The Nation Newspaper

Category: Energy

  • Niger Delta Blue Economy partners Caverton to promote safer, climate-friendly water transport

    Niger Delta Blue Economy partners Caverton to promote safer, climate-friendly water transport

    The Niger Delta Blue Economy Investment Summit has entered into a strategic partnership with Caverton Marine to advance safer, more efficient, and climate-conscious marine transportation across the Niger Delta.

    The collaboration was formalised after a high-level meeting between the Summit’s organising committee and Caverton Marine in Lagos. 

    It is designed to tackle longstanding safety concerns on the region’s waterways and accelerate the deployment of modern, low-emission passenger vessels.

    Caverton Marine, an indigenous boat manufacturer and marine logistics provider, has earned national recognition for its contributions to water transport development in Lagos, particularly through public-private partnerships that produced recent world-class passenger ferries for the state government.

    Speaking after the engagement, Cedric Ogwu, a member of the Summit’s organising committee, said the initiative seeks to replicate successful models already delivering results in Lagos.

    He explained that the Summit would provide a platform for governments, investors, and operators to advance infrastructure that improves safety, boosts commuter confidence, and supports sustainable economic activity in coastal communities.

    In his remarks, the Managing Director of Caverton Offshore Group, Bode Makanjuola, welcomed the partnership and described the Summit as timely. 

    He noted that Caverton is already collaborating with some states in the Niger Delta but expressed readiness to expand its footprint in the region.

    Makanjuola added that the company now manufactures passenger boats that meet global safety and quality benchmarks, including fully electric ferries designed to cut operating costs and reduce long-term environmental impact. 

    According to him, many waterway accidents stem from avoidable equipment failures and the use of substandard vessels.

    Co-convener of the Summit, Dr. Uche Igwe, said Caverton’s progress in electric ferry manufacturing aligns directly with global energy transition priorities. 

    He noted that the adoption of electric ferries presents significant opportunities for the Niger Delta in emissions reduction and green investment attraction.

    The Niger Delta Blue Economy Investment Summit will hold from 9–11 February at Four Points by Sheraton Hotel, Ikot Ekpene, Akwa Ibom State. The event will convene policymakers, investors, industry leaders, and development partners to explore investment prospects across the region’s emerging blue economy. High-level speakers, including former Prime Minister of Tunisia, Mehdi Jomaa, have confirmed attendance.

  • Turning reforms to tangible gains

    Turning reforms to tangible gains

    Nigeria’s energy sector this year appears set for a significant transformation, with expected unprecedented stability in the downstream petroleum sector due to domestic refining and a strong push for renewable energy investment. The overall outlook is cautiously optimistic, contingent on effective policy execution and infrastructure development, writes MUYIWA LUCAS and AMBROSE NNAJI.

    The country’s energy sector is looking up to a promising year ahead. After years of production slumps, underinvestment and policy uncertainty, in the closing quarters of 2025, increased crude oil output, improved security conditions in parts of the Niger Delta, regulatory certainty under the Petroleum Industry Act (PIA) gaining traction and operational activity picking up across segments of the value chain, were precursors to hopes for the sector in 2026. The momentum garnered in may have since set the tone for high expectations this year in the sector.

    Stakeholders and economists are optimistic that the oil and gas sector will significantly contribute to Nigeria’s GDP growth and positive external account balance through increased exports. This is why they call for more public-private partnerships (PPPs) and technology transfer to overcome financial and technical hurdles.

    While 2026 looks promising for incremental recovery in the sector, it however hinges heavily on resolving security issues and fully leveraging the PIA to boost investment and output.

    Oil and Gas

    The upstream production is expected to witness modest production growth, driven by infrastructure improvements, pipeline security and gas monetization. While government targets hitting 2.1 million barrels per day (mbpd) production output, analysts remain conservative with a forecast of around 1.7-1.8 mbpd. They however hope that this will get higher following potential restarts of oilfields in Ogoni.

    The implementation of the Petroleum Industry Act (PIA) and renewed upstream investment will equally impact on the sector this year.

