JUNE 2026
Filtering the noise to deliver important energy sectorupdates
Measuring the Invisible
Energy Summaries is not a newspaper or tabloid, but a major voluntary communication project of Fleissen&Company,whichisdedicatedtoharnessinganddisseminatingvitalinformationaboutmajor developmentswithintheenergyindustryonamonthlybasis.
Thisperiodiccompilationispurelyforinformationandknowledgepurposes,anditscontentshouldnotin anywaybemistakenforfinancial,investmentortransactionadvice.
ProfessionalguidanceandexpertviewsMUSTalwaysbesoughtwhencommercialdecisionsorbusiness choicesaretobemade.
Fleissen&Companyisaleadingenergyinfrastructureadvisoryfirmthatdeliversintegratedtechnicalandstrategic solutionsacrosstheoilandgas,power,andbroaderenergysectors.Thefirmcombinesdeepengineeringexpertise withregulatoryinsighttosupportclientsinaddressingcomplexoperationalchallenges,enhancingsustainability,and unlockingvalueacrosstheenergyvaluechain.
Fleissen specialises in hydrocarbon measurement, gas utilisation, emissions accounting, and petrochemical downstreamopportunityassessments.ThecompanyispivotalinadvancingNigeria’senergytransitionbysupporting flare gas commercialisation, compressed natural gas (CNG) adoption, and greenhouse gas (GHG) reduction initiatives.
Inadditiontoitstechnicaladvisorywork,Fleissen&Companyhastwodedicatedsubsidiaries:FleissenEventsLtd, which leads its industry convenings, and Fleissen Energy Ltd, which focuses on project development and energy solutions. Through Fleissen Events Ltd, the firm is a recognised convener of high-impact industry dialogues, including the Nigeria Hydrocarbon Measurement Conference (NiHMEC) and the Gas Safety Conference (GSC), whichbringtogetherregulators,operators,andglobalexpertstodriveinnovation,policyalignment,andoperational excellenceintheenergysector
THETEAM
Project
INDUSTRYFORUM· GHGEMISSIONSMANAGEMENT
OilandgasoperatorsinNigeriahold 3rdAnnualOilandGasGHGEmissions ManagementForum
OilandgasoperatorsinNigeriaconvenedthe3rdAnnualOilandGasGHGEmissionsManagementForumonMay 19,2026attheJohnwoodHotelbyBoltoninWuse,Abuja,underthetheme"PracticalApproachestoMethaneand GHGManagement,MRV,EmissionsInventoriesandComplianceReadiness."Theevent,curatedandmanagedby Fleissen & Company, a leading energy infrastructure advisor, brought together 12 oil and gas companies, two government agencies, and two international organisations, including NNPC Limited, NLNG,Aradel Holdings, OandoEnergyResources,Chevron,FIRSTE&P,andGreenvilleLNG,alongsideNUPRC,theNationalCouncilon ClimateChange,andtheEuropeanUnionDelegationtoNigeriaandECOWAS.
GoodwillmessagesfromNNPC,NUPRC,theEUDelegation,andtheNationalCouncilonClimateChangeframed emissions management as a commercial and market-access requirement, not only a compliance obligation. Technicalsessionscoveredfacilityintelligence,NLNG'sGHGandenergytransitionapproach,Aradel'sintegrated facility and digital GHG management journey, and facility-based measurement, reporting, and verification, anchoredbytheFleissenBIMRAmodel:Baseline,Inventory,Measurement,Reduction,andAssurance.
Theproceedingsconvergedonashiftfromestimation-basedtomeasurement-basedMRV,withoperatorsurgedto build truthful emissions baselines and facility-level data systems. The 2027 Forum will track industry progress againsttheimplementationissuesraisedthisyear.
CuratedandmanagedbyFleissen&Company · Abuja · 19May2026
01 UPSTREAMEXPLORATIONANDPRODUCTION
SECTIONINSIGHT
UpstreamactivityinMaycentredoncontracting,licensing,andfieldexecution.SaudicontractorADESsecuredatwo-year,$92.7millionjackup contract from Seplat Energy, its third Nigerian award in roughly a year and a marker of rising offshore demand. NUPRC reported almost 300 applicantsforthe50blocksinthe2025licensinground,withCommissionChiefExecutiveOritsemeyewaEyesanpresentingtheframeworkatthe Offshore Technology Conference in Houston. Weatherford won a deepwater completions contract from ExxonMobil affiliate Esso Exploration andProductionNigeria,againstthebackdropoftheoperator'sproposed$24billioninstalleddeepwaterprojects.Indigenouscapacityfeatured prominently: Kenyon International deployed FlexSteel flexible pipeline on OML 123, and Renaissance Africa Energy set a 500,000 barrels per day production goal for 2030. Seplat unveiled a five-year plan targeting 200,000 bpd attributable and 500,000 bpd at joint venture level, alongside a $1 billion dividend commitment, following its integration of Mobil Producing Nigeria Unlimited. The throughline is investment appetiteanchoredonthePetroleumIndustryAct,withexecutioncapacityincreasinglydeliveredbyNigerianandregionalcontractors.
ADESlandsNigeriarig dealworth$93m
Saudidrillingcontractor
ADESHoldinghaswona contractfromSeplatEnergy forthejackupShelfDrilling Victory,deepeningits positioninoneofWest Africa'sbusiestoffshore markets.Theagreement coversafirmperiodoftwo yearswithtwooptional one-yearextensionsandis valuedataboutSAR347.6 million,equivalentto$92.7 millionforthefirmterm, inclusiveofmobilisation anddemobilisationfeesand theshareofthelocal partner.Operationsare expectedtobegininthe secondhalfof2026once therigcompletesitscurrent Nigeriancampaign,withincountrysupportdelivered throughadomesticpartner underlocalcontentrules. TheawardisADES'sthird inNigeriawithinabouta year,followingathree-rig contractwiththeDangoteownedWestAfrican ExplorationandProduction Company
(Splash 247, May 4, 2026)
KenyonInternational rewritesoffshorepipeline economicsinNigeriausing FlexSteeltechnology
KenyonInternational completedthefirst deploymentofFlexSteel unbondedflexible pipelinetechnologyin Nigeriaatthe Antan/Adanga
concessiononOML123, operatedbyNNPC AntanProducing Limited.Theproject installedeightkilometres ofpipeline,four kilometresforgasand
NUPRC:300FirmsJostling for50OilBlocksinOngoing LicensingRound
TheNigerianUpstream PetroleumRegulatory Commissionreportedthat nearly300localandforeign applicantswerecompeting forthe50blocksonofferin the2025licensinground. CommissionChief ExecutiveOritsemeyewa Eyesan,whoassumedoffice inDecember2025,gavethe figuresattheOffshore TechnologyConferencein Houston,Texas,attributing thelevelofinteresttothe PetroleumIndustryActand amorecompetitive regulatoryenvironment.
Speakingatthesameevent, PetroleumTechnology AssociationofNigeria ChairmanWoleOgunsanya saidNigeriawas approachingonemillion barrelsperdayofactive refiningcapacityandseta targetofthreemillion barrelsperdayofcrude outputwithinfiveyears. Eyesandescribedthe responseasevidenceof renewedconfidenceinthe upstreamsector
(ThisDayLive, May 5, 2026)
fourforoil,connecting theADRP1andADNH offshoreplatformsand restoringclient productioncapacity
Conventionaloffshore pipelineprojectsofthis typetypicallyrequire twotothreeyearsof marineweldingand logistics.Kenyon planned,mobilised,and commissionedthe FlexSteelsystemwithin
asubstantiallyshorter window,whichthe companyputataboutan 80percentcompression ofstandardtimelines. Theworkwaspresented asanexampleof indigenousexecution capacityappliedto offshoreasset rehabilitation.
(Tech Cabal, May 7, 2026)
Firmunveilshealthcareoutreachin Rivers,targets500,000bpdoiloutput
RenaissanceAfricaEnergy CompanyLimitedseta targetof500,000barrelsper dayofcrudeoilproduction by2030andoutlined expandedhealthcare investmentacrossitshost communitiesinRivers State.Thecompany disclosedtheplanatthe launchofitsfour-day VisionFirstPlushealthcare outreachintheB-Dere communityofGokana LocalGovernmentArea, whereresidentsreceived freeeyesurgeries,cancer
screening,dentalcare,and treatmentforchronic ailments.IgoWeli,Vice PresidentforRelationsand SustainableDevelopment, saidthecompany'sgrowth strategycombinedincreased energyproductionwith sustainedcommunity investment.Renaissance acquiredtheformerShell onshoreportfolioandhas positionedoutputgrowthas centraltoitsmedium-term plan.
