AUGUST 2026
THIS MONTH AT A GLANCE
1.56m bpd
37 blocks
US$4.5bn
US$100+
Crude output reached a 74-month high
Awarded in the 2025 licensing round
Energy commitments signed at NOG Energy Week Brent brie y crossed the threshold
Filtering the noise to deliver important energy sectorupdates
UPSTREAM | GAS | DOWNSTREAM | POWER | CLEAN ENERGY | POLICY
EXECUTIVE BRIEFING MARKET SIGNALS STRATEGIC IMPLICATIONS
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THETEAM Project
01 UPSTREAMEXPLORATIONANDPRODUCTION Licensing round outcomes, fiscal incentives and a return to drilling
SUBSECTORINSIGHT Crudeoilproductionreached1.56millionbarrelsperdayinJune2026,a74-monthhighat104percentoftheOPECquota,asthe2025licensing round closed with 37 oil and gas blocks awarded to 31 companies after an eight-month process, with winners required to pay signature bonuses and meet post-award conditions within 90 days or forfeit to reserve bidders, while 13 marketed blocks, including three of four in the Chad Basin and six in the Niger Delta, attracted no bids and return to the licensing basket. President Bola Tinubu approved a 2026 round, the third consecutive competitive exercise, and the NUPRC presented 19 prospecting licences to 12 firms from earlier rounds. Fiscal incentives moved deepwaterinvestment:aUS$11.50perbarrelproduction-linkedtaxcreditforShell'sUS$20billionBongaSouthwestAparoproject,asreported by Bloomberg, and a US$1 billion ExxonMobil-led commitment to the Usan Infill Project expected to add 40,000 barrels per day Renaissance recorded its first discovery on OML 74, Seplat agreed to sell a 10 per cent joint venture interest to NNPC for about US$281.6 million, and SNEPColaunchedaUS$3billioncontractfinancefacilitywithnineNigerianbanks.
CrudeOutputHits74-Month HighasNigeriaMeets104% ofOPECQuota Crudeoilproductionroseto 1.56millionbarrelsperday inJune2026,thehighest levelrecordedsinceApril 2020and104percentof thecountry's1.5million barrelsperdayOPEC quota,theNUPRC disclosedinastatement signedbyHead,Mediaand CorporateCommunications, EniolaAkinkuotu. Condensateproduction reached180,000barrelsper day,bringingcombined
crudeandcondensate outputto1,735,398barrels dailyinthefourth consecutivemonthof productiongrowth,which thecommissionattributed tostableoperationsacross mostproducingassetsand theabsenceofmajor pipelinedisruptionsduring theperiod.
(Vanguard, July 13, 2026 / Channels Television, July 13, 2026)
NUPRCAwards37OilBlocks to31Companiesas2025 LicensingRoundCloses Thirty-onecompanieswere declaredwinnersof37oil andgasblocksunderthe 2025LicensingRoundat thecommercialbid conferenceinAbuja,ending aneight-monthprocess. Winningfirmsmustpay signaturebonusesand satisfyotherpost-award conditionswithin90daysor riskforfeitingtheassetsto reservebidders.
CommissionChief ExecutiveOritsemeyiwa
13OilBlocksFailtoAttractBidsas FrontierExplorationAmbitionsStall Thirteenoftheoil blocksmarketedbythe NUPRCunderthe 2025LicensingRound receivednobids:three ofthefourmarketed blocksintheChad Basin,twoeachinthe BenueandBenin basins,andsixinthe
NigerDelta,including AyamaPPL2A52, FoniwetoiroPPL2A37, OloriPPL2A36,Misty PPL2A35,KenamPPL 2A34andIkuruPPL 2A31,alongsidePPL 309,PPL307,PPL 802,PPL803,PPL 701,PPL702andPPL
703acrosstheinland basins. Theoutcomecomes fouryearsafterNNPC announcedaone billionbarreloil discoveryatKolmani with500billion standardcubicfeetof gasandaproposed
Eyesandisclosedthat officialsinvolvedin evaluatingthebidsfaced repeatedintimidationthat persisteduntiltheeveof thecommercialbid opening,butrefusedto compromisetheintegrityof theexercise,statingthatthe processremainedcredible andtransparentthroughout.
(Punch, July 22, 2026)
US$3billion investmentthathasyet tomaterialise.The FederalGovernment confirmedthe13 blockswillbereturned tothelicensingbasket.
(The Guardian, July 22, 2026)
TinubuApprovesNewOil LicensingRoundfor2026 PresidentBolaTinubuhas approvedthe commencementofthe2026 oilandgaslicensinground, pavingthewayforthe country'sthirdconsecutive competitivebidroundand offeringfreshopportunities toinvestorswhodonot emergesuccessfulinthe 2025exercise.
Theapprovalwas confirmedseparatelyby NUPRCCommissionChief ExecutiveOritsemeyiwa EyesanandMinisterof
StateforPetroleum Resources(Oil)Heineken Lokpobiriatthe2025 CommercialBid ConferenceinAbuja,where theregulatoropened commercialbidssubmitted byqualifiedcompanies. Eyesanurgedunsuccessful biddersnottobe discouraged,stressingthat theupstreamsectorextends farbeyondtheassets currentlyonoffer
(Punch, July 21, 2026)
ChevronConfirms Winning BidforDeepwater BlockPPL2010 StarDeepWaterPetroleum, aChevroncompanyand operatoroftheAgbami field,emergedtopbidder forPetroleumProspecting Licence2010asthe NUPRCopened commercialbidsforthe 2025licensinground, Chevronconfirmed.
JimSwartz,chairmanof Chevroncompaniesin NigeriaandMid-Africa,
NUPRCHands19OilProspecting Licencesto12FirmsfromEarlierRounds NineteenPetroleum ProspectingLicences wereformallypresented to12successfulbidders fromthe2024licensing roundandthe2022/2023 MiniBidRoundduring NOGEnergyWeek2026 inAbuja,markingthe commencementof explorationactivities acrossdeepoffshore, shallowwaterand continentalshelf acreages.
Beneficiariesinclude BoronEnergyLimited (PPL2009),Energy
MarketingandSupply Limited(PPL269), SaharaDeepwater ResourcesLimited(PPLs 270and271)andTulkan EnergyE&PCompany Limited(PPL2008). Executionofthe concessioncontracts
saidthecompanyremains committedtoworking collaborativelywiththe Nigeriangovernmentand itspartnerstosupportthe developmentoftheoiland gasindustryandcontribute tobroadereconomic growth.
(Upstream, July 23, 2026)
establishesthelegal, fiscalandcommercial frameworkgoverningthe licenceholdersunderthe PetroleumIndustryAct 2021.
(Vanguard, July 8, 2026)
FGGrantsShellUS$11.50PerBarrelTaxCredittoUnlock US$20bnBongaSouthwestAparoInvestment PresidentBolaTinubu approvedfiscalterms grantingShellandits partnersaproduction-linked taxrebateofUS$11.50for everybarrelproducedfrom theBongaSouthwestAparo
deepwaterproject,more thandoublethestandard incentiveavailableunder Nigeria'sfiscalframework, accordingtoaBloomberg reportcitingpeoplefamiliar withthematter
Theincentiveisexpectedto helpmovethelong-delayed US$20billionproject towardsaFinalInvestment Decision,andthesame production-linkedcredit wouldreportedlybe
extendedtoother internationaloilcompanies developingnewdeepwater projectsinNigeriauntilat least2029.
(Punch, July 15, 2026)
ExxonMobilandPartnersCommit US$1bntoUsanInfillProjectin FirstDrillingReturnSince2016 ExxonMobilaffiliateEsso ExplorationandProduction Nigeriaanditspartners Chevron,TotalEnergiesand CNOOCsubsidiaryNexen willinvestUS$1billionin theUsanInfillProjecton OML138,adevelopment expectedtoadd40,000 barrelsperdayofoil production,theNUPRC stated.Thecommitment marksEsso'sreturnto drillingactivityinNigeria, withitslastdrilling operationdatingbackto
2016.
ExxonMobilNigeria ManagingDirectorJagir Baxiconfirmedthe commitmentataconference inAbuja,whileNUPRC ChiefExecutive OritsemeyiwaEyesansaid theprojectisexpectedto deliverfirstproduction within18monthsafter seismicdataidentifiedthe opportunity.
(Reuters, July 8, 2026)
SeplattoSell10%JV StaketoNNPC SeplatEnergyPlcagreed tosella10percent participatinginterestin assetsheldunderitsjoint venturewithNNPCLtd foraheadlinevalueof aboutUS$281.6million, inafilingwiththe NigerianExchange updatingatransaction firstannouncedin September2025.
SeplatEnergyOffshore LimitedandSeplat EnergyProducing NigeriaUnlimited signedalegallybinding headsofagreementwith NNPC,withthe commercialterms representingabout25
forUS$281.6m
percentofthegross considerationpaid, togetherwithany contingentconsideration payable,fortheSEPNU acquisition.Following completion,SEPNU retainsa30percent interestandcontinuesas operator The announcement accompaniedhalf-year resultsshowingprofit aftertaxup498percent toUS$164millionon revenueofUS$1.82 billion.
