FEBRUARY 2026
Filtering the noise to deliver important energy sectorupdates
+$60 BILLION INVESTMENTS 10bscf/d BY 2027 12bscf/d BY 2030
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EXECUTIVEBRIEF January 2026 marked a decisive inflection point for Nigeria’s energy sector. The month revealed a system transitioning from reform to execution, with strong signals across refining, gas industrialisation, power-sector restructuring, clean energy adoption, and upstream capital inflows. Policyclarity,privatecapitalmobilisation,andinfrastructuredeliveryconvergedmorevisiblythanat anypointinthepastdecade.
1. RefiningandDownstream:NigeriaMovesintoaCompetitiveEra Nigeria’srefininglandscapeenteredanewphaseofscaleandcompetition.
• Atleast23newrefineries,withacombinedcapacityofover850,000bpd,arenearingcompletion nationwide,signallingamorecompetitivedomesticrefiningmarket.
• Dangote Refinery intensified operations with 24-hour petrol loading, sustaining 50+ million litres/day,whiledomesticPMSsupplyrose64%month-on-monthinDecember
• Dangote signed a $350 million expansion deal with Engineers India Ltd, targeting 1.4 mbpd capacity,andadvancedpreparationsforapotentialNigerianIPO.
• Oando’sexitfromPMSimportsunderscoresstructuraldisplacementofimportsbylocalsupply.
Executive Insight: Nigeria has crossed the point of no return on refining self-sufficiency, with competition,logisticsefficiency,andpricingdisciplinenowthenextbattlegrounds.
2. GasEmergesastheCoreIndustrialGrowthEngine GasdevelopmentsdominatedJanuary’sstrategicnarrative.
• NNPCunveiledtheGasMasterPlan2026,targeting10bscf/dby2027and12bscf/dby2030, withover$60billioninprojectedinvestments.
• Seplat’sANOHprojectachievedfirstgas,delivering300MMscfdtothedomesticmarket.
• Nigeria’sgasexportsrose12%month-on-month,reaching101.9billionscfinDecember2025, thehighestintheyear.
• Afreximbank provided $64 million to support Levene Energy’s entry intoAxxela, reinforcing confidenceinregulatedgasinfrastructure.
• NRCannouncedplanstodeployLNG-poweredtrains,signallinggaspenetrationintotransport.
Executive Insight: Gas is no longer a transition fuel in Nigeria; it is the central platform for industrialisation,power,transport,andexportearnings.
3. PowerSector:CapitalFlowsRiseasStructuralReformDeepens Thepowersectorsawrenewedfinancialandinstitutionalmomentum.
• FG proposed ₦1.096 trillion in 2026 power-sector capital expenditure, with REA receiving ₦502billion.
• Nigeria raised ₦501 billion via its first dedicated bond issuance to clear legacy power-sector debts.
• Discos installed 228,614 meters in Q3 2025, while FG banned meter installation charges nationwide.
• Abuja Disco transitioned into a HoldCo structure, aligning with state-level electricity market reforms.
• Major acquisitions, including MA’AM Energy’s $750m Geregu takeover, reshaped investor expectations.
ExecutiveInsight:Power-sectorreformisshiftingfromliquiditysurvivaltobalance-sheetrepairand marketdecentralisation.
4. CleanEnergyandEnergyTransitionAccelerateatScale Cleanenergyadoptionmovedfrompilotstomeasurablescale.
• Nigeriarecordeda400%increaseinEVadoptionbetween2020and2025,withLagostargeting 10,000electricbusesby2030.
• Over100,000vehiclesand4,600tricyclesnowrunonCNG,supportedbyPiCNG’sexpansion mandate.
• REAandLotusBanklaunchedastructuredrenewable-energyfinancingframework,whileNiger Statesealeda$163msolarprojectwiththeIslamicDevelopmentBank.
• Nigeria’scarbonmarketframeworkwasreaffirmed,withprojectedearningsof$2.5–$3billion annually.
Executive Insight: Nigeria’s energy transition is becoming investment-driven, not donor-led, with gas,CNG,solar,andEVsconverging.
5. Upstream:CapitalReturnsasRegulatoryDisciplineTightens Upstreamconfidencestrengthenedamidstrictergovernance.
• Nigeria led Sub-Saharan Africa in upstream investment in 2025 with $5.3 billion, defying regionaldecline.
• Shellsignalledupto$20billioninvestmentintheBongaSouthWestdeepwaterproject.
• NUPRCunveileda90-dayproductionaccelerationplanandrestrictedbidderstotwoblocksin the2025licensinground.
• FG barred signature-bonus refunds, reinforcing commercial discipline and ending speculative licensing.
Executive Insight: Nigeria’s upstream sector is re-pricing risk correctly, favouring operators with capitaldepthandexecutioncapability
6. CorporateActionsandGovernanceSignalMarketMaturity Januaryfeaturedsignificantleadershipandownershipshifts.
• NLNGappointedAdeleyeFaladeasincomingManagingDirector
• HeirsGroupconsolidateditsstakeinSeplatEnergy,whileTotalEnergiesexiteditsRenaissance JVinterest.
• Aradelachieved10millionman-hourswithoutlost-timeinjury,reinforcingESGcredibility.
• Dangote, Sahara Group, Pinnacle, and others expanded local value-addition and product portfolios.
Executive Insight: Corporate Nigeria’s energy sector is maturing into a governance-led, institutionallyinvestablemarket.
Dangoterefinerysetforcompetition as23newrefineriesnearcompletion TheDangotePetroleum Refineryissettoface increasedcompetitionasat least23newrefineries acrossNigeriamovecloser tocompletion.
Industrydatareleasedby thePetroleumProducts RetailOutletsOwners AssociationofNigeria (PETROAN)revealedthat therefineries,currentlyat differentstagesof development,areexpected toaddmorethan850,000
barrelsperday(bpd)to Nigeria'srefiningcapacity oncecompleted.
PETROAN'sreviewof Nigeria'spetroleumsector for2025andoutlookfor 2026wasjointlysignedby theassociation'snational president,BillyGillisHarry,andnationalpublic relationsofficer,Joseph Obele.
(Legit, January 2, 2026)
NLNGappoints newmanagingdirector TheboardofNigeria LiquefiedNaturalGas Limited(NLNG)has approvedtheappointment ofAdeleyeFaladeasthe company'snewmanaging directorandchiefexecutive officer
Theappointmentwas disclosedatasend-off ceremonyheldinAbujato marktheendofthetenure
oftheincumbentmanaging director,PhilipMshelbila, whomMrFaladewill succeed.
MrFaladeisexpectedto assumeofficeinApril2026, followingMrMshelbila's exitaftermorethanfour yearsatthehelmofthe company
NLNGisamajorplayerin thecountry'senergysector,
Nigeriahasexperienced400% increaseinelectric-vehicleadoption withinfiveyears TheExecutive Chairman/Managing DirectorofLUGWest Africa,Mr.ImranOladimeji Hamzat,hassaidthat Nigeriaisgradually becomingahugemarketfor electricvehicles,statingthat thecountryhasrecordeda significantriseinelectricvehicleadoption,withan estimated400percent increaseinelectricvehicles between2020and2025.
HestatedthisattheLUG WestAfrica2025end-ofyearpartyinLagos.
Accordingtohim,global trendssuggestthatby2030, electricvehiclescould accountforabout10per centofvehiclesonNigerian roads.
Hamzatannouncedplansto expandtheoperationsof LUGWestAfricain2026 withtheestablishmentofa localassemblyplantfor streetlightinginfrastructure andtheinstallationofover 250electricvehicle(EV) chargingpointsacross LagosState.
Healsodisclosedthatthe companyhasbeenworking closelywithits internationalpartnersto integratesolar-powered streetlightinginfrastructure withEVchargingstations.
(The Guardian, January 3, 2026)
producingliquefiednatural gasandnaturalgasliquids forexportfromitsBonny IslandplantinRiversState.
Thecompanyplaysakey roleinreducinggasflaring andpromotingcleaner energygloballyand operatesasajointventure involvingtheNigerian governmentand internationaloilcompanies.
Accordingtothecompany, MrMshelbilawillleave NLNGattheendof December2026toassume
officeasSecretary-General oftheGasExporting CountriesForum(GECF) inDoha,Qatar.
(Premium Times, January 5, 2026)
Discosinstall228,614meters inQ3,2025 TheNigerianElectricity RegulatoryCommission (NERC)hassaidthat electricitydistribution companies(Discos) installed228,614metersin thethirdquarterof2025.
Thecommissionsaidthisin itsthirdquarterreport postedonitswebsiteon Tuesday,notingthatthe figurerepresentsanincrease of0.73percentcompared tothe226,959meters installedinthesecond quarterof2025.