(Punch, May 8, 2026)
ExxonMobilawardscompletions contractforworkoffshoreNigeria
Weatherfordhasbeen selectedbyExxonMobilfor adeepwatercompletions contractoffshoreNigeria, theoilfieldservices contractorsaid.Theaward, madethroughExxonMobil affiliateEssoExploration andProductionNigeria, coversintegratedupperand lowercompletionsworkon deepwaterwells.Terms werenotdisclosed. ExxonMobiloperatesfive deepwaterblocksinNigeria
Seplatunveils5yrstrategicplan, targets500,000bpdoutput,$1bn dividendspayment
SeplatEnergyrolledout afive-yeargrowthplan targeting500,000barrels perdayatjointventure leveland200,000bpd
attributabletothelegacy company,alongsidea$1 billiondividend commitmentto shareholders.Chairman
02 REFININGANDDOWNSTREAM
UdomaUdoUdomaset outthetargetsatapostAnnualGeneralMeeting briefinginLagos,linking themtotheintegrationof MobilProducingNigeria Unlimited,whichhesaid hadmorethandoubled production.Thecompany announceda25centsper sharepayoutaspartof thedividendpathway Udomasaidthe
throughitsaffiliatesand hasproposedtoinvest upwardof$24billionin twostalleddeepwater projectsinthecountry The contractaddstoaseriesof Weatherfordawardsduring themonth,includingwork inSouthAmerica,and pointstorenewedactivity onNigeria'sdeepwater acreage.
(Upstream Online, May 21, 2026)
integrationhadcreateda singleoperatingculture acrossthelegacyand Mobilteams,withthe companyaimingtotriple productionoverthe mediumtermwhile pursuinggrowthinits onshoregasbusiness.
(Vanguard, May 21, 2026)
The downstream story in May was the consolidation of domestic refining and the country's emergence as a product exporter, set against a sharp regulatoryandcommercialcontestoverimports.TheDangoterefineryranstablyatabout650,000barrelsperday,wastestedupto661,000bpd, andrecordeditshighestmonthlyexportvolumestodateastheconflictinvolvingtheUnitedStates,Israel,andIrandisruptedMiddleEastsupply and lifted demand for alternative sources. Nigeria exported about 17.8 million litres of diesel per day inApril and, per S&PGlobal, became the world's largest single exporter of aviation fuel, with the refinery advancing a $10 billion expansion toward 1.4 million bpd and plans to process up to 130 crude grades. At the same time, the NMDPRA issued fresh permits for 720,000 metric tonnes of petrol imports to six marketers, prompting a legal challenge from the refinery Crude feedstock remained the binding constraint: NUPRC data showed local refiners lifted 28.5 million barrels in the first quarter against 68.7 million offered, a gap attributed to pricing on a willing buyer, willing seller basis. NNPC also signedaChinesepartnershiptorevivethePortHarcourtandWarrirefineries.
SECTIONINSIGHT
NNPCsignsChinadealtorevive staterefineriesthatswallowed$2.4bn
NNPCLimitedsigneda Memorandumof Understandingwithtwo Chinesefirms,Sanjiang ChemicalCompanyLimited andXinganchen(Fuzhou) IndustrialParkOperation andManagementCo.Ltd, towardapotentialTechnical EquityPartnershipto completeandoperatethe PortHarcourtandWarri refineries.Theagreement wasexecutedinJiaxing City,China,onApril30by NNPCGroupChief ExecutiveBayoOjulari withthechairmenofthe
twocompanies,and announceddayslater.The frameworkcovers completionofoutstanding work,operationsand maintenance,andpossible expansionofpetrochemical capacity.Thetwoplants carryacombinedinstalled capacityofabout335,000 barrelsperday Aprior rehabilitationeffort,now beforetheEFCC,costclose to$3billion,with$2.4 billioncitedinconnection withtherefineries.
(BusinessDay, May 5, 2026)
DangoteRefineryReverses PetrolGantryPriceto ₦1,275/LitreAmid DropinOilPrices
DangoteRefinery reversedaplanned increaseinitspetrol gantryprice,restoring theex-depotrateto N1,275perlitreshortly afteranearlier adjustment.Market sourcessaidthe reversalcancelledthe plannedchangeand easedconcernsamong downstreammarketers whohadbegun repositioningfora higherpricingcycle. Thedecisionfolloweda fallinglobalcrude prices,withBrent
tradingnear$101.7per barrelandWestTexas Intermediatenear $94.11,bothdown sharplyatthetime. Industryoperatorssaid themovewasexpected tosteadytheshort-term marketastraders adjustedpositions.The gantryrateisthe loadingpricepaidby marketersandfeeds directlyintopump pricingacrossthe network.
(Petroleum Price, May 6, 2026)
Pricingstallstheofftakeof 40.2millionbarrelsofcrude bylocalrefiners
NUPRCdataonthe DomesticCrudeSupply Obligationshowedthat40.2 millionbarrelsofcrude madeavailabletolocal refinersinthefirstquarter of2026werenotlifted. Producersoffered68.7 millionbarrelsagainstan allocationof61.9million, butactualsupplyreached 28.5millionbarrels,a conversionrateof36to46 percent.TheCommission attributedthegaptopricing differencesbetween producersandrefiners
underawillingbuyer, willingsellerframework ratherthantovolume availability.Monthly deliverieswere9.2million barrelsinJanuary,9.1 millioninFebruary,and 10.1millioninMarch.The Commissionsaiditwould continueenforcingthe obligationunderthe PetroleumIndustryAct whilerefiningthesupply methodology
(The Guardian, May 6, 2026)
FGissuespetrolimport permitsfor720,000MTto sixmarketers
TheNMDPRAissued permitsfortheimportation of720,000metrictonnesof petroltosixmarketers: NIPCO,AARano,Matrix, Shafa,Pinnacle,andBono. Theallocationswere 150,000tonneseachtoAA RanoandMatrix,120,000 tonneseachtoNIPCO, Shafa,andPinnacle,and 60,000tonnestoBono. Theauthority,whichhad saidinthefirstquarterthat localrefiningcovered demand,statedthatithad notbannedimportsandthat acombinationofimported anddomesticsupplywould
ensurestability The DangoteGroupdisputed themove,notingthatits refinerysuppliesthebulkof nationalconsumption,and subsequentlyfiledasuit seekingtocancelthe licencesissuedtomarketers andNNPC.
(Petroleum Price, May 8, 2026; Punch, May 8, 2026)
Oilpricedrops,marketers keeppumppricehigh
Crudeoilprices,including Nigeria'sBonnyLight,fell toabout$98perbarrelamid expectationsthatthe conflictinvolvingthe UnitedStates,Israel,and Irancouldease.Pump pricesinNigeriastayed high,asmarketerswhohad raisedpricesearlierinthe weekfollowingarisein crudedidnotrevertto previouslevels.
Pricesbegandecliningafter theUnitedStatesindicated
effortstowinddownthe conflict,liftingsentiment acrosstheglobaloilmarket. Thelevelmarkedthelowest inaboutthreeweeks,after benchmarkshadranged between$110and$120at theheightoftensions.The episodeshowedthelag betweenfallingcrudecosts andretailpricing adjustments.
(Vanguard, May 8, 2026)
Producersofferlocal
refineries
58.8millionbarrelsofcrude
Oilproducersofferedabout 58.8millionbarrelsof crudetodomesticrefineries forthesecondquarterof 2026,exceedingthe55.1 millionbarrelsallocated undertheDomesticCrude SupplyObligationby3.7 millionbarrels.
NUPRCdisclosedthe figuresinitsreporton enforcementofthe obligation,framingtheoffer asastrongercommitment byupstreamcompaniesto localrefiningasdomestic processingcapacity
expands. Thevolumesreflectcrude madeavailabletolocal refinersunderthe frameworkintroducedto guaranteefeedstockto domesticplants. Thedatapointstorising producerwillingnessto supplythehomemarket relativetoearlierquarters, whenconversionof allocatedvolumesinto actualdeliveriesremained wellbelowtarget.
(Punch, May 10, 2026)
DangoteRefineryExports
88,000MTofJetFuelto NamibiaandLomé
TheDangoterefinery exported88,000metric tonnesofJetA1to NamibiaandLome throughtwoshipments loadedatitsLekki facility
ThevesselKritiRubby loaded44,000tonnesfor Namibia,charteredby Vitol,arrivingatberth onMay10anddueto departonMay11.A secondvessel,STI Magnetic,loaded44,000 tonnesforLome, charteredbyTrafigura,
withdeparture scheduledforMay12. Thecargoesaddedto therefinery'sgrowing roleasaregional supplierofaviationfuel atatimeoftightening globalsupply
Themovementsformed partofawiderrisein productexports recordedduringthe month.
(Petroleum Price, May 12, 2026)
TechnoOilTakesDeliveryof Fresh20,000MTPMSCargo FromDangoteRefinery
TechnoOiltook deliveryofa20,000 metrictonnecoastal cargoofpetrolfromthe Dangoterefinery,lifting productdirectlyasone ofabout20marketers approvedforrefinery offtake.Shippingdata showedthecoastal liftingwascompleted overtheweekend,with thevesselMatrixSIlu arrivingattheTechno OiljettyinKirikiri, Lagos,wheredischarge wasunderway.Market operatorssaidsustained coastalliftingsbymajor
marketerswere improvingproduct availabilityand smoothingdistribution acrossconsumption centres.