(The Sun, July 31, 2026 / EnviroNews, July 31, 2026)
RenaissanceHitsOilin OML74ExplorationWell RenaissanceEnergy recordeditsfirstmajoroil discoverysincetakingover OML74,withpreliminary resultsshowingabout1,000 feetofcrudeoil-bearing reservoirsacrossseven zonesanddataandfluid testsconfirminglightoilin high-qualityreservoirs. OML74isalargeshallowwaterblockintheeastern NigerDeltaholdingatleast eightpreviously undevelopeddiscoveries. Renaissance,whichowns
Shell'sformeronshoreand shallow-waterassets, operatesNigeria'slargest upstreamjointventurewith 18oilleases,twoexport terminalsandanFPSO vessel.
ManagingDirectorTony Attahsaidthediscovery reflectsarenewedfocuson explorationandlong-term productiongrowth.
(Business Post, July 8, 2026)
SNEPCo,NineBanksLaunch US$3bnContractFinanceFacility forNigerianOilServiceFirms ShellNigeria Explorationand ProductionCompany launchedaUS$3 billionContract FinanceFacilityin partnershipwithnine Nigerianbanksto providecreditsupport forlocalcontractors executingprojectsfor SNEPCooperations, availableinbothnaira andUSdollars.
Theparticipating banksareFirstBank, GuarantyTrustBank, ZenithBank,Access Bank,UnitedBankfor
Africa,StanbicIBTC, StandardChartered Bank,FirstCity MonumentBankand FidelityBank.
SNEPCoManaging DirectorRonald Adamssaidatthe MoUsigningin Lagosthatthe initiativereflectsthe spiritoftheNigerian OilandGasIndustry ContentDevelopment Actandin-country valueretention.
(ThisDay, July 2, 2026)
ADESWinsUS$100mSeplatJack-UpContract AmongUS$228mDualAwards ADESInternational Holdingsecuredtwo offshoredrilling contractsintheUK NorthSeaandNigeria totalling approximatelySAR 858.3million (US$228.56million).
InNigeria,Seplat EnergyProducing NigeriaUnlimited awardedacontractfor theShelfDrilling Odysseyjack-uprig valuedatSAR375.3 million(about US$100.1million),
includingmobilisation, demobilisationandthe localpartner'sshare. TheNigerian agreementcoversa two-yearfirmperiod withtwounpricedoneyearextensions,and drillingisexpectedto
startinthefirstquarter of2027,following regionalcontractwins earlierin2026suchas theShelfDrilling VictoryinNigeria.
(Egypt Oil & Gas, July 16, 2026)
7,942OilServicePermits,49LicencesGrantedinQ12026 Nigeriaissued7,942oiland gasindustryservicepermits and49upstreammonitoring andregulationlicences betweenJanuaryandMarch 2026,accordingtothe NUPRC'sUpstreamService IndustryNewsletterforthe firstquarter
Permitvolumesdeclined
HeirsEnergiesDeploys Real-TimeDigitalMonitoring atOML17
TheHeirsEnergiesOML17 JointVenture,in collaborationwithRedtech, thetechnologycompany withintheHeirsHoldings Group,unveiledits IntegratedOperations MonitoringCentre,adigital operationshubbringing operationalintelligence, productionmonitoring, securitysurveillance, hydrocarbonevacuation, facilityperformanceand criticalassetdataintoa singleintegrated environment.
ChiefExecutiveOfficerOsa Igiehonsaidthecentre wouldprovidereal-time visibilityofoperations, enablefasterdecisionmakingandimprove efficiencyacrossOML17.
(Punch, July 2, 2026)
22.3percentcompared withthefourthquarterof 2025,amoderationthe commissionattributedto normalregulatorycycles ratherthanaslowdownin industryactivity
(Punch, July 2, 2026)
AsharamiEnergyTargets 350,000BpdProduction by2030 AsharamiEnergyLimited, SaharaGroup'supstream explorationandproduction business,announceda productiontargetof 350,000barrelsofoilper dayby2030,alongsidethe achievementofsixmillion LostTimeInjury-freemanhoursinitsOML148 operationsthrough subsidiaryEnageed ResourcesLimited.
ChiefTechnicalOfficer LesteAihevbasaid operationalexcellence beginswithprotecting people,stakeholdersand communities,andthatthe safetyculturewillremain fundamentalasthe companyadvancestowards theproductiontarget.
(The Sun, July 20, 2026)
02 REFININGANDDOWNSTREAM Pricing shifts, capital raising and refinery strategy
SUBSECTORINSIGHT The Dangote refinery's pricing decisions dominated the downstream month. Naira-denominated gantry sales were suspended from July 13 in favour of a dollar template pricing petrol at US$0.779 per litre, the refinery halted coastal and gantry loading on July 15, resumed marine loading at US$1,161.23 per metric tonne, an 11.2 per cent increase, and restored naira sales on July 23 at a gantry price of N1,215 per litre, before unveiling a free petrol delivery programme in six states at that price for buyers of at least 250,000 litres. Capital raising moved at pace: about US$2.5 billion closed in a private placement of up to 6 per cent of the company at a valuation of approximately US$40 billion, attracting aboutUS$4billionindemand,andaformalSECfilingadvancedaSeptemberlistingexpectedtobeAfrica'slargest.NNPCendedcrude-backed loan financing for the Port Harcourt and Warri refineries in favour of a performance-driven model, with 35 Chinese engineers assessing Warri aheadofarehabilitationinvestmentdecision,whiletheNMDPRAcalledforanAfricanfuelpricingbenchmarktoreducedependenceonforeign indices.
DangoteRefinerySuspends NairaPetrolSales,Movesto DollarPricing Naira-denominatedgantry salesofPremiumMotor Spiritweresuspended effectiveJuly13,reversing thenaira-purchasepolicy thatbeganonOctober1, 2024,withtherefinery movingtoadollartemplate pricingpetrolatUS$0.779 perlitre,dieselatUS$1.087 andaviationfuelat US$0.942,andcoastalPMS deliveriesatUS$1,044.62 permetrictonne.Noofficial explanationaccompanied thechange.
Depotownersraisedexdepotpetrolpricesfrom aboutN1,075perlitreto betweenN1,085and N1,090followingthe announcement,whileretail pricesheldatN1,155to N1,205inAbujaatthetime ofthereport.IPMAN spokespersonChinedu Ukadikewarnedtheshift wouldputimmense pressureonthenairaand urgedfederalintervention.
(Daily Post, July 14, 2026)
DangoteRefineryResumes CoastalPMSLoadingatUS$1, 161.23/MT,Up11.2% CoastalloadingofPremium MotorSpiritresumedafter aneight-dayhaltatanew marinepriceof US$1,161.23permetric tonne,upfrom US$1,044.62,anincreaseof US$116.61or11.2percent, markingtherefinery'sfirst pricingadjustmentsince movingtoadollardenominatedtemplatefor refinedproductsearlierin themonth.
Therefineryhadhaltedboth coastalandgantryloading
DangoteRefineryResumesNairaPetrolSales Petrolloadinginnaira resumedonJuly23ata gantrypriceofN1,215 perlitre,endingthe nine-daysuspensionof naira-denominated sales,withthenewrate
representingan increaseofaboutN140 ontheroughlyN1,075 naira-equivalentprice thatprevailedbefore theswitchtodollar pricing.
onWednesday,July15, shortlyafterintroducingthe dollar-basedpricing structure.
Customersloadingthrough thecoastalchannelwere notifiedoftheresumption, withloadingoperations commencingfromJuly21, whiletruckloadingthrough thegantryhadyettorestart atthetimeofthereport.
(BusinessDay, July 22, 2026)
atN1,215/Litre
Theresumption restoredthenairapurchasearrangement tomarketersandbulk buyersaheadofthe refinery'sfreedelivery programmerollout,
followingdepotand pumppriceincreases recordedduringthe suspension.
(Daily Post, July 23, 2026 / Vanguard, July
DangoteRefineryRollsOut FreePetrolDeliveryinSixStates atN1,215/Litre Thefirstphaseofthe refinery'sfreepetrol deliveryprogramme extendsdirectsupplyto marketersinLagos,Ogun, Rivers,Kaduna,theFederal CapitalTerritoryandDelta, undertheVision2030 AcceleratingAfrica's Industrialisationagenda, withplanstoexpandto additionalstatesin subsequentphases. PremiumMotorSpiritwill continuetobesuppliedat
theexistinggantrypriceof N1,215perlitre,with qualifyingbuyersalso benefitingfromfree deliveryanda10-daycredit facility.Participationis currentlylimitedtobuyers purchasingaminimumof 250,000litres,targeting large-volumemarketersand bulkdistributors.
