Energy
Oil Prices Steady Amid New EU Sanctions and Market Uncertainty
Oil prices held mostly steady on Monday as markets digested the implications of fresh European Union sanctions on Russian oil...
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FG Electricity Tariff Subsidy Soars to N1.94tn in 2024 Despite Tariff Hike
The Federal Government’s electricity subsidy bill has surged to an unprecedented N1.94 trillion in 2024, up from N610 billion in...
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Oil Prices Edge Higher Amid Iraqi Drone Strikes and Summer Demand Surge
Oil prices extended their upward trend on Friday, buoyed by escalating supply concerns after drone strikes hit oil facilities in...
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FG Secures $500 Million World Bank Loan to Boost Power Distribution
Despite the N4 trillion debt burden weighing on Nigeria’s electricity sector, the Federal Government has secured a $500 million loan...
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Nigeria Surpasses OPEC Oil Quota Again in June with 1.5m Barrels Daily Output
Nigeria has exceeded its OPEC crude oil production quota of 1.5 million barrels per day (bpd) for the second time...
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Discos Post 40% Revenue Surge in April Despite Drop in Electricity Supply
Nigeria’s electricity Distribution Companies (Discos) recorded a 40% year-on-year revenue increase in April 2025, collecting a record N199.85 billion, even...
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NMDPRA Strengthens Regulatory Framework with Legal Forum for Petroleum Sector
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reaffirmed its commitment to enforcing a unified culture of compliance...
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Oil Prices Rise on Strong Summer Demand in U.S. and China
Oil prices rose on Wednesday, supported by expectations of robust summer demand in the United States and China, the world’s...
Read moreNigeria Surpasses OPEC Quota in June with 1.5m Daily Crude Output
Nigeria’s daily crude oil production climbed above its OPEC-assigned quota in June 2025, marking the second time this year the...
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Nigeria Seeks 25% OPEC Quota Increase, Targets 2 Million bpd by 2027
The Nigerian National Petroleum Company Limited (NNPC) says it plans to approach the Organisation of the Petroleum Exporting Countries (OPEC)...
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