ENERGY SUMMARIES. JULY 26

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JULY 2026

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THETEAM

Project

01 UPSTREAMEXPLORATIONANDPRODUCTION

Licensing, output targets and asset

security

SUBSECTORINSIGHT

Crude oil production of 1.8 million barrels per day, up from about 1 million barrels per day three years ago, framed the month's upstream conversation, with Minister of State Heineken Lokpobiri restating the 2.5 million barrels per day national target and citing a rise in active rigs from fewer than 10 to more than 60. The NUPRC confirmed the 2026 licensing round will open in the third quarter following presidential approval, while the commercial bid stage of the 2025 round holds in July Asset security drew fresh institutional weight through an NUPRC and Ministry of Defence agreement covering drone surveillance and non-kinetic community interventions. At company level, Savannah Energy reported an 8 per cent production increase at Stubb Creek and a 48 per cent rise in cash collections, and Ogun State advanced frontier explorationatEbaIslandwithequipmentmobilisedfordrilling.

SavannahEnergyPostsStrong Four-MonthPerformancewith8% IncreaseinNigeria'sDailyProduction

Averagegrossdaily productionattheStubb Creekfieldrose8percent to3.1Kbopdforthefour monthstoApril30,2026, from2.8Kbopdayear earlier,SavannahEnergy PLCreportedinatrading updateaheadofitsJune1 AnnualGeneralMeeting. Groupaveragegrossdaily productionstoodat15.7 Kboepd(FY2025:18.8 Kboepd),withgasvolumes constrainedbyongoing drillingactivityand customerdemand.

Revenuesincreased17per centyearonyearto US$104.1millionfrom

US$89.1million,while cashcollectionsrose48per centtoUS$183.5million fromUS$124.1millionin thesameperiodof2025. Tradereceivablesdeclined 22percenttoUS$395.2 millionfromUS$507.2 millionatyear-end2025, cashbalancesstoodat US$64.7millionagainst US$42.8millionat December31,2025,andnet debtclosedatUS$641.7 millionfromUS$658.6 million.

(Energy Focus Report, June 1, 2026)

Nigeriatargets2.5mbpdoil output,saysMinister

Crudeoilproductionof 2.5millionbarrelsper dayremainsthenational target,MinisterofState forPetroleumResources (Oil)Heineken LokpobirisaidonJune

10attheMinistryof PetroleumResources 2026Management RetreatinAbuja,themed "DrivingInstitutional Performanceand Accountabilityinthe

NUPRCtoCommence2026 LicencingRoundinQ3After Tinubu'sApproval

The2026oillicensing roundwillopeninthethird quarterof2026following PresidentBolaTinubu's approvalinlinewiththe PetroleumIndustryAct,the NigerianUpstream PetroleumRegulatory Commissionstated. CommissionChief ExecutiveOritsemeyiwa Eyesandisclosedthe timelineduringavisitby MerenEnergy(formerly AfricaOil)tothe commission'sAbuja headquarters,inastatement

byHead,Mediaand Corporate Communications,Eniola Akinkuotu.

Eyesansaidthecommercial bidstageofthe2025 licensingroundtakesplace inJuly,afterwhichthenext roundcommences,and linkedincreased participationinthe2025 roundandrisingproduction torenewedinvestorinterest intheupstreamsector

(ThisDay, June 4, 2026)

PetroleumSectorfor SustainableNational Development."

Productionhasrisen fromabout1million barrelsperdayto1.8 millionbarrelsperday overthepastthreeyears, whileactivedrillingrigs increasedfromfewer than10tomorethan60, accordingtotheminister Lokpobiridirected participantstodevelopa

comprehensive frameworkforraising production,expanding reservesandincreasing thesector'scontribution tonationaleconomic development,naming sustainedinvestmentand expandedexplorationas thecriticallevers.

(EnviroNews, June 10, 2026)

OGTANseekshigheroiloutput, lowerproductioncost NUPRC,DefenceMinistryDeepen CollaborationonOilAssetSecurity, SeekDroneSurveillance

Skilledmanpowergaps couldconstraineffortsto raiseNigeria'soil production,theOilandGas TrainersAssociationof Nigeriasaidatapress briefingaheadofits2026 HumanCapacity DevelopmentConference andTrainers'Fair, scheduledforWarriin August.

OGTANPresidentChris Osarumwensesaid shortagesofpersonnelwith therequiredknowledge, technicalskillsand professionalattituderemain

amajoroperatorchallenge, andthatthetransferof assetsfrominternationaloil companiestoindigenous operatorshasincreasedthe urgencyoflocalcapacity building. Hecommendedindigenous companiesforsustaining, andinsomecasesraising, productionaftertakingover divestedassets,while callingforcontinued investmentinhuman capital.

(The Guardian, June 18, 2026)

OgunOilExplorationAdvances asEbaIslandProjectGains Momentum

Crudeoilexplorationat EbaIslandinOgun WatersideLocal GovernmentAreahas enteredanadvanced phase,withcivil constructionunderwayat thesiteandwell interventionandre-entry

equipmentmobilisedfor drillingandsubsurface evaluation.Theprogress followstheFederal Government'sgrantof FrontierExploration StatustoOgunState throughtheFederal MinistryofPetroleum

02 REFININGANDDOWNSTREAM

Capacity expansion, pricing and market conduct

SUBSECTORINSIGHT

TheNigerianUpstream PetroleumRegulatory Commissionandthe FederalMinistryofDefence agreedtostrengthen collaborationonprotecting oilandgasinfrastructure throughacombinationof securitymeasures,drone surveillancetechnology, communityengagementand non-kineticinterventions, duringaDefenceMinistry visittothecommission's Abujaheadquarters.

CommissionChief ExecutiveOritsemeyiwa Eyesansaidsustained investmentinsecurity architecture,technology

deploymentandhuman resourceshascontributedto curbingcrudeoiltheftand improvingproduction levels,addingthatfurther effortisrequiredasNigeria seekshigheroutputand freshupstreaminvestment. Bothinstitutionsagreedto promotepeaceandstability inhostcommunities alongsidecrudeproduction growth,inastatementby thecommission'sHead, MediaandCorporate Communications,Eniola Akinkuotu.

(Punch, June 23, 2026 / ThisDay, June 24, 2026)

Resources. Stateofficialssaidthe campaignformspartofa strategytoestablish commercialhydrocarbon productionwithinthe state'sfrontieracreage, diversifyrevenueand attractlong-termenergy

investment,withjob creation,infrastructure developmentandlocal businessparticipation amongtheexpected benefits.

(Petroleum Price, June 27, 2026)

Constructionbeganonasecond700,000barrelsperdaycrudeprocessingunitattheDangoterefinerycomplex,targetedonlinebyend-2028and lifting total capacity to roughly 1.4 million barrels per day, supported by a US$400 million equipment agreement with China's XCMG. Preparations for a September 2026 initial public offering that could raise up to US$2 billion at a valuation of about US$40 billion drew heavy investor interest, prompting the SEC to halt unauthorised IPO promotions. On pricing, the refinery cut its petrol gantry price by N75 per litre to N1,175afterMiddleEastde-escalation,whilePETROAN,theFCCPCandtheMinisterofStateforPetroleumResources(Oil)pressedmarketers forfullerpass-throughoflowercrudecosts.TheNMDPRAapprovedfreshpetrolanddieselimportpermitsforthethirdquartertoguardagainst supplyshortfalls.

DangoteBreaksGroundon 700,000-BpdSecondCrude ProcessingUnit

Constructionhasstarted onasecondcrude processingunitatthe Dangoterefinery complexinLekkithat willadd700,000barrels perdayofcapacity, accordingtoDangote PetroleumRefinery ChiefExecutiveOfficer DavidBird.

Theunitisexpected onlinebytheendof 2028andwouldlift totalprocessing capacityatthecomplex toroughly1.4million barrelsperday,ascale comparablewiththe

world'slargest refiningsites.

Theexisting650,000 barrelsperdayrefinery reachednear-full utilisationthisspring, helpingturnNigeria intoanetpetrol exporterforthefirst timewhileshipping largevolumesofjetfuel toEuropeduring refineryoutages,low inventoriesandwarrelatedsupply disruptions.

(Oilprice.com, June 4, 2026)

Dangoterefineryslashes petrolgantrypriceby N75/litre

Thegantrypriceof PremiumMotorSpirit fellbyN75perlitreto N1,175fromN1,250, whilethecoastalprice permetrictonne droppedtoN1,495,215 fromN1,595,790,under newratesannouncedby DangotePetroleum Refineryinacircularto fuelmarketers.

Therefineryattributed theadjustmenttothe de-escalationoftension intheMiddleEast,

whichhadliftedenergy pricesoverthe precedingthreemonths, andsaidalloutstanding unloadedgantry volumeswouldbe repricedatthenewrate effectivemidnighton June16.

(Punch, June 16, 2026)

DangoteRefineryShieldsNigeria From₦6,000/LitrePetrolShock, IPMANClaims

Petrolcouldhavereached betweenN5,000and N6,000perlitrewithout domesticrefiningcapacity duringtheperiodofMiddle Easttensions,accordingto theIndependentPetroleum MarketersAssociationof Nigeria.Spokesperson ChineduUkadikesaidthe tensionsinvolvingIran,the UnitedStatesandIsrael injectedvolatilityinto globalcrudesupplychains, leavingimport-dependent economiesmostexposedto sharppriceincreases.

Growingdomesticrefining output,ledbytheDangote refinery,reducedNigeria's exposuretoexternal shocks,stabilisedproduct availabilityandmoderated pricingpressureinthe downstreammarket, Ukadikesaid.

(Petroleum Price, June 10, 2026)

PETROANdemands fuelpricecutsascrude falls

Brentcrudeatabout$77to $78perbarrelfollowingthe ceasefireagreement betweentheUnitedStates andIranshouldtranslate intolowerex-depotand retailpumpprices,the PetroleumProductsRetail OutletsOwnersAssociation ofNigeriasaid,callingon refiners,depotownersand importerstopassreduced crudecoststoconsumers. NationalPresidentBilly Gillis-Harry,inastatement signedbyNationalPublic RelationsOfficerJoseph Obele,saidmarketrealities shouldbereflectedin pricing.Theassociation

citedprojectionsofBrent tradingbetween$75and $82perbarrelandWest TexasIntermediatebetween $72and$79inthe followingweek,naming continuedimplementation ofthepeaceagreement, increasedMiddleEast crudeexportsandweaker globaldemandasthe factorsbehindthedecline.