Thedeliverypositioned theTechnoOildepotas adistributionpoint withinthedomestic supplychainaslocally refinedvolumes increasinglydisplace imports.
(Petroleum Price, May 17, 2026)
NigeriaEmergesAfrica'sTop DieselExporterasDailyExport Hits17.8
MillionLitres
Nigeria'saveragedaily dieselexportsreached17.8 millionlitresinApril2026, accordingtoNMDPRA data,positioningthe countryasaleading exporterofautomotivegas oilonthecontinent.
Domesticrefineries producedanaverageof23.6 millionlitresofdieselper dayduringthemonth,of whichabout8.0million litreswenttothelocal market,leavingexportsas thelargestshareof
evacuationvolumes.The authoritysaidtheDangote refineryoperatedatfull capacityformostofApril, withaveragedomestic refineryutilisationreaching 99.12percent.
Thefiguresmarkashiftfor acountrythatdependedfor yearsonimportedproducts amidlimitedlocalrefining capacity.
(Petroleum Price, May 18, 2026)
DangoteRefineryEmergesWorld's BiggestJetFuelExporter,Setto Spend$10bnonExpansion
TheDangoterefinery becametheworld'slargest singleexporterofaviation fuelinApril,accordingto S&PGlobal,asittook advantageofsupply disruptionfromtheconflict intheMiddleEasttolift productexportsto internationalmarkets.The companyissettospenda further$10billiononan expansionthatwouldraise capacityto1.4million barrelsperday,equivalent
Dangoterefineryeyesglobaldominanceasitexpands crudeflexibilityto130grades
TheDangoterefinery planstoprocessupto 130crudegrades,up fromabout40currently, underamerchantrefining modelthatChief ExecutiveDavidBird comparedtotradinghubs inEuropeandAsia.Bird,
citedinanS&PGlobal report,saidgreater feedstockflexibilitywas centralto competitivenessina volatilemarket,withthe planned1.4million barrelsperdayexpansion drawingonheavier
03 NATURALGASDEVELOPMENT
gradesandresidues alongsideUSWTI Midland.Hereferenced the130gradesrunat Singapore'sPulau Bukomrefineryasa benchmark.Industry projectionstiedtothe $10billionexpansionput
toabout90percentof Nigeria'scrudeoutputand requiringnewcrude streamsfromAfrica,the MiddleEast,theUnited States,andotherregions. Therefineryreachedfull operationalcapacityin Februaryandshiftedintoa jet-fuel-maximisingmode asglobaldemandfornonMiddleEastsupplyrose.
(ThisDayLive, May 30, 2026)
operatingcostsbelow$2 perbarrel,whichwould placethecomplexamong thelowest-costlargescalerefineries worldwide.
(Business Insider Africa, May 31, 2026)
May reinforced that Nigeria's gas market is shaped by demand growth and infrastructure build-out rather than by output constraints. NLNG redirected100percentofitsLPGproductiontothedomesticmarket,ashiftitsmanagementattributedtoexpandingdemandratherthanreduced output,whilethe$5billionTrain7reached92percentcompletionandmovedintopre-commissioning,settoraisecapacityfrom22to30million tonnes per annum, about a 35 per cent increase. Domestic gas sales rose to 55,903.72 MMSCF in March from 52,300.45 MMSCF in February Cooking gas prices were warned to climb toward N1,500 per kilogram from about N1,300 as depot stocks tightened,again a functionof demand andlogisticsratherthansupplydecline.Industrialswitchingcontinued,withMTNNigeriaacceleratingamovefromdieseltogas.Infrastructure progressed on several fronts: a 22-kilometre subsea pipeline for the FIGSS development, and a 5,000 barrels per day gas-to-liquids plant in OgunStateconvertingabout55MMSCFDofgas.Thesedevelopmentstracktheestablisheddomesticgrowthdriversofpipelines,miniLNG,and gas-to-powerandgas-to-industryofftake.
SECTIONINSIGHT
NUPRC,NLNGpartnertoscale gasproductionamidstincreasein domesticdemand
NUPRCandNigeriaLNG Limitedformalisedadeeper partnershiptoscalegas productionasdomestic demandforliquefied petroleumgasandindustrial feedstockrose.Commission ChiefExecutive OritsemeyewaEyesan receivedNLNGManaging DirectorAdeleyeFaladeon acourtesyvisitand reaffirmedtheregulator's commitmenttoabusinessfriendlyenvironmentunder thePetroleumIndustryAct. FaladesaidNLNGhad dedicated100percentofits
LPGproductiontothe domesticmarket,attributing theshifttosignificantly increaseddemandrather thanreducedoutput.He addedthatTrain7,expected onstreamnextyear,would raisethecompany's capacitybyabout35per cent,supportingboth domesticsupplyandexport volumes.Eyesandescribed theDecadeofGasasa practicalframeworkfor expandingdomestic utilisation.
(BusinessDay, May 3, 2026)
LPGpricetohitN1,500/kgas depotstocksdryup
Operatorswarnedthat theretailpriceof liquefiedpetroleumgas couldrisetoN1,500per kilogramfroman averageofabout N1,300asdepotstocks tightenedanddomestic demandincreased. Checksshowedthat onlytheDangote refinery,ArdovaPlc, andNavgasheld commercialvolumes forsale,withdepot pricesofN1,060, N1,065,andN1,085per kilogramrespectively.
Petroleumpricechief executiveOlatide
Jeremiahlinkedthe pressuretorising demandasmore householdsand businessesswitchedto cookinggas, particularlyinLagos. NUPRCdatashowed domesticgassalesrose to55,903.72MMSCF inMarchfrom 52,300.45MMSCFin February,indicating greatersupplytopower plantsandindustrial usersevenasretail pressurebuilt.
(Vanguard, May 13, 2026)
Dieselat₦2,000/Lthreatens ₦140bnmarginhitasMTN Nigeriaracestogas
DieselpricesnearN2,000 perlitrethreatenedto removeanestimatedN140 billionfromMTNNigeria's margins,equivalenttoa declineofabout2.0 percentagepointsinfullyearEBITDAmarginif dieselaveragesthatlevelin thesecondhalfof2026,the companysaidinitsfirstquarterresults. MTNis acceleratingashifttoward gasandsolar-hybridpower foritsnetwork,withcapital expenditurerising92.8per centyearonyeartoN390.3
billion.Dieselaccounted for58.11percentofthe company's2025energy mix,against23.63percent forgas-firedsources.The companyreportedN8.1 billioninsavingsfrom increasedgasusein2025. Gassupplyconstraints, withseveralpowerplants idleorbelowcapacityin early2026,remaina limitingfactoronthe switch.
(BusinessDay, May 4, 2026)
GreenvilleLNGCommissions KanoGalaxyStation,Expanding Nigeria'sCleanEnergyAccess
GreenvilleLNG inauguratedtheKano GalaxyStation,extending itsliquefiednaturalgas distributionfootprintin northernNigeria.The commissioningwas attendedbytheChiefof StafftotheVicePresident, representingtheVice President,theGovernorof KanoState,andthe Chairmanofthe PresidentialInitiativeon CompressedNaturalGas, IsmaeelAhmed.
Greenville'sleadershipat theeventincluded ExecutiveDirector
OyadoyinJoseph, alongsidevicepresidents forstrategyandoperations. Thecompanysaidthe stationadvancedits missiontowidenenergy accessbybringingliquefied naturalgascloserto industriesandcommunities intheNorth.The commissioningcoincided withthelaunchofthe northerncorridorofthe federalCNGandelectric vehicleprogrammein Kano.
(LinkedIn, May 14, 2026)
Nigerian22-kilometergaspipeline tobeinstalledbyEmiratifirm
AbuDhabi-headquartered MCSGroupwasappointed toinstallasubseapipeline fortheFIRSTIntegrated GasSupplySystem development,partofFIRST ExplorationandPetroleum DevelopmentCompany's offshoregasinfrastructure programmewithinPML53 andPML54intheNiger Delta.
Theproject'sEPCIC contractor,Marine PlatformsLimited,selected MCSGroupforthework. Thescopecoversa22kilometre,10-inchsubsea
pipelineinstalledusingthe NOVTuboscopeZap-Lok mechanicalconnectionand theModularPipelaySystem deployedfromaDP3 constructionvessel.
Projectmanagementand engineeringwillbesplit betweenMCSGroup's CairoofficeandMarine Platforms'Lagosoffice, combiningregionaland indigenousexecutionon domesticgasinfrastructure.
(Offshore Energy, May 20, 2026)
Tetracoresignsdeal tobuildgasplantinOgun
TetracoreGTLLimited,a subsidiaryofTetracore EnergyGroup,signeda Memorandumof UnderstandingwithUKbasedVelocys Technologiestodevelopa modulargas-to-liquids facilityatAtakoboinOgun
State.Theplantisplanned for5,000barrelsperday andwillconvertabout55 MMSCFDofnaturalgas intocleanerliquidfuels includingdiesel,Jet-A1, andnaphtha.Underthe agreement,Velocyswill provideFischer-Tropsch
$5bnNLNGTrain7Hits92% Completion,Nears
Pre-commissioningasLocal CapacityGrows
The$5billionNigeriaLNG Train7projectreached92 percentcompletionand advancedintosystems completionandprecommissioning.Once operational,Train7will raiseNLNG'scapacityfrom 22to30milliontonnesper annum,anincreaseofabout 35percent.
