May report: Dangote supplies 87.55% of petrol, diesel imports collapse
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Dangote Petroleum Refinery supplied 87.55 per cent of Nigeria’s petrol needs in May 2026, reinforcing its dominant position…
Oil prices drop further, Asian stocks rally as US-Iran peace deal takes effect
Oil prices fell on Thursday while major Asian stock markets surged after the United States and Iran signed an interim peace agreement aimed at ending months of conflict and restoring…
Oil falls to around $80 per barrel as US-Iran deal eases supply fears
Global oil prices dropped sharply on Monday after the United States and Iran announced a framework agreement to end their conflict and reopen the strategic Strait of Hormuz shipping route.…
AGPC MD seeks stability, infrastructure to boost domestic gas
The Managing Director of ANOH Gas Processing Company (AGPC), Mr. James Makinde, has called for reforms in Nigeria’s domestic gas sector, stating that regulatory stability, infrastructure development, and contract sanctity…
Dangote Refinery slashes petrol price to N1,250/litre
Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, lowering the rate from N1,275 to N1,250 per litre amid a decline in global crude oil prices.…
Otedola to invest ₦137.22bn in Dangote Refinery
Billionaire businessman Femi Otedola has announced plans to invest $100 million (approx. ₦138 billion) in the Dangote refinery ahead of its planned initial public offering (IPO). Otedola disclosed this on…
Few months after appointment, Tinubu sacks NMDPRA boss, picks new CEO
President Bola Tinubu has removed Mr Saidu Mohammed as Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in what the Presidency described as a decision taken…
FG panel proposes adding aviation fuel to naira-for-crude scheme
A federal government technical committee has recommended the inclusion of aviation fuel, also known as Jet A1, in the naira-for-crude initiative as part of efforts to stabilise supply and reduce…
FG defends OPL 245 resolution, accuses Atiku of self-interest
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has defended the Federal Government’s resolution of the long-standing dispute over OPL 245, describing it as a landmark…
Tinubu sets up task force to drive petroleum sector reforms
President Bola Tinubu has approved the establishment of a Presidential Petroleum Reform and Value Optimisation Taskforce to design and coordinate the next phase of structural reforms in Nigeria’s petroleum sector.…
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