(Petroleum Price, July 29, 2026)
DangoteRefineryRampsUp FuelExportsasCrudeShortages, ForexSqueezeBite Exportsofrefined petroleumproducts increasedsignificantlyas inadequatedomesticcrude oilsupplyandpersistent foreignexchange constraintscontinuedto hamperoperationsatthe 650,000barrelsperday refinery Crudeoilsupplyunderthe FederalGovernment's naira-for-crudearrangement
DangoteRefinerySecuresRecordUS$2.5bn EquityFundingAheadofPlannedListing DangotePetroleum Refineryand PetrochemicalsFZE securedaboutUS$2.5 billioninfreshcapital throughaprivateequity placementdescribedby thecompanyasAfrica's largestpubliclydisclosed primaryequityprivate
placement,itsfirstequity fundingroundinvolving externalinvestorsbeyond thelegacyshareholder base.
Theplacementcovereda stakeofupto6percent ofthecompanyata valuationof approximatelyUS$40
billionanddrewabout US$4billionindemand, accordingtoaBloomberg report.Participants includedtheAfrica FinanceCorporationand IndiaInfraBuildco,an investmentvehicle facilitatedbytheAfrican Export-ImportBank,with
declinedsharply, compellingtherefineryto sourcealargershareofits feedstockfromthe internationalmarket,while risingglobalcrudeprices wereexpectedtoincrease feedstockcostsevenas strongerproductprices supportedrefiningmargins.
(Vanguard, July 22, 2026)
proceedstosupport continuedexpansionof therefineryand petrochemicalcomplex andstrengthenthecapital structure.
(Punch, July 18, 2026 / Punch, July 24, 2026)
Africa'sBiggestIPODrawsCloserasDangoteRefineryFileswithSEC DangotePetroleum
Refineryformally approachedtheSecurities andExchangeCommission tobegintheprocessforan initialpublicoffering,akey steptowardwhatis expectedtobecomeAfrica's
largeststockmarketlisting.
SECDirector-General EmomotimiAgamasaidthe refinery'sadvisersare workingwithcompany officialsandthe commissiontoprocessthe applicationandthatthe
regulatordoesnotanticipate delaysthatcouldderailthe plannedsharesale.Nodate hasbeenformallyapproved, thoughthecompany continuestotargeta Septemberlistingfollowing monthsofpreparatory
engagementwiththe regulator
(BusinessDay, July 29, 2026)
NNPCEndsCrude-BackedLoansto FundPortHarcourt,WarriRefineries Thepracticeoffinancing thePortHarcourtandWarri refinerieswithloansbacked bycrudeoilproductionis endinginfavourofa performance-drivenfunding modelaimedatmakingthe facilitiescommercially sustainable,NNPCLtd GroupChiefExecutive OfficerBayoOjulari disclosedattheNigeriaOil andGasConferencein Abuja.
Bothrefineriesmust
becomefinanciallyselfsustainingunderthenew commercialmodel,which requirestheplantstoraise financingfortheir operationsratherthanrely onloans,aspartofalongtermstrategytoensurethey operateascommercially viablebusinessescapableof attractingfinancingontheir own.
(Punch, July 9, 2026)
FGPledgesSupportfor DangoteRefinery,Lauds ContributionstoNigeria TheFederal Government describedthe DangotePetroleum Refineryand Petrochemicalsasa sourceofnational prideandoneof Nigeria'smost transformative industrial investments,during avisittotheLekki facilitybyMinister ofStatefor Petroleum Resources(Gas) EkperikpeEkpo, MinisterofStatefor Petroleum Resources(Oil) HeinekenLokpobiri
andtheNUPRC leadership. Ekposaidthe governmentwill continuetoprovide thepolicyand regulatorysupport neededtomaximise thecompany's contributionto energysecurity, industrialisationand economicgrowth, describingthe refineryas compellingevidence ofwhatNigerian enterprisecan achieve.
(ThisDay, July 15, 2026)
ChineseEngineersBeginWarri RefineryAssessmentasNNPC EyesRevival Ateamof35engineers fromSanjiangChemicals andNewFutureGroup commenceda comprehensivetechnical assessmentoftheWarri Refiningand PetrochemicalsCompany, thefirststepinNNPCLtd's latestefforttorestorethe state-ownedrefineryto sustainablecommercial operations.
Findingsfromthe
inspectionwillguideafinal investmentdecisiononthe proposedrehabilitationand long-termoperationofthe facility,underanew businessstrategythat placesstrongeremphasis onpetrochemical productionalongside conventionalrefining.
(Petroleum Price, July 3, 2026)
NMDPRASeeks AfricanFuelPrice BenchmarktoReduce DependenceonForeign Indices Africashouldestablishits ownfuelpricingreference mechanismtosupport expandingrefiningcapacity, improvepricediscovery andstrengthenregional petroleumtrade,NMDPRA ChiefExecutiveRabiu UmarsaidinAbujaahead ofthesecondWestAfrica RefinedFuelConference. UmarnotedthatAfrica remainsoneofthefew majorenergy-producing regionswithouta recognisedregionalpricing benchmarkdespitegrowing investmentsinrefiningand downstreaminfrastructure,
whileregionalpricing systemsalreadyoperate acrossEurope,the Mediterranean,theGulf regionandNorthAmerica basedonlocalsupply, demand,logisticsand transportationcosts.
(Petroleum Price, July 30, 2026)
03 NATURALGASDEVELOPMENT Feed gas security, LNG expansion and domestic infrastructure
SUBSECTORINSIGHT Gas moved from policy language to executed contracts. The NNPC and Seplat joint venture signed a 15-year Wet Gas Sale and Purchase Agreement committing 200 MMscf/d to UTM FLNG, the commercial anchor positioning Nigeria's first indigenous floating LNG project for a finalinvestmentdecision,whiletheANOHvaluechainconnectedendtoendthroughaNetworkEntryAgreementallowinginjectionofupto250 MMscf/d into the national gas transportation network and a 16-year firm Gas Sale Agreement supplying Indorama Fertilizer with up to 60 MMscf/d.NLNGreportedmorethan6,000cargoesexportedandaboutUS$150billioninrevenuesinceinception,withTrain7settoliftcapacity from 22 to 30 million tonnes per annum and add roughly 250,000 tonnes of LPG yearly for the domestic market. ECOWAS heads of state signed theIntergovernmentalAgreementfortheAfricanAtlanticGasPipelineinFreetown,theMDGIFdisclosedinvestmentsin113gasinfrastructure projects, and Dangote marketers cut LPG prices to N985 per kilogramme, undercutting depot prices. NIPCO shareholders approved a N1.501 billiondividendasthecompanytargetsgassectorexpansion.
UTMFLNGSecures 15-YearGasSupplyDeal AlandmarkWetGasSale andPurchaseAgreement signedduringNOGEnergy WeekinAbujacommitsthe NNPC/SeplatEnergy ProducingNigeria UnlimitedJointVentureto supply200millionstandard cubicfeetofgasperdayto theUTMFLNGproject over15years,unlocking financingforNigeria'sfirst indigenousfloatingLNG project. Theagreementwas describedasoneofthe project'smostimportant
commercialmilestones becauseitguaranteesfeed gassupply,acritical requirementforlendersand investorsbeforecommitting billionsofdollarstothe facility.NNPCLtdGroup ChiefExecutiveOfficer BayoOjularicalledita breakthroughinNigeria's drivetocommercialiseits vastgasresourcesand deependomesticgas utilisation.
(Punch, July 7, 2026)
AGPCSignsNetworkEntry Agreementfor250MMscf/d InjectionintoNationalGas Network TheANOHGasProcessing CompanysignedaNetwork EntryAgreementwiththe NigerianGasInfrastructure Company,pavingtheway fortheinjectionofupto 250millionstandardcubic feetofprocessedgasper dayintoNigeria'sNational GasTransportation Network. Theagreement,signedon thesidelinesofNOG EnergyWeek2026in
Abuja,establishesthelegal andcommercialframework requiredtotransport processedgasfromthe ANOHGasProcessing PlantthroughtheNGIC manifoldatAssainOhajiEgbemaLocalGovernment AreaofImoState.
(BusinessDay, July 8, 2026)
RenaissanceSigns16-YearGasSupplyDealwithIndorama RenaissanceAfrica EnergyCompany executedaGasSale Agreementwith IndoramaFertilizerFZE, asubsidiaryofIndorama ElemePetrochemicals, forthesupplyofupto 60millionstandard
cubicfeetofnaturalgas perdayonafirmbasis over16yearsfromthe AssaNorthOhajiSouth GasProcessingFacility. Theagreementwas signedbyRenaissance ManagingDirectorTony AttahandIndorama
FertilizerManaging DirectorManish Mundra,withboth describingthedealasa milestoneinadvancing domesticgasutilisation, industrialdevelopment andagriculturalgrowth. Thesecuresupplyis
expectedtosupport uninterruptedfertiliser productionand strengthenfoodsecurity acrossNigeriaand Africa.