ProjectDirectorAliUwais, representingManaging DirectorAdeleyeFaladeat theNigerianOilandGas MidstreamandDownstream SummitinLagos,said front-endengineeringbegan
in2018andtheFinal InvestmentDecisionwas takeninDecember2019by shareholdersNNPC,Shell, TotalEnergies,andEni. TheNigerianContent Developmentand MonitoringBoardsaid upstreamoperating companieshadrisenfrom fewerthan10to117,and servicefirmsto11,764, sincethe2010localcontent Act.
(ThisDayLive, May 21, 2026)
technologylicensing, processdesign, engineeringservices, catalystsystems,and technicaladvisorysupport.
TetracoreGroupChief ExecutiveOlakunle Williamsdescribedthe projectaspartofabroader
gasmonetisationand industrialisationstrategy, positioninggas-to-liquids asaroutetodomesticfuel supplyandreduced relianceonimported products.
(Punch, May 22, 2026)
SECTIONINSIGHT
Power developments in May combined a leadership change, liquidity measures, and incremental capacity gains against persistent transmission and gas constraints. Joseph Olasunkanmi Tegbe was confirmed as Minister of Power and pledged measurable improvement within three to six months,withinstalledgenerationabove13,000MWbutactualsupplyrarelyexceeding4,500MWbecauseofweaktransmissionanddistribution. On liquidity, the Federal Government began settling part of about N6.8 trillion in legacy debts owed to generation companies and gas suppliers under a N3.3 trillion plan. Capacity additions included 600MW evacuated through new 330kV lines in Edo and the restoration of the 450MW Alaojiplantaftergassupplywasrestored,whileNDPHCofferedupto1,500MWtotheLagosmarketfromstrandedassets.Meteringprogressed modestly, with 241,590 meters installed across January and February and the national metering rate at 58.57 per cent, and EEDC deployed a new integrated billing platform. The Federal Government and World Bank cancelled $717.7 million in undisbursed financing under a power recovery programme, which the Bank linked to tariff shortfalls and currency movements. The binding limits remain infrastructure and liquidity ratherthaninstalledgeneration.
RepsOrder11DiscosToRefund N55.4bnOverFailedMetering Programme
TheHouseof Representativesdirected11 electricitydistribution companiestorefundN55.42 billionobtainedasloans undertheNationalMass MeteringProgramme,citing non-complianceandweak performance. Theaffectedcompanies includeAbuja,Eko,Enugu, Ibadan,Ikeja,Jos,Kano, andYola.
Adoptingareportbyits CommitteeonPublic Assets,theHouseseta seven-monthwindowfor repaymenttotheCentral
BankofNigeria.Committee chairmanUchenna OkonkwosaidN59.28 billionwasearmarkedand N55.42billiondisbursed, leavingN3.85billion unaccountedfor,andthat the2020programmehad notmetitstargets.The Houseapprovedaloan recoverycommittee involvingtheCentralBank andtheNigerianElectricity RegulatoryCommission.
(DailyTrust, May 1, 2026)
Dangoteeyes20,000MWpower, defendsrefineryinvestment
AlikoDangotedisclosed planstoexpandinto 20,000megawattsof powergenerationand defendedhisrefinery investmentofmorethan $20billionasproofthat large-scaleindustrial projectsareachievable onthecontinent.
Speakingina conversationhostedby InternationalFinance CorporationManaging DirectorMakhtarDiop, hesaidtherefineryhad beentestedupto 661,000barrelsperday andhadrunstablyat
650,000bpdfortwo months.Heframedthe powerplanalongsidea deep-seaportandLNG asresponsestoAfrica's infrastructuregaps, notingthatreliable electricityiscentralto industrialisation.Hedid notspecifythelocation ortimelineforthepower plants,citingstrong groupcashflowasthe basisforfurther fundraising.
(Punch, May 7, 2026)
Holdmeresponsibleifthegrid collapsecontinues,Powerminister
JosephOlasunkanmiTegbe, confirmedbytheSenateas MinisterofPower,said Nigeriansshouldholdhim accountableifrecurring nationalgridcollapsesand unstablesupplycontinued, pledgingurgentreforms. Theconfirmation,presided overbySenatePresident GodswillAkpabio,followed screeningfocusedongrid failures,weaktransmission, andadeepliquiditycrisis. LawmakersgaveTegbea mandatetodeliver measurableimprovement withinmonths.Tegbesaid
thecrisisextendedbeyond technicalfailuresto governance,capitalisation, gassupply,andcommercial inefficiency,andpledgedto stabilisethegrid, moderniseinfrastructure, andenforceaccountability acrossthevaluechain.He succeedsAdebayoAdelabu, whoresignedtopursue electiveoffice,and expressedconfidencein visibleprogresswithin threetosixmonths.
(Punch, May 6, 2026)
Saharapushesdigitalgridto endpowercrisis
SaharaPowerGroup advocatedtheadoption ofadigitalelectricity gridasaroutetomore reliablesupply, describingitasthe fastestandmost sustainablepathwayto stablepowernationwide.
GroupManaging DirectorKolaAdesina, inremarksdeliveredon hisbehalfattheIoT WestAfricaConference inLagos,saidsupply gapspersisteddespite significantgeneration capacitybecauseof limitedgridvisibility,
insufficientreal-time data,andweaksystem intelligence.Hesaida digitalgridwould introducereal-time awareness,automation, andpredictive intelligenceinto electricitynetworks.The interventionpointedto gridmonitoringanddata asprioritiesfor improvingthe evacuationand managementof generatedpoweracross thecountry
(Punch, May 7, 2026)
FGbeginspaymentofpowersectorlegacydebts
TranscorpPlcconfirmed thattheFederal Governmenthadbegun settlingpartofthelongstandingdebtsowedto electricitygeneration companies.Presidentand GroupChiefExecutive OwenOmogiafosaidatthe
company'sAnnualGeneral MeetinginAbujathat settlementreconciliation agreementshadbeensigned forTranscorpPowerand TransafamPower,with paymenttoTransafam alreadyunderway.Nigeria's cumulativelegacydebtsto
generationcompaniesand gassuppliersstoodatabout N6.8trillionasofMarch 2026,accumulatedlargely between2015and2025. PresidentTinubuearlier approvedaN3.3trillion settlementplan,under which15powerplants
signedagreementsworth N2.3trillion,withN501 billionraisedandN223 billiondisbursed.
(The Nation, May 8, 026)
LASGexpandsruralelectrificationwithnewtransformers
TheLagosState Governmentexpanded itsruralelectrification programmewiththe installationofnew electricitytransformers acrossunderserved communities.The installations,delivered throughtheOfficeof
RuralDevelopment, reachedcommunitiesin Epe,Badagry,Ikorodu, Iba,Igando,andother areassince2024.Special AdvisertotheGovernor onRuralDevelopment NurudeenAgbajesaid theprogrammewas designedtoaddress
TCNadds600MWtothe nationalgrid
TheTransmissionCompany ofNigeriaadded600 megawattsofevacuation capacitytothenationalgrid followingthe commissioningofthe Ihovbor/Beninand Ihovbor/Ajaokuta330kV Turn-InTurn-Out transmissionlineprojectin EdoState.Managing DirectorSuleAbdulaziz saidtheprojectlinkedthe existingBenin/Ajaokuta linetotheIhovbor substation,creatingtwo
newroutestotalling14 kilometresandenabling morebulkelectricitytobe wheeledtoloadcentres nationwide.Thework strengthenstheevacuation ofpowerfromtheBenin axis,includingoutputfrom theAzuraandNDPHC plants.Transmission bottleneckshavebeena recurringlimitondelivering generatedpowerto consumers.
(Punch, May 15, 2026)
long-standingelectricity challengesinruraland semi-urbancommunities, wherestablesupply underpinseconomic activity,healthcare, education,andsecurity Theinitiativeispartof sub-nationalinvolvement inclosingaccessgaps
alongsidethenational grid,withstate governments increasinglyfunding distribution-level infrastructureintheir owncommunities.
(Punch, May 12, 2026)
Adighije:NDPHCReadytoOperatein LagosPowerMarket,Supply1,500MW
NigerDeltaPowerHolding CompanyManaging DirectorJenniferAdighije saidthecompanywasready tosupplyasmuchas 1,500MWtotheLagos Stateelectricitymarket. Speakingduringavisitto theLagosStateElectricity RegulatoryCommission, shesaidNDPHCheldabout 2,000MWofstrandedassets andwaspositionedtohelp closethesupplygap.Lagos receivesabout1,000MW fromthenationalgrid
againstestimateddemand of12,000MW.Adighije saidthecompany'smandate spannedgeneration, transmission,and distributioninfrastructure, andthatitwaswillingto bridgetheshort-termgap andinvestinthestate's powerinfrastructure, describingtheLagos marketascommercially attractive.
