The Federal Government has halted the issuance of import licenses for gasoline, a major win for billionaire Aliko Dangote, who controls Africa’s largest refinery and has long called for the move. This decision is coming on the heels of data supplied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which stated that Dangote…
President Bola Tinubu has finally approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project. This presidential nod is coming after 18 years of deadlock. With the approval, the Bonga Southwest project becomes the first FID on a Nigeria deepwater Production Sharing…
Dangote Petroleum Refinery has announced a major reduction in the prices of Premium Motor Spirit (PMS), known as petrol and Automotive Gas Oil (AGO), also known as diesel. Under the new pricing regime, the gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre—a reduction of ₦100. The coastal price has also…
State-run oil firm, the Nigerian National Petroleum Company Limited (NNPCL) said it generated N2.57 trillion revenue in January this year. According to the NNPCL monthly report of January 2026, it also posted N385 billion profit after tax (PaT). NNPCL further disclosed that in the period under review, N726 billion was remitted into the Federation account…
Schneider Electric has announced the second edition of the Innovation Summit Middle East & Africa (MEA) will bring together global technology leaders as well as government officials to advance the regional shift towards energy intelligence, as data center growth, artificial intelligence (AI) adoption, and national visions place unprecedented demands on energy systems. Scheduled for Abu…
Africa’s largest oil producer, Nigeria, underperformed its 1.5 million barrels per day (bpd) quota in nine months of 2025 and again in January 2026, according to Nigerian Upstream Petroleum Regulatory Commission (NUPRC) figures. Using the Central Bank of Nigeria (CBN’s) average Bonny Light price of $72.08 per barrel over the 10 months for which data…
Oil marketer, Eterna Plc and a smart automation technology company, Fuelmetrics Limited, at the weekend struck a partnership on the rollout of self-service fuel terminals across the retail network Eterna Plc, marking a practical step forward in the company’s drive to digitize fuel retail and improve service delivery. The terminals enable motorists to authorize and…
Indigenous oil and gas downstream company MEA Energy, said it has adopted the revolutionary SmartPump technology to automate its filling stations across Nigeria, giving customers the hope of fast and easier self-service satisfaction. SmartPump technology is the product of Petrosoft, a global provider of end-to-end retail technology solutions. It offers specialized automation for fuel stations,…
Seplat Energy Plc has announced the achievement of first gas from its 300 million standard cubic feet per day (MMscfd) ANOH gas project, marking a major milestone in Nigeria’s gas development drive. The milestone follows the completion of the 11-kilometre Indorama gas export pipeline and the receipt of regulatory approval from the Nigerian Upstream Petroleum…