(Daily Champion, July 15, 2026)
NLNGExports 6,000LNG Cargoes,EarnsOverUS$150bn RevenueSinceInception NigeriaLNGLimitedhas generatedrevenueinexcess ofUS$149.6billion, reportedbysomeoutletsas morethanUS$150billion, andexportedover6,000 liquefiednaturalgascargoes sincecommencing operations,payingover US$47.2billionin dividendstoshareholders, remittingmorethanUS$10 billionintaxesandbuilding anassetbasevaluedat aboutUS$23billion. ManagingDirectorand ChiefExecutiveOfficer AdeleyeFaladeunveiled
thefiguresathismaiden mediaengagementsince assumingofficeonApril1, 2026,inaLagosbriefing thatalsocoveredthe completionofTrain7and earlydiscussionsaroundthe developmentofTrains8,9 and10.
FaladenotedthatNLNG purchasesgasfrom upstreamproducers, processesandliquefiesit, andmarketsittobuyers worldwide.
(Punch, July 29, 2026 / ThisDay, July 29, 2026)
ECOWASMemberStates SignHistoricIntergovernmental AgreementforAfricanAtlantic GasPipeline HeadsofStateof ECOWASMember Statessignedthe Intergovernmental Agreementforthe AfricanAtlanticGas PipelineProjectatthe ECOWASSummitin Freetown,SierraLeone, amajorboosttowards theproject's actualisation.
TheAAGPisa transformativeregional infrastructureproject designedtounlockWest Africa'svastnaturalgas
resources,connectthem tomajordemand centres,integrate Africanenergymarkets, andestablishastrategic developmentcorridor linkingWestAfrica,the Sahel,Moroccoand Europe.Theprojecthas beenwidelyreportedat avalueofaboutUS$25 billion.
(NNPC, July 20, 2026 / BusinessDay, July 22, 2026)
NLNG'sTrain7Expansion PutsNigeria'sGasAmbitions onTrack TheTrain7projectwilllift NLNG'soutputby35per cent,from22milliontonnes ayearto30milliontonnes oncecomplete,while addingroughly250,000 tonnesannuallyofliquefied petroleumgas,anearly50 percentincrease,toa domesticmarketthathas struggledwithcookinggas shortagesandpricespikes. Thecompanytoldreporters inLagosthatTrain7 remainsthecentrepieceofa strategytoshoreup
domesticenergysupply, boostexportsandcement Nigeria'spositioninan increasinglycrowded globalLNGmarket,even asfeedgasshortagesanda waveofnewglobalsupply threatentocomplicatethe push.NLNGhaspositioned itselfasaproofpointfor theDecadeofGas initiative.
(BusinessDay, July 29, 2026)
GovernmentBacks113Gas InfrastructureProjectstoBoost Industrialisation TheMidstreamand DownstreamGas InfrastructureFund hasinvestedin113gas infrastructureprojects acrossthecountry, comprisingeightgas processingfacilities, 15CNG/LCNG motherstations,86 CNG/LCNGdaughter stationsandfourLPG depots,allatvarious stagesofcompletion, ExecutiveDirector OluwoleAdama disclosedatNOG EnergyWeekin
Abuja. Adamasaidsomeof theprojectswouldbe commissionedbefore theendof2026,with othersexpectedon streaminthefirst quarterof2027, arguingthatNigeria's vastgasreserves providean opportunitytogrow theeconomywhile improvingliving standards.
(Punch, July 10, 2026)
NNPC RollsOutRoadmapfor Nigeria'sEmergenceasa RegionalGasHub Secureandglobally competitivegashubsreston threerequirements: integratedinfrastructure coveringpipeline, processinganddistribution networks;policyand regulatoryalignmentto attractinvestment;anddata andassurancetotrackGas MasterPlanimplementation andensureprojectsare bankable,NNPCGas MasterPlanImplementation AssuranceTeamFocal
EkpeiUkamsaidata strategicpanelsessionat NOGEnergyWeek. UkamsaidtheNNPCGas MasterPlanprovidesa commerciallydriven, execution-anchored roadmaptopositionNigeria asacompetitivegashub servingdomesticindustry, theregionandinternational markets.
(NNPC, July 9, 2026)
DangoteMarketersLower LPGPricetoN985/kg,Undercut DepotMarket Marketersliftingfromthe Dangoterefineryreduced thesellingpriceof LiquefiedPetroleumGasto N985perkilogramme,N45 belowtheaveragedepot priceofN1,030per kilogrammequotedby majormarketersandN65 lowerthanthehighest marketpriceofN1,050, intensifyingprice competitionacrossthe domesticLPGmarket.
Amarketsurveyshowed NIPCO,11Plc,ArdovaPlc andTechnoOilsellingLPG atN1,030perkilogramme atthedepots,withNavgas andRainoilpricedat N1,050.
(Petroleum Price, July 6, 2026)
NIPCODeclaresN1.5bnDividend,TargetsGasSectorExpansion ShareholdersofNIPCO Plcapprovedadividend payoutofN1.501billion, representingN8.00per ordinaryshare,forthe 2025financialyearatthe company'sAnnual
GeneralMeetingin Abuja.
ChairmanBestman Anekwesaidthe dividend,subjectto applicablewithholding tax,reflectstheboard's
confidenceinthe company'sfinancial positionanditsabilityto deliverreturnsto investors,expressing confidencethat shareholderreturnswould
GS THESTATEOFGASSAFETYINNIGERIA besustainedasthe companypursuesits growthplans.
(Punch, July 13, 2026)
04 POWERSECTORREFORM Revenue governance, legacy debt settlement and metering
SUBSECTOR
INSIGHT Regulatory control of distribution company revenue met resistance after Order NERC/2026/062, effective July 1, required DisCos without market debts to remit 70 per cent of earned non-administrative operating expenditure into dedicated CapEx Provision Accounts, with indebted DisCos facing a stricter 25/25/35/15 split and funds spendable only on approved Performance Improvement Plan projects; the DisCos rejected the order as regulatory overreach. Liquidity support continued through a N729 billion bond for verified GenCo legacy debts, completing with January'sN501billionissuancetheN1.23trillionSeries1and2oftheN4trillionPresidentialPowerSectorDebtReductionProgramme,while Minister of Power Joseph Tegbe ruled out any immediate tariff increase. President Tinubu directed the launch within 30 days of a programme training 5,000 young Nigerians as meter installers, TCN handed over a temporary National Control Centre to the system operator, NDPHC issued the notice to proceed on restoring the 225MW Gbarain plant, and Edo State secured a 10 per cent stake in a proposed 100MW plant and licenseda7MWmini-gridunderitsstateelectricitylaw
DisCosKickAgainstNERC's CapExAccountOrder Electricitydistribution companiesrejectedOrder No.NERC/2026/062,which tookeffectonJuly1, allegingregulatory overreachandarguingthe directivetransferscontrolof privatelyearnedrevenue fromcompanyboardstothe regulator. TheorderrequiresDisCos withoutmarketdebtsto remit70percentofearned non-administrative operatingexpenditureinto dedicatedCapital ExpenditureProvision
Accounts,retaining30per centforoperations.DisCos withoutstandingmarket debtsmustpay25percent ofresidualrevenueto NBET,25percenttothe MarketOperatorand35per centintotheCapEx account,leaving15percent foroperations,withfunds intheaccountspendable onlyonNERC-approved PerformanceImprovement Planprojects.
(The Nation, July 14, 2026)
FGIssuesFreshN729bnBondto SettleGenCoLegacyDebts Asecondbondvaluedat N729billionwasissuedin Julyforthesettlementof verifiedlegacydebtsowed toelectricitygeneration companies,completingthe firstphaseoftheN4trillion PresidentialPowerSector DebtReductionProgramme followingtheissuanceof approximatelyN501billion inJanuary2026. Togetherthetwoissuances constitutetheN1.23trillion Series1and2component
NoElectricityTariffHikeforNow,SaysFG TheFederalGovernment ruledoutanyimmediate increaseinelectricity tariffs,withMinisterof PowerJosephTegbe statingatamedia roundtableinLagosthat theadministrationhasno policytoraisetariffs
beyondexistinglevels andthatpriorityrestson improvingpowersupply, achievinguniversal meteringandensuring consumerspayonlyfor theelectricitythey consume. Tegbesaidthe
governmentwould continuetoexamine additionalmechanisms toprotectvulnerable consumerswhile improvingthefinancial sustainabilityofthe NigerianElectricity SupplyIndustry,aspart
TinubuOrdersLaunchof5,000 YouthMeteringJobsProgrammeWithin30Days PresidentBolaTinubu directedthePresidential MeteringInitiative,in collaborationwiththe FederalMinistryof YouthDevelopment,the NationalPowerTraining InstituteofNigeriaand
otherstakeholders,to commencewithin30 daysanationwide programmetraining 5,000youngNigerians asmeterinstallersand technicians. Theinitiative,knownas
ThePowerForce,is designedtocreatejobs, closethemeteringgap andstrengthenthe electricitymarket,andis opentoeligible Nigerianswhohave completedsecondary
oftheCapitalMarket Multi-InstrumentIssuance Programme.NBETChief ExecutiveOfficerJohnson Akinnawodescribedthe issuanceasamilestonein effortstorestoreliquidity, reinforceinvestor confidenceandpromotethe long-termstabilityofthe powersector.