(ThisDayLive, May 18, 2026)
DisCosinstall241,590meters amidbillingcomplaints
Electricitydistribution companiesinstalled 241,590metersacross Nigeriainthefirsttwo monthsof2026asefforts continuedtoreduce estimatedbillingandclose themeteringgap.Nigerian ElectricityRegulatory Commissiondatashowed 119,792customersmetered inJanuaryand121,798in February,raisingthetotal meteredto7,208,174from 7,086,376.Thenational meteringratemovedfrom
57.93percentto58.57per cent,withactivecustomers risingto12,307,314. Northerncompanies recordedthelowest penetration:Josat34.04per centandKanoat35.37per centinFebruary,whileEko andIkejaledabove87per cent.Stakeholderslinked thepacetofinancing constraintsandmeter procurementcosts.
(Punch, May 22, 2026)
TCNStrengthen PowerSupplyforAbuja, Adds300MVATransformer atKatampe
TheTransmission CompanyofNigeria addeda300MVA transformeratits Katampesubstationin theAbujaregionto strengthensupplyto thefederalcapital. GeneralManagerfor Transmissioninthe AbujaRegion,Musa Shuaibu,saidatthe commissioningthatthe additionalcapacity wouldsupport increasedpower delivery,improvegrid stability,andenhance supplytokeyload centres.Theproject
wasexecutedundera collaborationbetween thecompanyandthe WorldBankaimedat rehabilitatingand upgradingtransmission infrastructure.The upgradeaddresses constraintswithinthe transmissionsegment thathavelimitedthe evacuationof generatedelectricity, partofabroaderpush toexpandthenetwork tomeetgrowing demand.
(Leadership, May 25, 2026)
EEDCcompletesbillingsystem integration,goeslivewithSuperEdge
EnuguElectricity DistributionCompany completedanddeployedan integratedbillingsystem namedSuperEdge,designed tosupportprepaidvending, postpaidbilling,collections, andmeterdata management.Thecompany saidcustomersofits subsidiaries,MainPower, TransPower,FirstPower, EastLand,andNewEra, wouldbenefitfromselfservicefeatures,including authenticatingpayment receiptsbyscanningaQR code,generatingprior
receipts,andpayingvia SMScodeorbanktransfer HeadofCorporate CommunicationsEmeka Ezehsaidtheplatform formedpartofeffortsto improveoperational efficiencyandcustomer service.
Thecompanyaddedthat electronicbilling, deliveringmonthlybillsby emailormobile,was scheduledtobegininJune 2026.
(The Guardian, May 22, 2026)
FGcancels$717mW'Bank powerloanamidblackouts
TheFederalGovernment cancelled$717.7millionin undisbursedfinancingunder theWorldBank-supported PowerSectorRecovery Performance-Based Operation,followinga formalgovernmentrequest inMarch2026.The programme'sclosingdate wasadvancedfromJune30, 2027toMay31,2026, endingtheoperationmore thanayearearly The originalprogrammewas approvedinJune2020with about$752.5million,with additionalfinancingof about$763.5million approvedinJune2023.The WorldBankattributedthe
limiteddisbursementto tariffshortfalls,thenaira depreciationfollowing exchange-rate liberalisation,andunmet reformmilestones.Nigeria remainedthethird-largest borrowerfromtheBank's concessionallendingarmin thefirstquarterof2026.
(Punch, May 26, 2026)
ELECTRICITY:NDPHC restores450MWAlaojiplant
TheNigerDeltaPower HoldingCompany restoredthe450MW AlaojiOpenCyclePower PlantinAbiaStateaftera shutdownthatbeganin 2023overgassupplyand meteringdisputes.
ManagingDirector JenniferAdighije disclosedtherestoration duringameetingwith AbiaStateGovernorAlex Otti,sayingremedial workonthedefectivegas linehadbeencompleted andthatoutstanding obligationsto
TotalEnergieshadbeen cleared,promptingthe restorationofgassupply Threegeneratingunitsare availabletodispatch following electromechanicalwork. Ottisaidtheplantcould laterbeexpandedto 800MWandultimately about1,100MW,subject tofunding,describing reliableelectricityas centraltothestate's industrialdevelopment.
(Vanguard, May 26, 2026)
TetracoreEnergyCommences PowerGeneration,Distributionfrom AtakoboIndependentPowerSystem
TetracoreEnergy commencedpower generationanddistribution fromtheAtakobo IndependentPowerSystem inOgunState,markingthe startofoperationsatthe firstphaseofits100MW gas-firedindependentpower plant.Thedevelopment extendsthecompany's footprintacrossthegas-topowervaluechainand complementsitsbroader gasmonetisationstrategy, includingaplannedgas-toliquidsfacilityatthesame
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Atakobosite.The independentpowermodel supplieselectricitydirectly toofftakers,anapproach gainingtractionwheregrid reliabilityremains inconsistent.Theproject followedTetracore'srecent movetosecuregeneration anddistributionlicencesin NasarawaState,signalling amulti-stateexpansionin distributedgas-fired generation.
(ThisDayLive, May 27, 2026)
Clean-energy finance in May moved toward blended and concessional structures aimed at distributed solar and at the credibility of carbon markets. The International Finance Corporation and Norfund committed up to $83.2 million, including concessional debt, to five renewable energy service companies to build 315 solar hybrid minigrids, with total project cost of about $271 million and a target of 494,189 new connections.Aseparate$188millionGreenFinanceInvestmentFacility,ledbyBartonHeymanwiththeRuralElectrificationAgency,UKPACT, FCMB, and ARMHIIL, targeted 191MW of distributed solar under the DARES programme. On carbon, Nigeria positioned its clean cooking programme to attract as much as $3 billion a year in climate finance over the coming decade, tightening oversight through the National Council on Climate Change and the Carbon MarketActivation Policy to address verification and double-counting concerns. The common thread is that off-grid solar and clean cooking are being financed as commercial propositions backed by results-based and concessional capital, with more than85millionNigeriansstillwithoutelectricitydefiningthescaleoftheopportunity
IFC,Norfundback315solarhybridminigridsinNigeria
TheInternational FinanceCorporationand Norway'sNorfund committedacombined financingpackageofup to$83.2milliontoscale off-gridanddistributed energyinNigeria.The fundingsupportsfive renewableenergyservice
companies,Darway Coast,GVEProjects, PradoPower,PriVida Power,andStarTimes Energy,indeploying315 solarhybridminigrid sitesexpectedto facilitate494,189new connections.The packageincludes$35.3
millionofconcessional debt,withtotalproject capitalexpenditure estimatedat$271million andabout2.9million peopletargetedfor connection.IFC estimatedthatmorethan 85millionNigerianslive withoutelectricity The
AfricaSolarIndustry Associationhas identifiedover4.8GWof operationalsolarin Nigeria,ofwhich 115MWcomesfrom minigrids.
(PV Magazine, May 4, 2026)
Nigeriatargets$3bnclimate financeviacleancookingpush
Nigeriapositionedits cleancooking programmeasacentral pillarofitsclimate strategy,targetingas muchas$3billiona yearinclimatefinance overthenextdecade whiletightening oversightofcarbon projects.Thepush comesamidrenewed scrutinyofvoluntary carbonmarketsover verificationstandards, transparency,and doublecounting. Nigeriahasbuilta carbonmarket architectureunderits
NationalCarbonMarket ActivationPolicy,with theNationalCouncilon ClimateChangeserving astheapproving authorityandissuing LettersofAuthorisation thatallowemissions reductionstobecounted underArticle6ofthe ParisAgreement.The 2024policyprovides thelegaland institutionalframework forissuingandtrading credits,withclean cookingplacedatthe centreofthestrategy.
(Punch, May 6, 2026)
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FCMB,partnerspool$188m toexpandrenewableenergy accessinNigeria
TheGreenFinance InvestmentFacility,a blendedfinanceplatformto mobiliseprivateand institutionalinvestmentin distributedrenewable energy,launchedinLagos withatargetof$188 milliontofinance191 megawattsofdistributed solarcapacity Thefacility isledbyBartonHeyman Limitedinpartnershipwith theRuralElectrification Agency,UKPACT,First CityMonumentBank,and ARMHarithInfrastructure InvestmentLimited,and supportstheDistributed
AccessthroughRenewable EnergyScale-Up programme.Barton HeymanManagingPartner OlumideLaladescribedit asamarket-drivenmodel forunlockingprivate capitalatscale.FCMBsaid ithadcommittedN100 billionindebtfinancingfor DARESandwasfunding multipleminigrid developersundera performance-basedgrant programme.