(Punch, June 20, 2026)

SECstopsDangoteRefinery IPOpromotions,warnsinvestors FGissuesfreshpetrol importpermits

Allpromotionalactivities relatingtoapurported initialpublicofferingby DangotePetroleum Refineryand PetrochemicalsFZEmust stopimmediately,the SecuritiesandExchange Commissiondirected capitalmarketoperators, statingthatithasneither receivednorapprovedany applicationforsuchan offer

Thedirective,issuedina

publicnoticeonJune23, followedthecirculationof advertisements,flyers, digitalbannersandtargeted electronicmailspromoting asupposedpublicoffering acrosssocialmedia platformsandinvestment channels.Thecommission raisedconcernoverthe involvementofsome registeredcapitalmarket operatorsintheexercise.

(Punch, June 23, 2026)

Dangoterefineryeyes$2bnin historiclisting–Report

Theplannedinitial publicofferingof DangotePetroleum Refinery,expectedin September2026,could raiseasmuchas$2 billionandbecomethe largeststockmarket

listinginAfrica's history,accordingtoa Bloombergreport. Institutionalinvestors haveindicatedinterest amountingtonearly$2 billionaheadofthe formallaunch,with

FCCPCquestionsslowfuelprice cutsdespitecrudeoilcrash

Onlymarginalfuelprice reductionshave followedthesharpdrop inglobalcrudeoil prices,theFederal Competitionand ConsumerProtection Commissionsaid,

describingfindingsfrom itsongoingdownstream marketsurveillanceas suggestingpossible consumerexploitation.

Areviewofprevailing gantryandretailprices indicatedthatconsumers

Freshpetrolanddiesel importapprovalscovering JulytoSeptember2026 havebeenissuedbythe NigerianMidstreamand DownstreamPetroleum RegulatoryAuthorityto preventpotentialsupply shortages,accordingtoa reportbyenergy intelligencefirmArgus Mediacitingregulatoryand industrysources. Domesticfirmsincluding AARano,AYMShafa,

BonoEnergy,Nipco, MatrixEnergyandPinnacle Oilreceivedpermitsto importPremiumMotor Spiritforthethirdquarter Theapprovalscameamid decliningfuelstocklevels andconcernsoverreduced petroloutputattheDangote refinery,asauthorities balancerisinglocalrefining capacitywithsupply security

(Punch, June 24, 2026)

demandalsodrawnfrom wealthyNigeriansand first-timeretail investors.

Theofferingisexpected tovaluetherefineryat about$40billion,with somemarketestimates

placingthepotential valuationashighas$50 billion.

(Punch, June 26, 2026)

wereyettobenefitfully fromtheeasingin globaloilprices, accordingtoastatement issuedonJune28bythe commission'sDirector ofCorporateAffairs, OndajeIjagwu,covering

localrefiners,depot operators,marketersand fillingstationowners.

(Punch, June 28, 2026)

Africa'srichestmansigns $400millionChinaequipment dealasrefinery

expansion targets1.4millionbpd

A$400million equipmentagreement withChina'sXCMG hasbeensignedby DangoteGroupto supporttheexpansion oftheLekkirefinery from650,000barrels perdayto1.4million barrelsperday Thedealcomesas DangoteRefinery

preparesforamajor capitalraiseand possiblelisting,with theexpansionplacing thefacilityamongthe world'slargestrefining complexesupon completion.

(Business Insider Africa, June 29, 2026)

03 NATURALGASDEVELOPMENT

Production, infrastructure and the domestic market

SUBSECTORINSIGHT

FGordersmarketersto reducefuelprice

TheNigerianMidstream andDownstreamPetroleum RegulatoryAuthoritymust ensurepetroleummarketers donotexploitNigerians throughexcessivepricing underthederegulated downstreammarket, MinisterofStatefor PetroleumResources(Oil) HeinekenLokpobiri directedinakeynote addressattheNMDPRA GeneralCounselandLegal AdvisersForuminAbuja. Thetwo-dayforumheld underthetheme"Beyond

Compliance:Driving RegulatoryCertaintyand InvestmentConfidencein Nigeria'sPetroleum Sector."Lokpobirisaid deregulationmustnot becomeanavenuefor profiteeringattheexpense ofconsumers,notingthat Nigeriansexpect correspondingpumpprice reductionsfollowingthe declineinglobalcrude pricesafterMiddleEastdeescalation.

(Vanguard, June 30, 2026)

Average daily gas production reached 7,930 MMSCFD in May 2026, a 0.63 per cent year-on-year increase, with non-associated gas at 3,980 MMSCFDedgingpastassociatedgasat3,960MMSCFDforthefirstsustainedperiodanddomesticsalesrisingto2,180MMSCFD,or26.6per cent of usage. Infrastructure momentum continued: NNPC Ltd restated its target of early gas supply to Abuja on the AKK pipeline following completion of the OB3 River Niger crossing, NLNG Train 7 reached 90 per cent completion with 16,000 jobs generated, and Bonny Gas Transportorderedthree174,000cubicmetreLNGcarriersfor2029delivery TheLPGmarketdominatedpolicyattentionafterpricesroseabout 140 per cent to N2,400 per kilogramme, prompting an emergency federal meeting, import licences for marketers and NMDPRAplans against a projected165,000metrictonnethird-quartersupplyshortfall.

NNPCTargetsEarlyGasSupplyToAbujaAs AKKPipelineAdvances,PostsStrongAprilPerformance

Naturalgasdeliveryto Abujain2026remains thetargetas constructionadvances ontheAjaokutaKaduna-Kanogas pipelinemainline, NNPCLtdstatedinits

April2026Monthly ReportSummary. ProgressontheAKK followsthecompleted OB3RiverNiger crossing,withboth projectscentraltothe FederalGovernment's

gasexpansionagenda. Thecompanysaidthe pipelineisdesignedto expandgasavailability acrossnorthernNigeria insupportof industrialisation,power generationand

economicdevelopment, withearlysupplyto Abujaplannedbefore thelineextendsfurther north.

(Independent, June 2, 2026)

NLNGawardscontracts forthreenewvessels

Contractsforthreenew liquefiednaturalgas carriers,eachwithacargo capacityof174,000cubic metres,havebeenawarded byBonnyGasTransport Limited,asubsidiaryof NigeriaLNGLimited,to Hudong-Zhonghua ShipbuildingGroupand ChinaShipbuildingTrading Company Thevesselsare scheduledfordeliveryin 2029,willbecharteredby NLNGandmanagedby NLNGShippingand MarineServicesLimited.

EachcarrierwilluseX-DF propulsiontechnologyfor improvedfuelefficiency andloweremissions relativetoolderdesigns. BGTsaidthenewbuilds formpartofitsfleet renewalandreplacement programme,willcomply withglobalandEuropean Unionemissions regulations,andsupport NLNG'sOGMP2.0Level5 rating.

(Punch, June 4, 2026)

ShellStrategisestoExpand GasUtilisationinNigeria

Pipelinenaturalgas infrastructureexpansion andthemarket-making roleofgasdistributors movedgasfrompolicy aspirationtoapractical energysolutionfor Nigerianindustries, ShellNigeriaGassaidat aforumthemed"From GasAbundancetoGas Access:Reassessing Nigeria'sGas Distribution Imperatives."The company,which pioneeredgas distributionnearly30 yearsago,saidindustrial clustersgrowandattract long-termcapitalwhen demandambition,supply certainty,enabling

infrastructureand commercialclaritycome together.

Panellistscitedthe PetroleumIndustryAct, theNetworkCode governingoperationsof thedomesticgasmarket, andtheDomesticGas SupplyObligation compellingproducersto allocategasdomestically asinstrumentsthat reducedpolicy ambiguityaroundgas development,andcalled forclear,supportiveand crediblepolicy frameworkstoimprove gasuse.

(Energy Focus Report, June 9, 2026)

Nigeriatounveilfirstgas, powerinfrastructuremapat NOGEnergyWeek

Nigeria'sfirst comprehensiveGasand PowerInfrastructureMap willbereleasedatthe25th NOGEnergyWeek, coveringpipelines, processingfacilities,power generationassets,LNG terminalsandmajor transmissionnetworksina singleconsolidated overview Themap, developedbytheGasfor Africaprogrammein partnershipwithNNPC Limited,addressesthe absenceofreliable consolidatedindustrydata, along-standingconstraint oninvestmentinthegas

andpowersector. Attendeeswillalsoreceive astrategicreportexamining themarket'sevolutionsince 2020,theNNPCGas MasterPlan2026,upstream productiontrendsand reserves,midstream pipelinecapacitygaps, downstreamCNG,PNG andLNGdevelopments, thegas-to-powervalue chain,andgas-based industriesincluding fertilisers,petrochemicals, methanolandmetals processing.

(The Guardian, June 8, 2026)

Nigeriatargets215Tcfnatural gasreservestodriveeconomic growth,energytransition

Provennaturalgasreserves ofover215trillioncubic feetanchorNigeria's commitmenttogasasa transitionfuelforeconomic growth,energysecurityand lower-carbondevelopment, MinisterofStatefor PetroleumResources(Gas) EkperikpeEkposaidduring bilateraldiscussionswith Alberta'sMinisterof EnergyandMinerals,Brian Jean,inCalgary,Canada. Bothsidesagreedto strengthencooperationon energytransition,emissions reductionandcapacity

development.Jeancited Alberta'sprogressin emissionsmanagement, includingcarboncapture andmethanereduction initiatives,andoffered technicalcooperation, knowledgesharingand capacitydevelopment supporttoNigeria,ina statementsignedbythe minister'sspokesman, LouisIbah.

(The Nation, June 11, 2026)

Nigeria'sgasproductionrisesas domesticsaleshit2.18bcf/d —NUPRCreport

Averagedailynaturalgas productionroseto7,930 MMSCFDinMay2026,a 0.63percentyear-on-year increasefrom7,880 MMSCFDinMay2025, accordingtodatapublished ontheNigerianUpstream PetroleumRegulatory Commissionwebsite. Associatedgasaccounted for3,960MMSCFDwhile non-associatedgas contributed3,980 MMSCFD,withdedicated

gasdevelopmentprojects nowmatchingassociated volumesintheproduction mix.

Domesticsalesreached 2,180MMSCFD,or26.6 percentoftotalgasusage, onstrongerdemandfrom powergenerationand industrialusersunderthe nationalgasexpansion agenda.

(Punch, June 15, 2026)

FGNreaffirms development commitmentas ANOHGas ProcessingPlant rampsup production

Productionis rampingupatthe ANOHGas ProcessingPlant, withtheFederal Government reiteratingits commitmenttothe projectduringa courtesyvisitby ANOHGas Processing CompanyManaging

DirectorJames Makindeand membersofthe executive managementteam totheMinisterof StateforPetroleum Resources(Gas), EkperikpeEkpo,in Abuja.