Accordingtothereport, duringthequarterunder review,176,302meters, representing77.12percent ofthetotalinstallations, wereinstalledunderthe MeterAssertProvider Framework.
Italsosaidthat44,104 meters,representing25.01 percentoftheinstallation, weredeployedunderthe VendorFinanced
Framework;while7,902 meters,representing3.46 percentoftotaldeployment wereinstalledunderthe DistributionSector RecoveryProgramme.
Thereportfurtherstated that175meters, representing0.08percent, wereinstalledunderthe MeterAcquisitionFund Framework;and131 meters,representing0.06 percent,wereinstalled undertheDiscoFinanced Framework.
(Punch, January 6, 2026)
AARanounveils unmannedfuelstations AARanoNigeria,oneof thecountry'sleading downstreampetroleum marketingcompanies,has unveiledNigeria'sfirstfully automatedandunmanned fuelstations,markinga majorstepinthedigital transformationofthefuel retailsector.
Theinitiativefollowsa businesspartnership betweenAARanoand PetrosoftLimited,a Nigeriantechnologyfirm specializingindownstream oilandgasbusiness managementsystems. Underthepartnership,
M&PcompletelyexitsSeplatEnergy SeplatEnergyPlchas announcedthatfounding shareholder,Etablissements Maurel&PromS.A.,has completelyexitedits shareholdinginthe company
Thesaleinvolved 120,400,000ordinary shares,acquiredbyHeirs EnergiesLimited (86,639,377shares)and HeirsHoldingsLimited (33,760,623shares).
Followingthetransaction, M&Pnolongerholdsany stakeinSeplatEnergy, whileHeirsGroupnow jointlycontrols20.07per centofthecompany's issuedsharecapital.
M&P,oneofSeplat Energy'soriginalinvestors, hasbeeninstrumentalinthe company'sgrowth, supportingitsevolutioninto
aleadingindependent Nigerianenergycompany. SeplatEnergyexpressedits appreciationforM&P's contributions,wishingthe investorsuccessinfuture endeavours.
Thecompanyalso welcomeditsnew shareholders,notingthat HeirsGroupwouldplaya strategicroleinadvancing SeplatEnergy'slong-term objectives.
(Punch, January 7, 2026)
Petrosoftwilldeployits automatedfuelstation technologyacrossAA Rano'sretailnetwork nationwide.
Theunmannedstationsare scheduledtogolivein January2026andwilloffer 24-hourself-servicefueling, contactlesspaymentsand real-timemonitoring, eliminatingtheneedforonsiteattendants.
AARanosaidthestations aredesignedtoimprove transparency,reduce operationalinefficiencies
andgivecustomers confidencethattheyreceive theexactquantityoffuel paidfor
(Punch, January 7, 2026)
NigeriaLNGrushestohitdeadline amidLNGdemandsurge Globalmarketanalystshave providedadetailedmarket overview,predictingthat pricesofliquefiednatural gas(LNG)arelikelyto comeundersustained pressurein2026,asthe marketabsorbsthelargest supplywaveinthe industry'shistory
Analysts,ledbyNeil Beveridge,forecastglobal LNGdemandtoriseto around441milliontonnes perannum(mtpa)in2026, upabout8.5percentyearon-year.Growthisexpected
tobedrivenalmostentirely byAsia,whileEurope's LNGimportsareseen stabilizingnear120mtpa, assumingonlyalimited returnofRussianpipeline gas.
Theyalsonotedthatthe NigeriaLiquefiedNatural Gas(NLNG)hassustained investment,hopingto capitalizeonthegrowth opportunitiesduringthe year
(Leadership, January 11, 2026)
FGproposesN1.096trnelectricity capitalprojectsin2026asREAtops withN502bn TheFederalGovernment hasproposedatotalof N1.096trillionforthe executionofcapitalprojects inthepowersectorinthe 2026AppropriationBill, withtheRural ElectrificationAgency (REA)receivingthehighest allocationofN502.21 billion.
Detailsoftheproposal showthatthefederal ministryofpowerhasbeen allocatedN416.748billion forcapitalprojects.In addition,thegovernment proposedN10.379billion forrecurrentexpenditurein thepowersector, comprisingN6.168billion forpersonnelcostsand
N4.211billionfor overheads,bringingthe totalallocationtoN1.107 trillion.
Abreakdownofthe ministry'sheadquarters allocationindicatesthat N987.932millionhasbeen earmarkedfortheprovision ofbasicamenitiesfor project-affected communitiesacross38 resettlementsites. Theseincludeschools, solar-poweredboreholes, accessroads,health centres,aswellassurvey andlanddemarcation works.
(Vanguard, January 11, 2026)
Afreximbankprovides$64mn tosupportLeveneEnergy's acquisitionofAxxela
TheAfricanExport-Import Bank(Afreximbank)has provideda$64million acquisitionfinancefacility toLeveneEnergy DevelopmentLimitedto supportitsequity commitmenttoBluecore GasInfracoLimited.The fundingwillenable BluecoreGasInfraco,the
acquisitionvehicle,to acquirea30percentequity stakeinAxxelaLimited, oneofWestAfrica'sleading gasandpower infrastructurecompanies.
Thelandmarktransaction providesLeveneEnergy withdirectentryinto Nigeria'sregulated
midstreamanddownstream gassectors.Italsomarksa significantdiversification fromitscoreoilandrefined petroleumproductstrading businessintostable,longterminfrastructure-backed earnings,reflectingLevene Energy'sobjectiveto transitiontoafully integratedenergycompany withrecurringrevenue streamsanchoredon infrastructure-backedassets.
Commentingonthe financing,Haytham Elmaayergi,Afreximbanb's executivevicepresidentfor globaltradebanking,
highlightedthetransaction's significance,whichis alignedwithAfreximbank's strategicfinancingpriorities underitsleadershipin globaltradebanking,intraAfricantrade,and industrializationpillars.
(BusinessDay, January 12, 2026)
FGsettoreviewtariffpolicies toboostlocalproduction Thefederalgovernmenthas commencedastrategic reviewoftariffpoliciesto encouragelocalproduction, protectdomesticindustries, andeasethecostofdoing business.
Thisfollowedahigh-level meetingwiththetariffs reviewboardandthe ministerofstateforfinance, DrDorisUzoka-Anite, whereexistingtariff regimeswereweighed againstthebackdropof risingproductioncostsand foreignexchangepressures.
Discussionsfocusedon supportingthefederal government's industrializationagenda, addressingchallengesfaced bylocalmanufacturers,and ensuringabalanced approachthatfacilitates essentialimports,while strengtheningNigeria's
localvaluechains.UzokaAnitesaidthemoveispart ofthegovernment'sstrategy toboostindustrialgrowth andenhanceeconomic competitiveness.
Theministerstatedthatthe reviewisaimedat repositioningtariffsastools foreconomicdevelopment ratherthanaconstrainton productivity.
(Vanguard, January 12, 2026)
FGapproveselectricity interventionprojectsforEkiti TheFederalGovernment hasapprovedtheawardof keyelectricityintervention projectsinEkitiStateunder theNationalIntegrated PowerProject,aimedat strengtheningand expandingpowersupply acrossthestate.
Accordingtothestatement onEkitiStateGovernment's officialwebsite,theprojects
includetheextensionofa four-kilometre33kVpower linefromCBNJunctionin Ado-EkititoIyin-Ekiti,as wellastheextensionofa six-kilometre11kVline fromAyobaJunction, GovernmentHouse,toEkiti StateWaterCorporation, TechnicalCollege,AdoEkiti,andtheTechnology IncubationCentre.
EkitiStatecommissioner
MA'AMEnergy's$750mnGeregu takeoverexcitesinvestors Theminorityinvestor communityandoperatorsin thecapitalmarkethave expressedoptimismabout theacquisitionofmajority shareholdinginGeregu PowerPlcbyMA'AM EnergyLimited,sayingit wasamajorboostforthe powersector.
Thestakeholdersinseparate chatsindicatedthatthe MA'AMEnergyLimited takeoverofGereguPower, oneoftwopower companieslistedonthe NigerianExchangeLimited, mightbethebeginningofa neweraforNigeria'spower sector
TheboardofGereguPower, inacorporatedisclosure filedwiththeNGX,stated thatthecompany'smajority shareholder,Amperion PowerDistribution CompanyLimited,owned
bybillionairebusinessman FemiOtedola,had undergonearestructuring ofitsownership,following asharesaleandacquisition concludedon29December 2025.
