Nigeria faces a direct fiscal alarm bell in the third quarter (Q3) of 2026 as crude oil price dips below $80 per barrel amid fragile global stability, with the Society of Energy Editors (SEE) warning that oil below $80 would be a stress test the country’s economy cannot afford to misread.

In its...

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Despite the global oil market tending to move in its favour, the Profit After Tax (PAT) of national oil major, the Nigerian National Petroleum Company Limited (NNPC Ltd) declined from the N481billion in April 2026 to N462 billion in May 2026.

This was detailed in its Monthly report Summary for May...

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The national oil company of the Republic of Congo, the Société Nationale des Pétroles du Congo (SNPC) and Dangote Petroleum Refinery & Petrochemicals (DPRP) are discussing a strategic partnership aimed at strengthening the Republic of the Congo’s supply of refined petroleum products.

The...

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The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said the minister has the power to intervene in ensuring consumers are not exploited, but that must be in consultation with stakeholders in the sector.

“The minister of...

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Fuel marketers in Nigeria have expressed a strong determination to resist any form of meddlesomeness in pricing by the Nigerian government, threatening to shutdown filling stations to drive home their point.

The National Publicity Secretary of the Independent Petroleum Marketers Association of...

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