(The Sun, July 19, 2026)
ofabroaderstrategyto resetthepowersector, strengthenthenational gridandrestoreinvestor confidence.
(Punch, July 31, 2026)
schooleducation,witha dedicatedquotareserved forNationalYouth ServiceCorpsmembers.
(The Nation, July 2, 2026)
TCNHandsOverTemporary ControlCentretoNISO AtemporaryNational ControlCentreatthe Gwagwalada330kV TransmissionSubstation washandedovertothe NigerianIndependent SystemOperatoronJune 30,housingtheSupervisory ControlandData Acquisition/Energy ManagementSystemand telecommunications equipmentrequiredforrealtimemonitoringand operationofthenational grid.
Thefacilitywillserveas
NISO'soperationalbase untilcompletionofthe permanentNationalControl CentreinGwagwalada.
TCNManagingDirector SuleAbdulaziz,represented byGeneralManager, ProjectCoordination,Amini Tahir,describedthe completionasthebeginning ofanewphaseinnational gridmanagement,ina statementbyGeneral Manager,PublicAffairs, NdidiMbah.
(Punch, July 2, 2026)
EdoGovernmentSecures 10%Stakein100MW PowerPlant TheEdoState Governmentsecured a10percentequity stakeinaproposed 100megawattpower plant,Governor MondayOkpebholo disclosedwhile receivingFirstBank ManagingDirector OlusegunAlebiosu andCCETC ManagingDirector DiXiaohuiat GovernmentHouse inBeninCity Okpebholosaidthe decisiontonegotiate anequitystakewas
informedbythe administration's resolvetoensurethe statederiveslongtermeconomic benefitsfromthe projectbeyond providinglandforits development, describingthe arrangementasa milestoneinthedrive towardsenergy security
(The Guardian, July 6, 2026)
NDPHCBeginsRestoration of225MWGbarainPlant TheNigerDeltaPower HoldingCompanyissued theNoticetoProceedand formallyhandedoverthe 225MWGbarainNational IntegratedPowerProjectin BayelsaStatetoOriginal EquipmentManufacturer SchneiderElectric/TILT Energyforrehabilitation works,withdelivery expectedwithin12months. Theplanthasbeenoutof servicesinceNovember 2020,whenafireseverely damageditsPowerControl
Modulebeforethefacility couldbecommissioned.
ManagingDirectorJennifer Adighije,wholedthe handoveralongside ExecutiveDirector, Generation,Abdullahi Kassim,saidNDPHC wouldmaintainzero tolerancefordelaysor projectslippages.
(Daily Trust, July 13, 2026)
EdoLicenses7MWSolar Mini-GridasIZENERGY EyesReliablePower A7megawattminigridelectricitylicence wasgrantedto indigenousrenewable energyfirm IZENERGYLimited, presentedby Commissionerfor PowerPaulUsenboin BeninCityafterthe companymetthe financialandtechnical requirementsstipulated undertheEdoState ElectricityLaw2025 (asamended).
Thegovernment conductedfeasibility studiesacrossthethree
senatorialdistrictsand all18local governmentareas beforeapprovingthe licence,withthe projectexpectedto servecommunitiesin EdoSouth,Edo CentralandEdoNorth aspartofastrategy combiningnational gridsupply, independentgeneration andrenewable solutions.
(The Sun, July 20, 2026)
05 RENEWABLEENERGYANDCLEANTRANSITION Mini-grid scale-up, solar manufacturing and storage
SUBSECTORINSIGHT The Rural Electrification Agency reported nearly US$2 billion in renewable energy investment attracted over two years and broke ground on a 1.5MWinterconnectedmini-gridinPankshin,PlateauState,partofa48-sitenationalrolloutfollowinggroundbreakingsinKogi(20MW),Kebbi (3.5MW), Adamawa (27MW) and Rivers (12MW), while welcoming a new governing board that includes former Ekiti governor Ayo Fayose. Manufacturing and corporate deployment advanced: a final investment decision on a US$145 million solar manufacturing plant in Abia State, Elektron Renewables' expansion of the Jabi Lake Mall rooftop system to about 1.5 MWp, West Africa's largest mall installation, and the North East Development Commission's approval of about N100 billion for a 50MW modular solar programme across the six North-East states. Industry attention shifted to battery storage as falling equipment costs made solar competitive with conventional generation, All On opened its 2026 Off-Grid Energy Challenge offering up to US$1 million, and the NCC and REA agreed to migrate telecom base stations near mini-grids ontorenewablesupply
REAExpandsMini-Grids, Welcomes Fayose-LedGoverningBoard Groundbreakingtookplace fora1.5MWInterconnected Mini-Gridprojectin Pankshin,PlateauState, partofanationalrollout involving48interconnected mini-grids,followingthe commissioningofthe50kW AccesstoMarketsand AgricultureSolarMini-Grid inNamuCommunityand groundbreakingeventsin Kogi(20MW),Kebbi (3.5MW),Adamawa (27MW)andRivers (12MW).
Theagencyalsowelcomed theappointmentofformer EkitiStateGovernorAyo Fayose,alongsideAhmadu AbubakarandIlyasu Makinta,asdirectorsofits governingboard.Managing DirectorAbbaAliyusaid thePankshinfacilityis designedtoimprovepower quality,reducetechnical lossesandsupportagroprocessing,healthcareand commercialenterprises.
(Punch, July 22, 2026)
NigeriaAttractsNearlyUS$2bn RenewableEnergyFundingin TwoYears TheRuralElectrification AgencysaidNigeriahas attractednearlyUS$2 billioninrenewableenergy investmentsoverthepast twoyears,whilewarning thattheenergytransition willfallshortofits economicpotentialunless investmentstranslateinto localmanufacturing,skilled jobsandindustrial development. ExecutiveDirector, CorporateServices, GboyegaAyoade,delivering
OttiHailsProposedUS$145m SolarManufacturingPlantinAbia AUS$145million solarmanufacturing plantistobelocatedat UmueleleinIsiala NgwaSouthLocal GovernmentArea, developedbyMD NwakanmaNigeria
Limitedinpartnership withChinesetechnical partners,withthe investorshaving reachedfinal investmentdecisionon theproject.
GovernorAlexOtti,
receivingtheinvestors ledbyteamleadOko JajaatGovernment HouseinUmuahia, describedthe investmentasamajor boostto industrialisation,job
akeynoteonbehalfof ManagingDirectorAbba AliyuataLagos conferenceoncarbon captureand decarbonisation,cited flagshipprogrammes includingtheNigeria ElectrificationProject,the DARESProgramme,the EnergisingEducation Programmeandthe NationalPublicSector SolarisationInitiative.
(The Nation, July 27, 2026)
creationandeconomic growth,addingthatthe statehadmadethe requiredland available.
(Punch, July 17, 2026)
ElektronRenewablesExpands JabiLakeMallSolartoWestAfrica's LargestRooftopInstallation Therooftopsolar photovoltaicsystematJabi LakeMallinAbujawas expandedfrom600kWpto approximately1.5MWp withtheadditionof902.4 kWpofcapacity,makingit thelargestrooftopsolar installationonashopping mallinWestAfrica. Theupgradedsystemis expectedtosupplyabout70 percentofthemall's electricityneeds,generating anestimated110,000
kilowatt-hoursmonthly, roughly1,320megawatthoursannually.Headof ElektronRenewables
SiannyAyodelesaid distributedrenewable energyisincreasinglya strategicbusinessdecision forcommercialand industrialenterprises seekingcostcertaintyand reliability.
(The Guardian, July 9, 2026)
NEDCOkaysN100bnSolar PowerProjectforNorth-East TheNorthEast DevelopmentCommission approvedplanstoinvest aboutN100billionina50 megawattsolarpower projectdeployingmodular solar-poweredelectricity systemstoschools, hospitals,marketsandother criticalpublicinfrastructure acrossthesixNorth-East states.
ManagingDirector MohammedAlkali, outliningthecommission's
RenewableEnergyIndustryShifts FocustoStorageasSolarCostsFall Fallingequipmentcosts, batterystorageand smarterenergy infrastructuredominated discussionsatSolarand StorageLiveNigeria 2026,withindustry leadersstatingthatthe
renewableenergymarket isenteringanewstage ofdevelopment.
REANPresidentAyo Adedimuluasaidthe perceptionthat renewableenergy remainsprohibitively
expensivenolonger reflectsmarketrealities, withfallingtechnology costsmakingsolar increasinglycompetitive withconventional sources,andcitedhydro, wind,biomassand
AllOnOpens2026Off-GridEnergy ChallengewithUptoUS$1minFunding The2026AllOnOffGridEnergyChallenge invitesNigerianclean energycompaniesto competeforfundingof uptoUS$1millionto scaleinnovative solutionsexpanding
energyaccess,with applicationsopenfrom July2toJuly31,2026. Thecompetitiontargets scalableand commerciallyviableoffgridsolutionsin renewableenergy,
productive-use technologies,energy efficiency,coldchain systems,mini-grids, solarhomesystemsand othercleanenergy applications,addressing thepersistentelectricity
transitionfromrecoveryto expansionunderits regionalmasterplan, describedpowerasthe region'smostcritical requirementforeconomic recoveryandsaidtheboard hadapprovedimmediate commencementofthe projectunderitsthirdphase ofdevelopment.
