Energy Summaries August 2025 Edition

Filtering the noise to deliver important energy sector updates AUGUST 2025

REA's $1.6bn mini-grid fund to accelerate clean energy access for rural communities

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Fleissen & Company

Energy Summaries is not a newspaper or tabloid, but a major voluntary communication project of Fleissen & Company, which is dedicated to harnessing and disseminating vital information about major developments within the energy industry on a monthly basis.

This periodic compilation is purely for information and knowledge purposes, and its content should not in any way be mistaken for financial, investment or transaction advice.

Professional guidance and expert views MUST always be sought when commercial decisions or business choices are to be made.

Filtering the noise to deliver important energy sector updates

Filtering out the noise to deliver important energy sector updates

AUGUST 2025

REA's $1.6bn mini-grid fund to accelerate clean energy access for rural communities

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Fleissen & Company

FIRST E&P achieves 96% gas- are reduction, pledges net-zero by 2045

MAY 2025

JUNE 2025

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Filtering out the noise to deliver important energy sector updates

Filtering out the noise to deliver important energy sector updates

JULY 2025

Nigeria launches rst ever are gas digital infrastructure project

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Nigeria’s AutoCNG sector attracts $491mn investment in 12 months

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Fleissen & Company

Fleissen & Company is a leading energy infrastructure advisory firm that delivers integrated technical and strategic solutions across the oil and gas, power, and broader energy sectors. The firm combines deep engineering expertise with regulatory insight to support clients in addressing complex operational challenges, enhancing sustainability, and unlocking value across the energy value chain.

Fleissen specialises in hydrocarbon measurement, gas utilisation, emissions accounting, and petrochemical downstream opportunity assessments. The company is pivotal in advancing Nigeria’s energy transition by supporting flare gas commercialisation, compressed natural gas (CNG) adoption, and greenhouse gas (GHG) reduction initiatives.

In addition to its technical advisory work, Fleissen & Company has two dedicated subsidiaries: Fleissen Events Ltd, which leads its industry convenings, and Fleissen Energy Ltd, which focuses on project development and energy solutions.

Through Fleissen Events Ltd, the firm is a recognised convener of high-impact industry dialogues, including the Nigeria Hydrocarbon Measurement Conference (NiHMEC) and the Gas Safety Conference (GSC), which bring together regulators, operators, and global experts to drive innovation, policy alignment, and operational excellence in the energy sector.

THE TEAM

Project Lead Sunday Kanshio, PhD

+2349098614828 s.kanshiro@fleissen.com

Editorial Consultant Yange Ikyaa

Project Support Officer Aisha Tukur Diggi

July 2025

EXECUTIVE BRIEF

The July 2025 Energy Summaries present a significant inflexion point in Nigeria’s journey toward energy security, low-carbon development, and regional leadership. With over $16 billion in upstream investments, rapid expansion in refining and clean energy access, and robust institutional reforms, Nigeria is actively reshaping its energy landscape. This edition documents the most impactful developments across the petroleum, gas, electricity, and renewables sectors.

Key Strategic Developments 1. Refining & Petrochemicals • Dangote Refinery announced an upgrade to reach 700,000 bpd capacity, exported 1 million tonnes of PMS, and will halt foreign crude purchases by December 2025. Plans for share listing and a mega-seaport in Ogun Statesignal broader ambitions.

• Backbone Infrastructure Nigeria Limited (BINL) to invest $15 billion in a new 500,000 bpd refinery and FTZ in Ondo State, furthering Nigeria’s path to self-sufficiency.

2. Gas Expansion & Clean Energy • NNPC signed a $3.5 billion MoU with Akwa Ibom and GACN to drive gas industrialization.

• Presidential CNG Initiative (PCNGi) attracted $980 million in CNG investments, creating over 100,000 jobs, deploying 100,000 CNG vehicles and 4,000 trucks.

• NGML signed a 44MMscf/d gas supply deal; AKK pipeline works continue with accelerated contractor mobilization.

3. Electricity Sector Transformation • Power generation averaged 4,336 MW in Q1 2025, the highest in over a year; DisCos achieved a 95.86% remittance rate.

• Osun and Enugu States operationalized independent electricity laws; the UNDP projected a reversal of $29 billion annual GDP losses if reform momentum is sustained.

• Nigeria’s Super Grid Plan, backed by an $18.2 billion loan, and NDPHC's commercialization of 200MW stranded power set the stage for system-wide improvements.

4. Renewable Energy & Electrification Access • REA secured $1.6 billion in finance for off-grid energy and commissioned 15 solar mini-grids in three states.

• Oando progressed on its 1.2GW solar assembly plant; Qoray and TotalEnergies launched EV support infrastructure.

5. Upstream Oil Developments • Nigeria secured over $16 billion in upstream investments. Shell paid $1.2 billion in royalties and increased its stake in Bonga North.

• Seplat revived 29 idle wells, raising production to 134,000 boepd; FIRST E&P entered a JV to explore Tanzania’s Mnazi Bay North Block.

• Nigeria exceeded its 1.5 mbpd OPEC quota in June, with production averaging 1.7 mbpd including condensates.

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6. Host Community & ESG Reforms • NUPRC confirmed remittance of ₦154 billion and $149 million to 102 Host Community Development Trusts (HCDTs).

• HostComply, a digital compliance portal, is under development to enhance fund transparency and project oversight.

7. Investment & Trade Dynamics • Nigeria exported $1.34 billion in crude oil to the U.S. in 5 months, maintaining top African supplier status despite lower volumes.

• U.S. became a net exporter of crude to Nigeria due to Dangote’s import needs—a temporary reversal of trade flow.

• S&P and Nigeria launched a West African fuel pricing index, supporting transparency and regional trading goals.

8. Policy, Regulation & Institutional News • The Senate passed the Bitumen Development Commission Bill, unlocking access to Nigeria’s 42 billion tonnes of reserves.

• 36 states opposed the Electricity Act Amendment Bill, citing its impact on already devolved electricity markets.

• NADDC issued national standards for gas-powered and electric vehicle maintenance.

• NEMSA and NISO commenced joint efforts to enhance metering accuracy and grid safety.

• Federal government and the private sector pushed for stronger safety measures to curb gas explosions through the Gas Safety Conference.

9. Private Sector Leadership • Rainoil commissioned 10 new LPG outlets; Dangote moved to reduce cooking gas prices and may sell directly to consumers.

• APM Terminals and LASWA adopted CNG and solar technologies to decarbonize port and ferry operations.

• Instollar’s InstallHER and All On’s tech investments are catalyzing women empowerment and smart energy monitoring.

Conclusion & Strategic Outlook Nigeria’s energy sector in July 2025 presents a mosaic of industrial capacity growth, gas market acceleration, local content expansion, and international investor attention. However, risks related to inflationary fuel pricing, subsidy transitions, and market structure remain.

Strategic follow-through on reforms, transparency in HCDT funding, and delivery of power infrastructure are critical to sustaining momentum.

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FG targets distribution of 5 million LPG cylinders by 2030 The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has flagged off the North-West zone grassroots Liquefied Petroleum Gas (LPG) penetration programme and cylinder distribution initiative in Sokoto State.

The programme, which aims to promote the use of clean cooking gas across the country, targets a fivemillion Liquefied Petroleum Gas (LPG) cylinder penetration by 2030.

The programme, he said, has already been launched in the South-West, SouthSouth, and North-East Zones, following its successful launch in Abuja in May 2024.

per annum over the next five years. The minister explained that the initiative is designed to have a multifaceted impact, “protecting the health of our women and children by reducing indoor air pollution, while creating jobs and livelihoods along the LPG value chain.”

According to him, it will also strengthen local enterprises through support for Nigerian manufacturers and distributors, and preserve the environment by curbing deforestation and reducing greenhouse gas emissions.

(ThisDay, July 1, 2025)

Ekpo announced that the federal government had revised its target upwards to distribute five million LPG cylinders by 2030, with an average of one million households being converted

Two firms partners to deliver clean energy to 600 million Africans Genesis Energy Holding, a Pan-African clean energy infrastructure development company, and Desert Technologies have signed a strategic collaboration agreement aimed at accelerating clean energy access in Nigeria and other parts of the African continent. Their target is to reach over 600 million people lacking electricity access across the continent.

The agreement signed at the 27th Africa Energy Forum builds on a Memorandum of Understanding (MoU) established between both companies earlier in the year in Dubai, executed by Desert technologies chief executive officer, Khaled Sharbatly, and Genesis chairman, Akinwole Omoboriowo II.

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The signing ceremony at AEF underscored both companies' commitment to forging high-impact partnerships that align with Africa's electrification goals and global sustainability priorities.

(ThisDay, July 1, 2025)

In a statement jointly issued in Jeddah, Saudi Arabia,

Renaissance unveils corporate brand at NOG 2025 Current operator of onshore assets of the defunct Shell Petroleum Development Company Nigeria (SPDC), Renaissance Africa Energy Company Limited, recently unveiled its corporate brand at the 2025 Nigeria Oil and Gas (NOG) Energy Week, which took place in Abuja from June 28 to July 2nd.

The company said in a

and London, the United Kingdom, the MOU laid the foundation for “this strategic partnership, focused on the joint development and deployment of clean energy solutions across Africa, which will also include strategic financing under the partnership.”

statement that the unveiling marked a defining moment for Renaissance, which emerged in March 2025 as the operator of the SPDC Joint Venture, following the $2.4 billion acquisition by Renaissance Africa Energy Holdings Limited, a consortium of leading Nigerian independents: ND Western, Aradel Energy,

First E&P, Waltersmith Petroleum, and international partner, Petrolin Trading Limited.

represents a new era of Nigerian-led energy leadership, built on excellence, sustainability, and a deep commitment to national development.”

(ThisDay, July 1, 2025)

Speaking ahead of the brand launch, the managing director and chief executive officer of Renaissance, Tony Attah, said, “Renaissance is more than a name, it is a bold declaration of intent. It

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Instollar empowers women solar technicians in Nigeria In a bold step toward building a more inclusive green economy, Instollar Technologies has launched the second cohort of its groundbreaking InstallHER Initiative- a clean energy training and empowerment programme designed to bring more women into Africa's fast-growing solar industry.

entrepreneurs, and agents of change in their communities.