(LinkedIn, June 19, 2026)

Cookinggas:Marketersplan massiveimportsafter140% pricesurge

LiquefiedPetroleumGas pricesroseabout140per cent,fromanaverageof N1,000perkilogrammein JanuaryandFebruarytoas highasN2,400,prompting marketerstoplanlargescaleimportsasthe regulatorissuesimport licencestoendthescarcity Industrysourcesattributed reduceddomesticsupply partlytolowerLPGoutput fromtheDangoterefinery linkedtointernalutilisation duringitsramp-upto

700,000barrelsperday, ratherthanexports.The NMDPRAiscollaborating withNNPCLtdandother stakeholderstoboost availability,while marketerscommittedto importinglargervolumes, accordingtoLouisIbah, spokesmanfortheMinister ofStateforPetroleum Resources(Gas),Ekperikpe Ekpo.

(Punch, June 16, 2026)

GasUnionAdvocatesW'African MarketIntegrationforEnergy Security

Unifiedregional cooperation,accelerated cross-borderinfrastructure developmentandregulatory harmonisationarerequired tounlockWestAfrica's naturalgasresources, InternationalGasUnion RegionalCoordinatorfor Africa,Akachukwu Nwokedi,saidinthe openingkeynoteatthe2026 WestAfricaGasSummitin Accra,Ghana,wherehe representedIGUPresident AndreaStegher Nwokedisaidglobal disruptions,including tensionsintheMiddleEast andtheStraitofHormuz crisis,acceleratedAfrica's

emergenceasastrategic gassupplyalternative,and cautionedthatfragmented nationalmarketsleavethe continentexposedtorisk andunabletocapture emergingglobal opportunitiesinfull.

(ThisDay, June 23, 2026)

LPGPrices:FGConvenesEmergency Meeting,InvitesDSS,EFCC,Policeto EndDiversion,Hoarding,Others

AprojectedLPGsupply shortfallofabout165,000 metrictonnesinthethird quarterof2026isbeing addressedthrough NMDPRAmitigationplans, theauthoritydisclosedatan emergencyfederal stakeholders'meetingon cookinggaspricesinAbuja onJune22. MinisterofStatefor PetroleumResources(Gas) EkperikpeEkposaidthe DepartmentofState Services,theEconomicand FinancialCrimes Commissionandthe

NigeriaPoliceForcewillbe involvedintacklingproduct diversion,hoarding, speculativestorageand pricingdistortions.Ekpo directedtheNMDPRAto intensifymarket surveillance,engage operatorsacrossthevalue chainandcollaboratewith securityagenciesto eliminateartificialscarcity, statingthatNigeria'sgas resourcesmustfirstserve domesticconsumers.

(ThisDay, June 23, 2026)

NLNGAnnouncesGraduation of70ProfessionalsfromTrain 7Programme

Seventyyoung professionalscompletedthe NLNGTrain7project humancapacity developmentbasictraining programme,anintensive one-yearcourseindata analysisandsupplychain management,thecompany announced. Graduatesalsoreceived practicalexposureinhealth, safetyandenvironment, businessmanagement, informationtechnology, documentmanagementand Nigeriancontentawareness.

Train7Hits90%Completion,Generates16,000Jobs –NCDMB,NLNG

The$10billionNLNG Train7projectonBonny Islandhasreached90per centcompletionand generated16,000jobs,the NigerianContent Developmentand MonitoringBoardand NLNGstatedasboth

organisationsrenewedtheir commitmenttoin-country valueaddition.Train7is designedtoraisethe NigeriaLNGterminal's totalproductioncapacityby about35percent,from22 milliontonnesperannumto 30MTPA.

04 POWERSECTORREFORM

Therenewedcommitment followedacourtesyvisitby NLNGManagingDirector AdeleyeFaladetoNCDMB ExecutiveSecretaryFelix OmatsolaOgbeatthe board'sLagosliaisonoffice, whereFaladesaidthe companyremainsfocused

Grid investment, compensation and long-range capacity planning

SUBSECTORINSIGHT

GeneralManager,External RelationsandSustainable Development,Sophia Horsfall,saidthe12-month programmeequipped participantswiththe professionalintellect, disciplineandcharacterto contributeacrosstheenergy sector,andchargedthemto applytheirskillswith integrity,precisionand excellence.

(ThisDay, June 23, 2026)

ondeepeningNigerian content,strengthening indigenouscapacityand retaininggreaterin-country valueacrossitsgasvalue chain.

(Daily Trust, June 25, 2026)

Constructionbeganonasecond700,000barrelsperdaycrudeprocessingunitattheDangoterefinerycomplex,targetedonlinebyend-2028and lifting total capacity to roughly 1.4 million barrels per day, supported by a US$400 million equipment agreement with China's XCMG. Preparations for a September 2026 initial public offering that could raise up to US$2 billion at a valuation of about US$40 billion drew heavy investor interest, prompting the SEC to halt unauthorised IPO promotions. On pricing, the refinery cut its petrol gantry price by N75 per litre to N1,175afterMiddleEastde-escalation,whilePETROAN,theFCCPCandtheMinisterofStateforPetroleumResources(Oil)pressedmarketers forfullerpass-throughoflowercrudecosts.TheNMDPRAapprovedfreshpetrolanddieselimportpermitsforthethirdquartertoguardagainst supplyshortfalls.

Electricity:AEDCtobeginBandA customers'compensationinfour statesafterNERCdirective

Compensationequalto20 percentofaverageenergy billedwillgotoBandA customerswhoreceived lessthan18hoursofdaily supplyinFebruaryand March2026,withtheAbuja ElectricityDistribution Companyconfirming paymentsacrosstheFederal CapitalTerritory,Nasarawa, NigerandKogistatesunder aNigerianElectricity

RegulatoryCommission directive. Thecommissionset completiondeadlinesof May31,2026forthe Februarycompensationand June30,2026forMarch, withelevenDisCoscovered bythedirectiveissuedafter powersupplyshortages recordedinthetwomonths.

(Daily Post, June 5, 2026)

TCNGrantsMainstreamAccess forKainjiExpansiontoEvacuate Additional220MW

Sitehandoverforthe constructionoftwo330kV baysattheKainji TransmissionSubstation tookplaceonJune5, enablingMainstream EnergySolutionsLimitedto begincivil,electricaland mechanicalworks,testing andcommissioningforthe evacuationofanadditional 220MWfromtheKainji hydropowerplant. Thebayswillevacuate

ECN,RSEEngineeringSeal DealToReduceIndustrialPowerCosts

Combinedheatandpower systemsthatallow factoriestogenerate electricitywhilecapturing wasteheatwillbe deployedundera cogenerationagreement signedinAbujabetween

theEnergyCommission ofNigeriaandRSE EngineeringNigeria Limited.

ECNDirector-General MustaphaAbdullahisaid thepartnershiptargets energysecurity,industrial

productivityandNigeria's energytransitiongoals, supportingenergy diversification,improved efficiency,enhanced accessandreducedcarbon emissionsunderthe EnergyTransitionPlan,

powerfromtwonew turbines,Units1G3and 1G4,eachwith110MW capacity,tobeinstalledat thestation.The TransmissionCompanyof Nigeriaconfirmedthe handoverinastatementby GeneralManager,Public Affairs,NdidiMbah,with theprojectexecutedwholly byMESL.

(ThisDay, June 9, 2026)

anddrawingoncollective actionacrossgovernment, privateoperators, researchers,investorsand developmentpartners.

(Daily Trust, June 11, 2026)

AsoRocktoquitnationalgridafterN47bnpowerbill-Presidency

Anannualenergybillof aboutN47billionis drivingthePresidential Villa'scomplete disconnectionfromthe nationalgridinfavourof anindependentsolar powersystem.Thesolar mini-grid,completed towardstheendof2025

andundergoingtechnical evaluationaheadoffull cutover,receivedN10 billioninthe2025budget underthe"Solarisationof theVillawithSolarMini Grid"programmeanda furtherN7billioninthe 2026budget,bringing totalfundingtoaboutN17

billion.

StateHousePermanent SecretaryTemitope Fashedemidisclosedthe projectstatusto lawmakersearlierinthe year,whileEnergy CommissionofNigeria Director-General MustaphaAbdullahisaid

theVilla'senergy expenseshadbecome difficulttosustain.The complexhashistorically combinedgridpowerwith dieselgeneration.

(The Guardian, June 13, 2026)

Ministerseekssustainablefunding topowerhealthcarefacilities

Sustainablefinancing modelsforelectrifying Nigeria'shealthcare facilitieswerethefocusof theNationalHealthcare ElectrificationInvestor MatchmakingForumin Lagos,whereMinisterof PowerJosephTegbecalled onlocalandinternational investorstoparticipate. HeldundertheNigeria PowerforHealthInitiative, convenedbytheMinistryof HealthandSocialWelfare incollaborationwithUK PACTandhostedby

MinisterofStateforHealth IsiaqSalako,theforum broughttogetherfederaland stategovernment representatives,chief medicaldirectors, developmentpartnersand privatesectorleaders. Tegbedescribedthepower sectorasoneofthemost compellinginvestmentson thecontinentandreliable electricityasafundamental pillarofhealthcaredelivery

(Punch, June 16, 2026)

Nigeriaamongtopbeneficiaries asMission300powers50m Africanhomes

Morethan50million peopleacross40African countrieshavegained electricityaccessunder Mission300,withNigeria, TanzaniaandEthiopiathe leadingbeneficiaries,the WorldBankGroupandthe AfricanDevelopmentBank Groupsaid.

Nigeriaaloneconnected morethan4.5million peoplethroughprivate sector-ledprojects supportedbythe programme.

NDPHCdrivingreliablepowerto empowerbusinesses,communities–Adighije

Reliableandsustainable electricitydeliveryremains theNigerDeltaPower HoldingCompany's commitment,Managing DirectorandChief ExecutiveOfficerJennifer

Adighijesaidinagoodwill messageforDemocracy Day,linkingdependable powertoindustrial expansion,jobcreation, improvedproductivityand strongercommunities.

Nigeria'snuclearpower programmeplansstillalive –IAEADG

DiscussionsonNigeria's nuclearpower programmeremain activeamidcontinuing technicalengagements withrelevant authorities,International AtomicEnergyAgency DirectorGeneralRafael Grossisaidinresponse

Adighijecitedthe company'sEligible CustomerProgramme, whichprovideslarge industrialandcommercial consumerswithdirect accesstoreliableelectricity,

Mission300targets electricityaccessfor300 millionAfricansby2030 andisnowdeliveringat nearlytwicethepace recordedatinception,under amodelintegrating investmentacrosspower generation,transmission, distributionnetworksand off-gridsolutionsalongside policyreformsandprivate sectorparticipation.

(The Guardian, June 17, 2026)

toanenquiryatan IAEAprogrammein Vienna,Austria. Grossisaidtheagency continuestoworkwith Nigeriaonitsnuclear powerplan,withIAEA officialsholdingvisits

asacentralinitiativefor bridgingsupplygapsacross thecountry

(EnviroNews, June 17, 2026)

andtechnicalmeetings withstakeholders towarditsrealisation.

