Yemisi Izuora The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) reiterates its strong commitment to promoting healthy competition in Nigeria’s downstream petroleum sector as a catalyst for growth, efficiency, and price stability. To achieve this the petroleum products marketing body calls on the Federal Government and relevant regulatory Agencies to urgently implement policies that encourage open market participation, remove supply bottlenecks, and ensure a level playing field for all operators in the downstream sector. The National President of PETROAN Billy Gillis-Harry while reacting to the statement made by world bank urging Government to reinstate petrol import licences…
Author: Orientalnews Staff
Yemisi Izuora Nigeria recorded a historic shift in its downstream petroleum trade in March, emerging as a net exporter of gasoline for the first time, driven largely by rising output from the Dangote Petroleum Refinery & Petrochemicals. Data from market intelligence firm Kpler showed that gasoline imports into the country dropped sharply to 41,000 barrels per day (b/d) during the month, the lowest level on record. At the same time, crude supply to the Dangote facility rose to about 565,000 b/d, the second-highest intake since the 650,000 b/d refinery commenced operations in late 2023, indicating strong processing…
Introduction The Centre for the Promotion of Private Enterprise (CPPE) expresses strong reservations about the policy proposition by the World Bank in its recent Nigerian Development Update, advocating increased importation of petroleum products and food as a solution to Nigeria’s supply-side constraints. This recommendation is deeply troubling and fundamentally misaligned with Nigeria’s current economic realities and reform trajectory. At a time when the country is making measurable progress in restoring macroeconomic stability—evidenced by improving foreign reserves, moderating inflation, a more stable exchange rate regime, and growing capacity for the export of refined petroleum products—the policy priority should be to…
Yemisi Izuora The Director-General (DG) of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, has highlighted Nigeria’s role and commitment as an active stakeholder in shaping international frameworks governing data access, utilization, and security. The DG, restated the country’s role in that regard as he joined other international delegates at the inaugural assembly of the World Data Organization (WDO), held recently in Beijing. The high-level gathering convened over 500 participants, including senior government officials, multilateral institutions, and digital technology experts, marking a significant step toward strengthening global coordination on data governance and the digital economy. Accompanied by the NCSP Head…
Yemisi Izuora Sahara Group has urged African governments, investors and industry leaders to accelerate intra African investment as a critical lever for industrialisation, stressing that the continent’s growth challenge is no longer about ideas or endowment, but about execution at scale. Speaking at the African Refiners and Distributors Association (ARDA) Week, currently underway in Cape Town, Temitope Shonubi, Executive Director, Sahara Group, said Africa must deliberately shift from fragmented national approaches to a continent-wide investment mindset, anchored in partnership, value creation and local capital mobilisation. “Africa’s challenges are well understood. What matters now is defining and…
Uche Cecil Izuora The Organization of Petroleum Exporting Countries (OPEC) has maintained its global supply and demand forecasts, despite the disruptions to oil exports from the Middle East because of the Iran war. Data released by the Organization in its Monthly Oil Market Report (MOMR) do not suggest any demand disruption because of the war, which has blocked exports through the strait of Hormuz, led to huge oil production shutdowns and seen oil prices surge. The OPEC sees oil consumption growing by 1.38mn b/d to 106.53mn b/d in 2026 and by 1.34mn b/d to 107.87mn b/d in 2027. While…
Yemisi Izuora Dangote Gboko cement plant in Benue State performance has improved significantly after upgrade of its air compressor. The factory is a subsidiary of Dangote Industries, and Africa’s leading cement producer with a production capacity of 52.0 million tonnes per year, operating in 10 African Countries. Together, these operations make Dangote Cement Plc the largest cement producer in Sub-Saharan Africa. Following a comprehensive system audit and airflow analysis at the plant, JMG Industrial installed eight high-performance Kaeser rotary lobe blower units designed for continuous heavy-duty industrial operation. The upgraded compressed air configuration increased airflow efficiency by approximately 23…
Yemisi Izuora Oando Energy has joined African Energy Week (AEW) 2026 as an Emerald Sponsor with compelling financial momentum after reporting a 10 per cent year‑on‑year rise in profit after tax to ₦241.3 billion in profit for the full year 2025. Driven by stronger upstream performance, expanded crude and gas liftings and increased gas sales volumes, this performance is a clear indicator of operational resilience and strategic focus in a challenging macro environment. This sets the stage for Oando Energy’s role at AEW 2026, where Africa’s leading policymakers, operators and investors will meet in Cape Town from 12–16 October 2026 to…
Uche Cecil Izuora Nigeria and Morocco are close to signing historic agreement that will allow unhindered progress towards realization of mega gas pipeline project. Amina Benkhadra, the head of Morocco’s national office of hydrocarbons and mines (ONHYM), says an intergovernmental agreement (IGA) on the planned $25 billion Nigeria-Morocco gas pipeline will be signed this year. In a report by Reuters on Monday, Benkhadra said that after the intergovernmental agreement, an authority for the pipeline will be established in Nigeria. Benkhadra said the authority will consist of ministerial representatives from 13 participating countries to provide political and regulatory coordination. She…
Uche Cecil Izuora Nigeria’s crude oil production marginally increased to 1.38 million barrels per day (bpd) in March, according to the Organisation of Petroleum Exporting Countries (OPEC). The figure represents a 5.25 per cent increase from 1.31 million barrels a day output in February, OPEC’s monthly oil market report for March revealed on Monday. According to the oil alliance, its production figures were derived from direct communication with Nigerian authorities. The OPEC usually source its crude oil output data from two channels: direct communication from member countries and secondary sources such as energy intelligence platforms. The latest figures show…