…as cooking gas, has remained fairly stable in price since July 2026 amid volatility in crude oil prices. DAILY POST reports that cooking gas prices in May and June 2026 rose to as high as N2,000 per kilogram from around N1,200 per kilogram across major cities in Nigeria, including Abuja and Lagos. However, increased im…

…across most major markets in Nigeria between August 17 and 21, 2026, driven by rising crude oil prices and supply concerns around the Strait of Hormuz.Calabar recorded the biggest increase, with Mainland’s price rising by N33 per litre, while Port Harcourt and Lagos also recorded notable increasesDangote Refinery also…

…industrialization of the state to end over-reliance on federal allocations based on crude oil. It is doubtful if the final document received two glances before the government became history in 2015. Below was an article published in October 2007 before the Delta Economic Summit took place in Asaba: DELTA WITHOUT OIL: L…

…its regulations and maintain transparent and time-bound licensing processes. Beyond crude oil, PENGASSAN said Nigeria must urgently convert its vast gas reserves into industrial and economic value. The union noted that Nigeria has more than 215 trillion cubic feet of proven gas reserves but continues to struggle with i…

…through contract restructuring and optimisation, alongside a six per cent rise in crude oil production and an 8.1 per cent increase in gas output.Crude production has reportedly risen to about 1.71 million barrels per day, its highest level in five years.CFEAD said the increase could have major implications for governm…

The Nigerian Navy has vowed to sustain stronger operations against piracy, sea robbery, crude oil theft, illegal oil bunkering, smuggling and other forms of maritime criminality in Cross River State. The Flag Officer Commanding, Eastern Naval Command, Rear Admiral Chiedozie Okehie, made this known on Thursday during th…

…that oil losses through pipelines had fallen to historical lows. Nigeria’s combined crude oil and condensate production also rose to approximately 1.735 million barrels per day in June, following improved security of oil assets. The production milestone represented a fourth consecutive monthly increase and was attribut…

…that Nigeria’s economy would grow by 4.2 per cent in H2 2026, supported by higher crude oil production and stronger performance in dominant sectors. It expects inflation to moderate further and the naira to remain broadly stable, although both could face pressure from supply shocks, pre-election spending, global oil pr…

…if the price increase flows through to the retail level.The adjustment comes as global crude oil markets remain under pressure. Brent crude has recently traded above $93 a barrel, driven by geopolitical tensions linked to Iran and disruptions around the Strait of Hormuz. Movements in international crude prices typicall…

…refineries to commercially viable operations while substantially increasing Nigeria’s crude oil production. He noted that the three government-owned refineries should achieve a combined reliable throughput of at least 325,000 barrels per day, which is capable of meeting domestic demand and enabling Nigeria to export re…

…said the oil sector is expected to sustain its growth, supported by improved domestic crude oil production, reflecting better security conditions and the gradual implementation of upstream reforms. The group said increased domestic refining activity would also strengthen industrial output, reduce dependence on imported…

…economic growth, job creation and export revenue, while reducing Nigeria’s dependence on crude oil. By supporting projects at the high-risk early exploration and research stages, the Fund hopes to help developers generate the technical data and capacity required to make their projects commercially viable and attractive…

…its operational capacity to combat piracy, sea robbery, illegal oil bunkering and crude oil theft. The exercise, organised by the Eastern Naval Command, is designed to enhance the combat readiness and proficiency of naval personnel in weapon handling and operations within creeks, waterways and the littoral environment.…

…could unlock about $50bn in investments and add nearly one million barrels per day of crude oil and condensate to Nigeria’s production within the next four to five years, the Nigerian Upstream Petroleum Regulatory Commission has said. The Executive Commissioner for Development and Production at the NUPRC, Enorense Amad…

…prices rose across Nigeria's key petroleum hubs on Tuesday, August 11, 2026, as global crude oil prices pushed towards $90 per barrel, adding fresh cost pressure to the downstream fuel market. Data from multiple depots showed widespread price increases in Lagos, Port Harcourt, Calabar, and Warri.Checks by Petroleumpric…

…The Dangote Refinery, located in Lagos, has a processing capacity of 650,000 barrels of crude oil per day, making it a landmark project in Nigeria's energy sector.LinkedIn users celebrate Respect Augustine's appointmentThe announcement attracted warm responses from colleagues and professionals across the platform.Ahmed…

…highlighting competition in Nigeria's deregulated fuel marketRising depot prices and crude oil tensions signal potential pump price increases for motorists in the coming daysPAY ATTENTION: Find it fast with our new search feature at Legit.ng! Pascal Oparada is a journalist with Legit.ng, covering technology, energy, st…

…that RMAFC was engaging the Ministry of Defence on the persistent challenges of crude oil theft, pipeline vandalism and production losses, which he described as major threats to government revenue. The commission is also looking beyond the petroleum sector for additional sources of revenue. Shehu said RMAFC was explori…

…Petroleum Regulatory Authority (NMDPRA) says Nigeria plans to allocate all of its crude oil production to the domestic market by 2030 as local refining capacity expands.According to a report by S&P Global, Nigeria produced 1.74 million barrels of crude oil per day in June and plans to increase production to 3 million b…

…improve. It cited falling inflation, a turnaround in the balance of payments, increased crude oil production, the emergence of Nigeria as a net exporter of petroleum products and the more than doubling of tax collections as evidence of the recovery. The report also highlighted an increase in the minimum wage, saying it…

…on fuel subsidy in 2021, while another ₦1.20 trillion was deducted from the Federation's crude oil sales proceeds during the same period.Shehu said fuel subsidy payments represented a significant drain on public finances. Other deductions from crude oil revenue included ₦16.20 billion for crude and petroleum product lo…

By Kingsley Omonobi The Nigerian Navy, in furtherance of its offensive against crude oil theft, has successfully deactivated 2 illegal refining sites while maintaining pressure by dismantling a reactivated illegal refining network in the Niger Delta. Navy Captain Abiodun Folorunsho, Director of Information, made this k…

…in-depth knowledge of the Nigerian economy, stocks, and general market trends.Global crude oil prices recorded one of their steepest single-day drops in recent months on Tuesday, August 4, raising expectations that petrol prices in Nigeria may ease if the decline holds.Brent crude, the benchmark tied to Nigerian oil ex…

…are battling insurgency, as well as other areas affected by banditry, kidnapping and crude oil theft. Musa assured the President that the military would reciprocate the gesture through greater dedication, discipline and improved operational performance. He urged officers and soldiers to view the enhanced remuneration a…

…around 4.2 kilotonnes in June. MEMAN attributed the higher fuel prices to rising global crude oil prices driven by geopolitical tensions in the Middle East and disruptions to shipping through the Strait of Hormuz. Although crude prices eased in June, they remained above levels recorded at the beginning of the year. The…