Nigeria and Angola have emerged as frontrunners in Africa’s renewed drive toward energy independence, as new projections reveal the continent’s refining capacity could reach 90 per cent, a significant leap from the 45 per cent recorded in the previous year. This development was disclosed in the “State of Africa’s Infrastructure Report 2025,” released by the
Abuja — Former Economic and Financial Crimes Commission (EFCC) Chairman, Ibrahim Magu Bawa, has lifted the lid on extensive fraud within Nigeria’s fuel subsidy system, revealing that billions of naira have been siphoned off through deceptive practices including ‘ghost imports’ and over-invoicing. Speaking at a recent anti-corruption forum, Magu detailed how unscrupulous actors exploit loopholes
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has stated that he cannot independently confirm any dispatch of Premium Motor Spirit (PMS), commonly known as petrol, from the Port Harcourt Refinery depot as of now. Speaking amid growing public speculation and media reports suggesting that the long-anticipated
LAGOS, Nigeria – Indigenous oil and gas firm, Petralon 54 Limited, has announced the commencement of drilling operations at the Dawes Island Field in Rivers State, a move expected to boost Nigeria’s daily crude oil production by an estimated 2,500 barrels. The drilling activity marks a major operational milestone for Petralon 54, a subsidiary of
In a significant move to provide relief to Nigerians amid rising economic pressures, the Dangote Petroleum Refinery has once again lowered the pump price of Premium Motor Spirit (PMS), reducing it by N15 per litre. The new price takes immediate effect, with petrol now retailing at N875 per litre in Lagos, while varying slightly across