(The Sun, May 13, 2026)
CleanmobilitymovedfrompolicytophysicalrolloutinMay,withcompressednaturalgasandelectricvehiclesadvancingtogetheracrossLagos andtheNorth.PresidentTinubucommissionedfourCNGprojectsundertheMidstreamandDownstreamGasInfrastructureFund,includingthe Portland Gas mother station at Ojota and the flagship IBILE station anchoring 15 refuelling sites across Lagos. Vice President Shettima launched 222 CNG and electric vehicles in Kano, spanning buses, tricycles, and electric units, while the Presidential Initiative set a target of 2,322CNGstationsby2027,notingthatCNGisnowcommerciallyavailablein24of36statesagainstroughlyoneatinception.Privatecapitalis following the policy: an electric mobility company opened a high-capacity charging hub in Abuja, LOTUS Bank committed to financing across the CNG value chain, and CNG retrofitting was integrated into the National Youth Service Corps skills programme. The import duty waiver on electric vehicles and mass transit buses continues to draw investment into charging infrastructure and conversion. The constraint is build-out paceandstationdensityratherthandemandorpolicydirection.
Firmunveils
1,000-capacityelectricvehiclecharginghub
Anelectricmobility companyopenedwhatit describedasAfrica'slargest electricvehiclecharging hubinAbuja,withcapacity tochargemorethan1,000 electricvehiclesaday,as policycontinuedtodraw privateinvestmentinto
cleantransport.The companysaidthefacility, nearingfulloperation, wouldsupportelectric busesandcommercialfleets andstrengthenNigeria's positioninthecontinent's emergingelectricmobility sector.Thedevelopment
followstheremovalof importdutiesonelectric vehiclesandmasstransit buses,whichindustry stakeholderssaidhad improvedaffordabilityand encouragedinvestmentin charginginfrastructure.The operatorrunsanintegrated
modelcombiningvehicle financing,charging infrastructure,andfleet maintenancetoeasethe transitionfortransport operators.
(Punch, May 8, 2026)
FGintegratesCNGtraining intotheNYSCscheme
TheFederalGovernment signedaMemorandumof Understandingtointegrate compressednaturalgas retrofittingtrainingintothe NationalYouthService CorpsSkillAcquisitionand Entrepreneurship Developmentprogramme. Theinitiative,drivenbythe OfficeoftheSpecial AssistanttothePresidenton YouthInitiativeswiththe NationalAutomotive DesignandDevelopment Council,theNYSC,the FederalMinistryofYouth Development,andthe PresidentialCNGInitiative, willequipcorpsmembers
withskillsinCNGvehicle conversion,maintenance, andsafety.SpecialAssistant TitilopeGbadamosi describeditasastrategic interventiontoposition youngNigerianswithinthe greeneconomyandcreate employmentand entrepreneurship opportunitiesinthe alternativeenergy ecosystem,inlinewith youthempowermentand diversificationgoals.
(Punch, May 11, 2026)
LOTUSBankPartners withFGonCNG&EVGreen
MobilityInitiative
LOTUSBankentereda collaborationwiththe PresidentialInitiativeon CNGandElectricVehicles atthelaunchofthenorthern corridoroftheprogramme inKanoState.Theinitiative isdesignedtoaccelerate adoptionofcleanerand moreaffordablemobility throughexpandedCNGand EVinfrastructure nationwide.DeputyChief ofStafftothePresident IbrahimHadejia, representingVicePresident Shettima,describeditasan economicstrategytoreduce transportcostsand
strengthenenergysecurity. Undertheframework, LOTUSBankissupporting financingsolutionsacross theCNGvaluechain, includingintegratedenergy hubs,cleanmobilityasset acquisition,fleet conversion,and infrastructurefinancing. ManagingDirectorIsiaka Ajani-Lawalsaidthenoninterestbankremained committedtosustainable initiativeswithlong-term economicimpact.
(ThisDayLive, May 18, 2026)
Shettimalaunches222CNG, electricvehiclesinKanotocut transportcosts
VicePresidentKashim Shettimalaunched222 compressednaturalgas andelectricvehiclesin Kanotolowertransport costsandwidenclean energyuseacross northernNigeria.The rolloutattheSani AbachaStadiumIndoor SportsHallincluded15 buses,10CNG-powered andfivebi-fuel,seven electricvehicles,and 200CNGtricycles underthePresidential Initiativeon CompressedNatural GasandElectric Vehicles.DeputyChief
ofStaffIbrahimHassan Hadejia,representing Shettima,saidrising transportcostsraised foodpricesandthat Nigeria'sgasreservesof morethan200trillion cubicfeetshouldreduce relianceoncostlier fuels.Henotedthat GreenvilleLNG,AY Shafa,NIPCO,AA Rano,andRolling Energyareinvestingin gasinfrastructureacross theNorth.
(The Nation, May 14, 2026)
FGtargets2,322CNG stationsby2027
TheFederalGovernment setatargetof2,322 compressednaturalgas stationsnationwideby2027 todeepenadoptionof alternative-fuelvehiclesand expandgasmobility infrastructure.Ismaeel Ahmed,Executive Chairmanofthe PresidentialInitiativeon CompressedNaturalGas andElectricVehicles, disclosedthetargetatthe NigerianOilandGas MidstreamandDownstream SummitinLagos,
representedbyagency officialOlayinkaRufai.He saidtheprogrammehad madeprogressin expandingCNG infrastructureandvehicle conversioninunderthree years,withCNGnow commerciallyavailablein 24ofthe36states,against aboutonestateatinception. Thetargetpointstostation densityasthenextphaseof thegasmobilitybuild-out.
(Punch, May 23, 2026)
Tinubucommissions4MDGIF-supportedCNGprojects
PresidentBolaTinubu commissionedfour compressednaturalgas infrastructureprojects acrossLagosandAbuja, deliveredunderthe MidstreamandDownstream GasInfrastructureFund,as partoftheresponseto
petroleumsubsidyreform andthepushtoexpand domesticgasuse.AtOjota, Lagos,thePresidentflagged offthePortlandGasCNG motherstation,withadaily dispensingcapacityof 96,000standardcubic metres,twoskidtrucks,a
54-metric-tonneliquefied CNGstoragefacility,anda daughterstationatKubwa, Abuja.AlsoatOjota,he commissionedtheIBILE OilandGasCorporation refuellingstation,the flagshipofa15-station networkbeingrolledout
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acrossLagostoprovidean affordablealternativeto petrolandlowertransport costs.
(Vanguard, May 29, 2026)
International developments in May were dominated by a reordering of oil-market alignments and by Nigerian and African capital extending across borders. The United Arab Emirates exited OPEC and OPEC+ effective May 1, prompting seven remaining producers to add 188,000 barrels per day to June quotas amid the conflict in the Middle East and disruption around the Strait of Hormuz. Inbound investment featured a $600 million maritime proposal from APM Terminals and a €365 million German partnership worth roughly $428 million spanning energy, agriculture,andprivate-sectordevelopment.Outbound,AlikoDangoteweigheda$15billionto$17billionrefineryinMombasa,Kenya,andthe DangoteGroupwithEthiopianInvestmentHoldingssecuredapprovalforoilandgaspipelinesthroughDjiboutitoconnectlandlockedEthiopia to shipping lanes. The Federal Government approved additional deep seaports, and the International Finance Corporation moved to scout livestock, energy, and housing opportunities. Aliko Dangote's observation that shipping from Lagos to Accra can cost more than from Spain to Lagoscapturedtheintra-Africanlogisticsgapthattheseinvestmentsarepositionedtoaddress.
OPEC+hikesoilproductionquotas,silentonUAEpull-out
SaudiArabia,Russia,and fiveotherOPEC+countries raisedtheiroilproduction quotainanexpectedmove toshowcontinuityafterthe withdrawaloftheUnited ArabEmirates.
Thesevenproducersagreed toadd188,000barrelsper
daytototalJuneoutput amidpricepressurefrom theconflictintheMiddle East,citingacollective commitmenttomarket stability
Thestatement,followingan onlinemeetingofAlgeria, Iraq,Kazakhstan,Kuwait,
Oman,Russia,andSaudi Arabia,madenomentionof theUnitedArabEmirates, whichleftthegroupdays afterannouncingits withdrawal.TheUAE'sexit fromOPECandOPEC+ tookeffectonMay1, makingitthelargest
producertoleavethe organisation. Analystsreadthesilenceon thedepartureasasignof strainedrelations.
(Punch, May 3, 2026)
ItcostsmoretoshipfromLagosporttoAccrathanfromSpaintoLagos-Dangote
AlikoDangotesaiditis oftenmoreexpensiveto shipgoodsfromLagosto AccrathanfromSpainto Nigeria,pointingtothe inefficienciesthatweigh onintra-Africantrade. Speakingwith InternationalFinance
CorporationManaging DirectorMakhtarDiop, hedescribedstructural barriersfromweak transportsystemsto fragmentedtrade corridorsasobstaclesto regionalcommerceand economicintegration.
TheDangoteGroup operatesin17African countries,withinterests incement,oilrefining, andfertiliser.Dangote arguedthatremoving barrierstothefree movementofgoods, services,andpeopleis
centraltoachieving greatereconomic integrationandprosperity acrossthecontinent, framinglogisticscostsas abrakeonAfricantrade.
