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Energy
34 posts
NMDPRA confirms deregulated fuel sector and strengthens consumer protection efforts
The NMDPRA has clarified that Nigeria's petroleum market is fully deregulated, with fuel prices set by market forces, while simultaneously ramping up consumer protection and monitoring efforts.
Nigerian Gas Stations Close Amid Fuel Price Hike Rumors
Several Nigerian petrol stations have suspended operations as rumors circulate regarding potential fuel price hikes following global crude oil market volatility.
Nigeria Lost $1.5 Billion to Gas Flaring in 2024, Says German Envoy
German Ambassador Annett Günther reported that Nigeria flared 5.3 billion cubic metres of gas in 2024, costing the nation $1.5 billion, while outlining new initiatives to repurpose this waste for economic growth.
Dangote Refinery adjusts petrol rates downward while diesel costs climb
Dangote Refinery slightly lowered its ex-depot petrol price, while diesel costs saw significant increases across several Lagos depots amid rising global crude oil prices.
Adura executive warns of potential winter fuel supply issues without Jackdaw gas field approval
Adura CEO Neil McCulloch argues that opening the Jackdaw gas field is essential to maintaining UK energy security this winter as the government reviews the project's legal status.
NUPRC Awards Oil Licences to 12 Firms as New Deepwater Project Emerges
The NUPRC has issued 19 petroleum prospecting licences to 12 firms, while ESSO Exploration announced a $300 million deepwater investment project in Nigeria.
OPEC+ Increases Oil Quotas as Regional Tensions Ease
Seven OPEC+ nations are raising oil production quotas by 188,000 barrels per day beginning in August 2026 as shipping through the Strait of Hormuz recovers.
REA Chief declares mini-grids a profitable investment for Nigeria’s energy sector
REA Managing Director Dr. Abba Aliyu reports that mini-grids are becoming a high-potential commercial asset, helping to secure private investment and reform Nigeria's power landscape.
Nigerian Government Reports Rising Investor Interest in Solar Mini-Grids
Abba Aliyu of the Rural Electrification Agency highlights that solar mini-grids are becoming a preferred commercial model for investors in Nigeria's power sector.
TCN Schedules Maintenance Outage for Abuja Power Substation
TCN has scheduled maintenance at the Katampe substation this Saturday, resulting in temporary power outages for several Abuja neighborhoods.