The Nigerian petroleum downstream sector is set to witness another major milestone as Backbone Infrastructure Nigeria Limited (BINL) has announced plans to construct a $15 billion refinery with a capacity …
Fuel prices at filling stations across Lagos and Ogun States have started falling below the N900 per litre mark following a N40 reduction in ex-depot prices by Dangote Petroleum Refinery. …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has generated a total of N28.11 billion in miscellaneous oil revenue between January and May 2025. This amount, which was fully remitted to …
The International Monetary Fund (IMF) has praised the Central Bank of Nigeria (CBN) for the bold reforms it introduced to stabilise the economy, but warned that Nigeria may exceed its …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that many oil companies in Nigeria opposed the Federal Government’s directive to supply crude oil to local refineries, including the Dangote …
The Nigerian oil and gas industry is battling serious investment and operational setbacks caused by excessive bureaucracy and a complex regulatory framework, according to Neconde Energy Limited, one of the …
The International Monetary Fund (IMF) has raised serious concerns over Nigeria’s economic outlook for 2025, warning that the country may face a deeper financial crisis if it does not urgently …
Nigeria’s financial future is facing tough times as the International Monetary Fund (IMF) has warned that the 2025 national budget may not hold up due to falling oil prices, reduced …
Many petrol marketers in Nigeria have refused to reduce their pump prices even after Dangote Petroleum Refinery cut its ex-depot price of petrol from N880 to N840 per litre. The …
The Nigerian National Petroleum Company Limited (NNPC) has announced a strong 14 percent rise in its after-tax profit for the month of May 2025, reaching ₦1.054 trillion. This marks a …