(Premium Times, June 17, 2026)

NERCStrengthensPartnerships with

AfDB,ECN TCNSensitisesHost CommunitiesonProtection ofPowerInstallations

UpdatesontheNigeria ElectrificationProjectand anintroductiontothe AfricanDevelopment Bank'sDeserttoPower initiativefeaturedin meetingsbetweenthe NigerianElectricity RegulatoryCommission anddelegationsfromthe AfDBandtheEnergy CommissionofNigeria, aimedatadvancing electricityaccessand renewableenergy deployment.

TheAfDBdelegation,led byChigoziriEgeruoh, outlinedachievements recordedundertheNEPand ongoingeffortstoextend electricityaccessto underservedandunserved communities,whileDesert toPowertargetsaccelerated cleanenergydeployment andexpandedaccessto sustainableelectricity acrossAfrica.

(ThisDay, June 23, 2026)

SEECADemands Compensationfor ElectricityConsumers inS'EastasApproved byNERC

BandAelectricity consumersinthe South-eastshould receivetheNERCapproved compensationfor powerinterruptions causedbygrid generationconstraints betweenFebruaryand March2026,theSouth EastElectricity Consumers Associationsaidin Enugu.

CoordinatorSebastine ChukwuebukaOkafor notedthatsome

feedershaveinstead beendowngradedto lowertariffbandsover failuretomeet minimumrequired dailysupplyhours,and describedtheNERC compensationdirective asaprogressive, consumer-oriented decisionwhose implementationwould supportstabilityinthe Nigerianelectricity supplyindustry

(ThisDay, June 23, 2026)

Risingincidentsof vandalism,illegalstructures onrightsofwayandsoil excavationnear transmissiontowerbases promptedaTransmission CompanyofNigeria,Enugu Region,sensitisation campaigntotheUmuhuali, EzilloandNkalagu communitiesinEbonyi State.

GeneralManager (Transmission)Thomas Inugonumoutlinedfive priorityrisksrequiring communityintervention:

vandalismof330kVand 132kVhigh-voltagelines, illegalstructureswithinthe rightofway,excavation aroundtowerbases, trading,farmingorresiding directlyunderhigh-voltage towers,andburningwaste beneathtransmissionlines. Similarcampaignsin Makurdi,BenueState,and theAgboguguandIhe communitiesinEnugu Stateproducedpositive outcomes,hesaid.

(ThisDay, June 23, 2026)

OnanugafaultsObi's 10,000MWpowerpromise, saysNigeriaalready has13,500MW

capacity

Installedgeneration capacityofabout 13,500MWalreadyexceeds the10,000MWaddition pledgedbyNigeria DemocraticCongress presidentialcandidatePeter Obi,SpecialAdvisertothe PresidentonInformation andStrategyBayoOnanuga saidinaninterviewon AriseTelevision. Onanugasaidthesector's coreconstraintsare structuralratherthan generationcapacity,naming inadequategassupply, legacydebtsowedtogas suppliersrunninginto

trillionsofnaira,and weaknessesinthenational transmissionnetworkasthe reasonsseveralpower plantscannotoperate optimally.

(Punch, June 24, 2026)

Lagos,GACNSignMoUonPlanned SixGigawattsElectricityTarget Tegbe:Nigeriatargets277GW powercapacityby2060

AStrategicFrameworkfor GasSupplyandEnergy Developmentsigned betweentheLagosState GovernmentandGas AggregatorCompany NigeriaLtd/Gtetargets 6,000MWofelectricityfor thestate,withgasforpower projectssecuredatlessthan halftheprevailingmarket gas-to-powerprice.

GovernorBabajideSanwoOlu,representedatthe LakoweResortsigningby

DeputyGovernorKadri ObafemiHamzat,saidthe frameworklaysthe foundationfordefinitivegas supplyandofftake agreementstoward affordableandreliable energy,andalignswiththe LagosIndependent ElectricityPolicyand StrategicImplementation Planandthestate's THEMESPlusAgenda.

(ThisDay, June 24, 2026)

Installedpowercapacityof 277gigawattsby2060is thetargetunderNigeria's electricitysector transformationplans, MinisterofPowerJoseph TegbesaidattheLagos ChamberofCommerceand IndustryRenewableEnergy OutlookConference2026, themed"PoweringNigeria's EnergyTransition:Policy, InvestmentandIndustrialScaleDeployment." Tegbesaidlessthanhalfof thecountry'smorethan 13,000MWinstalled

NDPHCdeploysAItoimprove powerplantmanagement

Artificialintelligence andmachinelearning toolsnowsupport predictive maintenanceacross NigerDeltaPower HoldingCompany generationassets, enablingengineersto

identifypotential equipmentfailures beforetheyoccur, carryouttimely interventionsand reduceplantoutages, ManagingDirector JenniferAdighije disclosedduringan

engagementwiththe NigerianEconomic SummitGroup. Thecompanysaidthe deploymentmoves operationsfrom reactivemaintenance todata-drivenasset management,

05 RENEWABLEENERGYANDCLEANTRANSITION

Mini-grids, solar finance and clean cooking

SUBSECTORINSIGHT

generationcapacity currentlyreaches consumersreliably,with manufacturersspendinga significantproportionof operatingcostsondiesel andpetrolgenerators.The transitionagendacombines renewableenergyand privatesectorinvestmentto addressenergypoverty, industrialproductivityand economicgrowthalongside climateobjectives.

(The Guardian, June 24, 2026)

improvingoperational efficiencyandplant reliabilityaspartof effortstoraise electricitygeneration.

(Punch, June 29, 2026)

About N9 billion in fresh Rural Electrification Agency disbursements under the DARES Performance-Based Grant framework, drawn from a N100 billion memorandum with Lotus Bank, headlined a month of heavy renewables activity A 505kWp interconnected mini-grid cluster was commissionedinEpe,deliveringelectricitytomorethan8,000residentsacrossfivecommunities,whileanIIRreporttracked53large-scalesolar projects worth about $11 billion within a 209,000MW generation ambition for 2050. Corporate deals included First WATT's 34 MWp solar and 40MWhstoragerolloutforMTNNigeriaandAllOn's$1millioninvestmentinsolarcold-chainproviderEja-Ice.Developmentfinancewidened through a €200 million EIB facility with the Development Bank of Nigeria. Clean cooking pressure intensified: 68.3 per cent of households still cookwithfirewood,producing17percentofnationalgreenhousegasemissionsandanestimated95,300deathsyearly

REAN,NERCdeepencollaboration toaccelerateNigeria'srenewable energytransition ECOWASLaunchesTenderFor SolarElectrificationOf32Public FacilitiesAcrossNigeriaUnder World

Regulatoryframeworks, industrychallengesand investmentopportunitiesin therenewableenergysector werethefocusofa stakeholderengagement betweentheRenewable EnergyAssociationof NigeriaandtheNigerian ElectricityRegulatory CommissionatNERC headquartersinAbuja, accordingtoastatementby REANHeadof CommunicationsOisereime Lloyd-Dietake. REANcalledforstronger

policycoordination, institutionalcollaboration andeffectiveenforcement mechanismstodrive renewabledeployment nationwide,notingthatthe country'senergytransition goalsrequireimproved marketstandards,increased investorconfidenceand enhancedcooperation amongpowersector stakeholders.

(EnviroNews, June 2, 2026)

NEMSA,partnersunveil guidelinesforsolarmini-grid integration

NationalGuidelinesfor InterconnectingSolar Mini-Gridsto DistributionNetworks wereinauguratedin AbujaonJune2bythe NigerianElectricity ManagementServices Agencywithsupport fromtheGerman Governmentandthe EuropeanUnion,under thethirdphaseofthe NigerianEnergySupport Programme. Theguidelinesprovidea frameworkforsafegrid integrationnationwide andsupportthegrowing mini-gridmarket,while theEUandGerman

Governmentalsohanded overadvancedsolar testingequipmentto NEMSAforfield inspectionsof installations.Permanent Secretary,Ministryof Power,Mahmuda Mamman,representedby DirectorofDistribution ServicesUmar Mustapha,saidsolar mini-gridsimprove energysecurityand supportproductive activityinunderserved andunserved communities.

(EnviroNews, June 2, 2026)

Bank-FundedROGEAP Project

Solarpowersystemsfor25 primaryhealthcarefacilities andsevenpublicschoolsin NigerState,NasarawaState andtheFederalCapital Territoryarethesubjectof aninternationalcompetitive biddingprocessopenedby theECOWASCommission undertheRegionalOff-Grid ElectricityAccessProject NigeriaPilotProject. Theinitiative,supportedby theWorldBankthroughan

FGLaunchesClean HydrogenInitiative

Acleanhydrogeninitiative layingthegroundworkfor production,exportand domesticusewaslaunched attheinauguralmeetingof theProjectSteering CommitteefortheNigeria ChildProjectunderthe GlobalCleanHydrogen ProgrammeinAbuja. EnergyCommissionof NigeriaDirector-General MustaphaAbdullahisaid theprojectbeginsthe operationaltake-offof Nigeria'scleanhydrogen roadmap,withhydrogen identifiedasastrategic componentoftheEnergy TransitionPlanand projectionsshowing meaningfulcontributionsto

InternationalDevelopment Associationgrant,covers supply,delivery, installation,commissioning andlong-termmaintenance, withtheGovernmentof Nigeriasupporting operationaland maintenancecostsofthe installations.

(SolarQuarter, June 2, 2026)

electricitygenerationand renewableenergygrowth from2040onward.The initiativeplacesNigeria amongagroupof developingnations preparingtousegreen hydrogenforindustrial competitivenessand climateaction.

(Daily Trust, June 5, 2026)

REAdisbursesN9bntoboost mini-gridprojects

AboutN9billionhasbeen disbursedbytheRural ElectrificationAgencyfor mini-griddeployment, comprisingN7.95billionto Havenhillforcritical equipmentacrossfour projectsinTaraba,Kogiand KwarastatesandN1.056 billiontoFaraday&Otstred Limitedforthreesitesin NigerState.Theallocations followedearlierapprovals ofN7.4billionforVentura LogisticsServicesandN3.2 billionforZanoplus.

Fundingflowsthroughthe DistributedAccessthrough RenewableEnergyScale-up Programme'sPerformanceBasedGrantframework, backedbyarecentlysigned N100billionMemorandum ofUnderstandingwith LotusBank.Managing DirectorAbbaAliyu describedthedisbursement aspartofaconsistentflow ofcapitalintotherenewable energysector

(Punch, June 6, 2026)

Ogunadvocatescleanenergy, distributes3,500stoves

Cleancookstovesarebeing distributedtoOgunState residentsunderaFederal Governmentandstate partnership,FirstLady BamideleAbiodun announcedatthe2026 WorldEnvironmentDay celebrationinAbeokuta,

themed"InspiredbyNature: ForClimate.ForOur Future."

