Oil & Gas

The Nigerian National Petroleum Company (NNPC Ltd) has announced a successful oil discovery at the Awodi‑07 well, located in the shallow offshore area of the western Niger Delta. This marks a significant achievement for Nigeria’s oil industry, showing that the country still has substantial untapped oil resources. The well was…

President Bola Tinubu has approved a 15% ad-valorem import duty on Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel).  The tariff, charged on the CIF value at discharge, is designed to make imported fuel less able to undercut output from Nigerian plants and to push the market toward domestic…

Nigeria lost an estimated $6.848 billion in the first eight months of 2025 due to lower-than-planned crude and condensate output, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).  From January to August, production totalled about 406.84 million barrels, roughly 93.74 million barrels below the budget target of 500.58 million.…

The Federal Government has finalised implementation frameworks for a ₦4 trillion government-backed bond to settle verified arrears owed to power Generation Companies (GenCos) and gas suppliers.  Officials say the plan is designed to ease the sector’s liquidity crunch, unlock new generation, and restore confidence across the power value chain. The…

Many African countries still don’t use much natural gas in 2025, even though they have a lot of it underground. This is mostly because they don’t have enough pipelines, factories, or good energy plans. Natural gas is cheaper and cleaner than things like diesel, firewood, or coal, but it’s not…