Withthetransaction, MA'AMEnergyLimited acquireda95percent equityinterestinAmperion PowerDistribution Company;thus,theindirect controllinginterestin GereguPowerpreviously heldbyCalvadosGlobal ServicesLimitedand Otedolawastransferredto MA'AMEnergyLimited.
(Punch, January 12, 2026)
forinfrastructureandpublic utilities,Prof.Mobolaji Aluko,saidtheprojects wereapprovedbythe managementoftheNiger DeltaPowerHolding Company(NDPHC), followingaformalrequest byGovernorBiodun Oyebanjiforfederal interventiontoaddress challengesinthestate's electricityinfrastructure.
(Punch, January 13, 2026)
TranscorpEnergy,Renewvia partneronNigeriacleanpowerpush TranscorpEnergyLimited andRenewviaSolarNigeria Limitedhavesigneda memorandumof understandingtodevelop renewableenergyprojects acrossNigeria,marking anotherstepineffortsto addressthenation's persistentpowerdeficit throughprivate-sector partnerships.
Thecollaborationbetween theintegratedenergy subsidiaryofTransnational CorporationPlcandthe NigerianunitofUS-based RenewviaEnergyCorp, willtargetcommercial, industrialandresidential customers,aswellas underservedcommunities throughbothgrid-connected andoff-gridplatforms.The companiesplantoexpand operationsbeyondNigeria intootherAfricanmarkets. Thepartnershipcomesas
Nigeriagrappleswith chronicelectricityshortages thathavehampered economicgrowthand industrialdevelopment.The WestAfricannationofmore than200millionpeople generatesroughly4,000 megawattsofpower—far belowdemand—forcing businessesandhouseholds torelyheavilyondieselpoweredgenerators.
(BusinessDay, January 13, 2026)
Nigeriatounlock$3bnannually fromcarbonmarket PresidentBolaTinubuhas toldworldleadersthat Nigeriaismobilizing climatefinancethrougha newlyactivatedcarbon marketframeworkexpected tounlockbetween$2.5 billionand$3billion annuallyoverthenext decade.
Speakingatthe2026 editionoftheAbuDhabi
SustainabilityWeek,Tinubu saidNigeriahastaken “vigorousregulatorysteps” tostrengthenitsclimate governance.Thisincludes theadoptionoftheNational CarbonMarketActivation Policyandthelaunchofthe NationalCarbonRegistryto improveemissions reportingandverification.
Tinubucitedthe2023
FGunveilsLagosgoldrefinery, pushes$600mnlithiumplantlaunch TheFederalGovernment hasannouncedthe commencementof operationsatahigh-purity goldrefiningplantinLagos, withthreeadditionalgold refineriesatdifferentstages ofdevelopmentacrossthe countryanda$600m lithiumprocessingplantin NasarawaStatereadyfor commissioning.
Theministerofsolid mineralsdevelopment,Dele Alake,saidtheprojects markedtangibleoutcomes ofthegovernment'svalueadditionpolicyinthe miningsectorandwere repositioningNigeriaas Africa'sleadingminerals hubandstrategicglobal partnerincriticalminerals
forthegreenenergy transition.
Alakespokeduringa meetingwiththeSaudi Arabianministerof industryandmineral resources,MrIbrahimAlKhorayef,aheadofthe FutureMineralsForumin Riyadh,SaudiArabia.
Theminister'sspecial assistantonmedia,Segun Tomori,saidinastatement thattheengagement focusedondeepening bilateralcooperationin solidmineralsdevelopment andtranslatingprevious discussionsintoactionable outcomes.
(Punch, January 13, 2026)
ElectricityAct,which providesfordecentralized, inclusiveenergyaccessto ruralcommunities,off-grid healthfacilities,educational institutions,markets,and underservedareas.Hesaid thegovernmentis modernizingNigeria's energyarchitectureto deploysustainablepowerto thesecommunities.
(Punch, January 13, 2026)
EkoDiscoappointsWola Joseph-CondottiasinterimCEO TheEkoElectricity DistributionCompany(Eko Disco)hasappointedWola Joseph-Condottiasitsnew chiefexecutiveofficer followingtheresignationof RekhiaMomoh,whohad ledthecompanyfornearly twoyears.
Untilherappointment, Joseph-Condottiwasgroup managingdirectorandchief executiveofficer,West Power&GasLimited,the formercoreinvestorinEko Discoandeightother subsidiarieswithdiverse interestsacrosstheenergy sector
Herelevationcomesata momentofunusualstrategic significanceforthe electricitydistribution company,followinga landmarkownership
transitionandrenewed investorinterestinNigeria's powerdistributionsegment.
(The Nation, January 14, 2026)
TCNrestorespowertoTaraba afterupgrade Electricitysupplyhasbeen fullyrestoredtoTaraba State,includingJalingoand surroundingareas, followingthesuccessful completionofupgrade worksontheYola–Mayo Belwa–Jalingotransmission line.
Thecompanyannounced thatfullpowerrestoration wasachievedat7:00pmon January13,2026,after completingallprecommissioningtestsandthe
mandatorysoakperiod,in linewithstandard operationalprocedures.
Theplannedoutage,which beganat2:16p.m.on January9,allowed contractorstocarryout criticalupgradeworkonthe transmissionline.
(Punch, January 14, 2026)
FGenforces0.5%levyon fuelwholesalers TheFederalGovernment hastightenedregulatory pressureonfuelsuppliers andtheirwholesale customersinthe downstreampetroleum sectorwiththeenforcement ofthe0.5percentlevyon thewholesalepriceof petroleumproductsand naturalgas,asprovidedin therecentlypublished MidstreamandDownstream PetroleumOperations Regulations(2025).
Underthenewregulations, suppliersofpetroleum productsarerequiredto
collectandremitthelevyat wholesalepoints,making complianceacondition directlytiedtolicensing andcontinuedoperationin thesector.
Section47ofthePetroleum IndustryActstipulatesthat theNigeriaMidstreamand DownstreamPetroleum RegulatoryAuthority (NMDPRA)shallmaintain afundcalled“theAuthority Fund,”intowhichmoney accruingtothecommission shallbepaid.
(Punch, January 14, 2026)
NUPRCunveils90-dayplan toboostoiloutput Theleadershipofthe NigerianUpstream PetroleumRegulatory Commission(NUPRC)has unveiledasweepingreform agendaaimedat acceleratingoilproduction, improvingregulatory efficiencyandtightening hydrocarbonaccountability, astheFederalGovernment pushestorampupcrude outputtothreemillion barrelsperdayby2030.
Thecommissionchief executive,Oritsemeyiwa Eyesan,saidtheregulator hadcommenceda90-day programmetofast-track approvalsfornear-ready fielddevelopmentplans,
wellinterventions,rig mobilizationandother “quick-win”opportunities capableofdeliveringearly barrelstothemarket.
Eyesandisclosedthisata stakeholderengagementin Lagos,wheresheunveiled hervisionandagendafor thecountry'supstream sector Themeetingwas attendedbymembersofthe OilProducersTrade Section,theIndependent PetroleumProducers Group,emergingplayers andotherkeyindustry operators.
(Punch, January 14, 2025)
Aradelachieves10million man-hourswithoutinjury AradelHoldingshassaidit recorded10millionmanhourswithoutalost-time injuryacrossitsoperations asof21December2025.
Inastatement,thecompany saidthemilestonewas achievedacrossallits
subsidiariesduringaperiod ofexpandedoperational activity,reflectingwhatit describedasadeeply embeddedhealth,safety, andenvironmentculture supportedbystructured safetyinitiativesand proactiveleadership.
TotalEnergiessells10%stakein RenaissanceJV TotalEnergiesEPNigeria hassignedasaleand purchaseagreementwith Vaarisforthesaleofits10 percentnon-operated interestintheRenaissance JVlicencesinNigeria.
TheRenaissanceJV, formerlyknownasthe SPDCJV,isan unincorporatedjointventure betweenNigerianNational PetroleumCompany Limited(55percent), RenaissanceAfricaEnergy CompanyLtd(30percent, operator),TotalEnergiesEP Nigeria(10percent)and AgipEnergyandNatural ResourcesNigeria(5per cent),whichholds18 licencesintheNigerDelta.
Inarecentstatement releasedbyTotalEnergies,it wasannouncedthatunder theagreementsignedwith
Vaaris,TotalEnergiesEP Nigeriawillsellits10per centparticipatinginterest andallitsrightsand obligationsin15 RenaissanceJVlicenses, whichareprimarilyoilproducing.
Theagreementalsostated thatTotalEnergiesEP Nigeriawilltransferto Vaarisits10percent participatinginterestinthe threeotherlicencesof RenaissanceJV,whichare producingmainlygas, namelyOML23,OML28 andOML77,while TotalEnergieswillretain fulleconomicinterestin theselicences,which currentlyaccountfor50per centofgassupplyby NigeriaLNG.