Abiodunsaidcontinued dependenceonfirewood, charcoalandotherbiomass fuelscontributesto deforestation,indoorair pollutionandhealthrisks

REACEO,Stakeholdersto BrainstormonNigeria'sEnergy TransitionPathwayAt2026

OrientalNewsConference

Carboncaptureand decarbonisationofthe extractiveindustryformthe themeofthe2026Oriental Newsnationalconference, scheduledforJuly23at RadissonBlu,Ikeja,Lagos, underthetitle"Carbon Capture:Accelerating DecarbonizationInitiatives InNigeria'sExtractive IndustryThroughBroad RegulatoryReforms." RuralElectrification AgencyManagingDirector AbbaAbubakarAliyuwill

engageenergyexperts, industryleadersand financialinstitutionsonthe agency'sworkinreducing carbonemissionsthrough expandedrenewableenergy development,withinthe EnergyTransitionPlan's net-zero2060objectiveand thecountry'sprioritisation ofdecentralisedsolar power

(Energy Focus Report, June 7, 2026)

includingrespiratoryand cardiovasculardisease,and thatcleancookstovesand liquefiedpetroleumgas offerasafer,healthierand moreefficientalternative. Commissionerfor EnvironmentOlaOresanya saidpromotionofRefuse

Simbapushesenergystorageformedicalfacilities

Batteryenergystorage systems,hybridinverter platformsandgridconnectedenergy systemsforhospitals, clinicsandlaboratories wereshowcasedby SimbaPoweratthe2026

WHXMedicExhibition, targetingelectricity reliabilitychallengesin thehealthcaresector.

SpokespersonDebdeep Mukherjeesaidthe solutionshelp organisationsreduce

dependenceondiesel generators,optimise energyconsumption, loweroperatingcostsand supportcritical healthcareoperations includingdiagnostic equipment,imaging

DerivedFuelasawaste-toenergysolutionformsa majorcomponentofthe state'sclimatestrategy.

(Punch, June 9, 2026)

centresandpatientcare facilities,supportedby localtechnicalexpertise andservice infrastructure.

(Punch, June 10, 2026)

Nigeriaeyes209,000MW,$11bn solarpowerprojects

Generationcapacityof 209,000MWby2050isthe ambitionwithinwhich53 large-scalesolarprojects valuedatabout$11billion areunderwayacross Nigeria,accordingtoa reportbyIIRtrackingthe pipelineofrenewable investments.

Theprojectsformpartofa growingbaseofsolar investmentaimedat strengtheningtheenergy mixandimprovingaccess

inunderserved communities.Alongside utility-scaledevelopments, theFederalGovernment, throughtheRural ElectrificationAgency,is deployingmorethan1,300 solarmini-gridsandoff-grid systems,including250 interconnectedmini-grids designedtosupply electricitydirectlyintothe nationalgrid.

(Punch, June 11, 2026)

FirstWATTtodeploy solar,storageforMTN Nigeriafacilities

AnEnergy-as-aServicedeployment of34MWpofsolar generationand40 MWhofbattery storageacross selectedMTNNigeria facilities,including datacentres,switch facilities,cable landingstationsand customerservice centres,formsthe coreofarenewable energypartnership agreedbetweenFirst WATTRenewable Ltd,asubsidiaryof WATTRenewable Corp,andthe

telecommunications operator

FirstWATTwillalso supplyrenewable infrastructureto power60-kWelectric vehiclecharging stationsacrosseight MTNfacilities.The initiativetargets reduceddiesel reliance,lower emissions,improved uptimeandstronger businesscontinuity acrossMTN's operationalsites.

(Renewables Now, June 15, 2026)

UNForum:Nigeria,NGOunveil 10MWsolarpilottobridgeAfrica's energygap

A10-megawattcommunityownedsolarpilotwithat least75percentlocal femaleparticipationwas unveiledbyDoTheDream YouthDevelopment Initiativeatthe11thUnited NationsScience, TechnologyandInnovation Forum,presentedasa replicablemodelforthe GlobalSouth.

Thesideevent,"She PowersthePlanet:Girlsin EnergyattheFrontline," co-organisedwiththe PermanentMissionof Nigeria,CoNGO,the MactayFoundationand ServasInternational, addressedenergypoverty's disproportionateeffectson

womenandgirls,including unpoweredclinicsand constrainedfemale entrepreneurship.MinisterCounsellorOtaigbeIrusota linkedSDG7onaffordable cleanenergywithSDG5 ongenderequality,citing theNationalEnergy TransitionPlanandover 1,000solarmini-grids deployedbytheRural ElectrificationAgency FounderAdebusuyi Olumadewaoutlinedfive pillarscoveringSTEM pathways,themini-grid, innovationcompetitions, capacitycampsandaccess toglobalcapital.

(The Sun, June 13, 2026)

ECOWASSeeksRenewable EnergyRevolutiontoPower RuralDevelopment

Electricityaccessasthe cornerstoneofruralpoverty reductionframedthe ECOWASParliament'scall forarenewableenergy revolutionacrossWest Africaattheopeningofa five-dayDelocalizedJoint CommitteeMeetingin Dakar,Senegal,attendedby parliamentarians, governmentofficials, developmentpartnersand privatesectorstakeholders. Lawmakersnotedthat despitesomeoftheworld's

richestsolarresources, millionsintheregion remainwithoutelectricity FourthDeputySpeaker BillayTunkara,speaking forSpeakerHadja MemounatouIbrahima, saidrenewableenergy shouldbetreatedasa strategiceconomictoolfor farmers,women entrepreneursandyoung peopleratherthanan electricityprojectalone.

(ThisDay, June 16, 2026)

Nigeria's2060cleanenergy targetfeasible–NASENI

Net-zerogreenhousegas emissionsby2060remain attainableifgovernment, businessesandcitizens sustaincommitmentto climateactionand renewableenergyadoption, theNationalAgencyfor ScienceandEngineering Infrastructuresaidata stakeholders'workshopon renewableenergyand environmentalsustainability inAbuja,organisedby AtoBTechnologyLimited

incollaborationwiththe agency.

AgencyrepresentativeEdith AjasaidNigeria'stransition tocleanerenergyaligns withtheglobalshift towardslow-carbon development.Nigeria committedtothe2060netzerotargetattheCOP26 climatesummitinGlasgow in2021undertheParis Agreementframework.

(Punch, June 16, 2026)

NigeriaSecures€200mEIBLoan withDBNtoBoostInvestments inGreenGrowth,Digital Transformation

A€200millionfinancing partnershipbetweenEIB Global,thedevelopment armoftheEuropean InvestmentBankGroup, andtheDevelopmentBank ofNigeriawillsupport

small-scaleinvestmentsby Nigerianenterprises contributingtothegreen anddigitaleconomy.The agreementwassignedatthe DBNLagosofficeinthe presenceofEIBVice-

ExpertsurgeFGtoexpedite actiononcleancookingaccess forhouseholds

Some68.3percentof Nigerianfamiliesstillcook withfirewood,producing17 percentofnational greenhousegasemissions andanestimated95,300 deathsyearlyfromindoor airpollution,International CentreforEnergy, Environmentand DevelopmentExecutive DirectorEwahElerisaidat aworkshopinAbuja, urgingurgentactionon cleancookingaccessfor householdsusingsolid biomassfuel.

Elerisaidwomenbearthe

greatesthealthandtimepovertyburden,andthat despitestrongpolicy momentum,cleancooking financeisheldbackby weakcompliancereadiness, regulatorybottlenecks, fragmentedcoordination andlowinvestor confidence,withstrategic solutionsneededtomeet ParisAgreementand SustainableDevelopment Goalscommitments.

(The Guardian, June 18, 2026)

PresidentAmbroiseFayolle. Ontheenergyside,theloan willimprovefinancingfor renewableenergy businesses,supportclean energyaccess,reduce carbonemissionsandbuild climateresiliencein

Nigeriacold-chainstartupattracts$1minvestment

A$1millioninvestment inEja-IceNigeria Limited,aproviderof solar-powered refrigerationandcoldchaininfrastructure,has beenannouncedbyAll On,theimpactinvesting

companyfocusedon expandingrenewable energyaccessin Nigeria.

Thefundingwillsupport Eja-Ice'smanufacturing andoperationalscaleup,expandingcold-

chainservicesfor households,small businessesand institutionsinoff-grid andweak-grid environments,where limitedenergy infrastructure

underservedcommunities, whileeasingaccessto financeforMSMEsand mid-capcompaniesacross renewableenergyand agribusiness.

(ThisDay, June 21, 2026)

contributestopostharvestlossesand incomeinstabilityfor small-scaleagroproducers.

(Punch, June 22, 2026)

SONtargetsN15mmonthly savingswithnewsolarpowertech Onuigbounveilsmulti-billion-dollar climateinvestmentopportunitiesas Nigeriacourtsglobalcapital

A200-kilowattsolar photovoltaicsystem commissionedatthe StandardsOrganisationof Nigerialaboratorycomplex inLagosisexpectedtosave theagencyaboutN15 millioninmonthlyenergy costs,againstcurrent spendingofaboutN8 millionondieselandN6.2 milliononelectricity Theprojectwas implementedunderthethird

phaseoftheNigeriaEnergy SupportProgramme,funded bytheEuropeanUnionand theGermanGovernment.

DirectorGeneralIfeanyi Okekesaidthesavingswill beredirectedtocritical activities,andthatthe installationalignswiththe nationalenergytransition agendaandenergy efficiencyobjectives.

(The Sun, June 24, 2026)

Africareceivesonly2per centofglobalrenewable energyinvestmentdespite holdingover30percentof theworld'scritical transitionminerals,GLOBE LegislatorsPresidentSam Onuigbotoldinvestorsat LondonClimateAction Week2026,speakingat MansionHouseintheCity ofLondon.

Onuigbo,sponsorof Nigeria'sClimateChange

FG,EU,Germanypowerfive communitieswithsolarmini-gridsinLagos

A505-kilowattpeak interconnectedsolar mini-gridcluster deliveringelectricityto morethan8,000 residentsacrossfive underservedcommunities inEpehasbeen commissionedbythe FederalGovernmentin partnershipwiththe

EuropeanUnion,the GermanGovernmentand theRuralElectrification Agency.Theproject, developedbyA4&T SolutionsLimitedunder theInterconnectedMiniGridAcceleration Scheme,coversthe Odogbawojo, Odoshiwola,Odoayan,

OraandIbowon communitiesinEredo, EpeLocalCouncil. MinisterofPowerJoseph Tegbesaidtheproject operatesasafully integratedenergysystem linkinggeneration, storageandend-user delivery,withinreforms undertheElectricityAct

Act2021andconvenerof theinauguralNigeria ClimateInvestment Summit,framedthesummit asastrategicplatformfor attractinggreencapitalinto climate-aligned opportunitiesacross Africa'slargesteconomy andcorrectingthe investmentimbalance.

