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Nigerian refineries

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Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

Oil Producers Oppose Mandatory Crude Sales to Local Refineries

Oil producers in Nigeria are pushing back against a government proposal requiring mandatory crude sales to local refineries, citing concerns about profitability and existing contracts.
Business

Tinubu Committee and Dangote Refinery Agree on September Petrol Rollout

Nigeria's government and Dangote Refinery agree on September petrol rollout, shifting crude oil sales to naira.
News

U.S. Crude Oil to Dominate Nigerian Refineries, Economic Impact Unfolds

The United States may soon become the largest crude oil supplier to Nigerian refineries, significantly impacting the nation's economy and energy sector.

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Business

Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

Nigeria opens 2026 licensing round with 40 oil blocks as output hits 1.82 million barrels a day

Nigeria has launched its 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater, as crude and condensate output rises to 1.82 million barrels a day.
News

“Even a pregnant woman suffers”: Ogun’s Oke Sefu residents beg Gov. Abiodun to fix flooded, pothole-ridden road

Residents of Oke Sefu community in Ibafo, Ogun State, are appealing to the state government to repair a flooded, pothole-ridden access road that has disrupted livelihoods.