Category: Oil and Gas

Nigeria’s Petrol Price Is 55% Cheaper – Dangote

Shidali Khadijat Ajechi

The President of Dangote Group, Aliko Dangote, revealed that Nigerians currently pay just 55% of what citizens in other West African countries pay for Premium Motor Spirit (petrol), thanks to local refining. Speaking during a high-level visit by the President of the ECOWAS Commission, Dr. Omar Touray, and his delegation to the Dangote Refinery, Dangote emphasized the impact of local production on fuel pricing. He explained that the refinery sells petrol at between N815 and N820 per litre—far below the regional average of around \$1 per litre (approximately N1,600). “Our…

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Tinubu Signs Order to Cut Nigeria Oil Sector Costs, Boost Investment

Tolu Adebayo

Tinubu Signs Executive Order Offering Tax Incentives to Drive Down Oil Sector Costs, Attract Investors Abuja, Nigeria – President Bola Tinubu has signed a significant new Executive Order aimed at drastically reducing operational costs, boosting investment, and increasing revenue returns within Nigeria’s critical oil and gas sector. The President described the decision as a “bold step” designed to enhance efficiency and revive investor confidence in the upstream segment of the petroleum industry. The directive, officially titled the “Upstream Petroleum Operations Cost Efficiency Incentives Order, 2025,” introduces a framework of performance-based…

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Oil, Gas Operations Under Threat: Bayelsa Communities Protest Marginalization

Shidali Khadijat Ajechi

Residents of the oil-rich Egbemo Angalabiri community in Ekeremor Local Government Area of Bayelsa State have staged a peaceful protest to express outrage over alleged marginalization by oil companies operating in their area. The protesters, numbering in their thousands, directly accused Renaissance Africa Energy Company and Oando Plc of impoverishing their community. They claimed the companies consistently refused to employ qualified locals or award them contracts, despite their eligibility under the Local Content Act. Warning of further action, the protesters vowed to shut down all oil and gas operations in…

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Petrol Prices Drop Again as Dangote Acts

Shidali Khadijat Ajechi

Dangote Petroleum Refinery and Petrochemicals has cut the price of its high-quality Premium Motor Spirit (PMS), commonly known as petrol, by another N15. In a statement released on Thursday, the company announced that Nigerians can now buy petrol at the following prices: N875 per litre in Lagos, N885 in the South West, N895 in the North West and North Central, and N905 in the South East, South South, and North East. The new prices will apply at all partner stations, including MRS, AP, Heyden, Optima, TechnOil, and Hyde. The refinery…

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Tinubu Approves Licences for Kolmani Project

Shidali Khadijat Ajechi

President Bola Tinubu has approved all necessary regulatory licences for the Kolmani Integrated Development Project. The multibillion-dollar oil exploration venture spans Bauchi and Gombe states and aims to boost Nigeria’s oil production and economic output. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced the approval during the groundbreaking of the Bauchi Oil and Gas Academy in Alkaleri. He said the approval aligns with the government’s push to activate all hydrocarbon platforms across the country. In a statement on Sunday, Lokpobiri’s media aide, Nneamaka Okafor, confirmed the move…

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Dangote Accuses Powerful Oil Interests of Sabotaging His $20 Billion Refinery

oluwatobi enitan

Aliko Dangote has accused powerful interests of trying to sabotage his massive refinery project in Lagos. He claimed both local and international players are fighting to stop its success. Speaking at an investor forum in Lagos, Dangote said the opposition is strong and well-funded. He pointed to those who profited from Nigeria’s fuel subsidy system as the main culprits. “For years, they made billions from the subsidy regime,” Dangote explained.“Now they’re doing everything possible to block our refinery,” he said. He noted that these groups are also resisting the fuel…

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Dangote Refinery Slashes Diesel Price Again, Offers Further Relief to Businesses

Onwuama Arinze Godswill

Dangote Refinery Slashes Diesel Price Again, Offers Further Relief to Businesses LAGOS, Nigeria – The Dangote Petroleum Refinery has announced a further significant reduction in the price of Automotive Gas Oil (AGO), commonly known as diesel, marking the second such slash in recent weeks. This move is expected to provide additional relief to businesses and consumers grappling with high energy costs. The new price, announced by the refinery management, brings diesel down to approximately N940 per litre for customers buying 5 million litres and above, and around N970 per litre…

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Police Task Force Cracks Down on Petroleum Theft: 600,000 Litres Recovered, 17 Arrested in Nationwide Operations

oluwatobi enitan

The Inspector-General of Police Special Task Force on Petroleum and Illegal Bunkering made significant strides in July, recovering 250,000 litres of crude oil and 350,000 litres of Automotive Gas Oil (AGO) in nationwide operations. In addition to seizing 13 trucks, the task force arrested 17 individuals involved in various illegal activities, including a syndicate smuggling petroleum products to neighbouring countries like Cameroon. During a press briefing in Abuja on Wednesday, Force Spokesperson Muyiwa Adejobi emphasized the Nigeria Police Force’s dedication to combating petroleum theft and illegal bunkering. He vowed that…

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NNPC Ltd Addresses Fuel Supply Shortage in Lagos and FCT

oluwatobi enitan

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has addressed concerns regarding the recent fuel supply and distribution challenges experienced in parts of Lagos and the Federal Capital Territory (FCT). According to a statement from Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the issues are due to a temporary disruption in the discharge operations of several vessels. NNPC Ltd. assures the public that it is actively working with all relevant stakeholders to resolve the situation promptly. Efforts are being made around the clock to restore normal fuel supply…

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NNPC and TotalEnergies Commit $550 Million to Boost Nigeria’s Gas Potential

oluwatobi enitan

In a significant move to enhance Nigeria’s oil and gas production, the NNPC-TotalEnergies joint venture has announced a $550 million final investment decision for the Ubeta Field Development Project. This milestone aligns with President Bola Tinubu’s Presidential Executive Order on Oil and Gas Reforms, which aims to improve the investment climate and position Nigeria as the premier investment destination for the oil and gas sector in Africa. Discovered in 1964, the Ubeta field is located northwest of Port Harcourt in the eastern Niger Delta. It is projected to produce about…

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Federal Government Set to Issue Valid Operating License to Dangote Refinery Soon, Announces NMDPRA

oluwatobi enitan

The Federal Government disclosed on Tuesday its intention to grant a fully valid operating license to the Dangote Petroleum Refinery, which boasts a capacity of 650,000 barrels per day. The announcement was made during the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations, organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja. While the NMDPRA had previously awarded a pre-commissioning license to the $20 billion refinery, it clarified that a fully valid operating license would soon follow. Former President Muhammadu Buhari inaugurated…

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FG Signs Executive Order to Unlock $10bn Investment in Oil and Gas Sector

oluwatobi enitan

President Bola Tinubu has announced the signing of an Executive Order aimed at attracting fresh investments of up to $10 billion into Nigeria’s oil and gas sector. The President made this disclosure during the opening session of a two-day retreat on economic transformation and development organized by the House of Representatives. Represented by his Chief of Staff, Femi Gbajabiamila, President Tinubu revealed that the Executive Order will provide fiscal incentives for non-associated gas, midstream, and deepwater oil and gas projects. Additionally, he mentioned that the Federal Government had recently signed…

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