(Business Insider Africa, May 6, 2026)
FGreceives$600mmaritime investmentproposalfromAPMT Dangoteweighs$17bnrefinery forKenya,citingMombasa's portandmarket
TheFederalGovernment, throughtheNigerian ShippersCouncil,received aproposalforanadditional $600millioninvestmentin themaritimesectorfrom APMTerminalsApapa. ExecutiveSecretaryand ChiefExecutivePius Akutahdisclosedthe proposalduringa familiarisationvisitbythe Council'sgoverningboard totheterminal,describingit asavoteofconfidencein theNigerianeconomy.He
saiditwasencouragingto seefirmsalreadyoperating inNigeriareinvestingasthe governmentworkstoattract foreigndirectinvestment. AkutahsaidtheCouncil wastrackingoperators acrossthesectortoevaluate andimproveperformance, notingthatmostagencies werecomplyingwith directivestomodernise facilitiesandintegrate technologyintooperations.
(Punch, May 7, 2026)
Nigeriasecures$428million GermaninvestmentdealasEurope deepensAfricaenergypush
NigeriaandGermany signedanagreementin Abujacomprisinga€65 millioncommitmentfor financialandtechnical cooperationanda€300 millionexportcredit guaranteeframework,a packageworthroughly $428million.Thedeal wassignedbyMinister ofBudgetandEconomic PlanningAbubakar Bagudu,Ministerof StateDorisUzoka-Anite, andGermanofficialsat theGermanEmbassy. Uzoka-Anitesaidthe partnershipaimedto mobiliseinvestmentand sustainablefinancing duringNigeria'sreform
programme.The agreementdeepens cooperationacross agricultural transformation, renewableenergy, climatetransition,skills development, healthcare,and economicreforms.
GermanAmbassador
AnnettGunthersaidit followedmonthsof bilateraldiscussions involvingNigerian ministries,German developmentagencies, andEuropeanUnion representatives.
(Business Insider Africa, May 16, 2026)
AlikoDangoteis consideringMombasa, Kenya,foraproposedoil refineryestimatedat$15 billionto$17billionand designedtoprocess650,000 barrelsperday,inwhat couldbecomeoneofEast Africa'slargestdownstream investments.Dangotetold theFinancialTimesthat Mombasa'sdeepseaport andKenya'slargerfuel demandmadeitmore attractivethanTanzania, wheretheprojectwas initiallyexpected,andnoted thatcrudecouldbe deliveredbyshippingrather thanrelyingonpipeline
infrastructurefromUganda. Theshiftfollowedconcerns raisedbyTanzaniaover earliersiting announcements.Dangote saidthefinaldirection dependedondiscussions withKenyanPresident WilliamRutooverland, financingsupport,and marketprotection,and warnedthatAfricarisks becomingadumping groundforimportedfuel withoutprotectionforlocal refining.
(Petroleum Price, May 11, 2026; Business Insider Africa, May 11, 2026)
IFCdispatchesteamto exploreNigeriaforlivestock, energyinvestment
TheInternationalFinance Corporationsaiditwould sendateamtoNigeriato explorescalableinvestment inlivestock,energy,and housing.ManagingDirector MakhtarDiopdisclosedthe planinKigali,Rwanda, duringameetingwith PresidentTinubuonthe sidelinesofthe13thAfrica CEOSummit,whereheled anIFCdelegationandsaid thecorporationwantedto expandcollaborationto unlockprivatecapitalfor development.Diop
commendedNigeria's reforms,particularlythe removalofthefuelsubsidy andtheunificationofthe foreignexchangemarket. TinubusaidAfricamust mobiliseinstitutional capital,includingpension funds,tofinance infrastructureandenergy transition,andcalledfor deeperregionalfinancial integrationtoattractprivate investment.
(Punch, May 14, 2026)
FGapprovesadditionaldeep seaportstoboostNigeria's maritimecapacity
MinisterofMarineand BlueEconomyAdegboyega
OyetolasaidtheFederal Governmentapprovedthe developmentofadditional deepseaportstostrengthen maritimeinfrastructureand supplychaincapacity
Oyetolaspokeatthemidyearsessionoftheboardof thePortManagement AssociationofWestand CentralAfricainLagos, themedoncombining logisticalresiliencewith inclusivecommunity development.Hesaidthe newdeepseaportswould
complementexisting infrastructure,improve operationalefficiency,and reinforceNigeria'sposition inregionaltradeand logistics.Theminister addedthatthe administrationwas upgradingexistingseaports throughmodernisation, digitaltransformation,and channeldeepeningto accommodatelarger vessels,partofabroader efforttoexpandmaritime throughput.
(The Cable, May 19, 2026)
Africa'srichestman,AlikoDangote justlockedinamassivegaspipeline dealinEastAfrica
TheDangoteGroupand EthiopianInvestment Holdingsreceivedapproval toinstallaseriesofoiland gaspipelinesthrough Djibouti,aimedat connectinglandlocked Ethiopiadirectlyto internationalshippinglanes. Thefirstphasewillcreatea refined-productpipeline fromDjibouti'sportto Dawaleinsoutheastern Ethiopia.Asecondphase willextendpipelinesto transportnaturalgasand crudefromEthiopia's Somaliregionto
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internationalmarketsvia Djibouti.Theproject addressesamajorlogistical barrierforEthiopia,which lacksdirectseaaccess,and extendstheDangote Group'sinfrastructure footprintinEastAfrica alongsideitsproposed Kenyanrefinery, positioningthegroup acrossbothdownstream processingandcross-border energytransportonthe continent.
(Business Insider Africa, May 23, 2026)
Regulatory activity in May centred on revenue accountability, coordination between agencies, and enforcement of statutory obligations under thePetroleumIndustryAct.NNPCandNUPRCremittedmorethanN322billionand$116.9milliontotheFederationAccountwithintwomonths of Executive Order 9, which mandates full transfer of crude and gas revenues. NUPRC and the NMDPRA pledged to eliminate regulatory overlaps following the courtesy visit of new NMDPRA Chief Executive Rabiu Abdullahi Umar to the Commission, and the NMDPRA began enforcing the mandatory three per cent host community fund contribution through a new digital portal. NUPRC also presented Nigeria's longtermEnergyEvolutionroadmap,spanning2030to2060,attheOffshoreTechnologyConferenceinHouston,combiningfossil-fuelstrengthswith renewable expansion and natural gas as a transition fuel. At sub-national level, Lagos prohibited the use of petroleum tankers for edible oil transport on food-safety grounds, and the Federal Executive Council approved three public-private partnership projects covering a transport data bank and port power plants. The direction is toward tighter revenue capture, clearer regulatory boundaries, and private capital in infrastructuredelivery
NUPRCUnveilsNigeria'sLong-TermEnergyPlanInTexas
NUPRCpresenteda long-termenergyplan aimedatdriving economicgrowth, expandingenergyaccess, andaddressingclimate concerns.Commission ChiefExecutive OritsemeyewaEyesan setouttheEnergy Evolutionroadmapatthe
OffshoreTechnology ConferenceinHouston, describingatransition frameworkspanning 2030to2060that combinesthecountry's fossil-fuelstrengthswith long-termsustainability goals.Shesaidthe strategywouldexpand renewableenergywhile
positioningnaturalgas asatransitionfuelfor industry,households,and emergingtechnologies. Eyesansaidtheplan prioritisedtackling energypoverty, particularlyinrural communitiesrelianton biomassforcooking,and calledforstronger
international collaboration,urging globalinvestorsto commitcapitalto upstreamoilandgas, offshoreinnovation,and decentralisedpower systems.
(TVC News, May 5, 2026)
FECapprovesPPPprojects fortransportdatabank,ports, powerplants
TheFederalExecutive Councilapprovedthree public-privatepartnership projectstostrengthen Nigeria'stransportand powerinfrastructure.The projectscoverasmart nationaltransportdatabank undertheNigerianInstitute ofTransportTechnology andindependentpower projectsattheOnneportin RiversStateandtheApapa portinLagos.The approvalsfollowed regulatoryreviewsbythe InfrastructureConcession RegulatoryCommission,
includingoutlinebusiness caseassessments,due diligence,negotiations,and certificationofthefull businesscases.DirectorGeneralJobsonEwalefoh saidtheprojectsrepresented ashifttowardinfrastructure deliverydrivenbyprivate capitalandstructured partnershiparrangements, alignedwitheffortsto improveeconomic efficiencyandaccelerate development.
(The Cable, May 10, 2026)
LagosProhibitsUseof FuelTankersforEdibleOil Transportation
TheLagosState Governmentprohibited theuseofpetroleum tankersfortransporting edibleoilaspartof measurestoimprove foodsafetyandprotect publichealth.The directivefolloweda Memorandumof Understandinginvolving theLagosState ConsumerProtection Agency,theNational AgencyforFoodand DrugAdministrationand Control,andedibleoil andhaulage stakeholders.Regulators saidthemovefollowed investigationsthat
uncoveredcasesof tankerspreviouslyused forpetroleumproducts beingredeployedfor cookingoil,with petroleumresidues posingcontamination risks.AfolabiSolebo saidonlycertified, dedicatedtankerswould beallowedtotransport edibleoilwithinLagos, andthatviolatorswould facesanctions,withthe partnershipintendedto strengthenoversightof thefoodtransportchain.
