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Nigeria

Dangote refinery row forces regulators to resign

The Nigerian oil and gas industry has been thrown into uncertainty following the resignation of the chief executives of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr Gbenga Komolafe, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, Engr Farouk Ahmed. Both NUPRC and NMDPRA are responsible for enforcing petroleum laws, regulations and guidelines in the upstream and downstream sectors. Komolafe and Ahmed were appointed in September 2021 by former President Muhammadu Buhari after the Petroleum Industry Act, PIA, came into force and had been reporting directly to President Bola Tinubu, who is also the Petroleum Minister, until their resignations. Farouk Ahmed’s exit follows his recent clash with industrialist Aliko Dangote, who petitioned the Independent Corrupt Practices and Other Related Offences Commission, ICPC, over alleged misconduct. Dangote accused the NMDPRA leadership of economic sabotage, claiming that its policies were […]

Abdulmumini Auwal SA December 18, 2025

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Nigeria

 Court Orders Receivership of Nestoil Assets in Loan Dispute

A Federal High Court in Lagos has granted an order for a consortium of lenders to take control of assets belonging to Nestoil Limited, a major Nigerian oil and gas company. The court order, issued by Justice D. I. Dipeolu, is connected to a loan dispute reportedly worth about $1 billion. The lenders, represented by First Trustees Limited and FBNQuest Merchant Bank, sought the order to secure the assets while the dispute is being resolved. The ruling grants a Mareva injunction, a legal tool that freezes a company's assets to prevent them from being sold or moved away. The injunction covers Nestoil Limited, its affiliate Neconde Energy Limited, and other associated parties. Following the court's decision, enforcement officers and police sealed Nestoil's corporate headquarters on Victoria Island, Lagos. Staff and visitors were asked to leave the premises as the assets […]

Abdulmumini Auwal SA October 28, 2025

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Nigeria

Dangote Refinery to expand capacity from 650,000 to 1.4 million barrels daily

The Dangote Petroleum Refinery has unveiled plans to expand its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, a move that will make it the largest refinery in the world once completed. President of the Dangote Group, Alhaji Aliko Dangote, announced the development during a press briefing in Lagos on Sunday, stating that the expansion work will commence immediately. According to Dangote, the project will position the refinery ahead of India’s Jamnagar Refinery, which currently holds the title of the world’s largest. “We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India,” Dangote said. He explained that the expansion project will create about 65,000 jobs, with 85 percent reserved for […]

Abdulmumini Auwal SA October 26, 2025

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Nigeria

Nigerian Oil Regulator Rejects New Decommissioning Commission

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opposed a bill to create a new agency for decommissioning oil and gas facilities. The bill, which proposes the National Commission for Decommissioning of Oil and Gas Installations (NC-DOGI), was debated at a public hearing in Abuja. The NUPRC argued that the new commission is unnecessary and would duplicate existing efforts. The House Committee Chairman, Rep. Ado Doguwa, acknowledged that decommissioning old oil facilities is a major challenge for Nigeria. He stated that these abandoned sites have serious environmental, economic, and social impacts on host communities. However, the NUPRC responded that the Petroleum Industry Act (PIA) of 2021 already gives it and another agency, the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the full responsibility for decommissioning. In a submitted memo, the NUPRC stated that creating a new body would go […]

Abdulmumini Auwal SA October 17, 2025

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Nigeria

 Petrol Price Nears ₦1,000/Litre as Marketers Plan Imports

The price of petrol is approaching ₦1,000 per litre in major Nigerian cities, prompting petroleum marketers to initiate plans for independent importation to stabilize the market. Marketers have blamed the price surge on supply constraints and production issues at the Dangote Refinery, which led private depot owners to significantly increase their ex-depot prices. This has forced retailers, including the NNPC, to adjust pump prices upwards. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that members of the Depot and Petroleum Products Marketers Association (DAPPMAN) are finalizing arrangements to import petrol. He stated that increased competition from these imports is expected to drive prices down in the coming weeks. Analysts warn that the soaring fuel cost threatens to trigger a fresh wave of price shocks across transportation, food, and manufacturing sectors.