The programme, according to the company, aims to reach 10,000 women by 2030, making it one of the most ambitious femalefocused clean energy initiatives in the region.

(ThisDay, July 1, 2025)

With support from the Acumen Angels Grant, InstallHER is currently training 100 women across Nigeria to become certified solar technicians,

Oil firms remit N57bn to host communities in one year Oil and gas companies operating in Nigeria remitted a total of N57.07 billion to Host Community Development Trusts in 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said.

explained that a total of 207 applications for Host Community Development Trusts were received, of which 154 Trusts were approved and 136 were successfully registered with the Corporate Affairs Commission (CAC).

A report by NUPRC stated that the amount under review represents three per cent of the actual annual expenditure of the oil firms for the preceding year, in line with provisions of the Petroleum Industry Act (PIA).

On project management, the report disclosed that 32 fund managers were approved to oversee fund disbursement, and that 187 projects were ongoing across the various Trusts.

The report further said that the total contributions made so far to the Host Community Development Trusts come to N65.15 billion, if added to the N8.45 billion remitted in 2023. NUPRC also

NNPC gets N6-trillion revenue in one month The Nigerian National Petroleum Company (NNPC) Limited has said it generated a total revenue of N6.008 trillion in May 2025, marking a marginal increase from the N5.972 trillion posted in April, even as crude oil and condensate production also showed slight improvement during the month.

According to the latest Monthly Report Summary Page 4

released by the company, profit after tax rose by 14 per cent to N1.054 trillion in May, up from N926 billion in April.

breakdown shows that crude oil output held flat at 1.35mbpd, while condensate volumes recovered slightly to 0.28mbpd in May from 0.26mbpd in April.

Crude oil and condensate production climbed to 1.63 million barrels per day in May from 1.61mbpd in April, maintaining a steady recovery trend. The production peak for the month reached 1.72 million barrels per day (mbpd). A

Similarly, gas production rose slightly to 7.354 billion standard cubic feet per day, up from 7.352 billion scfd the previous month. Gas sales, however, dipped marginally from 4.240 billion scfd in April to 4.185bn scfd in May. On

It also highlighted that the development and integration of the NUPRC's digital portal, HostComply, was ongoing to support compliance tracking, fund allocation, reporting, and dispute resolution.

(Punch, July 1, 2025)

the sales side, crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.

(Punch, July 1, 2025)

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NCC, REA to power telecoms operations with renewable energy The Nigerian Communications Commission (NCC) and the Rural Electrification Agency have officially launched the NCC-REA collaboration committee to boost Nigeria's digital and energy inclusion goals.

According to NCC's acting head of public affairs, Nnenna Ukoha, this collaboration will focus on deploying renewable energy solutions to support telecom infrastructure, particularly in rural and underserved areas. The inauguration ceremony at the NCC headquarters in Abuja was presided over by the executive vice chairman and chief executive officer of NCC, Dr. Aminu Maida.

Maida was joined by the managing director of the

REA, Abba Aliyu, along with senior executives and committee members from both organizations. He described the collaboration as a timely and strategic alignment of national priorities and also noted that bridging the connectivity and power gaps in rural areas remains critical for Nigeria's growth and development.

The NCC boss highlighted that the demand for digital services and connected communities creates an opportunity for renewable energy to play a crucial role, explaining further that the partnership goes beyond infrastructure and is aimed at driving inclusion, reducing inequalities, and fostering shared prosperity.

(Punch, July 2, 2025)

Senate passes bitumen development commission bill After two years of legislative deliberations, the senate has finally passed the

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bill seeking to establish the Bitumen Development Commission.

Nigeria's oil sector received $16bn investments in two years Nigeria's upstream oil and gas sector is luring investors, with more than $16 billion in investment commitments secured in just two years, says the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

This achievement comes on the back of far-reaching reforms and bold policy moves designed to reposition the sector for energy security, sustainability, and economic resilience.

Speaking recently at the 24th Nigerian Oil & Gas Energy Week in Abuja,

The bill, sponsored by Senator Jimoh Ibrahim (APC, Ondo South) scaled third reading, following the presentation and adoption of the report by the senate committee on solid minerals development.

Presenting the report, Senator Diket Plang (APC, Plateau Central), a member of the committee, said the proposed commission would serve as a regulatory body for the exploration, exploitation, and production of Nigeria's bitumen resources, estimated at 42 billion tonnes, the second largest deposit in the world.

Plang noted that the committee held a public hearing on the bill, during

Gbenga Komolafe, who is the chief executive of NUPRC, stated that Nigeria is entering a new era of upstream investment, anchored on policy certainty, operational efficiency, and an ambitious production expansion agenda.

(BusinessDay, July 2, 2025)

which critical stakeholders overwhelmingly backed the establishment of the commission.

In his remarks, Godswill Akpabio, the senate president, commended Ibrahim and the committee for their efforts, describing the bill as a developmentdriven initiative that would help harness Nigeria's vast solid mineral wealth.

(BusinessDay, July 2, 2025)

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NLNG makes case for technology domestication as Train 7 nears completion The deputy managing director of NLNG, Mr. Olakunle Osobu, has made a strong case for the domestication of technology in the oil and gas industry as the construction of Train 7 nears completion.

The project aims to expand the company's production capacity by 35% to 30 million tonnes per annum (mtpa), down from 22 mtpa.

NLNG's Train 7, which was sanctioned on December 27, 2019, with the Engineering, Procurement, and Construction (EPC) contract awarded to the SCD JV Consortium, is expected to position Nigeria as a toptier supplier of LNG, leveraging its vast proven gas reserves of 202 trillion cubic feet. Speaking at the just concluded 2025 NOG Energy Week's Strategic Panel Session on “Technology as a Local Content Imperative: From Adoption to

Domestication,” Osobu emphasized the importance of domesticating technology in the oil and gas industry.

He noted that Nigeria has successfully built Trains 1-6 with significant participation from Nigerian contractors and highlighted the need to localize technology, adding that oil and gas technology is too important to be propagated in foreign languages when Nigerian languages remain untapped. He cited examples of countries like Russia, China, and France that have successfully used their indigenous languages to develop their technologies.

(Vanguard, July 2, 2025)

Oil producers get boost as NNPC clears legacy debts The chief executive officer of Seplat Energy Plc, Roger Brown, has said the Nigerian National Petroleum Company Limited has cleared its legacy debts and now

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operates with improved financial alignment and discipline, a development he described as “a game changer” for indigenous oil producers.

Speaking during a high-

Shell pays $1.2bn royalties to Nigeria in one year Shell Companies in Nigeria (SCiN) has made a combined payment of $1.2 billion in royalties to Nigerian government in 2024, Chidi Nkazi, a senior business economist at the company has revealed.

Nkazi, who is also a business value manager for Shell, said that Shell Nigeria Exploration and Production Company Limited (SNEPCo) and Shell Nigeria Gas (SNG) collectively paid $1.208 billion in combined royalties to the Nigerian government last year.

$5 billion Bonga North deep-water project.

SNEPCo is increasing its interest in the Oil Mining Lease (OML) 118, which includes the Bonga field, from 55 percent to 67.5 percent, through the acquisition of the 12.5 percent stake of TotalEnergies.

(BusinessDay, July 2, 2025)

According to him, Shell is also investing in Nigeria's future with the Final Investment Decision on the

powered panel session titled “Harnessing Africa's Energy Shift- From Acquisition to Optimization” at the recently concluded 2025 Nigerian Oil and Gas conference in Abuja, Brown praised NNPC for its renewed focus on operational efficiency and partnership.

According to him, NNPC has since transformed its payment and cash flow structure, creating room for smoother partnerships with independent producers.

(Punch, July 3, 2025)

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FG adds 37 crude evacuation routes as oil rigs increase to 44 The Federal Government has approved 37 new crude oil evacuation routes across the country as part of reforms to bolster production and curb theft.

This was made known by the chief executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, who also said that the number of

crude oil rigs has increased from eight in 2020 to 44 currently.

Komolafe added that the new evacuation routes were part of a broader strategy to restore asset integrity, ensure secure transportation of crude, and support the ongoing Project One Million Barrels initiative.

(Punch, July 3, 2025)

NASENI to commence construction of factories for renewables The National Agency for Science and Engineering Infrastructure (NASENI) has hinted at plans to commence the construction of factories that will produce renewable energy materials such as batteries, panels, as well as electric vehicles.

The executive vice chairman of NASENI, Khalil Halilu, made the disclosure at a joint press conference at the Technology Village (ATV) recently in Abuja.

His words: “We are going to start work by next week, and in six months, we'll come back to see how far the work has gone. We can transform from a research and development agency to an agency that does production so that we don't keep our research and development on the shelves as prototypes, but we ensure

NNPC/First E&P JV hits 10 million man-hours without incident The Nigerian National Petroleum Company (NNPC) Ltd/FIRST Exploration and Petroleum Development Company Joint Venture has achieved a significant safety milestone, marking 10 million lost time incident-free manhours across its operations on PML 53 and PML 54.

A statement from the JV

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stated that the milestone was celebrated with a dinner and award presentation ceremony in Lagos recently, attended by industry leaders, stakeholders, and partners.

Minister of state for petroleum resources (oil), Senator Heineken Lokpobiri, commended the

that they have been transformed into something usable for the country as a whole.”

“Today, we are here at the Abuja Technology Village, where we fulfill our commitment to be one of the tenants to establish manufacturing outfits from renewable to so many other products.

“We will also attract other partnerships to this beautiful place and we hope for a much brighter future where we can create a lot of jobs for the country.”

(ThisDay, July 4, 2025)

leadership and staff of FIRST E&P for their exemplary safety record and contributions to Nigeria's energy sector. He also praised FIRST E&P's managing director, Ademola Adeyemi-Bero, for being an excellent ambassador of Nigeria and Africa in his role as chairman of the OPEC board of governors.

(Punch, July 5, 2025)

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NCC pushes solar adoption to ease telecoms' energy cost The Nigerian Communications Commission (NCC) is intensifying efforts to promote the use of renewable energy, especially solar, in the country's telecoms sector, aiming to reduce operators' reliance on diesel and lower costs.

Industry experts estimate that telecom operators use at least 40 million liters of diesel each month to maintain the country's communications backbone.

This amounts to more than $350 million (N534.16 billion) annually in diesel expenses, according to the State of Africa's Infrastructure Report 2025 by the Africa Finance

Corporation.

