Oil

Farouk Ahmed, the head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has denied issuing any response to the allegations raised against him by business leader Aliko Dangote. The clarification came on Tuesday…
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The ICPC has confirmed receiving a formal petition from businessman Aliko Dangote against the head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, over alleged corruption. The anti-graft agency…
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The Federal Government has suspended the proposed 15 percent import duty on Premium Motor Spirit (PMS) and diesel, earlier approved for implementation under the ad-valorem system. The Nigerian Midstream and Downstream Petroleum…
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President Bola Ahmed Tinubu will on Wednesday, October 8, 2025, commission the Otakikpo Onshore Crude Oil Export Terminal in Andoni Local Government Area of Rivers State. Built by Green Energy International Limited (GEIL), operator of…
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The Nigerian National Petroleum Company Limited has signed a fresh two-year crude supply agreement with the Dangote Petroleum Refinery to guarantee steady feedstock for the 650,000-barrel-per-day plant in Lekki, Lagos. Details of the…
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Two of Nigeria’s biggest oil workers’ unions, PENGASSAN and NUPENG, have rejected plans by the Federal Government to sell part of its stakes in joint venture (JV) oil assets and amend the Petroleum Industry Act (PIA). At a joint…
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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have strongly opposed reported plans by the federal government to sell major stakes in Joint…
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Billionaire businessman Femi Otedola has alleged that more than N2 trillion was diverted through questionable petrol subsidy claims during the administration of former President Goodluck Jonathan. He linked the losses to a system built…
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The Yoruba Council Worldwide, the umbrella body for Yoruba people across the globe, has applauded Dangote Refinery for lowering fuel prices and urged oil and gas unions to stop spreading misinformation. The council’s president, Aare…
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