Nigerians may no longer depend on imported petrol to the same extent as before, but that shift has not eliminated the factors keeping pump prices elevated. Aliko Dangote, President of Dangote Group, has explained that producing petrol locally does not automatically make the commodity cheap because the refinery still operates within a market influenced by […]
Nigeria’s renewed drilling activity is yet to translate into the kind of sustained crude oil production growth that would significantly strengthen government revenue, foreign-exchange earnings and the country’s position in the global oil market. The latest figures point to a more complicated picture than simply a shortage of rigs. While drilling activity has continued over […]
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…Payment Deadline Set for August 2025 The House of Representatives Committee on Public Accounts has successfully secured a commitment from seven leading oil and gas companies in Nigeria to remit a total sum of $37,435,094.52 (approximately ₦58 billion) to the Federation Account before August 2025. This resolution follows an in-depth financial audit by the Nigerian […]
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Discover the winners of the 2024 oil licensing bid round announced by NUPRC. Learn about Nigeria’s strategic efforts to boost oil production and attract investment under the Petroleum Industry Act. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially announced 25 winners in the 2024 oil licensing bid round. This landmark event, held in Lagos, […]