    In the downstream sector, the steady operation of the Dangote Refinery is expected to be a major factor, potentially supplying 60 per cent to 75 per cent of national fuel needs from domestic sources in Q1 2026. This is projected to ease pressure on foreign reserves and stabilise petrol pricing within a band of N800 to N900 per liter.

    The anticipated glut in the oil market, following the US action in Venezuela, will further keep petrol prices steady barring any government policy that may lead otherwise, like the implementation of the 15 per cent ad valorem tax on petrol.

    This fear has been further confirmed by the International Energy Agency (IEA), which forecasts a record high glut in the crude oil market this year, with supply outpacing demand growth by a staggering 3.84 million barrels per day. This oversupply dynamic is the primary headwind, driving prices down and compressing the revenue potential for incremental barrels.

    This is why analysts at AInvest submit that the global oil market is entering 2026 with a fundamental imbalance that directly threatens the value of any new production, including Nigeria’s.

    “The policy environment is volatile and reactive. While OPEC+ has paused its planned output hikes for the first quarter of 2026, the group still maintains a significant 3.24 million barrels per day of output cuts in place. This creates a precarious balancing act where the market is held in check by a large but potentially adjustable floor of supply. The group’s cohesion is tested by internal tensions, yet its decisions will be the key variable in determining whether the glut is absorbed or deepens.

    “This oversupply is already pressuring prices. The IEA’s forecast suggests the Brent crude oil price will fall to an average of $55 per barrel in 2026. For a producer like Nigeria, this means the economic value of its production gains is being severely undermined. Even if output increases, the revenue per barrel is forecast to decline, turning a potential upside into a muted or even negative financial outcome. The bottom line is that external market forces are creating a structural ceiling on oil prices, making it exceptionally difficult for new supply to find profitable demand,” the AInvest editorial team argued.

    NNPCL Group Chief Executive Officer, Bayo Ojulari, described the 2026 outlook as encouraging, citing improved asset integrity, reactivation of shut-in wells and better coordination with security agencies.

    “The direction of travel is positive,” Ojulari said, projecting gradual progress toward the government’s medium-term ambition of crossing two million barrels per day.

    Yet analysts caution that production targets alone do not tell the full story. The experience of 2025 exposed persistent vulnerabilities beneath the recovery numbers. Improved surveillance and community engagement reduced crude oil theft, but claims of near-total success remain largely unverified.

    For government officials and industry operators, these developments signal a sector regaining its footing. For independent analysts and economists, however, the recovery remains fragile, uneven and vulnerable to reversal.

    “Recovery must not be mistaken for transformation,” Professor Emeritus of Petroleum Economics and Executive Director of the Emmanuel Egbogah Foundation, Abuja, Wumi Iledare, warned.

    According to him, the defining question for 2026 is not whether Nigeria can produce more oil or gas in the short term, but whether it can finally build the institutional discipline needed to sustain performance.

    This tension—between optimism and realism—frames expectations for Nigeria’s oil and gas industry in 2026. The year is shaping up less as a moment for dramatic breakthroughs than as a test of consolidation: securing hard-won gains, closing governance gaps, and proving that reforms can outlive political cycles and headlines.

    “In 2026, the industry must move from administrative estimates to independently auditable measurement systems. Investors, lenders and fiscal authorities need credible data, not optimistic approximations,” Iledare insists.

    According to Iledare, there is also growing pressure for rig activity to translate into actual barrels. Growth figures inflated by low base effects—following years of suppressed production—will no longer suffice. Expectations for 2026 he notes include disciplined capital deployment, prioritisation of brownfield assets and predictable evacuation infrastructure, without these, upstream optimism risks remaining fragile.

    Global concerns

    Yet, there are concerns of global market glut which the country is not immuned against. This concern has been further accentuated by the US takeover of Venezuela oil sector. This further exacerbates the global supply shock that deepens the existing price glut. Energy markets enter 2026 in a downbeat mood, with the International Energy Agency forecasting supply to exceed demand in 2026 by a head-spinning 3.85 million barrels per day.

