Reps suspend 2026-2028 MTEF over inconsistent oil prices
The House of Representatives has halted its review of the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper. This decision followed a…
Oil and Gas
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Trump is more than happy with our refinery — Dangote
President of Dangote Refinery, Alhaji Aliko Dangote, has dismissed claims that United States President Donald Trump is unhappy with the establishment of…
Dangote partners MRS, others to sell petrol at N739
Barring any last-minute change, MRS and other partners of the Dangote Petroleum Refinery are set to begin selling petrol at N739 per…
Dangote Refinery slashes petrol price to N699
The Dangote Petroleum Refinery has announced a major reduction in the ex-depot price of Premium Motor Spirit, bringing the rate down from…
NNPCL targets 2mbpd crude oil in 2026
The Nigerian National Petroleum Company Limited has officially set its crude oil production target for the year 2026 at more than two…
Nigeria’s oil output drops to 1.486mbpd, below OPEC quota
The Organisation of Petroleum Exporting Countries has reported that Nigeria’s oil production, excluding condensate, experienced a 0.7 per cent drop, falling to…
Nigeria launches Africa’s first gas market
The Federal Government of Nigeria officially launched Africa’s first gas trading market on a Thursday, marking a major step towards fully utilizing…
Petrol supply jumps 37.7% as refineries remain shut — NMDPRA
Domestic supply of Premium Motor Spirit, which is widely known as petrol, recorded a significant increase in November 2025, according to data…
NNPCL subsidiary hits 355,000 bpd, highest output since 1989
NNPC Limited on Tuesday disclosed that oil production by its upstream subsidiary, NNPC E&P Limited, has reached 355,000 barrels per day. The…
Diesel price surges by 9.45% to N1,398/litre
The average retail price of diesel (Automotive Gas Oil) rose in October 2025, climbing by 9.45 per cent month-on-month to N1,398.57 per…
Nigeria’s oil output to hit 1.73mbpd in 2026 — Report
BMI, a Fitch Solutions company, has projected that Nigeria’s oil production is expected to record a modest uptick in 2026, to be…
FEC sets 2026 oil benchmark at $64, ₦1,512/$ exchange rate
The Federal Executive Council has given its approval to the 2026–2028 Medium-Term Expenditure Framework. This comprehensive document outlines Nigeria’s key economic assumptions,…