Nigeria's national grid generates less than 5,000 MW despite energy demands of nearly 200,000 MW, forcing citizens and companies to rely on alternative energy sources like diesel and petrolpowered generators.

(BusinessDay, July 6, 2025)

NNPC achieves 100% crude oil pipeline availability in June In a remarkable turnaround, the Nigerian National Petroleum Company (NNPC) Limited has declared 100% crude oil pipeline availability for June 2025, a milestone once unimaginable at the height of rampant sabotage.

At its heart is a transformative partnership with Pipeline Infrastructure Nigeria Limited (PINL), whose community-focused approach has undercut the sabotage economy and

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shown that real security must have local ownership at its core.

Nigeria's 5,000-kilometre pipeline network was once notorious for leaks and attacks. At its worst, the country lost about $700 million monthly to theft.

Pipelines like the Trans Niger Pipeline (TNP) sometimes delivered as little as 5% of the crude pumped through them, as relentless attacks crippled output.

Aba Power, customers reap benefits from N33bn mass metering project The managing director of APL Electricity Distribution Company (Aba Power), Ugo Opiegbe, has said that the ongoing mass metering project has turned out to be a huge mutual blessing for the Disco and its customers.

The free mass metering, estimated to cost N33 billion, was rolled out in May and is being implemented in partnership with four meter manufacturing firms. It has a set target of covering no fewer than 100,000 customers in the Aba ringfenced area, comprising nine of the 17 Local Governments in Abia State, before the end of the last

quarter of 2025.

Opiegbe said in a statement made available via e-mail that the metering project “is a win-win for both the company and customers, all critical business metrics considered”.

(ThisDay, July 7, 2025)

This crisis turned a corner when PINL introduced its community-first security blueprint. Unlike the military-heavy tactics of the past, PINL embedded itself within the Niger Delta's social fabric, shifting host communities from suspicion to stake-holding.

(ThisDay, July 7, 2025)

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FG to end low-quality solar equipment use, gets testing devices from Huawei Nigeria took steps to curb the deployment of substandard equipment in the renewables segment of the power sector, with the Rural Electrification Agency (REA) receiving devices from a Chinese Company, Huawei, to test the authenticity of products, both local and imported.

At a brief handover ceremony in Abuja, the Chief Executive of the REA, Abba Aliyu, reiterated the role played by President Bola Tinubu, following his recent visit to China, stressing that the equipment will help reduce cases of low-quality materials in Nigeria's renewable energy drive.

of the results of the ChinaAfrica Initiative, which saw the signing of a Memorandum of Understanding (MoU) at the time. The MoU, according to the REA boss, was signed to enable Huawei to support the agency in developing a world-class mini-grid standardization and simulation centre in Abuja.

(ThisDay, July 7, 2025)

In September 2024, the President visited China and the new development is part

NNPC donates 35 CNG buses to PCNGi The Nigerian National Petroleum Company Ltd has handed over 35 hybrid Compressed Natural Gaspowered buses to the Presidential Compressed Natural Gas Initiative (PCNGi).

During a brief ceremony held at the NNPC Towers on in Abuja recently, the

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group chief executive office of NNPC Limited, Bashir Ojulari, reiterated the company's commitment to supporting Nigeria's gas development aspirations.

The GCEO stated that the move was in line with NNPC's efforts to drive the adoption of CNG as a cleaner, cheaper, and sustainable fuel alternative.

TotalEnergies' Ubeta project to add 70,000 barrels to Nigeria's daily gas output TotalEnergies has announced that its Ubeta gas field project, located in the OML 58 onshore license, has entered the execution phase and is expected to contribute 70,000 barrels per day (bpd) of gas and condensates to Nigeria's production capacity by 2027, Matthieu Bouyer, country chair of TotalEnergies in Nigeria has said.

off the southeast coast of Nigeria.

While describeing the project as a significant step toward achieving Nigeria's gas development goals, Bouyer acknowledged the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NNPC Limited, stating that their collaboration has helped accelerate the project's progress. In addition to the Ubeta project, Bouyer also provided updates on the IMA gas field, located within OML 112 and 117 under the AMNI/TEPNG Joint Venture, 15 kilometres

The TotalEnergies boss highlighted recent developments, including the Ntokon discovery, which is moving toward development, and the acquisition of new oil blocks within the past year.

He added that the company has recorded significant progress on gas supply, infrastructure, distribution, and retail outlets.

Ekpo, said the CNG buses represent not just vehicles but serve as instruments of economic relief, social equity, and environmental responsibility.

On his part, the minister of state for petroleum resources (gas), Ekperikpe

He stated that the project is currently at the Front End Engineering Design (FEED) stage and is expected to reach Final Investment Decision (FID) in 2026.

Like Ubeta, the IMA project is projected to deliver 70,000 barrels of oil equivalent per day at peak production.

(The Guardian, July 8, 2025)

(Punch, July 8, 2025)

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FG, private sector push for stronger safety measures to curb gas explosions The federal government, in collaboration with private sector stakeholders, is intensifying efforts to address the growing threat of gas explosions at industrial sites and in domestic environments across Nigeria.

Speaking recently at a gas safety conference organised

by Fleissen Events in Abuja, the minister of state for petroleum resources (gas), Hon. Ekperikpe Ekpo, represented by Dr. Mustapha Lamorde, stressed the critical importance of safety in Nigeria’s gas industry.

He further stated that the government’s campaign to promote domestic LPG adoption has the potential to drive down prices and expand access to clean and efficient energy for millions of Nigerians.

Executive secretary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, represented by Engr.

Emmanuel Akinyemi, noted that the commission has introduced safety case guidelines for oil and gas facilities to ensure that operations are conducted in a responsible and secure manner.

“These guidelines focus on risk management, requiring operators to identify potential hazards, assess associated risks and apply preventive controls,” he Page 10

said.

Nigeria commissions 15 solar mini-grids in three states

According to him, “we are not just regulators who issue sanctions. We provide guidance and set clear criteria that operators must meet to attain safety certification.”

In a significant step towards bridging Nigeria's electricity access gap, 15 new solar mini-grids have been commissioned across Niger, Kogi, and Nasarawa States.

President of the Institute of Safety Professionals of Nigeria (ISPON), Dr. Udenzi Stephen, said the institute is working with relevant government agencies to standardize safety practices across the country.

The mini-grids, collectively delivering 1.4 MW of clean energy, are now powering homes, businesses, clinics, and schools, transforming the lives of more than 30,000 people in underserved rural

Dr. Udenzi recommended that safety training be incorporated into Nigeria’s formal education curriculum to ensure that future generations have foundational knowledge of critical safety protocols. He also raised concerns about the indiscriminate siting of gas stations, particularly within residential areas.

His words: “I’ve seen gas stations built right next to homes, which is extremely dangerous. One accident in such a setting could lead to mass casualties and the destruction of property.

“As professionals, we’re tired of watching Nigerians die avoidable deaths. Gas station licences should only be granted to applicants who hold certified safety credentials.”

(NewsDirect, July 9, 2025)

communities.

The project is part of a landmark $60 million project finance agreement with CrossBoundary Energy Access (CBEA), which financed the infrastructure.

ENGIE Energy Access led the construction and now oversees the operation of the mini-grids, ensuring long-term sustainability and reliable energy delivery.

(SolarQuarter, July 9, 2025)

Aiteo rebrands as Nembe E&P, launches new crude terminal In a strategic move signaling its operational revival and host community alignment, Aiteo Eastern Exploration and Production Company Limited has officially rebranded as Nembe Exploration and Production, Nembe E&P, following the successful restart of oil production after over a year of shutdown.

identity, and renewed commitment to national growth.

The OML 29 operator, which faced significant evacuation challenges, pivoted from its previous logistics model to a Floating Storage and Offloading, FSO system, enabling a new export route and the branding of a unique crude grade, Nembe Crude.

Announcing the rebranding in Abuja recently, the company's group managing director, Victor Okoronkwo, said the name change and the development of the Nembe Crude Export Terminal mark a new chapter of resilience, brand

Okoronkwo explained that the decision to rename the company was deeply rooted in the company's geographical and operational heritage.

(SweetCrude Reports, July 9, 2025) Fleissen & Company

August 2025

Nigeria targets end to diesel with $60mn green port plan Nigeria is moving decisively to phase out diesel dependency and cut carbon emissions through a hybrid energy revolution that will deliver 24/7 power to infrastructure hubs such as ports, Vice President Kashim Shettima has announced.

discussion. Calling the Onne project a “strategic leap,” the vice president underscored that Nigeria's future infrastructure must be powered by sustainability, not outdated systems.

(SweetCrude Reports, July 9, 2025)

Speaking at the Decarbonising Infrastructure in Nigeria Summit in Abuja, recently, Shettima also announced a landmark plan to transform Onne Port in Rivers State into Nigeria's first fully green port through a $60 million private investment deal already under

BINL to build $15bn refinery in Ondo Petroleum refining capacity in Nigeria may increase by 500,000 barrels per day (bpd) as Backbone Infrastructure Nigeria Limited (BINL) has unveiled plans to build a $15-billion refinery and establish a free trade zone (FTZ) in Ondo State.

The assets, which may rival the existing 650,000 bpd refinery from Dangote and Nigeria-owned 445,000 bpd refineries, could increase Nigeria's quest for energy self-sufficiency and industrial growth. The proposed refinery will be

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sited at the Sunshine Industrial Park in Ogboti, Eruuna, within the Ilaje Local Government Area.

The project, a joint venture with the Ondo State government, through its development agency, ONDIPA, is expected to take off in phases, starting with a 100,000-bpd module, and will be delivered within 48 months.

Dangote Refinery to end crude oil imports in December The Dangote Oil Refinery is planning to end crude importation by December 2025, a report by Punch, quoting Bloomberg has said.

The refinery is willing to rely fully on Nigerian crude by the end of the year, a move that would replace hundreds of thousands of barrels a day of imported oil. Bloomberg reports that the plant received about half of its crude in June from local producers who would be able to sell more to the facility as their foreign supply obligations end soon.

the facility relied heavily on the United States for crude supply despite the naira-forcrude deal. However, the vice president of Dangote Industries, who oversees the 650,000 barrel-a-day plant in Lagos, Devakumar Edwin, said the contracts with foreign crude suppliers would expire and the refinery would source its feedstock locally.