    This oversupply dynamic is the dominant threat. AInvest argued that a failure of OPEC+ cohesion or a geopolitical shock, such as a Russia-Ukraine peace deal could further increase global supply. It noted that the group has already paused output hikes for the first quarter of 2026, but the underlying tension over production quotas remains. “If a peace deal materialises and sanctions on Russia ease, it would add another significant source of crude to an already glutted market, putting severe downward pressure on prices. For Nigeria, which is trying to boost output to two million b/d, this would be a direct blow to its fiscal and economic recovery plans,” AInvest said.

    Read Also: Tax Reforms Act: Groups name speaker Tajudeen Abbas as Man of the Year

    Gas

    While fossil fuels will remain central to Nigeria’s economy in 2026, energy transition pressures are reshaping strategy. Gas-to-power projects, petrochemicals and decarbonisation initiatives are increasingly paired with traditional oil and gas operations.

    Regulatory policies, evolving carbon markets and global investment trends are gradually pushing some capital toward lower-carbon solutions—even as producers maintain core hydrocarbon businesses.

    For Nigeria, analysts say the challenge is balance: leveraging oil and gas for development while preparing for a more carbon-constrained global energy system.

    In the aspect of gas infrastructure, a pivotal milestone for the year is the anticipated commissioning and “first gas” of the OB3 gas pipeline, which would unlock significant east-west gas balancing and boost supply to power plants.

    Besides, the government is expected to continue to prioritise major gas projects like the Ajaokuta–Kaduna–Kano (AKK) pipeline as well as developing midstream and downstream infrastructure to enhance energy security. 

    Power and Renewables

    Government is working with partners, including the UN and the Dutch government, and has secured a $1.1 billion facility from the African Development Bank (AfDB) to expand electricity access by the end of 2026.

    Although the national grid experienced relative stability last year, improvement is still expected to be sustained in this regard. The government aims to add 4,000 MW of electricity generation capacity in 2026, a critical step to address persistent shortfalls; current generation hovers around 4,000-5,000 MW from an installed capacity of over 12,000 MW.

    Renewable energy growth

    The renewables and clean energy sector is projected to grow at a CAGR of 13.2 per cent from 2021 to 2026. The Federal Government has pledged massive investment in this area, building on the “Renewed Hope Solarisation Programme” to provide power to unserved and underserved communities.

    Metering and grid modernisation

    There is a significant push for rapid deployment of smart meters to close the metering gap, a key trend in modernising Nigeria’s power infrastructure. The government intends for 2026 to be a pivotal year in closing the national metering deficit, which stood at over five million customers without meters as of late 2025.

    This year, through the Presidential Metering Initiative (PMI) and the Distribution Sector Recovery Programme (DISREP), which aim to provide millions of free meters, government aims to close the metering gap.  The PMI is a high-priority, direct presidential intervention with secured funding of approximately N700 billion from the Federation Account Allocation Committee (FAAC) to roll out an estimated two million meters annually for five years, with an overall target of installing up to 18 million meters.

    DISREP, an initiative backed by a $500 million World Bank loan, targets delivery of over 3.2 million meters by the end of 2026 through various procurement models, including international competitive bidding (ICB) and national competitive bidding (NCB).

    The combined efforts of the PMI and DISREP are expected to significantly accelerate the pace of meter installations beyond previous years’ averages.

    Challenges

    Yet, the challenges of resolving liquidity issues and outstanding debts to gas producers, managing potential global oil price volatility and mitigating the risks of pipeline sabotage stares the country and sector in the face this year. Experts say overcoming these is hinged on disciplined policy execution, transparency in subsidy management and attracting foreign direct investment (FDI).

    Still, 2026 is shaping up as a test of institutions. According to stakeholders, strong regulatory guardrails, empowered boards and accountable leadership are no longer optional. Nigeria’s oil and gas industry, they argued, is too strategic to be managed through episodic interventions or personality-driven reforms.

