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08024545197Nigeria’s push to reduce transportation costs through Compressed Natural Gas (CNG) and electric vehicles has yet to translate into widespread fare reductions, with checks across several states showing that commuters continued to pay existing or higher fares after the Federal Government’s October 1 target.
Owari, a market intelligence data platform designed for West African oil markets, was presented to industry participants at its Executive Market Intelligence Forum at Four Points by Sheraton, Victoria Island, Lagos, on Tuesday, 22 September 2026, where speakers called for wider access to stock and price data across the region.
A Federal High Court in Abuja has delivered a significant ruling in the dispute over petroleum-product import licences, finding that the NMDPRA must exercise its licensing powers within the framework of the Petroleum Industry Act (PIA) 2021.
Nigeria’s petrol prices may remain elevated in the near term as persistent instability in the Middle East continues to put pressure on global crude and petroleum product markets, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said.
The first 500 Compressed Natural Gas (CNG) refuelling stations ordered by the Federal Government are due by the end of October, the Executive Chairman of the Presidential Compressed Natural Gas Initiative (PCNGI), Ismael Ahmed, has said.
Shareholders in the Dangote Petroleum Refinery will receive their dividends in foreign currency, the Vice President of Dangote Industries Limited, Devakumar Edwin, has said, relaying a declaration by the company's President, Aliko Dangote.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has told holders of Petroleum Prospecting Licences (PPLs) that acreage not worked within its term returns to the Federal Government, and that it intends to enforce the "Drill-or-Drop" provisions of the Petroleum Industry Act (PIA) 2021 against non-performing acreage. Licensees facing constraints have been asked to report them by October 31, 2026.
Nigeria’s gas flaring rate rose to 7.48% in August 2026, the highest level recorded since October 2025, as operators flared 18,350.55 million standard cubic feet (MMSCF) of natural gas during the month, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
NNPC Retail, a downstream subsidiary of the Nigerian National Petroleum Company Limited (NNPCL) has introduced a self-service fuel dispensing feature on its NNPC Fuel app, allowing customers to pay for petrol via the App and dispense it themselves without an attendant.
Energy expert and lecturer at Ignatius Ajuru University of Education, Port Harcourt, Dr Joseph Obele, has called on the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to urgently restart the country's government-owned refineries in response to rising petroleum prices.
Three indigenous energy companies have confirmed sponsorship of OTL Africa Downstream Energy Week's 20th anniversary edition, each extending sponsorship streaks that predate the event's milestone year: Northwest Petroleum & Gas Company for a seventh consecutive year, Emadeb Energy Group for a fifth, and Ardova Plc for a third. The event runs October 25–30, 2026.
Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintechs, mobile network operators and other platforms through which investors can subscribe for its shares when the public offer opens.
The House of Representatives has launched a probe into ₦432.07 billion in unpaid debts owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and oil marketing firms. The Public Accounts Committee (PAC), chaired by Rep. Bamidele Salam, announced the investigation on Tuesday, September 8, 2026.
Truckified has said its productivity in petroleum haulage is measured beyond the number of trips completed, with operational standards, safety measures, product loss management and quantity accountability identified as the company's key performance indicators.
Mocoh and Dover Fueling Solutions have been confirmed as Gold Sponsors of the OTL Africa Downstream Energy Week's 20th anniversary edition, holding in Lagos from October 25 to 30, 2026, alongside Argus Media and Asharami Synergy at the Bronze tier.
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has urged the Federal Government to urgently strengthen domestic refining by ensuring local refineries have reliable access to crude at commercially sustainable prices and by progressively reducing dependence on imported petroleum products.
Nigeria’s depot petrol market is facing fresh upward pressure, with prices in different supply hubs expected to move towards ₦1,300 per litre after Dangote Petroleum Refinery increased its Premium Motor Spirit (PMS) gantry price for the third time in nine days.
The management of Dangote Petroleum Refinery and Petrochemicals (DPRP) has warned that continued issuance of petrol import licences could compel the refinery to increase its focus on exports, as imported Premium Motor Spirit (PMS) continues to take a significant share of the Nigerian market.
Nigeria has met its OPEC crude production quota for a third consecutive month, but the modest increase in output is yet to deliver the fiscal boost the government needs, with analysts saying production must rise substantially above 2 million barrels per day to create a meaningful oil windfall.
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