(Punch, January 14, 2026)
Aradelnotedthatitsannual HSEWeek,now approachingitsninthyear, hascontinuedtoplayakey roleinreinforcingvigilance andsustainingsafety performanceacrossthe organization.
Thecompanysaidithas attainedISO14001:2015 certificationfor environmentalmanagement andISO9001:2015 certificationforquality
management,whileitison coursetoachieveISO 45001:2018certificationfor OccupationalHealthand SafetyManagement Systems.
(Punch, January 15, 2026)
Dangoterefinerybegins24-hour petrolloadingoperations TheDangotePetroleum Refineryhascommenced night-timeloading operationsasitintensifies effortstosustainadaily supplyofmorethan50 millionlitresofpremium motorspirit(petrol)across Nigeria,signalingamajor shifttofull24-hour operationsatAfrica'slargest refinery
(Punch, January 15, 2026)
Themovecomesasthe refinerycontinuestoramp upproduction,stabilize logistics,andstrengthen fuelsecurity,while counteringspeculation aroundmaintenance activitiesandsupply disruptions.Originally designedfordaytime evacuation,thefacilityhas nowexpandedloadingto nighthourstoensurethat risingoutputismatched withuninterruptedofftake. Thecompany'smanaging director,DavidBird,said thetransitiontoround-theclockloadinghadbecome necessarytomeetmarket demandandimprove turnaroundtimeforproduct evacuation.Accordingto him,therefineryisnow meetingthe50million-litre dailypetrolrequirementin bothproductionand evacuation.
FGbarssignaturebonusrefundas oilreformscontinue TheFederalGovernment haswarnedprospective investorsinthe2025oil licensingroundthatany errors,miscalculations,or disappointmentsarising fromthebiddingprocess willbeborneentirelybythe companiesinvolved, stressingthattherewillbe norefundsofsignature bonusesorexchangesofoil assetsunderany
circumstances.
Thewarningwasissuedby theministerofstatefor petroleumresources(oil), HeinekenLokpobiri,atthe 2025NigerianUpstream PetroleumRegulatory Commissionpre-bid conferenceheldinLagos. Theconferencewasaimed ateducatingprospective biddersonavailableassets,
DangoteRefineryCEObraces for'extremelybusy'Aprilahead ofNigeriaIPO DavidBird,thefirst standalonechiefexecutive officerofDangoteRefinery, saidhe'sbracingforan 'extremelybusy'Aprilasthe $20billionfacilityprepares forwhatcouldbecomeone ofNigeria'smostsignificant initialpublicofferings. TheBritishexecutive,who tookthehelmofAfrica's largestoilrefineryina newlycreatedrole, disclosedthatthecompany isacceleratingpreparations tolistaportionofthe 650,000barrel-per-day facilityontheNigerian stockexchangewithin 2025.
Birdsaidhisadvisorshave cautionedhimagainst planninganyholidays duringthecrucialmonth whenengagementwith financialinstitutionsand legalcounselwillintensify
Thefacility,builtby Africa'srichestman,Aliko Dangote,representsthe continent'slargestsingletrainpetroleumrefineryand isdesignedtomeet Nigeria'sentirefuel demandwhilegenerating surplusforexport.
(BusinessDay, January 15, 2026)
thelegalframework,and therisksinvolvedinthe licensingprocess.
Lokpobirisaidtheerawhen oillicenceswereacquired forspeculation,prestigeor resalewasover,addingthat licencesaregovernment assetsthatmustbeactively developed.Accordingto him,onceabidis completedandanawardis madeinlinewiththelaw, thetechnicaland
commercialrisksrest entirelywiththebidder.
(Punch, January 15, 2026)
DangoteRefinery petrolsupplyup Nigeria'sdomesticpetrol supplyfromtheDangote PetroleumRefineryand Petrochemicalshassurged byabout64percenttoan averageof32millionlitres perday,following operationalimprovements atthefacility,accordingto thelatestdatafromthe NigerianMidstreamand DownstreamPetroleum RegulatoryAuthority (NMDPRA).
Figurescontainedinthe NMDPRA'sDecember 2025factsheetshowthat theactualaveragedomestic supplyofPremiumMotor Spirit(PMS)reached32.01 millionlitresperdayin December,comparedwith about19.5millionlitresper dayrecordedinNovember 2025.
Thejumprepresentsoneof thegreatestmonthly improvementsinlocal
64% petrolsupplysincethe commencementofphased operationsatthe$20billion Lekki-basedrefinery
Thefactsheetindicatesthat DangoteRefineryalone contributedabout5.78 millionlitresperdayto nationaldomesticPMS supplyinDecember,with overallsupplyperformance boostedbyimproved refineryutilisationandmore efficientproductevacuation intocoastaldepotsand throughtruck-outstothe domesticmarket.
NMDPRAdataalsoshow thattherefineryachieveda peakcapacityutilizationof about71percentduringthe month,underscoringwhat theregulatordescribedas 'strongcapacityutilization forDecember
(BusinessDay, January 16, 2026)
Over4,600tricycles,100,000 vehiclesrunonCNGinNigeria ThePresidentialInitiative onCompressedNaturalGas andElectricVehicleshas saidthatover4,600 tricyclesand100,000 vehiclesinNigerianowuse CNGasanalternativeor complementaryfuel.
TheChiefCompliance OfficerofPiCNG,Mr ZayyanuTambari,made thisknowntotheNews
AgencyofNigeriainAbuja recently
CNGisacleaner,cheaper alternativetopetroland diesel,primarilymethane compressedathigh pressure,usedforvehicles andindustry.Itgained tractionafter2020withthe NationalGasExpansion Programmeandsawa renewedpushwiththe
GereguPowerBoardproposes N9dividendpayment Theboardofdirectorsof GereguPowerPlchas recommendedadividend paymentofN9perordinary share.
Accordingtoastatement signedbyGbeminiyiShoda, thecompanysecretary,the boardalsoapprovedthe organisation'saudited financialstatementsforthe yearendedDecember31, 2025.Theapprovalwas grantedataboardmeeting heldonJanuary15,2026.
“Recommendationofthe paymentof₦9.00per ordinaryshareasdividend, subjecttoshareholders' approvalattheAnnual GeneralMeeting,”the statementreadinpart.
Ifapproved,itwouldbethe firstdividendpaymentto
investorssinceFemi Otedola,Geregu'sexchairman,offloadedhis stakeinthecompany.
GereguPowersaidthe restrictionisinaccordance withprovisionsof17.18(a) oftheclosedperiodrules containedintherulebook ofTheExchange,2015(as amended).
(The Cable, January 17, 2026)
establishmentofPiCNGby PresidentBolaTinubuin 2023,followingtheremoval offuelsubsidies.
Tambarirecalledthatasof 2023,therewereonlyabout 11,000CNG-converted vehiclesinthecountry, addingthattheinitiative aimstoconvertonemillion vehiclesby2027.Hesaid thepresidentialmandate wastoconvertonemillion vehiclesortohaveatleast onemillionvehiclesusing CNG,eitherconverted,
factory-fitted,manufactured inNigeria,orimported,by 2027.
(Punch, January 18, 2026)
Nigeria'scrudeoilpurchasesfrom USriseto42mnbarrels Nigeriasharplyincreased itscrudeoilpurchasesfrom theUnitedStatesin2025, importingatotalof42.13 millionbarrelswithinthe first10monthsoftheyear, accordingtodatafromthe UnitedStatesEnergy InformationAdministration.
Thefigurerepresentsa year-on-yearincreaseof about26.34millionbarrels whencomparedwiththe 15.79millionbarrels importedoverthesame periodin2024.In
percentageterms,Nigeria's crudeimportsfromtheUS rosebyroughly167per cent,underscoringamajor shiftinsourcingpatterns withinasingleyear
Thescaleoftheincrease showsthatNigeriamore thandoubleditsrelianceon UScrude,reflectingboth risingdemandand structuralpressureswithin thedomesticoilsupply chain.
(Punch, January 18, 2026)
AbujaDiscotransitionsinto HoldCo,namesnewsubsidiaries TheAbujaElectricity DistributionPlchas announceditstransitioninto aholdingcompany structure,amoveaimedat strengtheningitscapacityto operateeffectivelywithin Nigeria'sevolving electricitymarketandthe newlydecentralized regulatoryenvironment. Thecompanysaidina
statementthatthe restructuringfollowedthe enactmentoftheElectricity Actof2023,which empowersstate governmentstoestablish independentelectricity marketsandregulatory commissions.Inresponseto theregulatoryshift,AEDC saidithadrealignedits corporatestructureto enhanceoperationalagility,
Dangotesigns$350mndealwith IndianfirmtoexpandLagosrefinery State-ownedEngineers IndiaLtd(EIL)saidon Saturdaythatithasrenewed a$350millioncontractwith Nigeria'sDangoteGroupto supporttheexpansionofthe DangoteRefineryand PetrochemicalsComplexin Lagos.
