The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said the 28 Field Development Plans (FDPs) so far approved in 2025 would add 600,000 barrels of oil per day and more than 2.0 billion standard cubic feet of gas daily. Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, an engineer, said this at the…
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says Nigeria’s trade surplus has climbed to six per cent of the nation’s Gross Domestic Product (GDP). Cardoso said this in a statement by the Director of Information and Public Relations, Federal Ministry of Finance, Mr Mohammed Manga, in Washington on Wednesday. Cardoso,…
The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate has dropped to 18.02 percent in September 2025. The NBS announced the increase in its consumer price index (CPI) report on Wednesday. The latest rate is the lowest in three years as 2022 (in June) was the last time the country’s headline inflation hit…
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, says it has taken a final investment decision (FID) on the HI offshore gas project in the country. The decision, taken in partnership with Sunlink Energies and Resources Limited, saw the injection of $2 billion in the shallow offshore HI field in…
A Qatari business delegation, led by a member of the country’s ruling family, Sheikh Abdulrahman Hamad N. H. Al-Thani, has announced plans to invest about $300 billion in various sectors of the Nigerian economy over the next decade. The delegation announced this at the weekend in Lagos at a reception organised for its members by…
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has ordered a clampdown on marketers hoarding or exploiting consumers following the recent surge in the price of Liquefied Petroleum Gas, popularly known as cooking gas. This was disclosed in a statement signed by the minister’s spokesman, Louis Ibah, on Monday. Recalls that the prices…
The Nigerian National Petroleum Limited (NNPCL) has increased petrol price to N992 per litre from N865 per litre. No official reason has been given for the increment as of the time of filing this report. Across NNPC retail outlets visited by The Nation, attendants were seen adjusting their pumps to reflect the new price. At…
Nigeria’s total public debt has climbed to N152.40 trillion as of June 30, 2025, up from N149.39 trillion at the end of March. This is according to the latest figures from the Debt Management Office (DMO). The figure represents a quarterly increase of N3.01 trillion, equivalent to 2.01%, while in dollar terms the debt stock…
Dangote Petroleum Refinery has dismissed reports claiming it imported finished petrol with high sulphur content into Nigeria, describing the allegations as false and misleading. An online publication, Sahara Reporters, had alleged that the refinery was bringing in high-sulphur petrol from the United Kingdom aboard the vessel MT Clearocean Mary, which it said was scheduled to…
In a sharp repudiation of the World Bank’s recent poverty statistics, the Presidency on Wednesday dismissed the figure that 139 million Nigerians live in poverty as “detached from the country’s economic realities” and an analytical abstraction rather than a factual headcount. The government insisted that the estimate must be “contextualised” before being accepted as valid….