Industry

The African Democratic Congress (ADC) has demanded a full audit of Nigeria’s refineries, citing recent reports that allege that successive governments have spent nearly $18 billion on the rehabilitation of the three major refineries in…
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The International Monetary Fund (IMF) has raised serious reservations over the government’s decision to grant tax exemptions on the import of sugar, warning that such policy deviations could undermine the ongoing $7 billion loan…
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A major milestone for gas-powered economic transformation was achieved at the South-South Gas Utilisation Forum 2025 held in Uyo, Akwa Ibom State, with the signing of a landmark $3.5 billion Memorandum of Understanding between the…
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The total gross electricity subsidy tariff shortfall incurred by the Federal Government to the power sector in 2024 amounted to ₦1,949 billion. According to data sourced from the Nigerian Electricity Regulatory Commission’s newly…
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The Senate Committee on Public Accounts, said it did not accuse the Nigeria National Petroleum Company Limited (NNPC) of embezzling N210 trillion naira.  Its chairman, Senator Aliyu Wadada (SDP, Nasarawa West), disclosed that only…
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Crude oil markets have turned out to be tighter than most analysts appeared to expect, and are ready to absorb OPEC+’s higher-than-forecast supply boost next month. For proof, look no further than oil prices after the latest OPEC+…
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...Warns of Impending Systemic Failure The International Monetary Fund (IMF) has raised alarm over Nigeria’s chronic budgeting inaccuracies between 2011 and 2023, revealing widespread overestimations in both revenue and expenditure…
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Reactions, as usual, have followed the report issued by the IMF after its regular annual visit to Nigeria. The IMF conducts these visits as part of its obligation to member countries to assess their economic health and provide policy…
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Aliko Dangote President of the Dangote Group, Alhaji Aliko Dangote, has said that Nigeria’s daily petrol consumption figure is higher than what the country consumes, stressing that the petroleum sector is riddled with corruption. …
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Dangote Refinery Industry experts, petroleum products marketers and organised labour have backed Aliko Dangote’s recent assertion that Nigeria’s state-owned refineries under the Nigerian National Petroleum Company Limited (NNPC) may…
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