(Punch, July 9, 2025)

Aliko Dangote, who is the company's founder and president, said recently that

said the refinery would serve both domestic and international markets, supplying refined petroleum products for local consumption as well as feedstock for allied industries.

(The Guardian, July 10, 2025)

Speaking ahead of a scheduled courtesy visit to the Governor of Ondo State, Lucky Aiyedatiwa, BINL's vice president for corporate services, Wale Adekola,

Fleissen & Company

August 2025

Oil companies give N97 billion, $149 million to host communities The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that 102 Host Community Development Trusts have received N97 billion and $149 million as HCDT funds remitted by settlers.

NUPRC's representative, Chidinma Nwabueze, disclosed this in Abuja, explaining further that NUPRC facilitated the remittances of N97 billion and $149 million into the HCDTs fund account as of May 19. The Petroleum Industry Act requires oil exploration companies (settlors) to allocate three per cent of their operating expenditure of the previous year for the development of their host communities.

Ms Nwabueze said that the HCDT was incorporated and funded by the Settlors (Licencees) from three per cent of the OPEX of the annual expenses from the preceding year. She added that the commission had also been able to approve 167 applications fully issued as approval to incorporate.

(Peoples Gazette, July 10, 2025)

All On invests $250,000 to scale operations in Nigeria In a move that reinforces its mission to expand energy access across Nigeria, All On, a leading impact investment company, has announced a strategic investment of $250,000 in enee.io, a cutting-edge technology firm specializing in advanced energy monitoring systems.

The investment marks a significant step in scaling

Page 12

enee.io's sales operations within Nigeria, enabling the company to broaden its reach and impact in the offgrid energy sector. enee.io is recognized for its intelligent software solutions that simplify energy management and enhance the efficiency of renewable energy systems, an ideal fit with All On's commitment to supporting scalable, high-impact clean

Dangote's 1.6 million-barrel capacity tanks to deliver fuel in four countries Nigeria's Dangote Petroleum Refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of petrol and diesel to supply refined fuel to Southern Africa, two sources told Reuters on Wednesday.

The move underscores the refinery's ambition to dominate fuel supply in Africa and beyond, potentially reshaping energy trade flows in the region and boosting access to refined products for Southern African nations.

The 650,000 barrels per day refinery, built for $20 billion by Africa's richest man, Aliko Dangote, started operations last year and has been ramping up production and seeking new markets.

storage tanks would be used to supply petrol and diesel to Botswana, Namibia, Zambia, and Zimbabwe.

Namibia Port official confirmed construction plans.

It has also been claimed that Dangote is also considering supplying fuel to the southern Democratic Republic of Congo.

(Business Express Namibia, July 10, 2025)

According to sources, who were briefed on the development, said the

energy businesses.

sustainable future.

enee.io's technology goes beyond innovation, building trust in renewable energy by equipping users with the tools to monitor and manage their energy systems effectively.

(BusinessDay, July 11, 2025)

This empowers individuals and businesses to make informed decisions, optimize energy use, and contribute to a more

Fleissen & Company

August 2025

LASWA to embrace CNG as alternative energy for ferries The Lagos State Waterways Authority (LASWA) is set to embrace Compressed Natural Gas (CNG) as an alternative energy for ferries in the state.

The move was made in a strategic engagement meeting between LASWA, the Presidential Initiative on Compressed Natural Gas (Pi-CNG), representatives of RIL Hydro Kraft (promoters of CNG for Marine), key boat operators, and marine stakeholders across Lagos state. The meeting was held at LASWA's headquarters in Lagos.

electric ferries as part of LASWA's long-term commitment to reducing carbon emissions, enhancing passenger safety, and lowering operational costs for operators.

He said the waterways are central to Lagos' future mobility plans, and that energy transition remains a core pillar in actualizing this vision.

(Worldstage, July 11, 2025)

The general manager of LASWA, Mr Oluwadamilola Emmanuel, highlighted the strategic importance of introducing CNG-powered boats and

This comes amid ongoing efforts by the Nigerian

Page 13

The Nigerian National Petroleum Company (NNPC) Limited, will be listing on the stock exchange by 2028, the Group Chief Executive Officer of the state oil company, Bayo Ojulari, has revealed.

“We have a roadmap to be listed by 2028,” Ojulari told participants at the 9th Organization of the Petroleum Exporting Countries (OPEC) International Seminar in Vienna, Austria, including OPEC ministers and top oil industry officials.

transformational journey since the enactment of the Petroleum Industry Act (PIA). The PIA has reset and brought stabilization to the energy industry, particularly oil and gas in Nigeria. It gives us the roadmap and allows us to monitor our progress.”

(App, July 13, 2025)

“Nigeria has been undergoing a

NNPC sets market-driven conditions for crude oil supply to Dangote Refinery Nigeria's state-owned oil giant, the Nigerian National Petroleum Company (NNPC) Limited has reaffirmed its commitment to supplying crude oil to the Dangote Refinery based strictly on commercial and market-driven terms.

NNPC to list on stock exchange in 2028

government to reduce its dominance in the private oil and gas sector and foster a more liberalized market structure.

Business Insider Africa quoted the group chief executive officer of NNPC, Bayo Ojulari, as saying in a recent interview with Bloomberg, where he

addressed the ongoing conversation around domestic crude oil supply to Africa's largest refinery. He explained that while the government is committed to improving local crude oil supply to the refinery, the process must remain market-driven.

largest single-train refinery in Africa and among the largest globally. The Lagosbased facility is expected to meet Nigeria's domestic fuel needs and significantly reduce reliance on petroleum imports.

(Business Insider Africa, July 13, 2025)

His comments came amid renewed efforts by the Nigerian government to foster a more liberalized oil and gas industry and reduce direct state control in private sector operations.

Dangote Refinery, with a refining capacity of 650,000 barrels per day, is the

Fleissen & Company

August 2025

Nigeria to push for 25% hike in OPEC quota by 2027 The Nigerian National Petroleum Company (NNPC) Limited has revealed plans to push for a 25% increase in Nigeria's oil output quota by 2027, citing refinery growth and improved production.

Nigeria is hoping to approach the Organization of Petroleum Exporting Countries (OPEC) to raise the country's crude oil production quota by 25 per cent on the back of expectations that output will be raised soon.

The national oil company is also targeting 2 million barrels per day from 2027,

with plans to be included in the upcoming talks over updated country capacities, the group chief executive officer of NNPC, Bashir Ojulari is reported to have said.

Nigeria's current crude quota is 1.5 million bpd, but Ojulari said current production is slightly below that at around 1.4 million bpd. Including around 250,000 bpd of condensate, that takes current oil output to around 1.65 million bpd, just shy of the country's oil production capacity.

(Arise News, July 14, 2025)

NNPC, Akwa Ibom, GACN sign $3.5bn gas deal The Nigerian National Petroleum Company (NNPC) Limited has signed a $3.5 billion Memorandum of Understanding (MoU) with Akwa Ibom State government and the Gas Aggregator Company of Nigeria (GACN).

the minister of state for petroleum resources (gas), Ekperikpe Ekpo, alongside representatives from the governments of Akwa Ibom, Cross River, and Rivers State.

(The Guardian, July 16, 2025)

The company announced that the ceremony was held during the opening session of the South-South Gas Utilization Forum 2025 in Uyo, the Akwa Ibom State capital. It further noted that the agreement underscores the South-South geopolitical zone's commitment to driving gas industrialization for shared prosperity.

The forum was attended by

Nigeria exceeds 1.5 mbpd OPEC output quota for June

1,505,474 barrels, representing 100.4 per cent of the OPEC quota. Oil production, including crude and condensate, was approximately 1.7 mbpd.

This was an improvement in crude production when compared to the previous months.

Nigeria's average daily crude production rose above the quota allocated to it by the Organization of the Petroleum Exporting Countries in June 2025. For the second time in 2025, the country exceeded its OPEC quota of 1.5 million barrels

In May, crude output stood at 1.45mpd while both crude and condensate were 1.65mbpd. Production was as low as 1.60 in March.

NUPRC said “the lowest and peak combined crude oil and condensate production in June were

Page 14

per day, first in January and second in June.

According to a report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country's average daily crude production was

1.61 million bopd and 1.82 million bopd, respectively.

“The average crude oil production was 100.4 per cent of the OPEC quota (1.5 mbpd). The daily average production in June was 1,697,045 barrels per day, comprising both crude oil (1,505,474 bopd) and condensate (191,572 bopd).” However, the output was still below the targeted 2.06mbpd projected in the 2025 budget.

(Punch, July 16, 2025)

Fleissen & Company

August 2025

Dangote moves to crash price of cooking gas President of the Dangote Group, Alhaji Aliko Dangote, has made moves to crash the price of Liquefied Petroleum Gas, also known as cooking gas.

affordable for the common people who depend on firewood for cooking.

(The Guardian, July 16, 2025)

Dangote also said his company will kick off the direct sales of cooking gas to consumers if distributors fail to allow the reduction in the price of the product, especially after operators in the sector disagreed with the plan.

Rainoil Gas expands LPG network with 10 new outlets in Nigeria Rainoil Gas Limited has significantly expanded its footprint in Nigeria's energy sector with the commissioning of 10 new liquefied petroleum gas (LPG) retail outlets in the first half of 2025.

The new locations include a combination of six 30metric-ton LPG plants and four add-on skid units, strategically located across the South-West, South, and North-Central regions.

Operational sites now provide expanded availability of LPG to a growing number of Nigerian households.

Dangote revealed his plan during a recent tour of his refinery by some local and foreign guests, with the businessman saying that the current price of cooking gas is expensive and not

Dangote to build biggest seaport to facilitate LPG export

The move aligns with the company's broader mission to improve nationwide access to safe, clean, and affordable cooking energy.

This latest development marks a milestone in

President of the Dangote Group, Aliko Dangote, has submitted paperwork to build the “biggest, deepest seaport in Nigeria” in Ogun State.

involve constructing pipelines from the Niger Delta.

In an interview with Bloomberg, Dangote said he has applied to begin work at the proposed Atlantic seaport in Olokola, Ogun State. According to the entrepreneur, the initiative would ease the export of goods, including liquefied natural gas (LPG) and support the rapid

Page 15

growth of his industrial empire. The port marks the billionaire's return to the site where he had previously abandoned plans to build his refinery and fertilizer complex after a fallout with local authorities.