Theexpansionwillinvolve theadditionofasecond processingtrain,increasing refiningcapacityfrom 650,000barrelsperdayto 1.4millionbarrelsperday, withoutputfocusedonEuro VI-compliantfuels.
Undertherenewed agreement,EILwillserve asprojectmanagement consultant(PMC,)aswell asengineering,procurement andconstruction
management(EPCM) consultant,replicatingthe roleitplayedduringthe refinery'sinitial development,whichwas commissionedin2024.
(Business Insider Africa, January 18, 2026)
improvegovernance,and supportefficientservice deliveryacrossitsfranchise areas.
Aspartofthe transformation,AEDC incorporatedtwonew subsidiarycompanies, NigerElectricity DistributionCompanyand KogiElectricity DistributionCompany.The subsidiarieswilloperate undertheNigerState ElectricityRegulatory CommissionandtheKogi StateElectricityRegulatory Commission,respectively,
whileremainingintegral membersoftheAEDC Group.
(Punch, January 19, 2026)
FGopensapplicationsfor2026 overseasscholarships TheFederalGovernment hasannouncedthe commencementof applicationsforthe2026 PetroleumTechnology DevelopmentFund(PTDF) OverseasScholarship Scheme,providing opportunitiesforNigerian postgraduatestudentsto studyintheUnited Kingdom,Germany, France,andMalaysia.
Thiswasconfirmedina postsharedviaX(formerly Twitter)bytheofficeofthe specialadvisertothe presidentonsocialmedia, DadaOlusegun.
Accordingtothestatement ontheFund'swebsite,the schemetargetsMScand PhDcandidatesin disciplinesrelevanttothe oilandgassector,offering benefitssuchastuition, returnflighttickets, accommodationandliving
allowances,health insurance,andbenchfees whereapplicable.
ForPhDapplicantsinthe UnitedKingdom, scholarshipswillfollowa split-sitearrangement, allowingresearchtobe conductedbetweenthe CollegeofPetroleumand EnergyStudies,Kaduna (CPESK),andselectedUK partneruniversities, includingRobertGordon University,Universityof Strathclyde,andUniversity ofPortsmouth.
(Punch, January 19, 2026)
Seplat'sANOHproject achievesfirstgas SeplatEnergyPlchassaid thatthe300MMcfdANOH gasprojecthasachieved firstgas.Italsonotedthat followingthecompletionof the11-kilometerIndorama GasExportPipelineand receiptofregulatory approvalfromtheNigerian UpstreamPetroleum RegulatoryCommission (NUPRC),ANOHGas ProcessingCompany (AGPC)hascommenced gassupplytoIndorama underafirmand interruptibleofftakegas salesagreements(GSAs).
RogerBrown,chief executiveofficerofSeplat, said,“ANOHisthefirstof thesevencriticalgas developmentprojects identifiedbytheFederal GovernmentofNigeriato commenceoperations.Itis animportantstrategic projectforSeplat,our partnerNGIC,andNigeria
NigeriadefiesAfricadownturn,tops upstreaminvestmentwith$5.3bn Nigeriahasemergedas Sub-SaharanAfrica's leadingupstreamoiland gasinvestmentdestination in2025,attracting$5.3 billionincapitaldespitean 18percentdeclinein upstreamspendingacross theregion,underscoringthe impactofrecentfiscaland regulatoryreforms.
Industryintelligencefirm,
WoodMackenzie.disclosed thatNigeriaretainedthetop spotforupstreamcapital inflows,evenasinvestment activityslowedsharply acrossAfrica.
Notably,onlytwofinal investmentdecisions(FIDs) wererecordedacrossSubSaharanAfricain2025, withNigeriasecuringone
ofthem.TheFIDwas reachedonthe Shell–SunlinkHIField (OML144),ashallowwaternon-associatedgas project,followingthe introductionofNigeria's non-associatedgas(NAG) incentivesin2024.
Theincentivesrestoredthe project'scommercial viabilityandunlocked criticalgasfeedstockfor
asawhole.”
Brownnotedthatithas takenasignificantamount ofcommitmentandhard worktocompletethe project“inapartofthe onshoreNigerDeltawith limitedgaspipeline infrastructure,andweare extremelyproudofthis achievement.”
(BusinessDay, January 20, 2026)
NigeriaLNGLimited, NLNG.Theprojectsignals aclearshiftininvestor confidence.
(SweetcCrude Reports, January 20, 2026)
Nigeria'sgasexportsriseby12% Nigeria'sgasexporthas risenmonth-on-monthby 12percentinDecember 2025to101.913billion standardcubicfeet(scf) from90.689billionscfin November2025.
TheDecember2025export wasworth$344.466billion, amountingtoN482.252 billionatthecurrent exchangerateofN1,400/$.
Thiswasdisclosedbythe NigerianUpstream PetroleumRegulatory Commission(NUPRC)in itslatestgasproduction data.
Accordingtothedata,the nation'stotalgasexport stoodat942.743billionscf in2025,whilethenation's totaldomesticsalesstoodat 780.615billionscf, indicatinganexcessof 162.128billionscfor20.7 percentofthenation's exportoverdomestic supplies.
Also,thedatashowedthat
the101.913bnscfexported inDecemberwasthe highest,whilethe65.732 billionscfexportedin Augustwastheleastin 2025.Similarly,thedata alsoshowedthatthe72.966 billionscfrecordedinMay wasthehighestdomestic sales,whiletheleast domesticsuppliesof56.085 billionscfwererecordedin December2025.
Analystssaidtheincreased gasexportsillustrate Nigeria'scapacityto explore,produceandexport commercialgasfor domesticuseandexportto theinternationalmarket.
(Vanguard, January 20, 2026)
Nigerianportsattract$1.2bn Danishinvestment TheAmbassadorof DenmarktoNigeria,Mr JensHansen,hasstatedthat thecountry,throughAPM Terminals,hasinvested approximately$1.2billion inNigerianports,with planstomakefurther investmentstoexpandits operations.
Thespecialadvisertothe ministerofmarineandblue economy,DrBolaji Akinola,saidMr.Hansen disclosedthisduringa courtesyvisittothe minister,Adegboyega Oyetola,inAbuja.
Speakingduringthevisit,
Localrefineriessupply87% ofNigeria'scookinggasin2025 Localrefineriesandgas processingplants,ledbythe DangotePetroleum RefineryandNLNG Limited,supplied87%of Nigeria'sdomesticliquefied petroleumgas(lPG),also knownascookinggas,in 2025,significantlyreducing thecountry'sdependenceon imports.
FindingsbyVanguard showedthatthesharprise indomesticsupplymarked amajorshiftfrom2023, whenimportedcookinggas accountedforabout47%of totalconsumption.The improvementhasbeen drivenlargelybythe comingonstreamofthe DangotePetroleum
Refinery,increasedLPG outputfromNLNG,and contributionsfromother localplants.
DatafromtheNigerian Midstreamand DownstreamPetroleum RegulatoryAuthority (NMDPRA)indicatedthat atotalof52,900metric tonnesofcookinggaswas suppliedtothedomestic marketin2025.Ofthis volume,45,800metric tonnes,representing87%, wassourcedlocally,while only7,100metrictonnes, or13%,camefrom imports.
(Vanguard, January 21, 2026)
theambassador congratulatedNigeriaonits electionintocategoryCof theInternationalMaritime OrganizationCouncil, describingitasa recognitionofNigeria's growingleadershipin maritimeaffairs.
Heexplainedthat membershipoftheIMO
counciloffersNigeriaa strategicplatformto influenceglobalmaritime policy,contributeto internationalocean governance,andparticipate inkeydecisionson maritimesafety,security, andenvironmental protection.
(Punch, January 22, 2026)
DangotegainsasEurope, USrefineriesclose Theshutdownofrefineries acrossEuropeandNorth Americahastightened globalfuelmarketsand handedNigeria'sDangote refinerygreaterleveragein shapingrefinedproduct balances,accordingto energyintelligencefirm Kpler
Inareport,Kplersaidthe scaleofrefineryexitsin EuropeandNorthAmerica hasstructurallyaltered supplydynamics,noting that“around~900,000bpd ofcapacityintheWestof Suezwaspermanently removedfromthesystem.”
