The NNPC profit after tax 2025 has climbed by 33 percent to ₦7.2 trillion, even though the company’s revenue fell during the year as crude oil prices declined and petroleum product volumes dropped. The Nigerian National Petroleum Company Limited announced the audited results on Tuesday, September 29, showing a sharp rise from the ₦5.4 trillion…
Petrol prices are beginning to fall at some filling stations in Nigeria as cheaper depot supplies start to reach the retail market. MRS has reduced its petrol price in Lagos and surrounding areas from ₦1,370 to ₦1,350 per litre, while some independent marketers are now selling at around ₦1,360. The changes mark one of the…
Nigeria’s petrol supply is undergoing a major shift as the Dangote Refinery supplied 71% of the country’s petrol in August 2026, pushing fuel imports sharply lower. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that domestic petrol receipts rose 39% from 25.8 million litres per day in July to 35.9 million…
Nigeria’s latest petrol price increase has revived an uncomfortable question for an oil-producing country: why does fuel remain so expensive for Nigerian workers even as domestic refining capacity expands? Petrol is now selling at around ₦1,400 per litre in Lagos and Abuja, with prices reaching about ₦1,500 in parts of northern Nigeria, according to recent…
The Middle East oil crisis is beginning to affect the global energy market in a way that goes beyond crude oil prices. A new Wood Mackenzie analysis estimates that the prolonged conflict could reduce global crude processing by 1.4 million barrels per day in the fourth quarter of 2026, as refinery disruptions and problems around…
Vice President Kashim Shettima has returned to Nigeria after leading the country’s delegation to the 18th BRICS Summit in New Delhi, where Nigeria and India agreed to work towards restoring bilateral trade to nearly $15 billion. The target follows a meeting between Shettima and Indian Prime Minister Narendra Modi on the sidelines of the summit….
The Dangote Refinery IPO has received approval from Nigeria’s Securities and Exchange Commission, setting the stage for what could become Africa’s biggest-ever share sale. The company plans to offer 4.1 billion ordinary shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion, if fully subscribed. The order book is expected to open on…
Nigeria’s power sector contracted by 10.63% in Q2 2026, extending its decline for a second consecutive quarter even as the wider economy recorded stronger growth. The figures raise a bigger question than the latest contraction: can Nigeria sustain economic growth without fixing its electricity supply chain? Power Sector Moves in the Opposite Direction According to…
US President Donald Trump has announced what he called the “biggest oil deal in world history”, saying the US Venezuela oil deal gives American interests majority control of more than 65 billion barrels of Venezuela’s proven oil reserves. The announcement could reshape the relationship between Washington and Caracas while giving US companies a major role…
Nigeria says its subsidy reforms freed up ₦15.8 trillion between June 2023 and December 2025. But as crude oil prices climb again, the latest petrol price increase from the Dangote Refinery shows why the real test of the reforms is not simply how much government saves, but whether Nigerians can actually feel the benefit. Finance…
