By Udeme Akpan Dangote Petroleum Refinery & Petrochemicals FZE, DPRP, has secured $1 billion in underwriting backing from Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group ahead of its planned initial public offering, IPO. The $1 billion programme comprises a completed and funded $600 million private pl…

…longer using, without his permission. The suspect subsequently threatened her, fetched petrol from his motorcycle and proceeded to set her ablaze. A pastor, John Esiga Abu, confirmed her plea for forgiveness of the suspect after he visited her in the hospital on Tuesday, August 18, 2026. Abu also clarified that suspect…

…for Nigeria’s long-term economic growth. HAI cited key policy interventions, including petroleum sector reforms that ended fuel scarcity, greater foreign exchange market stability, increased foreign reserves, local government autonomy, police reforms, the Nigerian Education Loan Fund (NELFUND), tax reforms, and extensi…

MEMAN's latest Energy Bulletin put the spot landing cost of imported petrol at N1,218.54 per litre as of August 13Dangote Refinery's gantry price of N1,165 per litre sits N53.54 below what it costs to import the same productThe price gap also extends to diesel, where Dangote's AGO price undercuts the import-parity esti…

The NNPC Limited/FIRST Exploration and Petroleum Development Company Limited (First E&P) Joint Venture (JV) has launched ‘Impact First: Heritage’, a new multi-year grant programme designed to provide sustained funding and long-term partnership support to outstanding Nigerian non-governmental organisations (NGOs) that h…

Liquefied petroleum gas, LPG, popularly known as cooking gas, is expected to become cheaper across Nigeria after Dangote Refinery, marketers and depot owners reviewed their prices downward. A market survey by DAILY POST showed that Dangote Refinery reduced its LPG gantry price by N30 to N950 per kilogram. In a swift ma…

Nigerians may soon have the opportunity to become shareholders in Dangote Petroleum Refinery as the Securities and Exchange Commission (SEC) has received an application for a potential $5 billion initial public offering (IPO) by the multibillion-dollar refinery. The post SEC receives $5bn Dangote Refinery IPO applicati…

Nigeria’s petrol subsidy could have cost the Federal Government as much as N53 trillion under current market conditions and pushed the naira to about N3,500 to the dollar, chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has said. The post Fuel subsidy could have cost Nigeria N53trn, pushed naira to N3,500…

…known on Thursday when he received the Executive President of the Nigeria Union of Petroleum and Natural Gas Workers, Salimon Oladiti, and members of the union at the Presidential Villa, Abuja. The President’s declaration is coming against the backdrop of repeated doubts expressed by Obasanjo about the ability of the P…

…investment, and the economy for over a decade.The NNPC Limited/FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) Joint Venture has launched a new multi-year grant programme to support Nigerian non-governmental organisations delivering measurable social impact across the country.Known as Impact FIR…

…obligations of the Port Harcourt, Warri and Kaduna refineries to the Nigerian National Petroleum Company NNPC Limited rose from about ₦4.52 trillion at the end of 2023 to ₦8.67 trillion at the end of 2024, an increase of roughly ₦4.15 trillion in a single year of the Tinubu presidency. He noted the irony that the same…

…The commission has also strengthened its collaboration with the Nigerian Upstream Petroleum Regulatory Commission, NNPC Limited, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the National Boundary Commission and the Office of the Surveyor-General of the Federation. Shehu said the partnerships we…

…Tinubu. The President hailed the NGX reforms and assured that the Nigerian National Petroleum Company Limited would be listed on the Nigerian stock market. NGX investors lose whopping N3.8 trillion after Tinubu visit

…of WoPU, led nationally by the immediate past President of the Nigeria Union of Petroleum and Natural Gas Workers, Williams Akporeha. Saturday PUNCH gathered that the NLC national secretariat has queried Sessi over her association with the organisation. In a memo dated August 11, 2026, and signed by the NLC Deputy Gene…

…energy, stocks, investment, and the economy for over a decade.The price of liquefied petroleum gas (LPG), popularly known as cooking gas, has recorded fresh reductions at some major Nigerian depots, with Dangote Refinery and 11 Plc leading the latest downward movement.The latest PetroleumPriceNG data shows that Dangote…

…had reportedly told the committee that it was accountable to the Nigerian Upstream Petroleum Regulatory Commission rather than the Senate panel. Ningi, however, maintained that the National Assembly had the constitutional authority to summon individuals, companies and government agencies to provide explanations on matt…

…Corridor. A representative of the project monitoring office of the Nigerian National Petroleum Company Limited (NNPCL), Akponime Omojevwhe, thanked the stakeholders for their cooperation, attributing the absence of reported cases of infractions and vandalism during the period under review of their willingness to work w…

…to refine all crude locally by 2030 - NMDPRA The Nigerian Midstream and Downstream 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 b…

…conduct an impartial investigation into the allegations surrounding the incident at the Petroleum Training Institute, Effurun, Delta State. The government said the decision was necessary to ensure that the investigation was conducted without interference. The statement read in part, “The suspension is to enable the sec…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved more than $57 billion in Field Development Plans (FDPs), some of which have translated to Final Investment Decisions. The commission said that 22 major offshore projects are expected between 2026 and 2030 with an estimated investment potential o…

…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 had doubled between 2023 and 2026. It further cited estimates by th…

…finances. Other deductions from crude oil revenue included ₦16.20 billion for crude and petroleum product losses, ₦22.05 billion for pipeline repairs, and ₦6.75 billion for strategic stock holding. He also raised concerns about the calculation of the 13 per cent derivation fund, arguing that the current method undermin…

…Vice President of the Gas, Power and New Energy Directorate of the Nigerian National Petroleum Company Limited, Olufemi Olalekan, disclosed that the AKK Gas Pipeline project has reached Abuja and is scheduled for commissioning in September this 2026. He disclosed that the pipeline infrastructure has already been comple…

…unreliable electricity supply and rising energy costs, forcing them to rely heavily on petrol and diesel generators. The initiative also aligns with the Tinubu administration’s Renewed Hope Agenda, which prioritises industrialisation, technology commercialisation, renewable energy, digital transformation and local manu…

…notable approvals was the Renaissance Africa Energy consortium’s acquisition of Shell Petroleum Development Company (SPDC) assets, of which Aradel Holdings is a consortium member. Another was the approval of Seplat Energy’s acquisition of the assets of Mobil Producing Nigeria Unlimited (MPNU). “These strategic approval…