    “The lesson from 2025 is clear. Announcements do not substitute for institutions. Recovery without endurance is reversible,” Iledare said.

    The road ahead

    As 2026 unfolds, expectations for Nigeria’s oil and gas industry are sober but demanding. Though his is attainable, but there are things to be done: Consolidate security gains; anchor production recovery structurally; govern downstream reforms with neutrality; deliver gas infrastructure with discipline; translate barrels into revenue.

    “Above all, let institutions—not slogans or short-term targets—drive outcomes. If 2025 was about re-anchoring, 2026 must be about proof: proof that Nigeria’s oil and gas sector can finally sustain progress- quietly, credibly and consistently,” Iledare admonished.

  • NNPCL debt forgiveness: Group tackles ADC over comments on President’s Constitutional powers

    NNPCL debt forgiveness: Group tackles ADC over comments on President’s Constitutional powers

    The Centre for Energy Governance and Public Finance Accountability has strongly rebutted claims by the African Democratic Congress (ADC) regarding President Bola Ahmed Tinubu’s approval for reconciling and removing legacy balances owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) from the Federation Account. 

    During a press conference at Transcorp Hilton in Abuja on Friday, the group described the ADC’s allegations as unfounded and misleading, emphasizing that the action was not an arbitrary debt forgiveness but a necessary fiscal reconciliation.

    The controversy stems from the President’s directive to remove approximately $1.42 billion and N5.57 trillion in legacy entries from the Federation Account books. 

    These balances, accumulated over decades, include unresolved disputes from production sharing contracts, fuel subsidy obligations, and royalty assessments predating the Petroleum Industry Act (PIA). 

    The Centre argued that maintaining these disputed figures distorted public finances and created unrealistic expectations for revenue distribution among federal, state, and local governments.

    Official records indicate that the reconciliation involved key institutions, including the Federation Account Allocation Committee (FAAC), and focused solely on balances up to December 31, 2024. 

    Executive Director Dr Opialu Fabian stressed that no actual cash was withdrawn from allocations, as these were not collectible revenues but accounting distortions that had persisted despite multiple audits.

    “The Centre for Energy Governance and Public Finance Accountability has convened this important press conference to respond to unfounded claims by the African Democratic Congress (ADC) concerning President Bola Ahmed Tinubu’s approval of the reconciliation and removal of certain legacy balances attributed to the Nigerian National Petroleum Company Limited (NNPC Ltd) from the Federation Account,” the statement said. 

    “The debate has been framed as a constitutional crisis and a deliberate deprivation of revenue due to states and local governments. Given the gravity of such allegations, it is important to ground this conversation in facts, law, and the historical context of Nigeria’s petroleum revenue administration.

    Read Also: Debt forgiveness for NNPCL

    “It is crucial to note that the balances in question are not recent revenues generated under the current administration. They are long-standing legacy entries accumulated over decades, many of them arising before the enactment of the Petroleum Industry Act (PIA). 

    “These entries stem from unresolved production sharing contract disputes, domestic crude supply obligations under the fuel subsidy regime, royalty assessment disagreements, and persistent reconciliation gaps between NNPC, regulators, and revenue agencies.”

    Critics, including the ADC, have invoked Section 162 of the Nigerian Constitution, claiming the President overstepped his authority by approving the removal without broader legislative input. 

    However, the Centre countered that the section pertains only to valid, payable revenues, not disputed or unverifiable claims that could turn the Federation Account into a “repository for accounting fiction.”

    This move aligns with PIA reforms aimed at transforming NNPC Ltd into a commercially viable entity under international accounting standards. By addressing these legacy issues, the administration seeks to enhance fiscal transparency and predictability, benefiting all government tiers through more accurate revenue projections.

    “For years, these balances remained on the Federation Account books despite repeated audits and reviews that questioned their accuracy, legal enforceability, and collectability. Treating such disputed figures as assured income created a distorted picture of public finances and fostered unrealistic revenue expectations across all tiers of government,” Fabian added. 