(EnviroNews, June 24, 2026)

2023thathave decentralisedpower governanceand expandedparticipation bysub-national governments,private investorsand developmentpartners.

(The Guardian, June 25, 2026)

REAN,SONSynergiseToCurbFakeRenewableEnergyProducts

Qualitycontrol, enforcementframeworks, producttesting, certificationandcapacity buildingformthefocus ofastrengthened collaborationbetween theRenewableEnergy AssociationofNigeria

andtheStandards OrganisationofNigeria againstfakeand substandardrenewable energyproducts, accordingtoastatement byREANHeadof Communications OisereimeLloyd-

Dietake. Lloyd-Dietakesaidweak enforcementandgapsin existingstandardshave allowedinferiorproducts tocirculate,weakening consumerconfidenceand slowingsectorgrowth, andthatthepartnership

aimsatqualityassurance, policyalignmentand effectiveregulation acrosstherenewable energyvaluechain.

(Leadership, June 25, 2026)

NASENItrains50Kanowomen insolartechnologytoboost renewableenergy

FiftywomeninKanoState completedtraininginsolar energyinstallation, maintenanceand entrepreneurshipunderthe NationalAgencyfor ScienceandEngineering Infrastructure'sShe-Powers EnergyInitiative,aimedat expandingwomen's participationinthe renewableenergysector.

ExecutiveViceChairman KhalilSuleimanHalilusaid attheclosingceremonythat theprogrammeequips

womentocreatebusinesses, generateincomeand contributetocommunity development,addingthat risingdemandfor renewableenergypresents opportunitiesforjob creationandthatNigerians shouldbeactive participantsintheenergy transitionratherthan consumersoftechnology alone.

(The Guardian, June 26, 2026)

06 CLEANMOBILITY

CNG rollout, electric vehicles and transport policy

SUBSECTORINSIGHT

UNunveils$3.4msolar-powered Maiduguriairserviceterminal

A$3.4millionsolarpoweredhumanitarianair serviceterminalatthe MuhammaduBuhari InternationalAirport, Maiduguri,hasbeen unveiledbytheUnited NationsWorldFood Programmetosupportthe movementofpeopleand humanitariansuppliesto locationsinaccessibleby roadintheNorthEast. Theterminalwas constructedwithfunding fromtheUnitedKingdom's

Foreign,Commonwealth andDevelopmentOffice andtheWFPthroughthe UnitedNations HumanitarianAirService. HeadofAreaOffice EmmanuelBigenimana saidthefacilitywill strengthencapabilities, improveefficiencyand security,andprovide dedicatedfacilitiesfor passengers,cargoandflight planning.

(Punch, June 30, 2026)

Ten thousand electric tricycles will be distributed by the North East Development Commission inAugust, with President Bola Tinubu approving replication through other regional development commissions, Vice President Kashim Shettima announced, anchoring a month in which transport electrification and gas-powered mobility both advanced. The Federal Government confirmed that the automotive policy under review will accommodate electric vehicles, CNG-powered vehicles and other alternative energy solutions, more than a decade after the National AutomotiveIndustryDevelopmentPlanstalled.TheNationalCNGForummettheOfficeoftheSecretarytotheGovernmentoftheFederationon moving the Presidential CNG and Electric Vehicle initiative from policy development to implementation, expanded conversion access and fuellinginfrastructure.Privateafter-salessupportfornewenergyvehicleswidenedthroughCarloha's6-6-7packageextension,andCalifornia's SecretaryofTransportationendorsedNigeria'sCNGexpansionduringaLagosfacilityvisit.

AutoPolicyToIncorporateEV,CNG-PoweredVehicles–FG

Electricvehicles, compressednaturalgaspoweredvehiclesand otheralternativeenergy solutionswillbe accommodatedinthe reviewednational automotivepolicy, MinisterofIndustry, TradeandInvestment

JumokeOduwolesaidin agoodwillmessageat the30thanniversaryof MotoringWorld International,delivered bySamuelAdetoro, DeskOfficerforAuto Industryattheministry.

TheNationalAutomotive IndustryDevelopment

Plan,passedbythe EighthNational Assemblybutdenied presidentialassentunder formerPresident MuhammaduBuhari,has facedoveradecadeof delay.Thedraftisbeing reviewedforonward passagetotheNational

Assembly,withthe reviewdesignedtoalign theautomotive ecosystemwithglobal trendsinsustainable mobilityandindustrial development.

(Daily Trust, June 5, 2026)

Shettima:FGtoRollOut10,000 ElectricTricyclesByAugust

Tenthousandelectric tricycleswillbedistributed bytheNorthEast DevelopmentCommission inAugustforuseacrossthe North-eastandbeyond, VicePresidentKashim Shettimadisclosedduringa courtesyvisitbyatransport stakeholders'group,adding thatPresidentBolaTinubu hasapprovedreplicationof theinitiativethroughother regionaldevelopment commissions. Shettimasaidthe

administration'stransport reformagendarestsonthe nationwiderolloutof compressednaturalgas, majorportupgradesanda strongerlogisticschain, movingNigeriafroma fragmentedtransportsystem toanintegratednetworkof ports,raillines,CNGpoweredtrucks,inland waterways,airportsand feederroads.

(ThisDay, June 16, 2026)

FG,CNGstakeholderspartner onaffordableenergytransition

Expandedaccessto conversionservices, fuellinginfrastructureand financingwilldeterminethe successofthePresidential CNGandElectricVehicle initiative,theNationalCNG Forumsaidduringa strategicmeetingwiththe OfficeoftheSecretaryto theGovernmentofthe Federationonadvancing cheaperandcleaner transportalternatives. TheforumsaidCNGhas

attractedstronginterest frominvestors,transport operators,businessesand thepublic,andthatthe focusmustnowshiftfrom policydevelopmentto effectiveimplementationof therolloutdesignedtoease transportationcostsand strengthenlong-term energysecurity.

(The Guardian, June 18, 2026)

Carlohaextendsspecialafter-saleservicetoenergyvehicles

TheCarlohaCare6-6-7 ServicePackage, comprisingasix-year warranty,sixyearsof freescheduledservicing andaseven-dayrepair promise,hasbeen extendedbyCarloha

Nigeriatoitsrangeof NewEnergyVehicles, withacourtesyvehicle providedwhenrepairs exceedsevendays.The extensionwasannounced atthemedialaunchof theCheryTiggo9PHEV

atthecompany'sLagos headoffice.

Concernsaroundaftersalessupport, maintenancecosts,repair timelinesandspareparts availabilityremainkey considerationsforNEV

USbacksCNGexpansion,urgesNigeria toembracealternativeenergy

Expansionofcompressed naturalgasinfrastructure inNigeriaisapractical andtimelyresponseto risingfuelcostsand globalenergychallenges, CaliforniaSecretaryof TransportationToks

Omishakinsaidduringa visittoPortlandGas Limited'snewly establishedCNGfacility inLagos. Omishakin,whotoured thefacilityalongside PortlandGasfounderand

ChiefExecutiveOfficer FolajimiMohammed, saidrisingconventional fuelcostsand geopoliticaltensions havemadecleanerand moreaffordableenergy alternativesimperative.

buyers,withmany vehiclessoldwithout comprehensivebacking, leadingsomeownersto usethemsparingly

(The Nation, June 18, 2026)

Mohammedcalledfor maximumutilisationof thecountry'snaturalgas reserves.

(Vanguard, June 19, 2026)

07 TRADEANDINTERNATIONALMARKETS

Crude flows, product trade and bilateral engagement

SUBSECTORINSIGHT

Brentcrudefellfrom$87to$83perbarrelonJune15followingthesigningofaUnitedStatesandIranceasefireagreementandpartialreopening of the Strait of Hormuz, unwinding a conflict premium that had pushed crude above $100 and at points beyond $120 per barrel since late February Tradeflowsreshapedaroundthedisruptionanditsresolution:SEEPCOsuppliedaboutsixmillionbarrelsofNigeriancrudetoIndian state refiners between March and May without transiting Hormuz, the Dangote refinery bought its first UAE cargoes after exports resumed, and Nigeriarecordeditsfirst-everLibyancrudeimportsofabouttwomillionbarrelsinMay AnS&PGlobalanalystreportedNigerianmarketersreimporting Dangote-origin products through the Lome ship-to-ship hub. Bilateral engagement continued through the proposed US-Nigeria Energy Summit, Minister Ekpo's investor pitch at the Global Energy Show in Calgary, and Federal Government commitments on theAgge Deep SeaPort.

US-NigeriaEnergySummitproposal gainsmomentumasLokpobori pushesinvestment-focusedpartnership

Aresults-drivenenergy partnershipfocusedon attractinginvestmentinto Nigeria'soilandgassector shouldanchortheproposed U.S.-NigeriaEnergy Summit,MinisterofState forPetroleumResources (Oil)HeinekenLokpobiri saidwhilereceivinga delegationfromtheUnited StatesDepartmentof EnergyinAbuja. Lokpobiriciteduntapped reservesindeepwaterfields andfrontierbasinsoutside

theNigerDeltaasmajor opportunitiesforglobal energyplayers,said ongoingreformsare designedtounlock investment,raiseproduction andstrengthenlong-term energysecurity,and stressedthatthesummit shouldmovebeyondpolicy discussiontoviableprojects capableofattracting immediateinvestment commitments.

(The Sun, June 3, 2026)

EkpoTargetsInvestors, HighlightsNigeria'sGas ReformsatGlobalEnergy Show

Taxincentives,fiscal reliefs,fasterapprovals andimproved commercial frameworksintroduced throughrecent

PresidentialExecutive Ordersaredesignedto raiseproject profitabilityandreduce investmentriskacross thegasvaluechain,

FGcommitstoAggeDeep SeaPortprojectcompletion

TheAggeDeepSeaPortin BayelsaStateremainsakey priorityundertheFederal Government'sagendato expandmaritime infrastructureanddeepen theblueeconomy,Minister ofMarineandBlue EconomyAdegboyega Oyetolasaidinastatement issuedinAbuja. Oyetolasaidtheportwould serveasamajormaritime gatewayintheSouth-South regionuponcompletion, improvingNigeria's competitivenessinregional

andinternationaltrade, reducingpressureon existingports,creatingjobs andunlockinginvestment acrosstheNigerDelta,in linewiththe administration'seconomic transformationstrategy

(The Guardian, June 5, 2026)

MinisterofStatefor PetroleumResources (Gas)EkperikpeEkpo toldinvestors,industry leadersand policymakersatthe 2026GlobalEnergy ShowinCalgary, Canada.

