Category: Newsroom

Seplat Energy Plc, Nigeria’s leading independent energy company, has reported a landmark performance for the first nine months of 2025, generating over $1 billion in operating cash flow — a 183% year-on-year increase. According to the company’s unaudited financials, Seplat’s after-tax cash flow from operations hit $1.01 billion, driven by robust crude liftings, expanded offshore […]

Global oil producers under the OPEC+ alliance have agreed to raise output slightly in December 2025, but then to pause further production increases during the first quarter of 2026. The decision—to add just 137,000 barrels per day (bpd) in December and then hold steady in January through March—is being viewed as a strategic move to […]

The Delta State House of Assembly has approved a request from Governor Sheriff Oborevwori for the re‐issuance of an ₦18.1 billion bank guarantee in favour of Bastanchury Power Solutions Nigeria Limited, the developer of the Asaba Independent Power Plant.The guarantee is being re‐issued via Access Bank Plc (to replace an existing guarantee from Sterling Bank) […]

In a bold move to reshape Africa’s energy landscape, NNPC Ltd has set its sights on securing up to $60 billion in strategic investments by 2030.At the recent ADIPEC 2025 in Abu Dhabi, the company’s Group CEO, Bashir Bayo Ojulari, emphasized Nigeria’s ambition to be at the heart of the continent’s transformation — from extractive […]

The Centre for the Promotion of Private Enterprise (CPPE) has expressed concern over the negative impact of petrol imports on Nigeria’s economy, describing the situation as a major drain on foreign exchange and national productivity. In a statement, the Chief Executive Officer of CPPE, Dr. Muda Yusuf, said the continued importation of petrol was unsustainable […]

Business magnate and philanthropist Femi Otedola has announced a ₦4 billion donation to Augustine University, marking a major milestone in the institution’s development and his continued commitment to education and youth empowerment. Otedola, who serves as the Chancellor of Augustine University, revealed the donation in a statement shared on his social media, noting that the […]

Nestoil Limited, a leading indigenous oil-and-gas engineering and services company in Nigeria, has confirmed that its operations remain unaffected despite the sealing of its corporate headquarters in Lagos. What Happened A Federal High Court in Lagos issued a Mareva injunction on October 22, 2025, ordering the freezing of the company’s assets linked to alleged unpaid […]

President Bola Ahmed Tinubu has approved a 15% ad-valorem import duty on crude oil products—specifically diesel and premium motor spirit (PMS, commonly called petrol). Key Details The approval was communicated in a letter dated October 21, 2025, addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). […]

United Bank for Africa (UBA) Plc, in partnership with Renewvia Solar Nigeria Limited and Norwegian-based investment arm Empower New Energy, has announced the commissioning of solar-plus-storage systems across 25 UBA branches in five Nigerian states. The initiative, unveiled at the UBA Oba Akran 2 branch in Lagos, was officially launched by Norway’s Ambassador to Nigeria, […]

The Nigerian Content Development and Monitoring Board (NCDMB) has announced a major human-capital initiative aimed at training more than 10,000 Nigerians in in-demand technical and professional skills for the oil and gas sector. The programme, named the “Oil and Gas Field Readiness Training Programme,” is designed to bridge critical skill gaps identified in the industry, […]