Rainoil's infrastructure strategy, aimed at meeting rising consumer demand for cleaner energy alternatives and closing the gap in lastmile LPG distribution.

The expansion also reinforces Nigeria's national drive toward energy transition and universal access to clean cooking solutions by 2030. Rainoil Gas confirmed that additional LPG outlets are planned for the near future as part of its continuing investment in Nigeria's clean energy future.

(Mobility Plaza, July 16, 2025)

(Daily Trust, July 16, 2025)

Also speaking during another interview, Devakumar Edwin, vicepresident of the Dangote Group, said the group plans to export liquefied natural gas (LNG) from Lagos. He said the project that will

Fleissen & Company

August 2025

ExxonMobil Nigeria appoints new chairman, managing director ExxonMobil has appointed Jagir Baxi as Chairman, Managing Director, and Lead Country Manager, of its affiliates in Nigeria. This includes Esso Exploration and Production Nigeria Limited and Esso Exploration and Production Nigeria (Offshore East) Limited.

Baxi, who succeeds Shane Haris, brings a wealth of experience and proven leadership to his new role, where he will oversee ExxonMobil's business in Nigeria. A statement by the company revealed that Harris transitions to ExxonMobil Headquarters in Houston.

Commenting on his appointment, Baxi said “I am honoured to lead our exceptional Nigeria team and build on the work that Shane Harris has done over the past two years. My personal commitment is to sustain and grow the strong collaborative relationships we have built with the

Nigerian Government, NNPCL, venture partners, various contractors, and the communities in which we operate.”

He added that “Nigeria has significant offshore deepwater growth potential in oil and gas. When combined with the improving investment climate, inherent advantages of already existing deepwater assets at Erha and Usan, and the remarkable talent of this country, I feel very privileged to be a part of the ExxonMobil team that is working hard to deploy our global deepwater capabilities and strengths to support Nigeria in achieving its oil and gas industry aspirations.”

Prior to his appointment, Baxi was executive director, production, for all ExxonMobil affiliates in Nigeria.

(SweetCrude Reports, July 17,2025)

Qoray, TotalEnergies announce after-sales support partnership for electric vehicles In a bold step to enhance electric vehicle (EV) ownership in Nigeria, Qoray has signed a Memorandum of Understanding (MoU) with TotalEnergies Marketing Nigeria, officially making the global energy giant its after-sales support partner for Qoray's 4-wheeler EV category.

With this partnership, Qoray EV owners can now visit select TotalEnergies Quartz Auto service for diagnostics, maintenance and repair, ensuring access to reliable, top-tier technical support. This move directly addresses one of the key challenges facing EV adoption, which is dependable after-sales care.

The MoU was signed on July 10, 2025 at a brief ceremony attended by key executives from both organizations.

Representing TotalEnergies Marketing Nigeria were the

36 states kick against Senate's electricity act amendment bill proposal commissioner of power and The Forum of Commissioners of Power and Energy in Nigeria (FOCPEN) has strongly kicked against the Senateproposed Electricity Act (Amendment) Bill 2025.

Page 16

The forum spoke through a statement jointly signed by Prince Eka Williams, its chairman, and Barr. Omale Omale, its secretary.

Williams, who is the

renewable energy, Cross River State, and his counterpart in Benue, Barr Omale, expressed surprise and concern over the ongoing deliberation in the Nigerian senate on the bill.

The group expressed dismay that the senate was

general manager, retail and cards, Abdullahi Umar; general manager, commercial, Weruche Nwagbara; network development and optimization manager, Samir Mrad; and executive director (secretary general), Emmanuel Morand-Ferh.

From Qoray, the event was attended by the chief executive officer, Olabanjo Alimi, alongside the vicepresident, mobility, Akin Akingbogun; and Ayo Falola, vice-president, energies; as well as Fatai Tella, COO, The Alternative Bank, Qoray's major financing partner, along with other members of the leadership team.

Speaking during the signing, Alimi emphasized the significance of the partnership as a practical response to customer concerns around EV servicing and infrastructure.

(ThisDay, July 18, 2025)

deliberating to amend the landmark law enacted barely two years ago, which more than 16 states have already adopted.

(BusinessDay, July 18, 2025)

Fleissen & Company

August 2025

Aradel appoints Osten Olorunsola as board chairman Aradel Holdings has announced the appointment of Augustine Osten Olorunsola, a non-executive director, as the interim chairman of its board of directors.

The appointment, effective July 9, 2025, was approved via a written board resolution dated July 17, 2025. Aradel said in a statement that the company secretary has been mandated to notify regulators and take necessary actions to implement the resolution.

notably in policy formulation, implementation, crafting legislation, opportunity realization regulation, field development, and commercial operations. He has previously served various companies and agencies of government in Nigeria, Italy, the Netherlands and the United States of America.

(Proshare, July 18, 2025)

Olorunsola is a geology graduate of the University of Ilorin in Kwara State with over four decades of experience-based knowledge, skills, and expertise in petroleum resource management,

Nigeria's CNG rollout attracts $800mn investment, 100,000 jobs The Presidential Compressed Natural Gas Initiative (PCNGi) has said that Nigeria's transition to gas-powered vehicles has attracted over $800 million in investments and created more than 100,000 jobs in the last year.

Matilda Johnson, explaining that the programme is recording massive progress.

The number of CNGpowered vehicles operating in the country is said to have risen to over 100,000, representing a fivefold increase within one year.

The agency disclosed this in a recent statement issued by its brand and corporate communications manager,

PCNGi maintains that the recent rollout of 4,000 CNG-powered trucks, 100 virtual pipeline vehicles,

Page 17

Qoray unveils new car charging station at Lagos Sheraton Qoray, in a strategic partnership with the Sheraton Lagos Hotel, has announced the launch of a new fast-charging station for electric vehicles, significantly advancing Nigeria's transition towards clean mobility.

Located in the hotel's main car park, the fully operational station is now accessible to all electric vehicle (EV) drivers, including hotel guests, business travelers, commuters and local residents. This new installation in Ikeja, a central hub for commerce, travel and residential life, underscores Qoray's commitment to closing the EV infrastructure gap and making electric mobility a practical reality for Nigerians.

complementing recent installations at the Lagos Marriott Hotel, Ikeja and established locations at Adeola Odeku and Marina.

Martin Bredenoord, the general manager of Sheraton Lagos Hotel, noted that the initiative aligns with the hotel's dedication to sustainability and its focus on delivering convenient, eco-friendly amenities.

(ThisDay, July 18, 2025)

The station joins a growing network of Qoray charging points across Lagos,

and multiple daughter stations by Dangote Group demonstrates the growing impact of the initiative on Nigeria's economy. It also noted that the number of conversion centers has grown from 7 to over 300 nationwide, driven by partnerships with small businesses and auto technicians, with an average

of 20 new centers being established every week.

(The Sun, July 18, 2025)

Fleissen & Company

August 2025

Nigeria targets $50bn hydrogen exports Nigeria is intensifying efforts to become a leading exporter of green hydrogen, with a plan to generate up to $50 billion in hydrogen revenue and produce four million tonnes of green ammonia annually by 2060.

This plan, reinforced at the Nigeria4H2 Project Result Workshop, an initiative that assesses the country's potential to transition from fossil fuel dependency to cleaner energy sources, shows that the Economic Community of West African States (ECOWAS) is seeking to shift towards green hydrogen. The project is being spearheaded by the Energy Commission of Nigeria (ECN) and supported by partners, including the West African Science Service Centre on Climate Change and Adapted Land Use (WASCAL) and the German government.

Speaking on behalf of Vice President Kashim Shettima,

presidential adviser, Dr. Tope Fasua, noted that the project remains a cornerstone of Nigeria's green transition strategy.

“The government considers green hydrogen, produced using renewable energy from solar and wind, as a vital tool for economic diversification, job creation, and achieving international climate targets,” he noted.

Fasua highlighted Nigeria's natural resources, including abundant sunlight, wind potential, and a youthful population, as key strengths in developing a scalable green hydrogen economy.

The strategy extends beyond energy transformation to include green ammonia production as a solution to Nigeria's fertilizer deficit, which has limited agricultural productivity and contributed to food insecurity.

Page 18

The United Nations Development Programme (UNDP) has said that the progress recorded by the implementation of the 2023 Electricity Act is capable of reversing Nigeria's energyrelated loss constraints, which are estimated between five and seven per cent of its Gross Domestic Product (GDP), amounting to approximately $25–29 billion annually.

Beyond these figures, the broader economic impacts of inconsistent electricity supply—particularly on productivity and business continuity – are substantial yet often underreported, said UNDP. The agency however expressed delight with the level of transformation so far attained by Nigeria after the Electricity Act, which

was assented to by President Bola Ahmed Tinubu on June 8t, 2023.

According to Geoffrey Omedo, who is the technical specialist, climate and energy finance at UNDP Nigeria, “without doubt, Nigeria's energy sector now stands at the cusp of a transformative era after the Electricity Act that was assented to by President Bola Tinubu on 8th June 2023.”

Omedo added that the landmark legislation signaled a decisive shift from a centralized, federaldominated electricity landscape to a more decentralized, privatesector-led, and multi-tiered electricity market.

(Leadership, July 19, 2025)

(The Guardian, July `19, 2025)

Nigeria secures $20bn China investment commitments The director general of the Nigeria-China Strategic Partnership, Joseph Tegbe, has disclosed that Nigeria has secured over $20 billion in investment commitments from China, aimed at transforming key sectors of the nation's economy.

Power reforms to reverse $29bn GDP loss in Nigeria's energy sector

Tegbe said the investments are channeled into critical sectors such as agriculture, automotive manufacturing, steel, energy, and mining, adding that they are part of ongoing efforts to fast-track Nigeria's industrial revival through deepened

collaboration with Chinese business leaders.

According to him, the $20 billion commitment was secured through a series of engagements, following the recent elevation of NigeriaChina relations to a comprehensive strategic partnership. He added that the investments will begin rolling out later this year.