(Punch, July 30, 2026)
geothermalresourcesas largelyuntapped opportunitiesbeyond solar.
(ThisDay, July 15, 2026)
accessgapwhile promotingeconomic growthinunderserved communities.
(PM News, July 14, 2026)
AllOnPledgesMoreInvestment asItMarksaDecadeofImpact AllOncommittedtofurther investmentsandinnovation incleanandsustainable energy,especiallyinrural communities,duringthe DecadeofImpactwithAll Onat10Hackathon,aimed atinspiringthenext generationofcleanenergy innovators.
ChiefExecutiveOfficer CarolineEboumbousaid
thecompanyhasspentten yearsinvestinginpeople, businessesandpartnerships expandingaccesstoclean energyacrossNigeria,and thatthenextdecadeof impactwillbeshapednot onlybyinvestmentsmade butalsobytheinnovators inspired.
(ThisDay, July 21, 2026)
AirtelCutsDiesel Useby9.1Million LitresAmidGreen Transition AirtelAfrica reduceddiesel consumptionby9.1 millionlitresduring its2025/2026 financialyear, achievedpartly throughthe conversionof390 infrastructuresites toon-gridpower, improvingenergy efficiencyand loweringemissions acrossitsnetwork.
AtNigeriandiesel retailprices averagingbetween N1,409andN1,450 perlitrein
December2025, thereduction translatestoan estimatedvalueof aboutN12.8billion toN13.2billion.
ChiefExecutive
OfficerSunilTaldar disclosedthe figuresduringa mediaroundtablein Lusaka,Zambia.
(Punch, July 8, 2026)
NCC,REASignMoUto PowerTelecomBaseStations fromMini-Grids TheNigerian Communications Commissionsigneda Memorandumof Understandingwiththe RuralElectrification Agencytomigratetelecom basestationslocatedwithin 1to2kilometresofexisting mini-gridsontorenewable energysuppliedthrough thosegrids,with investmentscoordinated throughajoint implementationcommittee.
NCCExecutive CommissionerforTechnical
ServicesAbraham Oshadamisaidtheinitiative aimstoreducedependence ondieselgeneratorsandcut operatingexpenditure, improveaccesstoreliable electricityandtelecom servicesinunderserved communities,andensure futuremini-gridprojects supportnearbytelecom infrastructure.
(Developing Telecoms, July 28, 2026)
REAPushesIntegrated RuralEnergy-Agriculture System forFood Security Plansforanintegrated energy-agriculture ecosystemwereunveiledat theProductiveUse EquipmentAlignment Workshop,withREA ManagingDirectorAbba AbubakarAliyustatingthat isolatedintervention projectsarenolonger sufficienttoguarantee sustainablefoodsecurity andeconomicgrowth. Theapproachseeksa coordinatedsystembringing togethergovernment institutions,financiers, developmentpartnersand
theprivatesector,marking ashiftfromstandalone projectstoanenduring institutionalframework connectingfragmented ruralproductiontomarkets, financeandreliableenergy
(Daily Champion, July 16, 2026)
FoundationLaunchesSolarProject,SkillsTraininginOgun TheOgunbanjofamily, supportedbytheChris OgunbanjoFoundation, completedthefirstphase oftheBamofinAbimbola OgunbanjoImoleProject inErunwon,Ijebu-Ode, installingsolar-powered
streetlightsacrosskey roadsandpublicspacesto improvesafety,mobility andeveningeconomic activity
Theprojectincorporateda communityskills developmentprogramme
06 CLEANMOBILITY Import levies, green taxation and cleaner transport
SUBSECTORINSIGHT deliveredwith Infrastructure ManagementExpress Limited,trainingselected communitymembersin solarlightingsystems, installationsupport, preventivemaintenance,
faultidentificationand safeworkingpractices, withparticipants encouragedtobecome custodiansofthe infrastructure.
(Punch, July 13, 2026)
Fiscal policy sent mixed signals to the vehicle market. The reduction in vehicle import levies under the 2026 Fiscal Policy Measures took effect, cutting the levy on new vehicles from 20 per cent to 10 per cent and on used vehicles from 15 per cent to 5 per cent, but the simultaneous introductionofaGreenTaxSurchargeoncertaincategoriesofimportedvehicles,withoutpublisheddetails,leftdealersunabletoassesswhether the policy will translate into lower vehicle prices. At sub-national level, UNIDO designated Ogun State a core state for Nigeria's circular economy transition, citing interventions that include the distribution of biomass smokeless stoves to more than 3,000 residents and early deploymentofelectricmotorcyclesandcompressednaturalgasbusesascleaneralternativestofossilfueltransport.
FGReducesVehicleImportLeviesasDealersAwait Thereductioninvehicle importleviesunderthe 2026FiscalPolicy Measurestookeffect, cuttingtheimportlevyon newvehiclesfrom20per centto10percentandon usedvehiclesfrom15per centto5percent,aimedat
easingimportcosts, stimulatingeconomic activityandprovidingrelief tobusinessesand consumers.
AGreenTaxSurchargeon certaincategoriesof importedvehicleswas introducedalongsidethe
GreenTaxDetails reductiontopromote environmental sustainability,butthe absenceofcleardetails makesitdifficultto determinewhetherthe policywillultimatelylower vehicleprices.National AssociationofMotor
UNIDONamesOgunforFlagshipGreenEconomyProject TheUnitedNations IndustrialDevelopment Organisationdesignated OgunStateasoneof Nigeria'scorestatestodrive thetransitiontoacircular economyunderProject 220145Component2, designedtoadvance
Nigeria'sgreenandjust transitiontonet-zero emissions.
Commissionerfor EnvironmentOlaOresanya, announcingtherecognition ataUNIDOworkshopin AbeokutaundertheUsed Off-GridRenewableEnergy
EquipmentWaste ManagementProject,cited interventionsincludingthe distributionofbiomass smokelessstovestomore than3,000residentsin partnershipwiththeFederal Government,andnotedthat Ogunwasamongthefirst
DealersPresidentPrince Ajibolasaidthebenefits woulddependlargelyonthe sizeoftheGreenTax.
(Vanguard, July 2, 2026)
statestodeployelectric motorcyclesand compressednaturalgas busesascleaneralternatives tofossilfuel-powered transportation.
(Punch, July 27, 2026)
07 TRADEANDINTERNATIONALMARKETS Crude prices, freight costs and cross-border capital
SUBSECTORINSIGHT Renewed United States and Iran hostilities around the Strait of Hormuz took Brent back above US$100 per barrel for the first time since May, before a pause in strikes and reported progress in talks with Oman on management of the strait eased prices late in the month. Freight compounded import economics: clean product rates from Northwest Europe to West Africa rose about 25 per cent in weeks, from US$29.70 to US$37.12 per metric tonne, though Nigeria was partly insulated because the Dangote refinery held coastal prices below import parity The 25th NOG Energy Week recorded more than US$4.5 billion in signed agreements, with gas and LNG taking 39 per cent, upstream 31 per cent and midstream 16 per cent. Nigerian capital and enterprise extended abroad: Afreximbank approved US$200 million for Shoreline's share of a US$980millionAlgerianfielddevelopment,KenyamovedimplementationoftheproposedUS$17billionDangoteEastAfricanrefineryatLamu forward,andTanzanianbusinessmanMohammedDewjisignalledUS$100millioninvestmentinterest.
OilPricesDipas US-IranPause FuelsFreshHormuzHopes Oilpricestumbledasa pauseintit-for-tatstrikes betweentheUnitedStates andIranboostedhopesfora returntotheirceasefireand negotiationsonreopening theStraitofHormuz,after 13daysofattacksonsites intheIslamicrepublic. Tehransaiditwouldstop retaliatoryattackson regionalneighbours, handingGulfshippingand theoilindustryarespite. Hostilitieshadresumed
duringthemonth,breaking afragiletruce,afterIran attackedshipspassing throughOmaniwaters,with theconflictexpandingto HouthistrikesonSaudi vesselsintheBabalMandebStrait.Brentbroke backaboveUS$100abarrel forthefirsttimesinceMay beforeIran'sreported progressintalkswithOman providedrelief.
