Dangote Refinery Extends IPO Deadline to October 27

BusinessNewsNigeriaOil & GasDangote Refinery Extends IPO Deadline to October 27

By Ezinwanne Onwuka (Senior Reporter)October 15, 2026

Company’s revenue rises 144 per cent to $22.5bn in 9 months Aliko Dangote Foundation targets 7 million students, women Dangote Petroleum Refinery and Petrochemicals has extended its ₦2.15tn initial public offering (IPO) by two weeks, giving investors until October 27 to subscribe to its shares, as the company reported a $4.73bn net profit for the nine months ended September 30, 2026. The extension, approved by the Securities and Exchange Commission (SEC), moves the closing date...

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Reps Investigate ₦432bn Oil Industry Liabilities, Summon Debtors

BusinessNewsNigeriaPoliticsReps Investigate ₦432bn Oil Industry Liabilities, Summon Debtors

Uzoamaka Ikezue (Staff Reporter)September 9, 2026

The House of Representatives Public Accounts Committee (PAC) has commenced an investigation into outstanding financial liabilities in Nigeria’s oil industry, put at more than ₦432 billion. Affected companies and other relevant entities have been summoned to account for the debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The investigation followed findings contained in the Auditor-General’s annual audit reports on unpaid regulatory and petroleum-related obligations accruing to the NMDPRA. The Committee is...

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NNPC Signs Deal with Chinese Firms to Restart Warri, Port Harcourt Refineries

NewsNigeriaOil & GasNNPC Signs Deal with Chinese Firms to Restart Warri, Port Harcourt Refineries

By Ezinwanne Onwuka (Senior Reporter)May 5, 2026

The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese firms to restart, operate and expand the Warri and Port Harcourt refineries. In a statement on Monday, NNPC’s Chief Corporate Communications Officer, Andy Odey, said the agreement was signed with Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. He said the deal is expected to pave the way for a Technical...

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President Tinubu Sacks CEO NMDPRA, Name Replacement 

NewsNigeriaPoliticsPresident Tinubu Sacks CEO NMDPRA, Name Replacement 

Hassan Umar Shallpella (Regional Correspondent)April 30, 2026

President Bola Tinubu has approved the removal of Saidu Mohammed as the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The President also approved the nomination of Rabiu Umar as the new Chief Executive of the authority, subject to Senate confirmation. This was contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga, on Wednesday in Abuja, said the decision was made pursuant to the Petroleum Industry Act 2021....

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Abuja Court Dismisses Suit Seeking To Halt Pipeline Surveillance Contract Renewal

NewsNigeriaPoliticsAbuja Court Dismisses Suit Seeking To Halt Pipeline Surveillance Contract Renewal

Uzoamaka Ikezue (Staff Reporter)April 14, 2026

The Federal Capital Territory (FCT) High Court, Abuja, has dismissed a suit seeking to halt and restructure the renewal of the nation’s pipeline surveillance contract, describing it as contrary to national economic interest. The Court, presided over by Justice Bello, on Monday gave the ruling in a suit filed by the Registered Trustees of the People’s Well-Being Association. Joined as defendants in the suit are the Attorney General of the Federation, Nigerian National Petroleum Company...

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Dangote Refinery Assures Nigerians of End to Petrol Scarcity

NewsNigeriaOil & GasDangote Refinery Assures Nigerians of End to Petrol Scarcity

By Ezinwanne Onwuka (Senior Reporter)January 14, 2026

…Says Nigeria Has Entered New Phase of Fuel Abundance Dangote Petroleum Refinery Plc has assured Nigerian consumers of a sustained end to Premium Motor Spirit (PMS) scarcity, declaring that the country has entered a new era of fuel abundance and quality. The assurance was given by the newly appointed Managing Director of Dangote Petroleum Refinery, David Bird, at a press briefing in Lagos on Wednesday, following the facility’s uninterrupted fuel supplies during the Christmas and...

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AA Rano to Launch Nigeria’s First Unmanned Fuel Stations

NewsNigeriaOil & GasAA Rano to Launch Nigeria’s First Unmanned Fuel Stations

By Ezinwanne Onwuka (Senior Reporter)January 9, 2026

…Petrol workers oppose plan over job security AA Rano Nigeria, a major downstream petroleum marketing company, has announced plans to introduce Nigeria’s first fully automated and unmanned fuel stations, a move that has sparked concern among petrol station workers over possible job losses. The company announced that the stations will be launched this month, following a business partnership with Petrosoft Limited, a Nigerian technology firm that provides downstream oil and gas business management systems. In...

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FG Halts Plan for 15% Import Duty on Petrol and Diesel

NewsNigeriaPoliticsFG Halts Plan for 15% Import Duty on Petrol and Diesel

By Ezinwanne Onwuka (Senior Reporter)November 14, 2025

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced the suspension of the planned 15 per cent ad-valorem import duty on Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), commonly known as petrol and diesel. The regulatory authority disclosed in a statement on Thursday, saying “It should be noted that the implementation of the 15 % ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in view.” Late...

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Nigeria Exceeds OPEC Quota, Oil Output Hits 1.507 Million bpd in July

NewsNigeriaOil & GasNigeria Exceeds OPEC Quota, Oil Output Hits 1.507 Million bpd in July

By Ezinwanne Onwuka (Senior Reporter)August 13, 2025

In July 2025, Nigeria’s average daily crude oil production rose to 1.507 million barrels per day (bpd), a modest increase from June’s 1.505 million bpd, according to OPEC’s latest Monthly Oil Market Report. This surpasses the Organisation of the Petroleum Exporting Countries’ (OPEC) quota for the third time this year. OPEC emphasised that these figures were obtained via direct communication with Nigerian authorities, boosting the country’s status as Africa’s leading oil producer, ahead of Algeria,...

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Oil Suppliers Clash With Dangote Over Plans To Bypass Traditional Fuel Distribution Network

BusinessNewsNigeriaOil & GasOil Suppliers Clash With Dangote Over Plans To Bypass Traditional Fuel Distribution Network

Uzoamaka Ikezue (Staff Reporter)August 1, 2025

…Seek FG Intervention Over Looming Job Loss The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has raised an alarm over Dangote Refinery’s imminent plan to distribute petroleum products directly to end users, bypassing established distribution networks. Benneth Korie, NOGASA’s President stated that the approach could hurt Nigeria’s fuel market, threaten thousands of jobs, and potentially result in long-term product scarcity if not carefully managed. Korie, while speaking at the association’s Annual General Meeting...

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