(Petroleum Price, May 17, 2026)
NNPC,NUPRCremitN322bn, $116.9mafterTinubuorder
NNPCLimitedandNUPRC remittedmorethanN322 billionand$116.9million totheFederationAccount withintwomonthsofthe implementationof ExecutiveOrder9,signed inFebruary2026. Documentspresentedatthe MarchandAprilFederation AccountAllocation Committeemeetings showedtheremittances followedthedirective mandatingfulltransferof crudeoilandgasrevenues. ExecutiveOrder9was introducedtostrengthen
transparency,improve revenueaccountability,and boostinflowsamidfiscal pressures.PresidentTinubu invokedconstitutional provisionsvesting ownershipofminerals,oil, andgasintheFederation, sayingexcessive deductions,overlapping funds,andstructural distortionshadweakened remittancesandthatthe practicemustendtoprotect nationalrevenue.
(Punch, May 12, 2026)
NUPRC,NMDPRAmoveto endregulatoryoverlaps,boost investorconfidence
NUPRCandtheNMDPRA pledgeddeeper collaborationtoeliminate regulatoryuncertaintiesand strengtheninvestor confidenceacrossthe petroleumindustry The commitmentfolloweda courtesyvisitbynew NMDPRAAuthorityChief ExecutiveRabiuAbdullahi UmartotheNUPRC headquartersinAbuja.The meeting,hostedby CommissionChief ExecutiveOritsemeyewa Eyesan,focusedonamore coordinatedregulatory frameworkacrossthe upstream,midstream,and
downstreamsectors. Accordingtothe Commission,bothagencies reaffirmedtheirshared responsibilityforthe overallhealthandstability oftheoilandgasindustry Theengagementpointsto clearerboundariesbetween thetworegulatorscreated underthePetroleum IndustryActasameansof reducingduplication.
(Punch, May 21, 2026)
NMDPRAenforces3%hostcommunityfundcontributions
TheNMDPRAintensified enforcementoftheHost CommunityDevelopment Trustframeworkunderthe PetroleumIndustryAct 2021,directingoperators andlicenseestocomply withthemandatorythree percentannualcontribution tohostcommunityfunds andintroducingadigital portaltoimprove transparencyand accountability The authoritydisclosedthisata stakeholderworkshopin PortHarcourtonthe frameworkandthenew portal.TheTrustis designedtodeliversocial,
environmental,and economicbenefitsto petroleum-producing communities.Executive DirectorforHealth,Safety, Environmentand CommunityMustapha Lamorde,speakingfor AuthorityChiefExecutive RabiuUmar,saidtheportal
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wouldsupportdigital registrationoftrusts,project tracking,compliance reporting,monitoringof statutorycontributions,and real-timeregulatory oversight.
(Punch, May 24, 2026)
Corporate activity in May was shaped by the run-up to the Dangote refinery listing, by Seplat's post-acquisition positioning, and by leadership changes in the downstream sector Aliko Dangote set a $50 billion valuation target for the refinery ahead of a planned listing that could place up to 10 per cent on the market, while SouthAfrica's Public Investment Corporation and Government Employees Pension Fund visited the refinery and fertiliser complex, pointing to cross-border institutional interest ahead of the offering. Femi Otedola denied financing the refinery and said he would seek an allocation in the public offer On governance, Seplat shareholders confirmed Tony Elumelu as a non-executive director followingHeirsEnergies'acquisitionofaroughly20percentstake,whileEternaPlcreportedrevenueofN302.4billionfor2025andappointed Jude Nwaulune as Managing Director, and the Senate confirmed Rabiu Abdullahi Umar as NMDPRA Chief Executive. The common thread is capitalformationandboardrenewalacrossindigenousenergycompaniesasthesectorconsolidatesaroundlarger,better-capitalisedoperators.
I'venotinvestedasinglenaira, dollar,FemiOtedolaspeakson fundingDangoteRefinery
FemiOtedola,chairmanof FirstBankHolding, dismissedclaimsthathe wasamongthefinanciersof theDangoterefinery,calling
thereportsfalseina statementonhisXaccount. Theclarificationfolloweda reportthatOtedola, alongsideothers,had
financedtherefinery,which theDangoterefineryhad alsodismissedasfalse. Otedolasaidtheclaims werecompletelyuntrue, whileaddingthathe plannedtorequestaspecial allocationtoparticipatein therefinery'sforthcoming publicofferontheNigerian ExchangeLimited.His
NMDPRAbosstargetsenergyreform,improvedfuelsupply
TheSenateconfirmed RabiuAbdullahiUmaras ChiefExecutiveofthe NigerianMidstreamand DownstreamPetroleum RegulatoryAuthority followinghisscreeningon May5,afterPresident Tinubunominatedhimon April29tostrengthen
regulatoryeffectiveness underthePetroleum IndustryAct.Umarpledged tostrengthennational energysecurity,eliminate supplybottlenecks,and ensurestablefuel availability,outliningan agendafocusedonsupply resilience,regulatory
efficiency,investor confidence,andnationwide productaccess.Hesaid globaldisruptions, includingtensionsaround theStraitofHormuz,would continuetoinfluencefuel prices.Umar,withovertwo decadesacrossdownstream petroleum,logistics,and
commentscameasthe DangoteGroupadvanced preparationsforaplanned listingoftherefinery, drawingattentionfrom investorstotheownership andfundingstructureofthe project.
(Daily Post, May 4, 2026)
manufacturing,previously heldseniorrolesatOando andtheDangoteGroup,and namedoperational readinessofthe22depots animmediatepriority
(Punch, May 8, 2026)
Dangotetargets$50bnrefinery valuationbeforestocklisting
AlikoDangoteistargetinga valuationof$50billionfor theDangotePetroleum Refineryand Petrochemicalsaheadofa plannedstockmarketlisting laterintheyear,according toBloomberg.Thereport saidthecompanycouldsell uptoa10percentstake throughtheNigerian Exchange,implyingan offeringofabout$5billion. AseniorDangoteGroup executiveconfirmedthatthe projectedvaluationaligned withinternalexpectations
butdeclinedtogivefurther detailonthetransaction. Theplannedlistingcomes asstrongerglobalcrude pricesandgrowing domesticfueldemand improvethecommercial outlookforthe650,000 barrelsperdayrefinery, whichhasbecomea dominantplayerinNigeria's downstreammarketsince operationsbeganin2024.
(Punch, May 12, 2026)
Africa'slargestpension fundshowsdeepinterestin theDangoteRefinery
RepresentativesofSouth Africa'sPublic InvestmentCorporation andtheGovernment EmployeesPensionFund visitedtheDangote refineryandDangote FertilizerLimited, pointingtogrowing continentalinterestin long-termindustrial investment.Thevisit coincidedwiththe DangoteGroup'splanto launchaninitialpublic offeringandlistthe refineryonmultiple Africanstockexchanges. Africanfinancialmarkets arefollowingthe
proposedlistingclosely, whichcouldrankamong thecontinent'sfirst significantcross-border industriallistings. Dangotehasappointed advisoryfirmsincluding StanbicIBTCCapitaland VetivaAdvisoryServices toguidetheprocess.The interestfromoneof Africa'slargestpension managerspointstothe scaleofinstitutional appetiteaheadofthe offering.
(Business Insider Africa, May 20, 2026)
EternaPlcpostsN302bn revenue,eyesexpansion
EternaPlcreportedrevenue ofN302.4billionforthe yearendedDecember31, 2025,atits33rdAnnual GeneralMeeting,where shareholdersapprovedthe auditedfinancialstatements andotherresolutions.
ChairmanGabrielOgbechie saidthecompanyremained resilientdespitegeopolitical tensionsaffectingenergy trading,economicreforms, pricingvolatility,and transitionswithinthe downstreamsector, attributingtheperformance
tooperationalefficiency, executionofstrategy,and growthacrossbusiness segments.Heoutlineda focusonsustainabilityand expansionthrough investmentinretailgrowth, aviationoperations, lubricants,liquefied petroleumgas,and environmental,social,and governanceinitiatives, positioningthecompany forfurthergrowthwithin Nigeria'senergysector
(Punch, May 13, 2026)
Seplatshareholdersconfirm TonyElumelu'sappointment asnon-executivedirector
SeplatEnergy shareholdersconfirmed theappointmentofTony Elumelu,chairmanof HeirsEnergies,asanonexecutivedirectoratthe company's13thAnnual GeneralMeetingin Lagos.Theresolutionto confirmtheappointment wassupportedby99.96 percentofshareholders whovoted.The appointmentfollows HeirsEnergies' acquisitionofastakeof about20percentin Seplatthroughadeal valuedatroughly$500
millionwithMaurel& Prom,makingthegroup Seplat'slargest shareholder.Shareholders alsoapprovedLarry Ettahasanindependent non-executivedirector. Theboardchangesplace aprominentindigenous investoratthecentreof Seplat'sstrategyasthe companypursuesits productionanddividend targetsfollowingthe Mobilintegration.
(The Cable, May 21, 2026)