(Punch, July 27, 2026)
NigeriaAttractsFreshUS$4.5bn EnergyInvestmentCommitment atNOGEnergyWeek The25thanniversary editionofNOGEnergy Weekrecordedmorethan US$4.5billioninsigned deals,withgasandLNG accountingforthelargest shareatabout39percent, followedbyupstream projectsat31percent, midstreamat16percent, engineeringandtechnology at10percentand downstreamat4percent. Agreementsincludedthe 15-yearGasSaleand PurchaseAgreement betweentheNNPCand
FuelImportersUnderPressure asShippingCostsJump25% Freightratesforclean petroleumproducts shippedfromNorthwest EuropetoWestAfrica climbedfromUS$29.70 permetrictonneatthe endofJunetoUS$37.12 permetrictonne,an increaseofabout25per
centinafewweeksas vesselsrepositionedto servealternative markets,accordingto S&PGlobalCommodity Insights. Thesurgecomesamid risinginternational gasolinepricesand tighterglobalfuel supplies,creating additionalpressureon importerssupplying NigeriaandotherWest Africanmarkets.Nigeria hasbeenlargely insulatedbecausethe Dangoterefinery
Seplatjointventureand UTMFLNG,theUS$1 billionUsanInfill commitment,andNNPC's memorandumof understandingandgassale andaggregationagreement withAjaokutaSteel Companyalongsidea networkentryagreement withChevronNigeria, AGPCandNNPC Explorationand Production.
(The Guardian, July 28, 2026)
continuestokeep domesticpricesbelow importparity,with marketparticipants sayingimportersfindit increasinglydifficultto compete.
(The Sun, July 16, 2026)
RutoAppointsKindikito LeadDangoteEastAfrica RefineryProject KenyanPresidentWilliam RutodirectedDeputy PresidentKithureKindikito chairagovernment committeecoordinating withprivateinvestorsand employerson implementationofthe Ksh2.2trillionEastAfrican oilrefinerytobe constructedinLamu,stating thatimplementation structuresareinplaceanda
groundbreakingdatehas beenset,thoughnot disclosed.
Rutohadearlierannounced thatconstructionwould begininlate2026,with preparationsforthe project'slaunchatan advancedstage.
(Kenyans.co.ke, July 8, 2026)
Dangote'sEastAfrica RefineryAttractsUS$100m InvestmentInterest Tanzania'srichest businessman,Mohammed Dewji,expressedreadiness toinvestUS$100millionin theproposedUS$17billion DangoterefineryinEast Africa,accordingtoa Bloombergreport,saying hewouldprefertherefinery locatedinTanzaniabut remainswillingto participateevenifit proceedsinKenya. Dangotehassaidthe
Afreximbank'sUS$200m BackingPowersShoreline's AlgerianFieldDevelopmentRole AUS$200million financingpackage approvedbytheAfrican Export-ImportBankwill enableShorelinePower Company,throughits majority-ownedItalian
engineeringsubsidiary ArkadS.p.A.,toexecute itsshareoftheUS$980 millionHassiBirRekaiz FieldDevelopmentPhase 2aprojectinAlgeria. Thedealmarksa
milestoneforNigerian engineeringcompanies expandingbeyond domesticbordersand alignswith Afreximbank'sstrategyof promotingintra-African
Afreximbank'sDigitalTrade PlatformUnlocksUS$5.3mCross-BorderFuelDeal Afreximbank'sAfricaTrade Gatewayfacilitateda US$5.3millioncrossbordergasoiltransactionin whichZimbabweanfuel importerWitevaTrading sourcedashipmentfroma
Swisscommoditytrader, withInnbucksMicrobank aslocalissuingfinancial institutionandAfreximbank providingconfirmation supportunderanagreed tradefinancestructure.
Thebanksaidthedeal demonstrateshowAfrican businessescanuseasingle connecteddigitalecosystem toidentifycommercial opportunities,access financingandexecutecross-
Kenyancoastaltownof Lamuwasselectedfor commercialandtechnical reasons.Theproposed refinery,intendedto replicatetheLagos complex,continuesto attractstrongregionaland internationalinvestor interestaheadof construction.
(Punch, July 11, 2026)
trade,industrialisation andAfrican-owned infrastructurechampions.
(BusinessDay, July 21, 2026)
bordertransactionsmore efficiently
(BusinessDay, July 23, 2026)
StakeholdersApplaudUS$1bnSeaportReconstructionProgramme TheNationalCoalition forTransformative Reformscommendedthe FederalGovernmentand NigerianPortsAuthority ManagingDirector AbubakarDantsohoover
theUS$1billionseaport reconstructionprogramme coveringtherehabilitation oftheApapa,TinCan Island,Calabar,Warriand PortHarcourt/Onne seaportswithin48 months.
ExecutiveDirector RichardOchejesaidthe programmewillenhance cargohandlingcapacity, reducecongestionand improvethe competitivenessof Nigerianportswithinthe WestandCentralAfrican maritimecorridor.
(The Guardian, July 9, 2026)
08 POLICY,REGULATIONANDGOVERNANCE Decarbonisation, environmental accountability and capacity building
SUBSECTORINSIGHT
Nigeria was admitted as the International Energy Agency's 14th association country, the first OPEC member to take that step and the fastest accession on record, in a month when institutional machinery for decarbonisation took shape: the Joint Decarbonisation Working Group was inauguratedwitharecommitmenttoendingroutinegasflaringby2030,andGermanycommissionedaprogrammetohelpconverttheestimated US$1.5 billion Nigeria loses annually to flaring into domestic consumption, industrial use and hydrogen production. Environmental accountability pressure intensified with theAmnesty International-led Lifting the Lid report, drawing on confidential Shell documents disclosed inUKlitigation,whileoilproducersandregulatorsjointlyopposedaproposed3percentofannualbudgetlevyfortheSouth-SouthDevelopment Commission.CapacitybuildingadvancedthroughtheNCDMB'sNigerianContentTrainers'RegistrationCertificategoinglive,a12-monthfield readiness programme for 300 graduates with Renaissance, and NUC and JAMB approval of enforced admission quotas for engineering programmes.
NigeriaJoinsInternational EnergyAgencyasAssociation Country TheInternational EnergyAgency admittedNigeriaasits newestassociation country,the14th overall,thefirstOPEC membertopartner withtheorganisation andthefastest accessionprocessfor anyIEAapplicant. Nigeriabecomesthe IEA'ssixthAfrican associationmember alongsideEgypt, Kenya,Morocco,
SouthAfricaand Senegal.Theagency, foundedasan organisationofOECD countriesin1974, launchedits associationprogramme in2015andhas32full membercountries expectedtohold90 days'worthofoil reservesandcontribute tostockreleases.
(S&P Global, July 2, 2026)
FGInauguratesDecarbonisation WorkingGroup,Recommitsto EndingGasFlaringby2030 TheJointDecarbonisation WorkingGroupfortheoil andgassectorwas inauguratedinAbuja, reaffirmingthecommitment toendroutinegasflaringby 2030whilepositioning naturalgasasthecountry's transitionfuelforindustrial growthandlowercarbon emissions.
MinisterofStatefor PetroleumResources(Gas) EkperikpeEkposaidthe groupprovidesa coordinatedplatformfor governmentinstitutions, regulators,industry
operatorsanddevelopment partners,describingthe inaugurationasfarmore thanthelaunchofanother committeeandnotingthat decarbonisationhas evolvedintoaneconomic necessityasinvestors increasinglyweighcarbon performanceininvestment decisions.
(ThisDay, July 15, 2026)
GermanyMovestoCurbNigeria's US$1.5bn YearlyGasFlaringLoss AmnestyInternational,Partners DemandShell'sAccountabilityfor NigerDeltaPollution Anewprogramme commissionedbythe GermanForeignOfficewill helpNigeriatacklethe estimatedUS$1.5billionit losesannuallytogasflaring byexploringwaystoutilise flaredgasfordomestic consumption,industrialuse andhydrogenproduction. GermanAmbassadorto NigeriaAnnettGuenther, announcingtheinitiativeat
theNigeriaOilandGas ConferenceinAbuja,said Nigeriaremainsoneofthe world'sbiggestgas-flaring countriesandthatthe projectformspartofthe long-standingenergy partnershipbetweenthetwo countriesundertheEnergy TransitionPlan.
(Punch, July 24, 2026)
OilFirmsRejectProposed3% South-SouthDevelopmentLevy Oilindustryoperators andpetroleumregulators opposedaproposalto compeloilandgas producingcompaniesto contribute3percentof theirannualbudgetsto theSouth-South Development Commission,warning thelevymaydiscourage
investmentand underminethe competitivenessofthe petroleumindustry
Theconcernswere raisedataresumed publichearingofthe Houseof Representatives CommitteeontheSouthSouthDevelopment
Acoalitionofeighthuman rightsandenvironmental organisations,including AmnestyInternational, releasedNigeria:Liftingthe Lid,areportanalysing confidentialShellemails, technicalaudits, presentationsandinternal reviewsdisclosedduring ongoinglegalproceedings intheUK.
Thepartnerssaidthe documentsexposedfailures tomaintainwellsand
pipelinesthatledtooil pollutionintheNiger Delta,constitutinghuman rightsviolationsthrough damagedwater,farmland, fisheries,healthand livelihoods,andcited failuresincludingbasket pipelines,missingwells and375squarekilometres ofmangroveforestharmed bypollution.