(Punch, July 19, 2025) Fleissen & Company

August 2025

Nigerian company seals deal to develop oil block in Tanzania Nigeria's FIRST Exploration & Petroleum Development Company (FIRST E&P) has entered into a strategic agreement with the Tanzania Petroleum Development Corporation (TPDC) to assess and potentially develop the Mnazi Bay North Block, a gas-rich area in southern Tanzania.

The agreement, formalized through a Memorandum of Understanding (MoU) signed in Dodoma, Tanzania, is a major step forward in Tanzania's bid to harness its vast hydrocarbon reserves and improve energy access across the region. The event, held at TPDC's headquarters, brought together senior government officials, industry leaders, and other stakeholders.

At the heart of this collaboration is a shared vision to unlock the country's gas potential in a sustainable and commercially viable manner. FIRST E&P will fully fund the technical assessment phase, a move that underlines the company's confidence in the

Page 19

block's prospects and its long-term interest in Tanzania's upstream sector.

Having made notable progress in Nigeria, where it produces around 57,000 barrels of oil per day in partnership with NNPC Limited, FIRST E&P is now taking its expertise beyond its home base. The firm's managing director, Ademola Adeyemi-Bero, said the venture aligns with its strategic ambitions to expand across the continent, leveraging experience built on technical excellence, a high-performance workforce, and an entrepreneurial approach.

He noted that Tanzania's geographic position gives it a natural advantage as a regional energy hub. With the right blend of investments and policy stability, he added, the country could become a linchpin for gas distribution across Sub-Saharan Africa, helping to improve the security cross-border energy trade and supply in the region.

Nigeria exports $1.34bn crude oil to US in five months Nigeria exported crude oil worth $1.34 billion to the United States in the first five months of 2025, maintaining the country's position as America's leading African oil supplier.

to shifting market dynamics and a potential reconfiguration of US oil sourcing strategies, even as Nigeria remained top of the pile among African oil exporters.

Figures from the US Census Bureau and Bureau of Economic Analysis show that the US purchased a total of 17.39 million barrels of Nigerian crude between January and May 2025.

In May 2025 alone, Nigerian crude exports to the US stood at 4.2 million barrels, valued at $311 million, a fall from $368 million in April. Crude oil continues to form the backbone of the country's exports to the US, accounting for more than 62 per cent of American crude imports from Africa during the review period.

Although energy-related goods like crude were exempted from recent import tariffs introduced by the administration of President Donald Trump, the volume still declined from the 20.4 million barrels valued at $1.52 billion recorded during the same period in 2024. The 12.7 per cent year-on-year drop in volume and 11.8 per cent decline in value point

Nigeria's shipments dwarfed those of Libya, Angola and Ghana, whose combined crude exports to the US amounted to $811 million.

(Punch, July 20,2025)

(The Guardian, July 20, 2025)

Fleissen & Company

August 2025

Dangote Refinery targets 700,000bpd capacity after upgrade The Dangote Petroleum Refinery in Lagos is undergoing upgrade modifications to increase its nameplate capacity from 650,000 barrels per day (bpd) to 700,000bpd, Africa's richest man, Aliko Dangote, has confirmed.

Speaking during a tour of the facility in Lekki, Dangote explained that the upgrade, which is expected to conclude in the fourth quarter of 2025, has limited the refinery's current ability to operate at full capacity.

However, he expressed confidence that the enhancements would boost output beyond initial projections.

145 per cent capacity,” Dangote said.

The RFCCU, a critical component in converting heavy crude into lighter, more valuable products such as gasoline and diesel, is central to the refinery's operation.

Dangote disclosed that the refinery had purchased 19 million barrels of crude oil from the United States between June and July, with US imports now accounting for 55 per cent of its feedstock needs. “This month alone, we bought 10 million barrels from the US,” he said.

(The Guardian, July 20, 2025)

“Our RFCCU [Residue Fluid Catalytic Cracking Unit] is at 85 per cent.

We're not at 100 per cent because of ongoing modifications. Once completed, we expect to hit 700,000bpd. Some other units are even running at

Enugu State crashes Band A electricity tariff The Enugu State Electricity Regulatory Commission (EERC) has issued a new tariff order to MainPower Electricity Distribution Limited, reviewing electricity cost for Band A customers from N209 per kilowatt-hour to N160/kWh, effective August 1, 2025.

The new tariff was contained in the Enugu commission's Order No. EERC/2025/003 entitled, “Tariff Order for MainPower Electricity Distribution Limited 2025', and was issued by the commission.”

action on the Enugu State Electricity Law 2023, which empowers the commission to regulate the activities of operators in power generation, transmission, and distribution in and exclusively for the state.

Throwing more light on the development, EERC chairman, Chijioke Okonkwo, said the reduction in tariff became imperative, following the commission's review of MainPower's tariff and license applications as the new subsidiary company operating in Enugu State.

(Punch, July 21, 2025)

MainPower is the utility that succeeded Enugu Electricity Distribution Company after the state got the approval of the Nigerian Electricity Regulatory Commission to control its electricity market.

EERC had predicated its

NDPHC, offtakers sign pact to commercialize stranded power The Niger Delta Power Holding Company Plc (NDPHC) has entered into an agreement with new offtakers with the aim to free and commercialize about 200mw of its 2,000mw stranded electricity by the end of this year.

Page 20

Managing Director of the NDPHC, Jennifer Adighije, said this will be made possible with the signing of new Power Purchase Agreements (PPAs) with eligible off-takers and traders.

Adighije, who disclosed this

during a visit to the newly established Nigerian Independent System Operator (NISO) in Abuja, stated that the agreements, which are currently awaiting regulatory approval, were part of a broader strategy to unlock stranded capacity, improve liquidity, and ensure commercial sustainability of

the government-owned power generation company.

(Leadership, July 22, 2025)

Fleissen & Company

August 2025

NNPC's remittances to FG hit N6.9trn in six months The Nigerian National Petroleum Company (NNPC) Limited says it remitted a total of N6.96 trillion in statutory payments between January and June.

Statutory payments refer to mandatory financial obligations that organizations are legally required to pay to government authorities, serving as a key source of public revenue.

These payments, whether made by individuals, businesses, or government agencies, are used to fund national development and public services.

A look into previous reports show that the Company made a statutory payment of N1.37 trillion in the month of June alone. Payments made from January to April was N5.58 trillion and N4.22 trillion was paid from January to May. (BusinessDay, July 22, 2025)

Dangote Refinery exports one million tonnes of petrol in 50 days The Dangote Refinery has started exporting premium motor spirit (PMS) to other countries around the world.

Alhaji Aliko Dangote, who is the president of Dangote Group, disclosed this during the recently held Global Commodity Insights Conference on West African Refined Fuel Markets, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in partnership with S&P Global Insights. According to him, between June and July 2025, the refinery exported up to 1 million

Page 21

tonnes of petrol.

Dangote's comment is coming amid claims that the refinery could not meet local petrol demands. While Dangote exports PMS, other marketers still import the product into Nigeria. as His company has since started the export of aviation fuel to Europe and Saudi Arabia.

In the cement industry, he said the Dangote Group is targeting an export of $500 million worth of cement and clinker by the year 2027.

Nigeria partners S&P to develop petroleum price index Nigeria has partnered with S&P Global Commodity Insights to develop a regional pricing benchmark for refined petroleum products in West Africa, the country's downstream regulator said on Tuesday.

The initiative, recently launched during the West African Refined Fuel Conference in Nigeria's capital, Abuja, aims to create localized indices for products such as petrol, diesel, aviation fuel and liquefied petroleum gas.

Nigeria, an OPEC member and Africa's largest crude producer, is implementing reforms to liberalize its downstream sector as it positions itself as a regional trading hub. The country currently produces some 31% of the refined fuel traded in West Africa, with that share expected to grow as new refining projects come online.

(SweetCrude Reports, July 22, 2025)

West Africa currently depends on posted prices from global reference markets, said Farouk Ahmed, head of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). He added that the partnership will improve price transparency, support investment decisions and enhance energy security across the region.

(Punch, July 22, 2025)

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August 2025

US emerges top supplier of crude to Nigeria The United States became a net exporter of crude oil to Nigeria in February and March, as crude demand on the United States East Coast slowed due to refinery maintenance.

According to the US Energy Information Administration, the Dangote Refinery drove up Nigeria's demand for US crude. Reuters reports that this is the first time that the US has exported more crude oil to Nigeria than it imported, as Nigeria has been generally considered a source for US crude oil imports, ranking ninth last year. Crude exports from the US to Nigeria reached 111,000 bpd in February and 169,000 bpd in March.

began processing crude in January 2024 after years of delays. The refinery is set to reach an upgraded capacity of 700,000 barrels per day

by December.

It was said that Nigeria's crude export to the US stood at 133,000bpd in January, but this later dropped to 54,000bpd and 72,000bpd in February and March respectively.

(Punch, July 23, 2025)

The Dangote Refinery

With $2bn Nigeria Portfolio, IDB seeks FG's partnership to boost power infrastructure The Islamic Development Bank (IDB), which currently boasts nearly $2 billion active portfolios across various sectors in Nigeria, has expressed interest in partnering with the federal government to address critical infrastructure gaps in the power industry, leveraging what it called “ready funds to support the country's energy development as part of a new country

Page 22

engagement framework.”

A delegation from IDB, led by the financial institution's lead global energy specialist, Alagi Gaye, disclosed this during a recent visit to the minister of power, Adebayo Adelabu, in Abuja. Gaye revealed that IDB had an active portfolio of nearly $2 billion across various sectors in Nigeria, including energy, transport,

REA's $1.6bn mini-grid fund to accelerate clean energy access for rural communities The managing director of Rural Electrification Agency (REA), Abba Aliyu, has revealed that the agency has secured a funding pipeline of nearly $1.6 billion to drive renewable energy projects across Nigeria.

Aliyu made this declaration during the agency's stateby-state roundtable engagement with Ondo State governor, Lucky Ayedatiwa, in Abuja recently.

According to him, the funds, sourced through a blend of public-private partnerships, multilateral institutions, and climate finance windows, are expected to accelerate the deployment of solar minigrids, standalone systems, and other clean energy infrastructure, particularly in rural, underserved and off-grid communities.

In a related development, REA has recently signed multiple Memoranda of Understanding with key

agriculture, and education, but further stressed the bank's desire is to deepen its involvement in power infrastructure.

