For Adverts / Inquiries
08024545197Every time there’s trouble in the Middle East, Nigerians brace themselves often at the petrol pump. The recent Israel–US–Iran strikes are no exception. While the headlines are about missiles and diplomacy,
Oil theft spreads from creeks to communities as security agencies uncover illegal bunkering hub in Abia State.
Nigeria’s downstream petroleum sector has become the focal point of a high-stakes clash between regulators, importers and the Dangote Refinery, the country’s flagship private refinery. At the heart of this struggle is a fundamental question: should Nigeria continue to allow fuel imports when local refining capacity is expanding and what does the Petroleum Industry Act
The Nigerian Insurance Industry Reform Act (NIIRA) 2025 has introduced sweeping measures to improve safety across the petroleum sector. From now on, all petroleum tankers, gas refilling stations, and related installations must carry insurance against third-party losses. Failure to comply attracts a fine of at least ₦1 million, a minimum of two years’ imprisonment, or
Lagos, Ogun, and the Federal Capital Territory (FCT) ranked as the highest consumers of Premium Motor Spirit (PMS) in June, according to new figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Petrol Consumption in June The regulator’s truck-out report showed that 1.44 billion litres of petrol were distributed nationwide during the month.
Nigeria earned ₦5.21 trillion from crude oil, gas sales, and related activities in the first half of 2025, according to figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The inflow accounts for 42.7% of the record ₦12.2 trillion generated in the whole of 2024 but covers just 34.7% of the ₦15 trillion revenue target
Telecommunications services in Lagos, Kaduna, and Delta states may face significant disruption following a blockade of diesel distribution to telecom base stations by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA). The action reportedly affects more than 16,000 telecom base stations managed
The Benue State Government has appealed to the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to end its three-day warning strike and resume fuel supply across the state. Speaking on Tuesday in Makurdi, the Secretary to the State Government (SSG), Mrs. Deborah Aber, said the strike was uncalled for. She noted that dialogue
A civil society group, Rights for All International, has filed a lawsuit against the Economic and Financial Crimes Commission (EFCC) over its alleged refusal to investigate Dapo Segun, the Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), in connection with a ₦5 trillion refinery and energy acquisition scandal. In suit FHC/ABJ/1580/2025 before
The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed has clarified that the price of petroleum products in Nigeria is no longer determined by the government. Instead, it now reflects prevailing market forces. He noted that deregulation of the downstream sector has restored investor confidence, mainly due
Nigeria’s crude oil production hit a major milestone in July, climbing above 1.8 million barrels per day (bpd) for the first time this year. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed the figures during the Society of Petroleum Engineers (SPE) Annual International Conference and Exhibition (NAICE) in Lagos. This output surge comes as Nigeria
Sabotage was a leading cause of oil spills in Nigeria in 2024, accounting for nearly 60% of all recorded incidents, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The figure was revealed in the Commission’s 2024 Annual Report, released in accordance with the Petroleum Industry Act (PIA) 2021, which mandates yearly disclosures to the
Petroleum depot marketers have criticized the implementation of a ₦10,000 e-call-up fee on trucks entering depots across Lagos, alleging a lack of transparency and deviation from the original agreement intended for only the Lekki corridor. The fee, officially endorsed on July 31 by the Lagos State Government, NUPENG, NARTO, and IPMAN, was originally designed to
Starting October 1, fuel tankers in Nigeria will no longer load more than 45,000 litres of petrol, according to new safety measures agreed by downstream oil stakeholders. The Western Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced the decision following a joint meeting with the Nigerian Midstream and Downstream Petroleum Regulatory Authority
Nigeria’s daily crude oil production has climbed to 1.824 million barrels, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This is the first time in July that output has surpassed the 1.8 million barrels per day (bpd) mark. The update was given during a stakeholders’ workshop held in Abuja. The event, hosted by the
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially ruled out the sale of the Port Harcourt Refining Company (PHRC), ending weeks of speculation over the fate of Nigeria’s flagship state-owned refinery. Speaking during a company-wide town hall meeting held at the NNPC Towers in Abuja, the Group Chief Executive Officer, Mr. Bayo Ojulari,
Between January 2020 and mid-2025, official records show that Nigeria experienced approximately 80 major petrol tanker crashes, resulting in an estimated 555 deaths, averaging nearly seven fatalities per incident. States most frequently affected include Ogun, Anambra, Niger, Delta, Rivers, and Lagos. However, independent tracking by Petroleumprice.ng reveals a more detailed picture. Notably, Oyo State, which
OPEC is quietly executing a long-term strategy to reclaim market share, betting that oil demand will remain resilient despite growing chatter about an energy transition. While the group begins to unwind production cuts, crude prices have held steady, thanks largely to geopolitical tensions, weak non-OPEC supply growth, and persistent global demand. “OPEC sees no peak
TMDK Terminal has strongly opposed the shutdown of its depot in Ijegun-Egba by the Nigerian Maritime Administration and Safety Agency (NIMASA), describing the operation as hostile, intimidating, and procedurally flawed. The company also alleged extortion attempts by officials involved in the enforcement, citing an informal demand of $20,000 and threats of $50,000 in daily demurrage
The Federal Government has ordered upstream oil and gas operators to show proof of their one percent contributions to the Nigerian Content Development Fund (NCDF). Companies must now obtain a compliance certificate from the Nigerian Content Development and Monitoring Board (NCDMB) to verify their remittances. The NCDMB unveiled the new Nigeria Content Compliance Certificate System
We use analytics cookies to understand how visitors use Petroleumprice.ng and improve the site. No data is sold or shared with advertisers.