Accordingtothereport, theseshutdownshavehad far-reachingconsequences fortheglobalfuelsupply,as theerosionofbaseline capacityhasreduced operationalflexibilityand amplifiedthemarketimpact
ofoutages,keepingrefined productbalancestightand marginselevated throughoutmuchofthe previousyear.
Kplersaidtheclosureshave beenparticularlysignificant fortheAtlanticBasin, wheretheremovalof Europeancapacityhas increasedrelianceonlatecyclemega-refineriesto stabilisesupply
(Punch, January 22, 2026)
Shellplans$20bninvestmentin BongaSouthWestproject ShellCompaniesinNigeria haverevealedplansto investupto$20billionin theBongaSouthWest deepwateroilproject, signalingrenewedforeign investorconfidencein Nigeria'soilandgassector
Thedisclosurewasmadein arecentremarkbyBashir BayoOjulari,thegroup chiefexecutiveofficerof
NigerianNational PetroleumCompany (NNPC)Limited,after PresidentBolaTinubu receivedShellCompanies' chiefexecutiveofficer,Wael Sawan,atthePresidential VillainAbuja.
Ojularisaidtheproposed investmentwouldhavefarreachingeconomicbenefits, includingjobcreationand
Pinnaclelaunchesfullysynthetic lubricant Oneoftheleading downstreamoilandgas companiesinNigeria, PinnacleOilandGas Limited,haslaunchedits flagshipfullysynthetic lubricant,PIBREUMSN90005W-30,aspartof effortstodeepenits presenceinNigeria's lubricantsmarketandoffer motoristsenhancedengine performanceandprotection.
Theproduct,whichwas officiallyintroducedtothe marketearlierthismonth,is designedtoperform optimallyacrossdiverse drivingconditionsand terrainsinNigeria.
Accordingtoastatementby thecompany,thefully syntheticlubricantdelivers enhancedengine cleanliness,improvedfuel
efficiencyandsuperior protectionagainstwear, evenunderextreme temperaturesandheavydutyoperatingconditions.
PinnaclesaidPIBREUM SN-90005W-30is formulatedwithhighperformancesyntheticbase oilsandadvancedadditive technologyandisendorsed bytheNigerianMidstream andDownstreamPetroleum RegulatoryAuthorityand theStandardsOrganization ofNigeriafornationwide use.
(Punch, January 22, 2026)
therevivaloflong-idlelocal fabricationyards.
Accordingtohim,the improvedinvestment climateundertheTinubu administrationhasrestored confidenceamong internationaloilcompanies. Ojularifurtherexplained thatShellhadalreadybegun discussionsaroundthe BongaSouthWestproject asitsnextmajorfinal investmentdecision(FID), notingthatthedevelopment wouldrequirecloseto$10
billionincapital expenditure,excluding operatingcosts.
(BusinessDay, January 22, 2026)
Tinubuapprovesoildrillingat OgunWaterside OgunState'slong-standing aspirationtobecomeanoilproducingstateissetto materializefollowingthe approvalbyPresidentBola AhmedTinubuforthe commencementof commercialoildrillingat Eba,OgunWaterside.
GovernorDapoAbiodun disclosedthiswhile receivingtheflagofficer commanding,westernnaval command,RearAdmiral AbubakarAbdullahi Mustapha,alongsidesenior officersofthecommand, duringacourtesyvisittohis officeinAbeokuta.The governoralsorevealedthat PresidentTinubuhas approvedtheimmediate take-offoftheOlokola DeepSeaportproject locatedinOgunWaterside LocalGovernmentArea, markingamajor breakthroughafteryearsof
anticipationsurroundingthe multibillion-dollarport development.
AccordingtoGovernor Abiodun,bothprojectsare ofspecialinteresttothe President.Henotedthat whiletheOlokolaDeep Seaportwouldsignificantly decongesttheLagosports, commercialoildrillingat Ebawouldpromote inclusionandeconomic empowermentforresidents ofthecoastalcommunities inOgunState.
(ThisDay, January 22, 2026)
NNPCLaffirmsoiloutputboom overpipelinesecurity TheNigeriaNational PetroleumCorporation Limited(NNPCL)has affirmedthatthe collaborationbetweenhost communitiesoftheTrans NigerPipeline(TNP)and PipelineInfrastructure NigeriaLimited(PINL)has ledtoincreasingoil production,thereby contributingtogreater revenueforthecountry.
Thehead,fieldoperations, easterncorridor,project monitoringoffice,NNPC Limited,Akponime Omojevwhe,madethe affirmationatthefirst editionofthePipeline InfrastructureNigeria Limited(PINL)and HOSCOMsmonthly stakeholdermeetingforthe year2026,heldinPort
FGbansmeterinstallationcharges, threatenssanctions TheFederalGovernment hasbannedelectricity distributioncompaniesand installersfromcollecting anyformofpaymentfor meters,warningthatDisco officialsandinstallersfound extortingcustomerswillbe prosecuted.
Theministerofpower, AdebayoAdelabu,issued thewarningduringanonsiteinspectionofnewly importedsmartmetersat APMTerminals,Apapain Lagos.
Adelabusaidthemeters wereprocuredunderthe WorldBank–funded DistributionSector RecoveryProgrammeand mustbeinstalledfor consumersfreeofcharge, stressingthatanydemand formoneywouldbetreated asanoffence.
Theminister,whowas receivedintotheApapaPort
commandoftheNigerian CustomsServicebyarea controllerEmmanuel Oshoba,expressed happinessoverthe importationofanother trancheof500,000smart metersunderDISREP.
(Punch, January 23 2026)
Harcourt,RiversState. Themonthlymeetingis meanttogetfeedbackfrom stakeholdersand communitypeople regardingtheoperations companiesintheirhost communities.
Omojevwheurgedthe communitiestosustainthe effortinensuringthatthe company'sprojected2.5millionbarrelsperday
productionfortheyear 2026isachieved.
(The Nation, January 23, 2026)
Chevron logsthirdexploration successsince2024 Nigeria'spushtorevitalize itsoilsectorisbearingfruit, withChevronNigeria Limitedannouncingits thirdexplorationsuccess sincelate2024,signaling renewedconfidencein Africa'slargestcrudeoil producer,followingyearsof underinvestmentand regulatoryuncertainty.
TheNigeriaNational PetroleumCompany Limited/ChevronNigeria LimitedJointVenture completedtheAwodi-07 appraisalandexploration wellintheshallowoffshore westernNigerDeltaon December28,discovering approximately675feetof hydrocarbonpayacross multiplereservoirs.The well,whichreachedatotal depthof12,420feetinless thanthreeweeks,hasbeen pluggedandsuspended afterwirelineandfluid samplingoperations.
Thediscoverybreaksdown into310feetofappraisal
reservoirs,matchingpredrillexpectations,and365 feetacrosssixhydrocarbonbearingexplorationsands, unlockingsignificant developmentpotentialinan areawhereexisting infrastructurecanaccelerate productiontimelines.The partnershipunderscoresa strategicshifttoward cooperativedevelopment, followingthepassageofthe PetroleumIndustryAct, whichstreamlinedfiscal termsandregulatory processesthathaddeterred investmentforovera decade.
(BusinessDay, January 23, 2026)
REApartnersLotusBank onrenewableenergyfinancing TheRuralElectrification Agency(REA)andLotus Bankhavemovedtoscale uprenewableenergy financinginNigeria,with planstoestablisha dedicatedfundingfacility undertheDistributed AccessthroughRenewable
EnergyScale-up programme.
REAsaidthedevelopment followedahigh-level meetingbetweenboth institutionsrecently, markingashiftfrom project-by-projectfinancing
SaharaGroupboostscircular economywithrecyclinghub SaharaGroupFoundation, thecorporatesocialimpact armofSaharaGroup,has commissionedits17th SaharaGoRecyclingHub inIbeju-Lekki,LagosState, reinforcingitscommitment tosustainablewaste management,environmental protection,andcommunity empowermentacross Nigeria.
TheSaharaGoRecycling Initiativepromotesa circulareconomyby divertingrecyclablewaste fromlandfills,improving resourcerecovery,and creatingincome opportunitiesfor householdsthroughwasteto-wealthinterventions.
Astatementfromthe
toastructured,large-scale financialframeworkaimed atacceleratingenergy accessnationwide.
Themanagingdirectorof theREA,AbbaAliyu,urged LotusBanktoadoptabold anddeliberateapproachby settingaclearglobal fundingtargetforthe proposedfacility.He stressedthatNigeria's energytransitionwould onlyachievemeaningful impactiffinancingmoved beyondpilotprojectsto supportrapiddeveloper scale-up.
