Category: Newsroom

The Nigerian Electricity Regulatory Commission (NERC) has officially released the Mini-Grid Regulations 2026 (NERC-R-001-2026), a comprehensive new framework designed to fast-track electricity access for Nigeria’s unserved and underserved communities. Announced on Monday via the commission’s official X platform, the regulation aligns with the Electricity Act 2023. It aims to create a more attractive environment for […]

The global energy market has been rocked by the steepest decline in OPEC output since the 1980s. Crude oil production by the organization plummeted by 27.5% in March 2026, falling to just 20.79 million barrels per day (bpd). According to a Bloomberg report citing OPEC’s secretariat, this massive supply disruption—totaling a loss of 7.88 million […]

In a major blow to oil theft syndicates, the Nigerian Navy has intercepted two vessels carrying 939 metric tons of suspected stolen crude oil. The cargo, valued at over ₦4 billion, was apprehended during a high-stakes midnight operation on April 8, 2026. The Commander of Joint Task Force South-South Operation Delta Safe, Olugbenga Oladipo, detailed […]

The Nigerian National Petroleum Company Limited (NNPC Ltd) has recorded a massive surge in its fiscal contributions, remitting a total of ₦1.804 trillion to the Federation Account in February 2026. According to the company’s latest Monthly Report Summary, this figure represents a staggering increase from the ₦726 billion remitted in January. This sharp rise in […]

Nigerian energy giant Oando Plc has unveiled an ambitious plan to raise $750 million to fund an extensive drilling campaign. The primary goal of this capital injection is to boost the company’s oil output by a staggering 300%, moving from its 2025 average of 32,000 barrels of oil equivalent per day (boepd) to significantly higher […]

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a major breakthrough in the nation’s energy sector, revealing that recent regulatory reforms have successfully unlocked over $10 billion in new upstream oil and gas investments. Speaking at the 2026 Society of Petroleum Engineers (SPE) Oloibiri Lecture Series in Abuja, NUPRC Chief Executive Oritsemeyiwa Eyesan highlighted […]

The World Bank has officially removed its latest Nigeria Development Update report from its website, following a swift reversal on its previous advice regarding fuel supply. The April 2026 report had initially suggested that the Federal Government should sustain the importation of Premium Motor Spirit (PMS) to maintain market stability. However, in a move that […]

Nigeria’s electricity, gas, steam, and air conditioning supply sector contributed a total of ₦62.12 billion in Company Income Tax (CIT) in 2025, according to the latest data from the National Bureau of Statistics (NBS). While the sector remains a foundational pillar of the Nigerian economy, the figure represents a decline from the ₦77.97 billion recorded […]

The African Development Bank (AfDB) is taking a decisive step toward positioning Africa as a global leader in the green energy transition. On April 8, 2026, the bank announced a $20 million funding call dedicated to accelerating green hydrogen projects across the continent. Managed under the Sustainable Energy Fund for Africa (SEFA), this initiative aims […]

Financial and energy sector experts are hailing a major regulatory shift from the Central Bank of Nigeria (CBN) as a “critical milestone” for the nation’s petroleum industry. A recent directive allowing International Oil Companies (IOCs) full, immediate access to 100% of their export earnings is being viewed as the catalyst needed to revitalize Nigeria’s upstream […]