    “Contrary to claims of an arbitrary executive write-off, the President’s approval followed a formal reconciliation process involving relevant fiscal and regulatory institutions, including presentations made to the Federation Account Allocation Committee (FAAC).

    “Official records show that approximately $1.42 billion and N5.57 trillion were removed from the Federation Account books after reconciliation established that these figures were either duplicated, overstated, unsupported by verifiable documentation, or no longer legally recoverable. The directive applied strictly to legacy balances accumulated up to December 31, 2024.”

  • NUPRC, NMDPRA meet to resolve overlapping issues

    NUPRC, NMDPRA meet to resolve overlapping issues

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have pledged deeper cooperation to streamline regulation, resolve overlapping issues and attract greater investment into Nigeria’s oil and gas industry. 

     The commitment was sealed during a high-level meeting at NUPRC headquarters in Abuja where both agencies agreed to establish dedicated liaison teams and institute quarterly joint meetings to proactively address regulatory challenges.

    NUPRC Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, described the oil and gas sector as “the heartbeat of the nation’s economy” and stressed that seamless collaboration between the two regulators is indispensable for sustained growth. 

    READ ALSO: Senator Kalu replies Otti, says Tinubu, APC will win Abia in 2027

     “We are enablers for the industry,” she said. “Sometimes there is no fine line between upstream, midstream, and downstream. If we are not working together, that becomes a problem. Today marks the beginning of many more productive interactions as we put forces together to ensure the industry grows astronomically.” 

    Eyesan also invited NMDPRA to support the ongoing 2025/2026 licensing round, which offers 50 oil and gas blocks, and extended a formal invitation to the Authority Chief Executive to attend the pre-bid conference scheduled for January 14, 2026, at Eko Hotels and Suites, Lagos. 

    In response, NMDPRA Authority Chief Executive, Engr. Saidu Aliyu Mohammed, highlighted the shared heritage of both agencies as successors to the former Department of Petroleum Resources (DPR). He called for stronger “brother-and-sister” relations and urged that any differences be resolved internally and amicably.

  • Abigborodo reaffirms ownership of PPL 220 oil field, dismisses Sapele Okpe’s claims

    Abigborodo reaffirms ownership of PPL 220 oil field, dismisses Sapele Okpe’s claims

    The Abigborodo community has restated its ownership of Ugbekoko, Uton Iyatsere and all lands comprising the PPL 220 oil field, rejecting recent claims by leaders of the Sapele Okpe community as baseless and misleading.

    In a detailed position paper, the Chairman of the Abigborodo Management Committee, Hon. Misan Ukubeyinje, faulted assertions published on an online platform which called on the Federal Ministry of Environment, oil companies and other government authorities to disregard Abigborodo’s claim and alter the long-established name of PPL 220.

    Ukubeyinje described the claims as legally untenable, historically inaccurate and unsupported by verifiable documentary evidence, insisting that Abigborodo remains the rightful owner of the oil field and the adjoining communities.

    He said colonial records obtained from the National Archives in Ibadan, and cited in correspondence by Emmanuel Oritsejolomi Uduaghan, the Alema of Warri Kingdom, clearly establish Abigborodo’s ownership of Ugbekoko and Uton Iyatsere.

    According to him, the records include judicial proceedings and official investigations conducted by British colonial authorities, which upheld the claims of Abigborodo leaders to the disputed areas.

    The Abigborodo chairman further stated that Itsekiri communities, including Abigborodo, Obotie, Aruwun, Ogorode, Ajimele, Ogwanja and Aja-Ojigwo, were aboriginal settlements in Sapele long before the migration of the Okpe people from Orerokpe in the early 1900s. 

    He cited colonial intelligence reports documenting the Okpe migration between 1900 and 1907, noting that Sapele had already been established as a British colonial administrative and commercial centre by 1891.