Aliyusaidthenewfacility
Foundationsaidthatthe newlycommissionedhub expandstheFoundation's growingrecyclingfootprint acrossLagos,extending accesstostructured, community-ledrecycling solutionsinemergingurban communities.
(Punch, January 26, 2026)
mustbebackedbystrong internalstandardsanda designthatenables renewableenergy developerstoexpand operationsquicklyacross underservedandunserved communities.
(Punch, January 26, 2026)
NigerState,IslamicDevelopment Bankseal$163mnsolarpowerdeal NRCplansdeployment ofLNG-poweredtrains NigerStateGovernor, UmaruBago,hasreached anagreementwiththe IslamicDevelopmentBank topartneronthe implementationoftheNiger SolarElectrificationProject. Thiswasdisclosedbythe ChiefPressSecretarytothe Governor,BologiIbrahim inarecentstatement.
Theproject,whichisthe firstofitskindinSubSaharanAfrica,willcover 200hectaresoflandand cost$163million,aimedat providinganalternative sourceofpowertomany communities.
Bago,whoreceivedthe preparationmissionteam fortheNigerSolar ElectrificationProject, codenamed'NGA1063,' saidthestategovernment hadinvestedheavilyinthe agriculturalsector,noting
thatthesolarelectrification projectwouldcomplement foodproductionand industrialization.
TheGovernorstatedthat thebank'sdecisiontobuild a100-megawattsolarpower facilityinthestatewasa hugeinvestmentthatwould helpincreaseproductivity andrevenuegenerationand ultimatelypayforitself.He alsonotedthatthe electrificationprojectwould addressmulti-sectoral challenges.
(Punch, January 27, 2026)
TCNincreaseswheeling capacityby38percentin10years AkwaIbomStatehas movedtopositionitselfat theforefrontofNigeria's emergingcleantransport economywiththeflag-off oftheIbomCNGMass TransitTerminalinUyo,a projectexpectedtolower mobilitycosts,stimulate jobsandunlocknew economicactivityacrossthe state.ThisisasGovernor UmoEnohasofficially
commencedconstructionof theterminalatIkotEkpe Offot,Uyo,describingitas astrategicinvestment alignedwithhis administration's infrastructure-ledgrowth agendaandNigeria's broadertransitiontocleaner energy
Thegovernorexplainedthat theIbomCNGMassTransit
TheNigerianRailway Corporation(NRC)has announcedplanstodeploy LiquefiedNaturalGas (LNG)-poweredtrainsand toexpandthenationalrail networkto10,000 kilometresoverthenext fiveyearsasgas infrastructureopensalong keycorridors.
NRCmanagingdirector, Dr.KayodeOpeifa, disclosedthisduringa monitoredtelevised interview,statingthatthe corporationhasconcluded
itsLNGconceptphaseand successfullydemonstrated thetechnologyfor1month, markingamajorstep towardcleaner,more efficientrailoperations.
Opeifanotedthatadopting LNGalignswithNigeria’s gasexpansionagendaand willsignificantlycut operatingcosts,while improvingenergysecurity fortherailsector.
(Vangaurd, January 27, 2026)
Terminalwillserveasa centralhubconnectingUyo toallthe31local governmentareasthrougha fleetofCNG-powered buses,offeringresidentsa cleanerandmoreaffordable alternativetodieselpoweredtransportation.
(SweetCrude Reports, January 27, 2026)
NigeriasettlesN501bn powerdebts NigeriahasraisedN501 billioninitsfirstbondsale dedicatedtoclearingpower sectordebts,achievingfull subscriptionasPresident BolaTinubu's administrationmovesto addresspaymentarrears thathavechokedelectricity generationforovera decade.
Theinauguraltrancheunder thePresidentialPower SectorDebtReduction Programmeclosedwith participationfrompension funds,banksandasset managers,accordingtoOlu ArowoloVerheijen,special advisertothepresidenton energy Theissuance comprisedN300billion fromcapitalmarketsand N201billioninbonds allocateddirectlytopower generationcompanies. Theprogramtargets14 powerplantsoperatedby
fiveelectricitygeneration companiesowedforenergy suppliedbetweenFebruary 2015andMarch2025.Total negotiatedsettlementsstand at827.16billionnaira, payableinfourinstalments, withthefirstbondproceeds fundingapproximately50 percentofobligations throughacombinationof cashandnotes.
(BusinessDay, January 27, 2026)
Nigeria,Türkiyetarget$5bntrade onenergy,others TheRepublicofTürkiyeis targetinga$5billiontrade volumewithNigeria,with thecountry'spresident, RecepTayyipErdogan, sayingthatdiscussionsto actualizethisambitionhave alreadystarted.
Hespokeatajointpress briefingwithPresidentBola AhmedTinubuduringthe NigerianPresident'sstate
visittoTürkiyerecently.
TheCurrenttradevolume betweenthetwonationsis about$2billion,providing theopportunityforTurkey toexportplanes, helicopters,machinery, iron,steelandchemical productstoNigeria.In return,Nigeriaexports crudeoilandagricultural productstoTürkiye.
Mesh-gridsolarprojectextendspower accessto25,000off-gridNigerians Adebtfinancingdealis bringingelectricityto 25,000Nigeriansinremote communities,markinga pivotalmomentfor renewableenergy infrastructureinAfrica's mostpopulousnation.
OkraSolarandInfraCredit announcedthefirst successfuldebtfinancingof amesh-gridprojectunder InfraCredit'sClimate FinanceBlendingFacility, providingFirstElectricwith capitaltoelectrify5,156 householdsandsmall businessesacross20 underservedcommunities. Thetransaction demonstratesthatmesh-grid technologycanattract institutionalinvestment, whilerequiringlower subsidiesthantraditional
mini-gridsystems.
ThedealcomesasNigeria grappleswithsevereenergy deficits,whereanestimated 85millionpeoplelack reliableelectricityaccess. Traditionalgridextension remainseconomically unfeasibleformanyrural areas,creating opportunitiesfordistributed renewablesolutions.
(BusinessDay, January 27, 2026)
PresidentErdogan explainedthatthe establishmentoftheJoint EconomyandTrade Committeebetweenthetwo countrieswillcreate opportunitiestoexpand Turkishinvestmentsin Nigeria.
(Premium News, January 27, 2026)
MutualBenefitAssuranceinvests $64mninoilproducingassets MutualBenefitAssurance Plchassaidthatbesidesits coreinsuranceoperations,it hasdiversifiedintothe energysector,having invested$64million(N96 billion)inaproducingoil assetasahedgeagainst economicvolatility
Thiswasrevealedbythe company'schairman,Dr AkinOgunbiyi,who describedthisasamajor milestoneforafirmthat startedoperationsthree decadesagowithaninitial capitalofapproximatelyN5 million,Ogunbiyisaidthat, goingforward,Mutual Benefitwouldfocusefforts ongrowingitsretailmarket aspartofitsgrowthefforts.
Healsosaidthat,aheadof theJunedeadlinefor recapitalizationofinsurance
firmsinNigeria,Mutual Benefithasalready exceededtheindustry's recapitalizationrequirement andiscurrentlyongrowth trajectory.Accordingto Ogunbiyi,theretailsegment remainslargelyuntapped andpresentssignificant opportunitiesforsustainable expansion.
(ThisDay, January 28, 2026)
SaharaGroupsupportsUNILAG researcherswith$36,000grant SaharaGrouphas reinforceditspushfor sustainabledevelopment andhumancapitalgrowth inAfricawiththeawardof $36,000tothreeacademics oftheUniversityofLagos underits“MakingA Difference”grantscheme.
Thebeneficiaries,Prof. SundayAdebisi,DrVictor OdumuyiwaandProf.
Abdul-HameedSulaimon, wereselectedinthesecond editionofthegrant,which focusesonaddressingyouth unemployment,digital inclusionandinstitutional governance.
AccordingtoSahara Group'sheadofcorporate communications,Bethel Obioma,eachawardee received$12,000toscale
StandardBankcloses$250mn strategicfinancingforAradelEnergy StanbicIBTCCapital Limited,StanbicIBTC BankLimited,andthe StandardBankofSouth AfricaLimitedhave successfullyachieved financialcloseona landmark$250 million financingfacilityforAradel EnergyLimited.
StandardBankactedas globalcoordinatorand bookrunner,leadingthe structuring,execution,and fundingofthefacility.The transactionaffirmsthe bank'sdeepsectoral expertiseandreinforcesits positionasaleading
financierinAfrica'senergy industry.
Thefacilitywasstructured tosupportAradelEnergy's strategicgrowthagenda, includingtheacquisitionof anadditional40percent equityinterestinND WesternLimited(ND Western)fromPetrolin TradingLimited,the refinancingofexistingloan facilities,andthefunding ofincreasedproduction fromtheCompany's existingassetbase.