He acknowledged the country's significant electricity access gap and affirmed IDB's commitment

project partners, targeting over N500 billion in private-sector-led investments and significant infrastructure deployments across underserved communities that are far flung from the national electricity grid. REA's managing director has maintained that the MOUs signed by the agency are not ceremonial paperwork but practical roadmaps for delivering measurable results.

He also enumerated some of the MOU outcomes, including the deployment of four smart police stations in collaboration with the Police Trust Fund, the delivery of a renewable energy testing and simulation centre with Chinese tech giant, Huawei, and the mobilization of N100 billion private sector debt funding via First City Monument Bank for renewable energy service companies.

(Punch, July 22, 2025)

to incentivizing privatesector investment in the sector. In response, Adelabu emphasized the need for substantial investment to ensure stable, efficient, and affordable electricity for Nigerians.

(ThisDay, July 24, 2025) Fleissen & Company

August 2025

Nigeria to build $18.2bn super grid The Nigerian minister of power, Adebayo Adelabu, has announced the federal government's plan to build a super power grid for Nigeria, backed by a loan of $18.2 billion approved by the national assembly.

He made the disclosure during the commissioning of a 63MVA, 132/33kV mobile substation at the Eleyele Transmission Substation in Ibadan, Oyo State. The project, implemented under the Presidential Power Initiative (PPI) by the FGN Power Company in collaboration with Siemens Energy, aims

to modernize Nigeria's power infrastructure.

Adelabu stated that the super grid project goes beyond repairing the existing national grid, which has suffered from years of neglect and has become old, dilapidated and ineffective.

(The Sun, July 24, 2025)

NADDC unveils standards for gas-powered, electric vehicle maintenance The National Automotive Design and Development Council (NADDC) has unveiled the National Occupational Standards tailored for the conversion, calibration, and maintenance of gaspowered and electric vehicles.

The development, which was made known at a recent public presentation in Abuja, aims to professionalize technical skills and support Nigeria's transition to cleaner, alternative energy vehicles.

As of June 2025, the number of CNG powered

Page 23

NNPC invites new contractors to fast-track $2.8bn AKK project The Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has assured Nigerians of the speedy delivery of the $2.8 billion Ajaokuta–Kaduna–Kano (AKK) Natural Gas Pipeline project, adding that the project will unlock economic prosperity when it comes on board.

He also said that, to fulfill this commitment, the oil company had to invite new contractors to ensure its speedy completion. The GCEO said this while giving an assurance to potential investors and

stakeholders at NNPC's gas, power & new energy directorate for the 2025 AKK Business Development Forum recently.

The second segment of the AKK project is a 320kilometer pipeline, which the NNPC boss said its welding works have been completed. Ojulari described the gas pipeline as a strategic economic catalyst for Nigeria, which is poised to reshape the landscape through power generation and industrial growth.

(Punch, July 25, 2025)

vehicles in the country had risen from fewer than 4,000 to over 100,000, with an expected target of one million CNG vehicles to be on the road by the end of 2027.

The minister of state for industry, Senator John Owan Enoh, said the development was a testament to the current administration's commitment to promoting technical and vocational education and training in the country.

(Punch, July 25, 2025)

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August 2025

TotalEnergies reports $6.6bn revenue despite oil price dip TotalEnergies has reported resilient half-year results, generating $6.6 billion in cash flow, despite a 10 per cent drop in oil prices, highlighting its ability to deliver steady returns.

The company's hydrocarbon production averaged 2.53 million barrels of oil equivalent per day (Mboe/d) in the first half of 2025, marking more than a three per cent increase yearon-year. This growth, the French energy giant explained, was driven by new production from key projects, including the Ballymore field in the United States and Mero-4 in Brazil, both of which came on stream ahead of schedule. The company's electricity production also rose strongly, with nearly 23 terawatt-hours (TWh) generated in the first half of the year, an increase of over 20 per cent compared to the same period in 2024.

It also reported that adjusted net income for the quarter stood at $3.6 billion, bringing the company's first half adjusted net income to $7.8 billion. The chairman and chief executive officer of TotalEnergies, Patrick Pouyanné, described the results as proof of the company's balanced multienergy strategy and resilience.

(The Guardian, July 25, 2025)

Dangote takes delivery of 4,000 CNG trucks for nationwide fuel distribution The Dangote Group has taken delivery of 4,000 compressed natural gas (CNG) trucks as part of its nationwide fuel distribution strategy, a move aimed at supporting cleaner energy and enhancing logistics efficiency across Nigeria.

The announcement was made on the company's official X platform, accompanied by a video showing the arrival of the trucks, which are designated for free distribution of premium motor spirit (PMS) and diesel to bulk buyers across the country.

This initiative is part of a

broader commitment by the company to reduce logistics costs and ensure seamless access to refined products.

It comes just weeks ahead of the official rollout of Dangote Refinery's nationwide distribution of refined products, which is scheduled to begin on August 15, 2025. The distribution is expected to cover PMS, diesel, as well as Jet A1, and is projected to deliver substantial economic relief, with annual national savings estimated at ₦1.7 trillion.

(Tribune, July 26, 2025)

NGML boosts gas supply capacity with 44MMscf deal NNPC Gas Marketing Limited (NGML) has expanded its gas supply portfolio with the signing of a natural gas sale and purchase agreement (GSPA) with CCETC Suk Power Limited.

The agreement enables the

Page 24

delivery of up to 44 million standard cubic feet per day (MMscf/d) of natural gas, further strengthening NGML's role in Nigeria's energy distribution chain.

This new deal builds on the company's existing agreement with GasHub Nigeria Limited and

underscores its growing footprint in the country's midstream petroleum sector.

The gas supply is expected to significantly improve power generation capacity and support liquefied natural gas production, contributing to the nation's

industrial and energy security goals.

By increasing access to gas, NGML is also helping industries reduce dependency on diesel and other carbon-heavy fuels.

(SweetCrude Reports, July 27, 2025)

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August 2025

Discos raise remittance rate to 95.86% despite revenue challenges In a rare positive development, Nigeria's electricity distribution companies (Discos) raised their remittance rate to the Nigerian electricity market to 95.86% in Q1 2025, their highest collective performance in recent years.

According to the Q1 2025 report released by the Nigerian Electricity Regulatory Commission (NERC), Discos were invoiced N208.49 billion by the Market Operator for energy received, and they remitted N199.83 billion.

This performance reflects an increased commitment to sector stability despite ongoing commercial

challenges.

NERC attributed the improved remittance to tighter regulatory oversight, tariff adjustments under the service-based tariff regime, as well as the enforcement of the partial activation of contracts framework in the sector.

(Reports Sweet Crude, July 27, 2025)

The Nigerian Electricity Management Services Agency (NEMSA) and the Nigerian Independent System Operator (NISO) have unveiled a joint action plan to strengthen safety protocols, enforce technical standards, and improve metering accuracy in the power sector.

Both agencies have established a joint technical team of experts from each organization. The team will focus on metering infrastructure, regulatory compliance, electrical inspectorate services, integration of renewable energy, as well as financial and logistical coordination.

Discos raise remittance rate to 95.86% despite revenue challenges The Rural Electrification Agency (REA) has signed multiple Memoranda of Understanding with key partners, targeting over N500 billion in privatesector-led investments and significant infrastructure deployments across underserved communities.

REA's managing director, Abba Aliyu, said that MOUs signed by the agency are not ceremonial paperwork but practical roadmaps for delivering measurable results.

NEMSA, NISO partner on grid safety, metering accuracy recertification and standardization of gridconnected metering systems nationwide, an effort both agencies say is essential to improving transparency, energy accountability, and reliability in power delivery.

The move is expected to enhance real-time grid monitoring, reduce energy losses, and foster greater confidence among industry operators and consumers alike.

(Punch, July 28, 2025)

A key component of the plan is the immediate

the MOU outcomes, including the deployment of four smart police stations in collaboration with the Police Trust Fund, the delivery of a renewable energy testing and simulation centre with Chinese tech giant, Huawei, and the mobilization of N100 billion private sector debt funding via First City Monument Bank for renewable energy service companies, (Punch, July 29, 225)

He also enumerated some of

Page 25

Fleissen & Company

August 2025

FG, AfDB partner Saglev on EV manufacturing Saglev Electromobility Company Limited has emphasized its progress in green industrialization, local manufacturing, and innovation in Nigeria's automotive sector ahead of official visits from the Federal Government and the African Development Bank.

The electric vehicle manufacturer, in a statement, said its EV assembly and manufacturing facility located in Imota, Lagos, will host two high-level visits this week from the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, and the President of the African Development Bank, Dr. Akinwumi Adesina.

Saglev described the visits as validation of its growing role in Nigeria's clean energy future and Africa's wider e-mobility transformation.

tour the facility on July 30, while Adesina will visit on July 31, to assess the progress Saglev has made in advancing sustainable industrial development and climate-resilient transport infrastructure in the region.

Saglev, which describes itself as Nigeria's pioneer indigenous EV assembler and manufacturer, currently produces 16 electric vehicle models, ranging from ridehailing cars and status sedans to mid-sized delivery vans, BRT buses and utility trucks.

(Punch, July 29, 2025)

APM begins renewable energy transition plan APM Terminals (APMT) Apapa has announced a one-year roadmap towards its transition from reliance on diesel as a fuel source to gas and eventually to solar and battery-powered solutions.

According to the terminal manager at APMT, Steen Knudsen, “as a company, we acknowledge that transition is not an overnight journey, and so we have designed a roadmap on how we move from the current state to the future state where our operations are fully decarbonized.

“In the next six to 12 months, we will further decarbonize our operations through an onsite solar solution, which will further displace our consumption by up to 30 per cent and increase our self-generation capabilities.”

He further explained that the terminal has currently commissioned two new CNG generators of 4megawatt capacity, which is shifting APMT's reliance from diesel to gas as a fuel source for power generation. Knudsen also noted that the company's action resonates with the Nigerian government's commitment towards using gas for power generation.

Electricity Market Regulatory Bill 2025,' was passed after its third reading during plenary in Osogbo.

opportunities.

(Punch, July 29, 2025)

The minister is scheduled to

Osun State passes bill to establish electricity regulatory commission Osun State Governor Ademola Adeleke has described the passage into law of the state electricity bill as a major tool to deepen and boost the economy of the state.