    He also referenced a 1940 judgment of a colonial magistrate court which discharged Abigborodo farmers accused of trespass within the Okpe-Sobo forest reserve, as well as protest letters written in the 1930s by the Olu of Warri and the Alema of Warri. Ukubeyinje said these petitions were investigated by the colonial administration and resolved in favour of Abigborodo.

    Ukubeyinje dismissed arguments that Abigborodo land does not extend into Sapele Local Government Area, explaining that administrative or political boundaries created for governance purposes do not extinguish ancestral land ownership, which predates the creation of local governments and even Nigeria as a sovereign nation.

    He also cited the 2021 Judicial Panel of Enquiry into the Okpe-Urhobo forest reserve, which recognised Ugbekoko, Obotie and Aja-Ojigwo as Itsekiri communities and affirmed Uton Iyatsere as an Itsekiri settlement.

    Read Also: Land dispute: Abigborodo community asks Sapele Okpe to provide proof of ownership

    Raising concerns over reports of a closed-door meeting allegedly involving the Delta State Commissioner for Oil and Gas, Navante Exploration and Production Limited and representatives of the Sapele Okpe community, Ukubeyinje said such an action, if true, amounted to institutional bias. 

    He questioned the authority of any government official to direct the renaming of a long-established and gazetted oil field.

    He maintained that extensive research, independent investigations and stakeholder consultations were conducted before the naming of PPL 220, adding that no individual or agency has the legal power to alter its name.

    Ukubeyinje insisted that the PPL 220 oil field lies entirely within Abigborodo land, that those to be directly impacted by oil operations are Abigborodo people of Itsekiri extraction, and described the Sapele Okpe claim as trespass.

    He therefore called on the Minister of Environment, the Nigerian Upstream Petroleum Regulatory Commission, the Minister of Petroleum Resources, the Delta State Government and other relevant authorities to disregard the claims of the Sapele Okpe Community and uphold the position of the Alema of Warri Kingdom on the rightful ownership and naming of the PPL 220 oil field.

  • CORAN backs downstream, says policy neutrality no longer enough

    CORAN backs downstream, says policy neutrality no longer enough

    The Crude Oil Refinery Owners Association of Nigeria (CORAN) has expressed  confidence in Nigeria’s downstream petroleum sector.

    It declared  that the industry has reached a defining moment where policy neutrality can no longer drive sustainable growth.

    In a statement  on Monday titled: “True Faith in Nigeria’s Downstream: Why Local Refinery Companies Built While Importers Traded,” the association said Nigeria is gradually moving away from decades of structural dependence on imported petroleum products towards a locally driven refining industry, although significant challenges remain.

    CORAN noted that after years marked by fuel subsidy distortions, massive foreign exchange losses and weak domestic refining capacity, the emergence of local refinery investments has reopened a crucial national debate: who has truly demonstrated faith in Nigeria’s downstream sector, those who built refineries or those who relied on fuel importation?

    According to the association, the answer lies in capital commitment, risk exposure and long-term investment behaviour rather than rhetoric or market positioning.

    “The faith in an economy is best measured by what investors are willing to build and what risks they are prepared to carry over time,” CORAN said.

    It explained that local refinery companies, ranging from large-scale plants to mid-sized and modular refineries, have committed huge capital to fixed industrial infrastructure within Nigeria. Refining, it stressed, is one of the most capital-intensive and risk-exposed segments of the petroleum value chain.

    “Investors must contend with construction and commissioning risks, uncertainties around crude supply, foreign exchange volatility, power and logistics constraints, evacuation challenges, regulatory inconsistencies and evolving policy frameworks,” the association stated.

    CORAN added that once built, a refinery represents immobile capital that cannot be easily relocated, sold or exited without heavy losses. Beyond construction, refineries require strict operational discipline, compliance with product specifications, environmental responsibility, host community engagement and sustained participation in the domestic market.

    “In this sense, refining is not a trading strategy but an industrial commitment,” CORAN said, noting that local refinery companies have collectively invested tens of billions of dollars in downstream assets whose value depends on Nigeria succeeding as an energy-secure and industrialised economy.