EkpocitedtheAKK andOB3pipelinesas evidenceof infrastructure commitment,and

namedtheWest African,Trans-Saharan, Africa-Atlanticand Nigeria-Equatorial Guineagaspipelines amongregionalprojects supportingNigeria's ambitionasa continentalgashub.

(Leadership, June 13, 2026)

Oildropsto$83after US-Iranaccord

Brentcrudefellfrom$87 perbarrelonSunday,June 14to$83perbarrelon Monday,June15following thesigningofaceasefire agreementbetweenthe UnitedStatesandIranto endhostilitiesandreopen theStraitofHormuz.AUS officialsaidthe memorandumof understandingwassigned byPresidentDonaldTrump, VicePresidentJDVance andIranianparliament speakerMohammadBagher Qalibaf.

Crudehadrisenfrombelow $70perbarrelafterthe conflictbeganonFebruary 28,tradingabove$100and atpointsbeyond$120per barrelduringmorethan threemonthsofhostilities, raisingfuelpricesglobally Thepartialreopeningofthe straitfedexpectationsof fuelpricereductionsshould thecrisisfullyde-escalate.

(Punch, June 16, 2026)

SEEPCOsuppliedsixmillion barrelsofNigeriancrudetoIndia amidHormuztensions

Aboutsixmillionbarrelsof Nigeriancrudeoilwere suppliedtoIndia'sstateownedrefiners,IndianOil Corporation,Bharat PetroleumCorporation LimitedandHindustan PetroleumCorporation Limited,betweenMarch andMaybySterling ExplorationandEnergy ProductionCompany, accordingtobusinessman NitinSandesara.

‘NigerianmarketersimportDangotefuelviaLomehub'

Refinedproducts originatingfromthe DangotePetroleum Refineryareincreasingly returningtoNigeria throughtheoffshore ship-to-shiptradinghub inLome,Togo,S&P

GlobalEnergyanalyst

MatthewTracey-Cook saidataMEMAN webinarthemed"West Africapricingandflows inthecontextofthe war."

Tracey-Cooksaidthe

circulartradepattern persistsevenasthe refineryraiseslocal productionandsupply, pointingtoapossible disparitybetweenlocal andinternationalpricing, andpresenteddata

Sandesarasaidthe shipmentsreachedIndia withouttransitingtheStrait ofHormuzduringthe periodofheightened tensionsaroundthe waterway,andthatthe timingshowedthevalueof maintainingoilproduction assetsoutsidetheGulf regionfordiversified supplyroutes.

(PM News, June 16, 2026)

showingamarkedshift insupplysourcesfor Nigeria,withDangote volumesonacoastal basisarrivingbackin LagosfromLome.

(Punch, June 19, 2026)

FGurgedtofixports,tradebottlenecksbefore$1bAfCFTAinvestment

Poorinfrastructure,high productioncosts, inadequatepowersupply, multipletaxation,foreign exchangeconstraints, excessiveportcharges andcumbersomeexport proceduresshouldbe resolvedbeforethe FederalGovernment

commits$1billiontothe AfricanContinentalFree TradeAreaCredit Facility,theAfrica Associationof ProfessionalFreight ForwardersandLogistics ofNigeriasaidina statementbyNational PresidentFrank

Ogunojemite.

Theassociationsaid Nigeria'sabilityto benefitfromAfCFTA dependsonthe competitivenessof domesticindustriesand theefficiencyoftrade facilitationsystems, warningthatmany

manufacturersandsmall businessesmaybeunable totakeadvantageof creditfacilitiesunder currentoperating conditions.

(The Guardian, June 19, 2026)

Dangoterefineryimportsfirst UAEcrudecargoes

Twocrudeoilcargoesfrom theUnitedArabEmirates havebeenpurchasedbythe DangotePetroleum Refinery,itsfirst procurementfromany MiddleEasternsupplier, accordingtoareportby S&PGlobalCommodity Insights.Thepurchases followedtheresumptionof MiddleEastoilexports aftertheUnitedStatesand Iranreachedaninterim peaceagreementthat restoredconfidencein

shippingthroughtheStrait ofHormuz.

Therefinery,designed primarilyforNigeria'slight sweetcrude,hasdiversified itscrudeslateasoperations rampup,whilean agreementwithNNPCLtd guaranteesbetween13and 15cargoesofNigerian crudemonthlyinnaira, reducingforeignexchange exposure.

(Punch, June 29, 2026)

Localrefineriesimport2m barrelsLibyancrudeamid domesticshortage

Abouttwomillionbarrels ofLibyancrude,averaging 64,500barrelsperday,were importedintoNigeriain May2026,thefirstrecorded NigerianimportofLibyan crudeinavailabledata datingbackto2013, accordingtofigures publishedbytheEnergy ResearchUnitandreported byLibyaReview

08 POLICY,REGULATIONANDGOVERNANCE

Reform outcomes, institutional coordination and environmental accountability

SUBSECTORINSIGHT

Theimportscameamid highexportsoflocally producedNigeriancrude, leavingdomesticrefineries toseekfeedstock elsewhere,withthe DangotePetroleum Refinerythemajorcrude importerintothecountry

(Punch, June 30, 2026)

Federation revenue of about N21 trillion in 2024, up from roughly N12 trillion in 2023 following fuel subsidy removal and foreign exchange reforms,headlinedthePresidency'saccountofenergyreformoutcomes,alongsidelocalpetrolproductionofabout48millionlitresperday,costreflectivetariffadoptionat45percentandanationalmeteringrateofabout57percent.Institutionalcoordinationfeaturedacrossthemonth:the SenateCommitteeonPetroleummovedtoresolvethejurisdictionalconflictbetweentheNMDPRAandOGFZA,whiletheEnergyCommissionof NigeriaandNERCopenedtalksonpolicyalignment.Environmentalaccountabilitypressurecontinued,withNigerDeltacommunitiesrenewing demands for an end to routine gas flaring during the Global Week of Action, extractive sector stakeholders convening on methane enforcement, andOgunStateattributingrecurringIjebu-OdegasemissionstonaturalgeologicalactivityalongtheIfewara-Zungerufaultline.

PTDFtrainsresearchers inComputationalCatalysis

Trainingin computationalcatalysis for35researchershas commencedundera PetroleumTechnology DevelopmentFund workshoporganisedin collaborationwith AhmaduBello University,Zaria,

themed"WhyIt Matters:Opportunities forResearch,Industry, andNational Developmentin Nigeria."

Thetrainingtargets homegrownsolutionsto industrialchallenges andreducedrelianceon

foreignexpertise.PTDF

ExecutiveSecretary Shu'aibuShehu-Aliyu, representedbyGeneral Manager,Educationand Training,RabiWaziri, saidtheworkshop equipsparticipantsto translatescientific researchintopractical

solutions,with computationalcatalysis nowanessentialtool forresearchinthe petroleum, petrochemicaland energysectors.

(The Guardian, June 1, 2026)

NigerDeltaCommunitiesDemand ImmediateEndtoGasFlaring,Warns ofGrowingEnvironmentalCrisis

Animmediateand permanentbanongas flaringwasdemandedby communitiesacrossthe NigerDeltaduring activitiesmarkingthe GlobalWeekofActionin PortHarcourt,where communityleaders, environmentaladvocates, youthgroupsandcivil societyorganisationsurged theFederalGovernmentto enforcestrictercompliance measuresagainstcompanies thatcontinuetoflare

associatedgas. Stakeholderssaidflaring contributestoairpollution, acidrain,declining agriculturalyields, contaminatedwatersources andincreasedhealthrisks forresidentsnearoil facilities,andcalledfor movementbeyondpolicy declarationsonending routineflaring.

(Petroleum Price, June 4, 2026)

EnergyCommissionOfNigeria VisitsNERC,SeeksEnhanced CollaborationOnEnergy DevelopmentInitiatives

Policyalignment, knowledgesharing andimplementationof initiativessupporting nationaldevelopment goalsframeda courtesyvisitbyan EnergyCommission ofNigeriadelegation, ledbyDirector GeneralMustapha Abdullahi,tothe NigerianElectricity Regulatory Commission.

Abdullahisaid sustained collaborationamong energysector

institutionssupports Nigeria'sbroader energyaccessand development objectives.NERC welcomedthevisit andreaffirmedits commitmentto workingwithECN andotherstakeholders oninitiativesthat improveenergy access,sector performanceand sustainablegrowth.

(Independent, June 17, 2026)

Katsinabansfuelsalesin jerrycans,motorcycles

Saleandtransportationof petroleumproductsin jerrycanshavebeenbanned inKatsinaStateunderfresh securitymeasures announcedbyGovernor DikkoRadda,alongsidethe closureofPointofSale businessesandcommercial phone-chargingpointsin MatazuandMusawaLocal GovernmentAreas. Thedirectiveswere containedinanExecutive Orderissuedafteran emergencysecuritymeeting

attendedbysecurity agencies,traditionalrulers andotherstakeholders,and aredesignedtocutoff logisticsand communicationchannels allegedlyexploitedby criminalelementsengaged inbanditryandkidnapping, accordingtoastatementby ChiefPressSecretary IbrahimMohammed.

(Punch, June 16, 2026)

Presidency:EnergyReforms RaiseFederationRevenueto₦21tn, AnchorGas-LedIndustrialisation

Totalfederationrevenue rosetoaboutN21trillionin 2024fromroughlyN12 trillionin2023following fuelsubsidyremovaland foreignexchangereforms, whilelocalpetrol productionincreasedfrom virtuallyzeroin2023to about48millionlitresper day,SpecialAdvisertothe PresidentonEnergy,Olu ArowoloVerheijen,saidat theNigerian-British ChamberofCommerce EnergyDay2026inLagos, themed"EnergyinNigeria: FromPotentialtoReality." Verheijensaidadoptionof cost-reflectiveelectricity tariffshasreached45per centandthenational meteringrateabout57per

cent,describedgasas Nigeria'sdevelopmentfuel, centraltopower,fertiliser, petrochemicals,clean cooking,CNGtransport, exportsandmanufacturing, andclarifiedthatbond instrumentsissuedto addresspowersectordebts clearonlyverifiedarrears torestoreliquidityand investorconfidence.

(The Nation, June 19, 2026 / ThisDay, June 21, 2026)

ESGsummittoadvance sustainablegrowthstrategies

Strategiesforembedding sustainabilityintobusiness andgovernancepractice willbethefocusofthe 2026NigeriaESG SustainabilitySummit, scheduledforJuly3atthe LagosOrientalHotelunder thetheme"Beyond Greening:Strategiesfora SustainableWorld," organisedbyESGImpact ConsultingLtd. Organiserssaidthesummit

willdriveESG mainstreamingincorporate organisations,financial institutionsandgovernment agencies,andmobilise sustainablefinancethrough greenbonds,carbon marketsandimpact investing,throughkeynote addresses,executive sessionsandnetworking engagements.