Page 26

In a recent legislative action, the Osun State House of Assembly passed a bill to establish an electricity regulatory commission for the state.

The bill, tagged 'Osun State

(Premium Times, July 29, 2025)

Reacting to the passage of the executive bill, the governor, in a statement issued by his spokesperson, Olawale Rasheed, said the bill will open windows of opportunities for investors in the power sector, includinga lot of offgrid electricity generation

Fleissen & Company

August 2025

Lagos partners Siemens on waste-to-energy projects The Lagos state government is partnering with global technology firm Siemens Group to boost its waste-toenergy initiatives and improve power generation through sustainable waste management.

This was disclosed during a recent meeting held in Alausa between top officials of the Lagos State government and Siemens representatives.

The Lagos State commissioner for environment and water resources, Tokunbo Wahab, revealed that Lagos generates between 13,000 and 14,000 tonnes of municipal solid waste daily, noting that the state is actively exploring innovative ways to convert waste into usable energy.

He further explained that a portion of the waste is already committed to energy conversion projects His words: “We have committed about 4,000 tonnes of waste to wealth programmes, 1,500 tonnes to a Dutch company, while a substantial amount also goes to Lafarge to power their plants.” Despite this, he noted that a significant volume of waste remains underutilized.

(The Nation, July 29, 2025)

UNIBEN wins electric vehicle promotion contest The Federal Government said it is targeting the adoption of zero emissions in the transportation sector through the National Automotive Design and Development Council (NADDC) “8-Seater Electric Campus Shuttle Competition.”

The University of Benin (UNIBEN) emerged as the winner of the competition, which took place at the Innovation Hub of the University of Lagos, Akoka, featuring 12 universities

across the six geopolitical zones of the country.

Speaking at the event, the director-general of NADDC, Oluwemimo Osanipin, noted that the competition was geared towards promoting zeroemission transportation and supporting Nigeria's transition to a green-energy automobile industry.

The initiative aims to promote the design and eventual manufacturing of electric vehicles in Nigeria.

(Punch, July 30, 2025)

NNPC drills four oil wells in Bauchi A director at the Nigerian National Petroleum Company (NNPC) Limited, Yusuf Usman, has said the company has drilled four oil wells in the Kolmani area of Bauchi State.

Usman also highlighted some of the achievements of the company under the Tinubu-led administration that benefited the north and other parts of the country.

Page 27

According to him, “so far, NNPC has drilled four wells in the Kolmani area of Bauchi State and is currently evaluating the appropriate technology to be deployed for the next phase of drilling operations.” He added further that “in support of President Tinubu's Compressed Natural Gas (CNG) Initiative, five CNG and Liquefied Natural Gas

(LNG) plants are under construction in Kogi.”

These plants, he said, are expected to enhance gas supply and accessibility across the northern region of the country.

(Punch, July 30, 2025)

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August 2025

FG attracts over $791 CNG investments in two months Nigeria's drive to deepen the adoption of compressed natural gas (CNG) as an alternative transport fuel has taken a further step, with the federal government attracting over $791.49 million in investments between May and June 2025.

On a broader scale, the country has also ramped up its push for compressed natural gas adoption in the transport sector, mobilizing over $980 million in investments and deploying more than 100,000 CNG kits within 12 months as part of the Presidential CNG Initiative.

obtained from the Presidential Initiative on Compressed Natural Gas, which also revealed that over 1,440 vehicles have so far been converted across 20 states, with 807 CNGpowered buses and over 5,000 tricycles procured to deepen clean energy adoption and reduce transportation costs.

(Punch, July 31, 2025)

AfDB commits $1.2mn to support Nigeria's grid sustainability project The African Development Bank (AfDB) has said it committed $1.2 million in grants to support a feasibility study on Battery Energy Storage Systems (BESS) in Nigeria.

AfDB's director-general, Nigeria country department, Abdul Kamara, disclosed this while speaking at the recently held inaugural workshop for Nigeria BESS feasibility study, which was

organized in Abuja by the Transmission Company of Nigeria (TCN).

The project, he said, will assess grid integration, identify viable business and regulatory models to attract investment, and build the capacity needed for ownership and sustainability.

(Punch, July 31, 2025).

This is according to data

Oando unveils plans for 1.2gw solar plant Oando PLC has announced progress on the development of a 1.2gigawatt solar PV module assembly plant, according to its unaudited Q1 2025 results.

The company said land had been secured and financial modelling completed for the project.

Oando Clean Energy and the Rural Electrification Agency (REA) had earlier signed a Memorandum of Understanding for the groundbreaking of the 1.2

Page 28

gigawatt solar project.

President and CEO of Oando Clean Energy, Demola Ogunbanjo, emphasized the project's impact, saying, “this is Africa's first solar module assembly plant with a recycling line that will see old and dysfunctional solar panels recycled into raw materials for various purposes.”

Oando says its clean energy initiative is part of broader efforts, which also saw the company achieve 53,941

electric vehicle rides in Q1 and 42,779 kg of CO emissions averted through two operational e-buses under its electric mobility programme.

The managing director/chief executive officer of the REA, Abba Aliyu, said that “this collaboration is a game-changer, not just in expanding access to electricity but in positioning Nigeria as a renewable energy hub.”

(Punch, July 31, 2025) Fleissen & Company

August 2025

Nigerians to own shares in Dangote Refinery President of the Dangote Group, Alhaji Aliko Dangote, has said that Nigerians will soon become shareholders in his $20 billion refinery situated in Lekki, Lagos State.

Dangote stated this recently at the Global Commodity Insights Conference on West African Refined Fuel Markets, hosted in Abuja by the Nigerian Midstream and Downstream Petroleum

Regulatory Authority (NMDPRA) in partnership with S&P Global Insights.

According to the business mogul, the refinery would soon be listed to give Nigerians the opportunity to buy shares, adding that the refinery is ready to partner with governments, private investors and institutions.

(Punch, July 31, 2025)

Seplat revives 29 dormant oil wells Seplat Energy has announced the restoration of 29 idle oil wells as part of its offshore project activity in the first half of 2025, adding approximately 25,900 barrels per day of gross production capacity.

The company said it recorded an average production of 134,492 barrels of oil equivalent per day, up 178 per cent from 48,407 boepd in the same period of 2024, and above

Page 29

the midpoint of its 2025 guidance of 120,000 to 140,000 boepd. It also disclosed that offshore production contribution was strong in the first half of the year at 79,660 boepd, which was made up of 86 per cent crude and condensate, 5 per cent NGL and 9 per cent gas. Its “2Q 2025 production increased 11% QoQ.”

FG eyes N796bn annually from 5% petrol surcharge The federal government may rake in N796 billion annually from the introduction of a five per cent surcharge on locally produced and imported petrol, based on its new tax policy slated to take effect from January 1, 2026.

The five per cent surcharge on refined petroleum products is contained in Nigeria Tax Administration Act, one of four tax reform bills signed into law by President Bola Tinubu on June 26, 2025. However, consumers have opposed the move, stressing that the government had earlier removed fuel subsidies and now plots to impose a five per cent surcharge on fuel,

without considering the harsh economic realities nationwide.

The surcharge forms part of government efforts to shore up non-oil revenues and promote fiscal sustainability amid mounting public debt and subsidy-related costs.

The policy targets fossil fuel products provided or produced in Nigeria.

(Punch, July 31, 2025)

onshore production contribution of 54,831 boepd, which was 13 per cent higher than the first half of 2024. In the process, the company achieved more than 15.3 million man hours without lost time injury on its operated assets.

(Punch, July 31, 2025)

Seplat further reported

Fleissen & Company

August 2025

Nigeria to integrate solar, wind energy into national grid The Nigerian Electricity Supply Industry (NESI) is set to integrate renewables into the country's national power grid, beginning with a feasibility study into the Battery Energy Storage System (BESS), a technology which stores electricity in batteries for future use.

Speaking in Abuja at the inception workshop for BESS, the minister of power, Chief Adebayo Adelabu, said the event signaled Nigeria's resolve to adopt innovative, climatesmart, and forward looking energy solutions. The feasibility study, he said, was not just a technical exercise, but a strategic step toward “future-proofing” the country's power infrastructure.

Ayangeaor, noted that key challenges persist, particularly the issues of power intermittency, limited deployment of renewables, grid instability, and underutilized energy generation.

With the increasing penetration of solar and wind energy in the energy mix, Adelabu stated that Nigeria must now address the critical challenge of energy storage, such as storing electricity when generation exceeds demand and dispatching it when needed to maintain balance and reliability.

(ThisDay, July 31,2025)

Nigeria's power plants show signs of recovery Nigeria's electricity generation plants showed signs of recovery in the first quarter of 2025, averaging 4,336.39 megawatts, the highest quarterly generation recorded in over a year.

This is according to the Q1 2025 report of the Nigerian Electricity Regulatory Commission (NERC), which revealed a total generation of 9,343.15GWh, a 6.58% increase from Q4 2024.

This marks a modest but notable improvement amid longstanding generation bottlenecks.

“The rebound in generation is commendable,” NERC stated, further confirming that out of the 26 gridconnected power plants, 17 were fully operational

during the quarter.

June 2024.

Delta State recorded the highest average price at N9,243.38, while Oyo had the lowest at N7,100.00.

“Regionally, the SouthSouth zone had the highest average price at N8,871.63, and the South-West the lowest at N7,960.42,” the report revealed. Similarly, the average price of 12.5 kg of cooking gas increased by 1.46 per cent to N21,010.56 in June, compared to N20,709.11 in May, representing a 33.52 per cent year-on-year rise from

N15,736.27 in June 2024.

Delta, Cross River, and Rivers recorded the highest prices, while Yobe, Niger, and Jigawa had the lowest.

(SweetCrude Reports, July 31, 2025)

Adelabu, who was represented by a top official of the ministry, Engr. Bem

Price of 5kg cooking gas increases to N8,324 The National Bureau of Statistics (NBS) has reported an increase in the average prices of cooking gas and kerosene across Nigeria for the month of June 2025.

This was revealed in the NBS “Cooking Gas Price

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Watch” report for the month, which said that the average price of 5kg of cooking gas rose by 1.92 per cent to N8,323.95, up from N8,167.43 in May. On a year-on-year basis, this marks a 19.49 per cent increase from N6,966.03 in

(NAN, July 31, 2025)

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