Abdulmumini Auwal SA October 15, 2025

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Nigeria

Nigeria Secures $2bn Shell Gas Investment for HI Field

Nigeria has secured a $2 billion gas investment from global energy giant Shell for the development of the HI Field, a shallow offshore non-associated gas project located in OML 144. This was announced in a statement by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, on Tuesday in Abuja. According to the Presidency, the project is expected to produce about 350 million standard cubic feet of gas per day (mmscf/d) from 2028. It represents Nigeria’s second major gas investment in 18 months, reflecting growing global confidence in the country’s energy sector under President Tinubu. With this new project, total upstream investment commitments through Final Investment Decisions (FIDs) have now exceeded $8 billion since Tinubu took office in 2023. Welcoming the development, President Tinubu described the investment as a strong endorsement of his administration’s energy reforms.“This major […]

Abdulmumini Auwal SA October 14, 2025

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Nigeria

Tinubu Hails GEIL for Pioneering New Crude Export Terminal

President Bola Ahmed Tinubu has commended Green Energy International Limited (GEIL) for setting a new benchmark in Nigeria’s oil and gas sector with the successful commissioning of its crude oil export terminal in Otakikpo, Rivers State. The terminal, the first built by a Nigerian company and the only one constructed in the country in over five decades, marks a major milestone in Nigeria’s quest to boost crude oil production and enhance local participation in the energy industry. According to the President, the new export facility will provide an efficient evacuation route for marginal and stranded oil fields across the Niger Delta region. This, he said, will unlock billions of barrels of reserves, drive investment, and create significant economic value — key priorities of his administration. Speaking through the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, President Tinubu […]

Abdulmumini Auwal SA October 12, 2025

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Nigeria

 PENGASSAN Fires Back at VP Shettima Over Dangote Dispute

The Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has responded to Vice President Kashim Shettima's criticism of its recent strike, asserting it would take the same action again to protect its members. The dispute began when PENGASSAN launched a strike last week, alleging Dangote Refinery sacked 800 workers for joining the union. The strike was suspended after government intervention, but Vice President Shettima, speaking at an economic summit, condemned the action. He described Aliko Dangote as an "institution" and stated that "Nigeria is greater than PENGASSAN," warning against holding the nation "to ransom." In a sharp rebuttal, PENGASSAN President Festus Osifo stated, "Of course the nation is bigger than PENGASSAN, the way it’s bigger than Dangote and the Presidency." He affirmed that the union has a mandate to protect its members' jobs and would deploy the same strike action […]

Abdulmumini Auwal SA October 7, 2025

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Nigeria

Tanker Drivers Back PTD, NUPENG Leaders, Disown ‘Elders Forum’

Petroleum Tanker Drivers (PTD) across Nigeria have passed a vote of confidence on their national leadership and disowned a group calling itself the 'PTD Elders Forum'. Drivers from the Kaduna, Lagos, Port Harcourt, and Warri zones addressed journalists in Lagos, labeling the 'Elders Forum' as an unrecognized and faceless group. They accused it of spreading false information to create discord within the union. The drivers affirmed that Comrade Augustine Egbon, elected on July 3, 2024, is their legitimate National Chairman. They stated that the PTD's bylaws and the NUPENG constitution do not recognize any 'Elders Forum'. Spokespersons from the various zones praised the current leadership for its transparency and support. They highlighted benefits like health insurance and prompt resolution of issues with employers and truck owners as evidence of the union's effectiveness. The drivers urged security agencies to apprehend the […]

Abdulmumini Auwal SA October 3, 2025

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Nigeria

Crude Oil Imports Hit Record High as Dangote Refinery Reshapes Nigeria’s Trade Flow

Nigeria’s crude oil imports surged by 26.5% in the first half of 2025, reaching 5,665,602 metric tons, compared to 4,478,413 metric tons in the same period of 2024, according to fresh data from the Nigerian Ports Authority (NPA). The rise has been largely attributed to the 650,000 barrels per day Dangote Petroleum Refinery, which has been sourcing crude oil from countries including the United States, Brazil, Angola, and Equatorial Guinea. Financial Vanguard’s quarterly analysis shows a mixed trend: Q1 2025: Imports dropped to 2,400,553 MT, down 30% from Q1 2024 (3,037,209 MT). Q2 2025: Imports spiked to 3,265,099 MT, a 126% increase compared to Q2 2024 (1,441,204 MT). The Dangote Refinery, which began refining diesel and aviation fuel in January 2024, has since become a key player in both domestic and global energy trade, exporting petroleum products while importing crude […]

Abdulmumini Auwal SA September 22, 2025

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