(Premium Times, July 29, 2026)
Commissiononabillto amendtheSouth-South Development Commission (Establishment)Act 2025.Committee ChairmanJuliusPondi saidtheamendmentis
designedtobroadenthe commission'sfunding baseforsustainable developmentacrossthe region.
(Punch, July 30, 2026)
NigerianContentTrainers'RegistrationCertificateGoesLive TheNCDMBlaunched theNigerianContent Trainers'Registration
CertificateonJuly27on theNigerianOilandGas IndustryContentJoint QualificationSystem portal,adigital
verificationand certificationplatformto assess,inspect,verify andratetrainingservice providersoperating withintheoilandgas industry
Theinitiativegives
effecttotheRegulation forTraininginthe NigerianOilandGas Industryissuedin February2021,which mandatestheBoardto prescribeminimum standards,facilitiesand
technologyforthe trainingand developmentof personnelinthe industry
(NCDMB, July 23, 2026)
NCDMB,Renaissance Train300Graduatesin OilandGas Aspecialised12-month capacitydevelopment programmelaunchedbythe NCDMBinpartnership withRenaissanceAfrica Energywillprepare300 youngNigeriangraduates forcareersintheoilandgas industry,combiningthree monthsofintensive classroominstructionwith ninemonthsofstructured on-the-jobtrainingat partnerservicecompanies. TheFieldReadiness TrainingProgramme enrolled240traineesin
Lagosand60inPort Harcourt,covering mechanical,electricaland instrumentation engineering.NCDMB
ExecutiveSecretaryFelix OmatsolaOgbesaid specialisedcompetenciesin automation,instrumentation andengineeringoperations havebecomeincreasingly criticalasNigeriaprepares foranewwaveof investments.
(The Sun, July 20, 2026)
WIENAcademyPositions WomenforOpportunitiesin EnergySector TheWomenin EnergyNetwork markedsixmonthsof strengthenedlearning andleadership developmentthrough theWIENAcademy, whichdelivers structured,industryresponsive programmescovering technical competence, commercialacumen, leadershipcapability andprofessional resilience.
Theorganisationsaid theAcademy's
transformationcomes atacriticalperiodas Nigeriaadvancesnew licensingrounds,gas commercialisation, energytransition initiativesand increasedinvestment, whilewomenremain underrepresentedin technical,commercial andexecutive leadershippositions, creatinganurgent needfordeliberate capacitybuilding.
(EnviroNews, July 29, 2026)
EngineeringProgrammes toAdmitStudentsby ApprovedQuotas TheNationalUniversities CommissionandtheJoint Admissionsand MatriculationBoard approvedtheenforcement ofadmissionquotasfor engineeringandtechnology programmesinNigerian universities,ensuring institutionsadmitonlythe numberofstudentstheir infrastructure,laboratories, workshops,equipmentand academicstaffcan adequatelysupport.
CORENPresidentSadiq Abubakar,announcingthe approvalaheadofthe council's34thEngineering AssemblyinAbuja, describedthedevelopment astheculminationof decadesofadvocacy, notingthatunrestricted admissionshad overstretchedfacilitiesand weakenedpracticaltraining inmanyinstitutions.
(Punch, July 8, 2026)
SaharaGroupTasks StudentstoLeadAfrica's EnergyTransition ThroughInnovation StudentsoftheUniversity ofLagoswereurgedtotake theleadinAfrica'senergy transitionbydeveloping innovativesolutions,during theEnergyTransition360 programmeorganisedby theUNILAGEnergyClub, whichintroducedstudents toSaharaGroup'svisionfor inspiringfutureinnovators, entrepreneursand sustainabilitychampions. EjiroGray,SaharaGroup DirectorofGovernanceand Sustainability,saidAfrica's energyfuturewillbe determinedbythe willingnessofyoungpeople
tocreatepracticalsolutions thatimproveenergyaccess anddrivesustainable development.
(The Cable, July 15, 2026)
09 CORPORATENEWSANDAPPOINTMENTS Continental expansion, results and recognition
SUBSECTORINSIGHT Dangote Group's continental footprint widened, with a package of Tanzanian projects unveiled after talks with President Samia Suluhu Hassan, coveringamodernport,a2,000MWcoal-firedpowerplant,aureafertiliserplantandaspecialeconomiczone,whileathometheEnvironmental andSocialImpactAssessmentfortheproposedDangoteIndustrialCityandDeepSeaportadvancedacrosshostcommunitiesinOgunandOndo states and the group launched a N500,000 whistleblowing reward against illegal use of its trucks. NIPCO shareholders approved a N1.501 billiondividendofN8persharefor2025.Shelltookdoublehonoursatthe25thNOGEnergyWeek,winningtheEqualityinEnergyAwardwithits Daystar Power subsidiary recognised for sustainability, ahead of Elohor Aiboni assuming the combined role of Executive Vice President and Country Chair Nigeria on August 1. Sahara Group Foundation expanded its recycling network to 22 sites nationwide with new hubs in Jigawa andKaduna.
DangoteUnveilsPort,2,000MW PowerPlantProjectsinTanzania AlikoDangoteannounced planstoexpandinvestments inTanzaniawithapackage ofinfrastructureand industrialprojectsincluding anewseaport,a2,000 megawattcoal-firedpower plant,aureafertiliserplant andaspecialeconomicand tradezone,unveiledafter talkswithPresidentSamia SuluhuHassaninDares Salaam.
Theplanincludesamodern
portwitha40kilometre concreteaccessroadand transportinfrastructure linkingtheIndianOcean portcityofMtwarato MbambaBayonLake Malawi,designedtosupport Tanzania'sindustrialisation agendawhilestrengthening transport,energyand manufacturingcapacity
(SweetCrude Reports, July 1, 2026)
FGUrgesOgun,Ondo CommunitiestoSupportDangote IndustrialCity,DeepSeaportProject HostcommunitiesinOgun andOndostateswerecalled ontogivemaximum supporttotheproposed DangoteIndustrialCityand DeepSeaportprojectduring athree-daycombined EnvironmentalandSocial ImpactAssessmentsitevisit acrossOde-OmiWaterside CommunityinOgunState andAraromiCommunityin OndoState.
RofikatAdebukunola Odetoro,Directorof AssessmentattheFederal
MinistryofEnvironment, representingMinister BalarabeLawal, commendedthelevelof communityconsultations, whileDangoteIndustries ManagingDirector, Infrastructureand Logistics,JamilAbubakar assuredindigenesof transparency,fairnessand continuousengagement throughoutimplementation.
(Vanguard, July 6, 2026)
DangoteCracksDownon IllegalHaulage,OffersN500,000WhistleblowerReward DangoteIndustries unveiledapublic whistleblowinginitiative offeringaN500,000 cashrewardforcredible informationleadingto thearrestofoffendersor interceptionof unauthorisedgoods
transportedbyDangotebrandedtrucks,partof effortstoprotectthe integrityofitslogistics operations.
Thecompanystatedthat onlyspecifically approvedproductsmay betransportedbyits
subsidiaries'vehicles: cement,limestone,highgradegypsum,coaland clinkerforDangote Cementtrucks;sugar productsforDangote SugarRefinery;Dangote SaltandDanQ SeasoningforNASCON
AlliedIndustries;and bagsandpackaging materialsforDangote Packaging.
(Vanguard, July 12, 2026)
SaharaGroupFoundationExpands RecyclingPushintoJigawa,Kaduna Twonewrecyclingcentres openedinnorthernNigeria: ahubinGidanHakimiin JigawaState'sShuwarin LocalGovernmentAreaon July14,builtwithbacking fromtheKing'sCouncilof Shuwarin,andacentreatan AsharamiRetailStationin Badiko,KadunaSouth LocalGovernmentArea,on July15,developed alongsideAsharami Synergy
Theadditionsbringthe
Foundation'swaste-toincomenetworkto22sites nationwideandmarkits secondandthirdlocations inthenorth.Director ChidilimMenakayasaidthe expansionreflectsastrategy ofworkingthroughlocal partnerstobuildarecycling ecosystemcommunitiescan own,sustainandbenefit fromoverthelongterm.
(BusinessDay, July 19, 2026)
DoubleHonoursforShell atNOGEnergyWeek ShellNigeriawonthe EqualityinEnergyAward foritscommitmentto diversityandinclusion, whileitsrenewableenergy subsidiaryDaystarPower receivedtheSustainability inEnergyAward,atthe 25thNOGEnergyWeekin Abuja.
Thecompanysaidthe recognitionsreflectongoing effortstopromoteequitable
opportunities,withformer SNEPCoManaging DirectorElohorAiboni assumingthecombined roleofExecutiveVice PresidentandCountry ChairNigeria,thefirst Nigeriantoholdit,on August1.
(Independent, July 14, 2026)
Source: NGSC 2026 registration records. Delegate and visitor categories are taken from the two registration sheets.
GT ESG GROUNDTRUTH MRV and ESG intelligence from Fleissen & Company