(BusinessDay, January 28,2026)
projectsthatSaharaGroup saidhavedemonstrated measurableimpactand strongpotentialfor replication.Obiomaadded thattheMADgrantwas designedtosupport practicalacademicsolutions capableofdriving economicgrowth.
(Punch, January 29, 2026)
NUPRCrestrictsbiddersto2oil blocksin2025licensing TheNigerianUpstream PetroleumRegulatory Commission(NUPRC)has unveiledstrictparticipation rulesforthe2025licensing round,limitingeachbidder toamaximumoftwooil andgasblocks,andshifting focusfromspeculative acquisitionstooperators withproventechnicaldepth andfinancialstrength.
Theregulatorsaidthenew frameworkisdesignedto deependevelopment outcomes,accelerate productionandalign Nigeria'supstreamsector withglobalbestpractice. Undertheguidelines, NUPRCsaidprioritywould begiventobiddersthatcan
clearlydemonstratethe technicalcompetenceto operatetheassetsandthe financialcapacitytofund explorationand developmentactivities throughtofirstoilorgas.
Accordingtothe commission,theeraof warehousingassetswithout clearworkprogrammesor fundingplansisover, notingthatblockallocation wouldnolongerbedriven solelybyaggressive biddingbutbytheabilityto delivervaluetotheindustry andtheNigerianeconomy
(ThisDay, January 29, 2026)
Nigerian,Chinesefirmssignpacton powerreform,lithiumvaluechain ThechairmanofSwiber Africa(Nigeria)Group,Dr OrjiUzorKalu,andhis GCL(China)Group counterpart,ZhuGongshan, havesignedanewenergy industryframework cooperationdealinDubai,
UnitedArabEmirates (UAE),settingthestagefor awide-rangingpartnership onpowersystem development,strategic lithiumresource exploitationandindustrial chainintegration.
NigeriaearnsN55.5trnfrom crudeoilsalesin2025 Nigeriagrosslyearnedan averageofN55.5trillion fromcrudeoilsalesin 2025,ananalysisofofficial productionfiguresreleased bytheNigerianUpstream PetroleumRegulatory Commissionandcrude pricedatapublishedbythe CentralBankofNigeriahas shown.
The2025figureishigher whencomparedwiththe N50.88trillionearnedin 2024.NUPRCdataindicate thatNigeriaproduceda totalof530.41million barrelsofcrudeoilbetween JanuaryandDecember 2025,withoutput fluctuatingthroughoutthe yearamidoutages, operationaldisruptions,and
agradualrecoveryinsome producingfields.
TheN55.5trillionwas obtainedbymultiplying 530.41millionbarrelsby theaveragecrudeoilprice of$72.08in2025,and convertingtheresultwith N1,450toadollar.
(Punch, January 29, 2026)
Undertheagreement,both partiesaretopursueindepthcooperationacross energysystem development,lithium resourcedevelopmentand broaderindustrialchain collaboration,amove positionedaspartofthe deepeningpracticalsynergy betweenChinaandNigeria. TheChineseenergyfirm planstofocusonbuildinga new-generationpower systemalongsidethe developmentofalithium batteryindustrychain.The approach,accordingtothe frameworkagreement,is
intendedtoexpandGCL's strategicfootprintalongthe BeltandRoadInitiative framework,while respondingtoNigeria's domesticenergyand industrialpriorities.
(The Guardian, January 29, 2026)
REAtargets1.2millionBenue residentswithsolarpower TheRuralElectrification Agencyhasstatedthat approximately1,207,272 residentsofBenueState wholackaccessto electricitycanbepowered throughsolarmini-gridsas partofeffortstodeepen energyaccessandattract privateinvestmentintothe state'selectricitymarket.
Thiswasdisclosedduring the24thState-by-State High-LevelRoundtable convenedbytheREAin collaborationwiththe BenueStateGovernment. AccordingtoREA,the roundtablewasdesignedto acceleratethe implementationofthe ElectricityAct2023andthe NationalElectrification Strategyand ImplementationPlan,witha focusoncatalyzingdatadriveninvestmentsatthe subnationallevel.
ThegovernorofBenue State,HyacinthAlia,and themanagingdirector/chief
executiveofficerofthe REA,AbbaAliyu, presentedanassessmentof theBenueState'selectricity market,notingthatdata analysisconductedbythe agencyrevealedsignificant opportunitiesforsolarpoweredmini-grid deployment.REAsaidit hasidentified3,821 potentialmini-gridsites acrossthestate,withabout 651communitieshaving morethan100connections, makingthemviablefor privatesector-ledmini-grid development.
(Punch, January 30, 2026)
GereguappointsnewCEO GereguPowerPlchas appointedSeanManleyas itsinterimchiefexecutive officer,effective2February 2026,subjecttothe approvaloftheNigerian ElectricityRegulatory Commission(NERC)and thecompany'sshareholders atthenextgeneralmeeting.
Inanoticefiledonthe NigerianExchange,the companystatedthatManley bringsover30yearsof experienceinthepower sector,withatrackrecord insales,business development,project implementation,supplychainmanagement,and
NNPC’sAbujaIPPvitalto 8,500Mwtarget,saysNISO TheNigerianIndependent SystemOperator(NISO) hasdescribedtheongoing 350megawatt(mw)Abuja gasindependentpower project(IPP)ofthe NigerianNational PetroleumCompany (NNPC)Limitedasavital steptowardachievingthe nationaltargetof8,500Mw gridgenerationcapacityby theendofthisyear
Themanagingdirector/chief executiveofficerofNISO, Engr AbduBello,stated thisduringanon-site assessmentvisittothe projectlocationrecently
Leadingahigh-level managementdelegation,he evaluatedthecurrentstage ofconstructionand identifiedkeyareasfor enhancedcollaborationto
accelerateproject completionandtimely commissioning.
Thevisitalsoincludedan inspectionofthe supervisorycontroland dataacquisition(SCADA) implementationsiteatthe Gwagwaladatransmission substation.
Theteamexpressed confidencethatbeforethe endof2026,thefull electricityvaluechain, fromgenerationthrough transmissiontodistribution willbeintegratedintoa unifiedSCADAplatform, enablingreal-time visibility,improvedgrid monitoring,andenhanced systemreliabilityand stability
(The Nation, January 30, 2026)
originalequipment manufacturer-leddelivery. Hehasextensiveexperience inthermalpower generation,includingplant construction, commissioning,major overhauls,andlong-term operationalsupport.
TheGereguPowerBoard saidhisappointmentis expectedtobringsignificant valuetothecompany throughhisextensive internationalexperienceand leadershipintheenergy
sector.
Manley'sappointmentis partofthecompany's ongoingeffortsto strengthenleadershipand operationaloversightin Nigeria'spowergeneration sector
(Punch, January 30, 2026)
NNPC unveils new gas master plan TheNigerianNational PetroleumCompany Limited(NNPCLtd) onJanuary30unveils itsGasMasterPlan (GMP)2026,aimedat driving industrializationand strengtheningthe nation’senergy security
Theevent,themed “DrivingExponential GrowthThrough Value-Adding PartnershipsandCost Efficiency,”featured thesigningofthe “GMP2026Statement ofCommitment”bythe groupchiefexecutive
officerofNNPCLtd, BashirOjulari. Italsofeaturedthe issuanceandsigningof aministerialstatement bytheministerofstate forpetroleumresources (gas),EkperikpeEkpo.
Alsounveiledwasthe 20millionLiquefied PetroleumGas(LPG) cylindersupply initiativetargetedfor deliveryby2030, alongsidetheNNPC LPGandcylinder supplyexpansion initiative.TheLPG supplyconsortiumalso executedaconsortium agreement.
OjularisaidNigeriahas about210trillioncubic feet(tcf)ofprovengas reserves,withan upsidepotentialofup to600tcf,makingit oneoftheworld’smost significanthydrocarbon basins.
Thegasmasterplan,he said,wasstructuredto exceedthepresidential mandateofincreasing nationalgasproduction to10billionstandard cubicfeetperdayby 2027and12billion standardcubicfeetper dayby2030.
Headdedthatmeeting
thistargetwould catalyzeover$60 billionininvestments acrosstheNigerianoil andgasvaluechainby 2030.
Inhisremarks,the chairmanofthe IndependentPetroleum Producers’Group (IPPG)andchief executiveofficerof AradelHoldings, AdegbiteFalade, reaffirmedthegroup’s commitmentto partneringwithNNPC Ltdtoimplementthe initiative.
(January 30, 2026)