(Punch, June 19, 2026)

Stakeholdersseekstronger enforcement,approachtotrack gasflaring

Strongeraccountabilityand enforcementmechanisms onmethaneemissionswere demandedbyextractive sectorstakeholdersduringa webinarorganisedto amplifyFlaringLives,a documentaryonthehuman

costofmethaneemissions inoil-producing communities,co-produced byPolicyAlertandWeThe Peoplewithsupportfrom theNaturalResource GovernanceInstitute. NRGICountryManager

Senatepromisestoendconflict betweenpetroleumsectorregulatory agencies

Thejurisdictional regulatoryconflictbetween theNigeriaMidstreamand DownstreamPetroleum RegulatoryAuthorityand theOilandGasFreeZone Authoritywillberesolved throughpracticaland implementable recommendations,the SenateCommitteeon DownstreamPetroleum Sectorpledgedattheclose ofafive-dayretreatin Yenagoa,BayelsaState. CommitteeChairman AbdulrahmanSumailasaid

theretreatprovideda neutralplatformfor engagementonoverlapping statutorymandates,with objectivesincludinga practicalcoordination frameworkthatpromotes seamlessregulationwhile respectingthelawful mandatesofboth institutions,toward harmony,investor confidenceandenergy security.

(Punch, June 20, 2026)

TengiGeorge-Ikolisaid Nigeriafacesthechallenge ofbalancingitsgas expansionagendawith commitmentstoreduce methaneemissionsand eliminateroutineflaring, notingthatcommunities

OgunblamesIjebu-Odegasemissionon naturalgeologicalactivity,dismissesmyths

Recurringgasemissions inpartsofIjebu-Ode originatefromnatural undergroundgeological activityratherthan traditionalmyths,the OgunStateGovernment saidfollowingatown

hallmeetingwith stakeholdersatBisi RodipeHall,GRA, Ijebu-Ode. Commissionerfor EnvironmentOla Oresanyasaidscientific investigationsshowthe

emissionsconsist mainlyofmethaneand sulphidefrom undergroundgeological fracturesassociated withtheIfewaraZungerufaultline, whichstretchesfrom

nearoilandgasfacilities experiencetheeffectsdaily throughpoorairquality, healthchallengesand declininglivelihoods.

(Punch, June 24, 2026)

MojodathroughIjebuOdeintoOsunStateand extendstoZungeruin NigerState.

(Punch, June 28, 2026)

09 CORPORATENEWSANDAPPOINTMENTS

Leadership transitions,

results and corporate investment

SUBSECTORINSIGHT

Two landmark leadership transitions defined the month. Seplat Energy elected Tony Elumelu, whose Heirs Energies holds a 20.1 per cent stake acquired for about $500 million, as chairman effective January 1, 2027, and named Effiong Okon chief executive from August 1, 2026, succeeding the retiring Roger Brown. Shell appointed Elohor Aiboni as Executive Vice President and Country Chair, Nigeria, from August 1, 2026, the first Nigerian to hold the combined role, succeeding Marno de Jong after his 34-year career with the company Aradel Holdings reported profit after tax of N757.3 billion for 2025, up 192 per cent, with a total dividend of N33 per share delivering about N7.56 billion to founder Ladi Jadesimi's 5.27 per cent stake. Other movements included Pamela Nwocha's appointment as Managing Director of Eterna Industries, Ogochukwu Onyelucheya as Acting CEO of Ikeja Electric, Victor Ekpenyong joining the World Energy Council Nigeria Committee board,andDangote'splannedOlokolafreetradezoneinOndoState

PamelaNwochaappointed ManagingDirectorofEterna IndustriesLimited

PamelaNwochahasbeen appointedManaging DirectorofEterna IndustriesLimited,bringing over19yearsofexperience inNigeria'sdownstream energysectorspanning commercialandindustrial sales,customerrelationship management,operations, supplychaincoordination andstrategicbusiness development. Achemicalengineer, certifiedProject ManagementProfessional, CertifiedBusinessAnalysis ProfessionalandSixSigma

professionalwithan ExecutiveMBA,Nwocha beganhercareeratMobil OilNigeriabeforerolesat ForteOilPLCandArdova PLC,wheresheheld leadershiprolesincluding Manager,SalesSupport Services.Shemostrecently servedasHead, CommercialandIndustrial SalesatEternaPlc,leading salesoperations,revenue growthinitiativesandkey commercialprojects.

(Eterna, June 1, 2026)

Dangotemeets Aiyedatiwa,plans biggestfreetrade zoneinOndo

Alarge-scaleindustrial andfreetradezoneat OlokolainIlajeLocal GovernmentAreaof OndoState,covering powergeneration, cementproduction,gas infrastructureand industrial manufacturing,was

SeplatEnergyappointsElumelu aschairman,namesnewCEO

TonyElumelu,founderand chairmanofHeirsHoldings andchairmanofUnited BankforAfricaand TransnationalCorporation Plc,willbecomechairman ofSeplatEnergyonJanuary 1,2027,replacingUdoma UdoUdoma,whoretireson December31,2026,the dual-listedcompany disclosedinaregulatory filing.

Elumelujoinedtheboardin January2026afterHeirs Energiesacquiredthe20.1 percentstakepreviously heldbyMaurel&Prom S.A.inatransactionvalued around$500million.The

samefilingnamedEffiong Okon,mostrecently ManagingDirectorofthe ANOHGasProcessing Company,aschief executiveofficerfrom August1,2026,succeeding RogerBrown,whoretires onJuly31after13years withthecompany, includingsixasCEO.The boardsaidthesuccession plansupportsdeliveryof thecompany's2030plan anditsportfoliogrowth projects.

(Premium Times, June 9, 2026)

reaffirmedbyDangote GroupPresidentAliko Dangoteduringavisit toGovernorLucky AiyedatiwainAkure. Dangotedescribedthe projectasapowerdriveninvestmenthub fullyequippedwith power,waterand logisticsinfrastructure, enablinginvestorsto operatewithoutdelays

associatedwithbasic utilities.Hesaidthe initiativeaddressesthe powerdeficithecalled Nigeria'sbiggest industrialconstraintfor morethan30years, withmost manufacturerscurrently relyingonselfgeneratedelectricity

(Punch, June 15, 2026)

ShellAppointsElohorAiboniAs NigeriaCountryChairFirst

Nigerian ToHoldDualExecutiveRole

ElohorAibonihasbeen appointedExecutiveVice PresidentandCountry Chair,Nigeria,atShell, effectiveAugust1,2026, becomingthefirstNigerian toholdthecombined positionasMarnodeJong stepsdownaftera34-year careerwiththecompany Aiboni,currentlyAsset DirectoratBruneiShell Petroleum,ledShellNigeria ExplorationandProduction CompanyasManaging Directorfrom2021to2024, thefirstwomanintherole, duringwhichtheBonga

fieldproduceditsone billionthbarrelofoilin 2023.Shebringsmorethan 24yearsofShellexperience acrossNigeria'soffshore, shallow-waterandonshore assetsandinternational assignmentsinKazakhstan andBrunei,andwill overseeoperations, investmentsandstakeholder engagementinoneofthe company'smostsignificant upstreammarketsinAfrica.

(Business Standards, June 17, 2026)

SaharaGroupAdvancesEnergy JournalisminAfricawith$5000 Fellowship

Upto$5,000infunding, mentorshipandexpertledengagementwill supportenergy journalismacrossAfrica undertheAsharami SquareEnergy ReportingFellowship unveiledbySahara Group,anextensionof itsAsharamiSquare thoughtleadership platformnowinitsthird edition.

Guidedbythetheme "TellingAfrica'sEnergy Story.Shaping Solutions,"the fellowshipadvances

solutions-driven reportingon infrastructuregaps, financing,policytradeoffsandcommunity impact.Thisyear's AsharamiSquareevent, themed"Energising Africa'sEnergyFuture: Legacy,Impact,and Transformation,"holds onJuly22,2026in Lagos,bringingtogether industryleaders, policymakers,academia andthemedia.

(ThisDay, June 22, 2026)

LadiJadesimitoreceiveN7.5 billionAradeldividend

DividendsofaboutN7.56 billionwillaccruetoAradel HoldingsfounderLadi Jadesimifromthe company'sproposedtotal dividendofN33pershare forthe2025financialyear, throughhis5.27percent stakeheldviaBadagry CreekFZE,following Aradel'smostprofitable yearonrecord. Thecompanyreported profitaftertaxofN757.3 billion,up192percent,on revenuethatclimbed20per centtoN699.4billion,with acquisitionscompletedat theendof2025liftingtotal

assetstoN9.9trillion. Operationalresults includedrecordgas production,highercrude salesvolumes,improved refineryutilisationandover 10millionman-hours withoutalost-timeinjury Jadesimifoundedthe company,originallyNiger DeltaExplorationand Production,in1992;his stakecarriesamarketvalue ofaboutN155.7billionat currentprices.

(Billionaires.Africa, June 20, 2026)

NigeriaTakesItsSeatatWorld EnergyCouncilasEkpenyong JoinsWECBoard

KenyonInternational ChiefExecutiveOfficer VictorEkpenyonghas beenappointedtothe boardoftheWorld EnergyCouncilNigeria Committee,thefirsttime inthecurrentcyclethat Nigerianindigenous energyleadershipwill participatedirectlyinthe strategicgovernanceof theglobalenergy membership organisation,which spansmorethan100 countriesand3,000

memberentities.

Theappointment, confirmedbytheWEC FinanceCommittee, comesasthecouncil prioritisesenergy security,sustainability andjusttransition pathways,areaswhere Africantechnicaland commercialperspectives havehistoricallybeen underrepresentedin globalrule-setting.

(ThisDay, June 22, 2026)

IkejaElectricappointsnewActingCEO

OgochukwuOnyelucheya hasbeenappointedActing ChiefExecutiveOfficerof IkejaElectric,effectiveJuly 1,2026,followingthe transitionofFolakeSoetan toabroaderstrategicrole acrossSahara'spowerand

upstreambusinessesafter sixyearsleadingthe distributioncompany ChairmanKolaAdesina commendedSoetan'stenure since2020,duringwhich thecompanyrecorded improvementsin

operationalperformance andstrengthened stakeholderconfidence, withtheleadership transitionaimedat acceleratinggrowth, innovationandservice deliveryacrossthepower

sectorvaluechain, accordingtoastatement signedbyHeadof CorporateCommunications KingsleyOkotie.

(Punch, June 27, 2026)

NGSC 2026 IN PICTURES

NGSC 2026 IN PICTURES

NGSC 2026 IN PICTURES