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A major new energy analysis highlights Nigeria and Angola as pivotal players in Africa’s quest for greater downstream independence in the petroleum sector. With ambitious refinery expansions and infrastructure upgrades, the continent is on track to dramatically boost its refining output, reducing chronic reliance on imported fuels and capturing more value from its vast crude […]

Nigeria and the Republic of Türkiye have signed an updated Memorandum of Understanding (MoU) aimed at strengthening bilateral cooperation in the solid minerals sector, marking a significant step in expanding economic ties between the two nations. The agreement was signed on the sidelines of the 2nd Istanbul Natural Resources Summit (INRES 2026) at the Lütfi […]

The Federal Government of Nigeria has cancelled $717.7 million in remaining undisbursed funding from the World Bank, effectively terminating the balance of a major power sector recovery programme amid ongoing challenges in the electricity industry. According to World Bank restructuring documents, the cancellation follows a formal request by the Nigerian government on March 26, 2026, […]

A significant standoff has erupted between Lagos State authorities and Electricity Distribution Companies (DisCos) over ambitious plans to eliminate the Nigerian Electricity Regulatory Commission’s (NERC) service-based customer classification system, commonly known as the electricity bands. The dispute centres on the state’s push for a uniform, reliable 24-hour power supply across Lagos, underpinned by smart metering, […]

Prominent Nigerian billionaire and Africa’s richest man, Aliko Dangote, has announced that the upcoming Initial Public Offering (IPO) of the Dangote Petroleum Refinery & Petrochemicals will be structured to broaden ownership and democratize wealth creation, enabling retail investors across Nigeria and the continent to acquire stakes in the landmark project. The Dangote Refinery, Africa’s largest […]

Global boutique energy investment bank Finergreen has completed the sale of its African operations to local management teams, marking a strategic shift as the Paris-headquartered firm refocuses on its core markets in Europe and Asia. The transaction, structured as a management buyout, transfers Finergreen’s offices in Abidjan (Côte d’Ivoire), Nairobi (Kenya), and associated activities to […]

Nigerian billionaire Tony O. Elumelu, CFR, is expected to be formally elected as a Non-Executive Director of Seplat Energy Plc today during the company’s 13th Annual General Meeting (AGM), held virtually under the theme “Delivering at Scale: Powering Nigeria’s Future.” The anticipated confirmation follows Elumelu’s Heirs Energies Limited (together with Heirs Holdings Limited) acquiring a […]

The African Union Commission (AUC) has officially opened applications for the Food & Energy Sovereignty Challenge 2026, a flagship innovation initiative under the theme “Rooted and Powered in Resilience: Securing Africa’s Future in a Shifting Global Order.” The challenge seeks scalable, African-led technologies and solutions to advance food and energy sovereignty, with a strong emphasis […]

The Lagos State Government has unveiled a sweeping plan to end the persistent “culture of blackouts”. Under the Lagos State Electricity Law 2024, the state is licensing operators, rolling out universal metering, and pushing to completely phase out the controversial electricity band classification (A to E) to deliver uninterrupted, 24-hour power. The reforms, driven by […]

Africa’s richest man, Aliko Dangote, has been named the African Energy Person of the Year 2026 by the African Energy Chamber (AEC), in recognition of his transformative contributions to the continent’s energy security and industrial future.  The announcement, made on May 17, 2026, celebrates Dangote’s visionary leadership in building world-scale infrastructure that reduces import dependence, […]