and Civil Defence Corps (NSCDC) have discovered and dismantled an illegal bunkering site in the forest of Rivers state.
FULL LIST: Nigerians pay one of lowest prices for petrol – Report:
Nigeria is on the list of countries with the lowest price for fuel per litre in the world, a report on the internet has revealed. The list shows countries with the highest fuel prices to countries with the lowest.
NNPCL reaches agreement to sell crude to Dangote in Naira:
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday confirmed that the Nigerian National Petroleum Company Limited (NNPCL) has reached an agreement to sell crude oil to Dangote Petroleum Refinery in Naira.
Scarcity: NNPC constitutes economic danger, sell it:
THE Nigerian National Petroleum Company Limited has again proven to be a monumental failure and a national embarrassment. After several denials and no more room to manoeuvre.
Lagos task force nabs six illegal fuel marketers:
Operatives of the Lagos State Task Force on Tuesday arrested six persons suspected of being involved in the illegal sale of petroleum products in different parts of the state.
Benue transformer vandal electrocuted:
A middle-aged man, whose identity is yet to be established, was electrocuted early on Tuesday while attempting to vandalize a transformer and cables belonging to the Jos Electricity Distribution Company.
Power generation hits 5,313MW, first time in three years:
Nigeria’s power generation rose to a three-year high of 5,313 megawatts on Monday, the Federal Ministry of Power has declared. It declared this in a statement issued by the media aide to the power minister.
NNPCL may stop petrol import as depots price nears N1,000/ltr:
The pump prices of Premium Motor Spirit, popularly known as petrol, may rise above N1,000/litre in filling stations as the cost of the commodity in some private depots has been increased to between N920 and N950/litre.
Naira for crude will remove 40% of FX demands – Dangote:
Billionaire businessman, Aliko Dangote, has said that the introduction of naira for crude will reduce the demand for foreign exchange by 40 per cent.
FG urged to support local auto assemblers on CNG:
The Managing Director of Lanre Shittu Motors, Taiwo Shittu, has appealed to President Bola Tinubu to support indigenous auto assembling companies to enable them to mass-produce compressed natural gas-powered vehicles to sustain the CNG campaign.
Govt distributes CNG buses in Lagos:
The Presidential Compressed Natural Gas Initiative distributed 20 buses powered by Compressed Natural Gas in Lagos.
Oando vows legal action on NAOC transactions:
Oando Plc has vowed to take legal action against recent false claims concerning the NAOC/Oando transaction timelines.
NCDMB boosts writers’ digital capacity:
The Nigerian Content Development and Monitoring Board has revealed that it held a book reading event specifically aimed at guiding writers on how to leverage digital resources to enhance their craft.