    By contrast, the association observed that Nigeria’s downstream sector over the past three decades has been dominated by an import-dependent trading model that failed to deliver structural progress. During the fuel subsidy era, petroleum importation became highly lucrative, driven by price arbitrage, preferential access to foreign exchange, weak consumption verification and subsidy reimbursement systems.

    CORAN recalled that several investigations revealed Nigeria paid for volumes of Premium Motor Spirit (PMS) far above realistic domestic consumption, costing the country billions of dollars in a short period. Despite the enormous profits generated during this era, reinvestment into domestic refining capacity largely failed to materialise.

    Quoting data from the National Bureau of Statistics (NBS), CORAN said Nigeria imported over 20 billion litres of PMS in 2023, only slightly below 2022 levels, showing how deeply entrenched the import model remains even after subsidy removal.

    It added that trade data reported by Reuters indicate petrol imports rose to about ₦15.4 trillion in 2024, more than double the ₦7.5 trillion recorded in 2023, representing massive foreign exchange outflows.

    “These resources could have circulated within the domestic economy through refining operations, logistics, storage infrastructure, petrochemical development and industrial employment,” the association said, arguing that importation consumed national wealth without building enduring capacity.

    CORAN also questioned the destination of fortunes accumulated during the importer-dominated era, noting that if importation reflected genuine belief in Nigeria’s downstream potential, substantial reinvestment into refining and processing infrastructure would have followed.

    “Instead, capital largely flowed into real estate, financial assets and other non-productive investments, as well as upstream acquisitions where crude was often sold to international traders rather than refined locally,” it said.

    The association noted that Nigeria is now facing the consequences of two contrasting downstream philosophies: local refinery operators focused on domestic value addition, energy security and long-term resilience, and import-reliant operators whose business models depend on access to ports, foreign exchange windows and permissive import regimes.

    Acknowledging that both groups contribute to the economy, CORAN said their positions diverge sharply during policy reform discussions. According to the association, local refiners advocate transparent crude supply mechanisms, coherent pricing and foreign exchange policies, and conditional import controls when domestic capacity can meet demand, while importers often push for unrestricted import access.

    As the umbrella body for Nigeria’s refining industry, CORAN insisted that the country has reached a stage where deliberate policy choices are required. It called for guaranteed and transparent crude supply to domestic refineries through enforceable, rule-based allocation mechanisms insulated from discretion.

    It also advocated conditional import licensing, stressing that imports should serve only as a balancing tool rather than a default option where local refining meets volume and specification requirements. In addition, CORAN urged alignment of foreign exchange and pricing policies to prevent structural disadvantages for local refiners.

    Read Also: CORAN urges govt to protect local refineries from unfair competition

    “This is a wake-up call for clear policy differentiation. Companies that refine locally should not be treated the same as those limited to importation,” the association said, adding that such measures are standard industrial policy tools in serious energy-producing economies, not protectionism.

    CORAN stressed that the debate is not about corporate rivalry but about the kind of downstream sector Nigeria wants to build. It warned that continued reliance on imports exposes the country to foreign exchange shocks, supply disruptions and fiscal instability, while supporting local refining strengthens energy security, creates skilled jobs and deepens industrial capacity.

    In conclusion, the association said local refinery companies have already answered the question of faith through concrete actions by building plants and committing capital within Nigeria, while the importer model historically relied on cargoes and margins.

    “As Nigeria charts the future of its downstream sector, policy must align with demonstrated commitment. In the downstream petroleum industry, faith is defined not by claims or trading volumes, but by what is built, what is sustained and what investors are willing to risk in the national interest,” CORAN said.

  • Warri monarch to environment ministry: Abigborodo oil field rightly named

    Warri monarch to environment ministry: Abigborodo oil field rightly named

    The Alema of Warri Kingdom, Chief Emmanuel Oritsejolomi Uduaghan, has asked the Federal Ministry of Environment to discountenance the protests by the Udogun Okpe (Orode-in-Council) over the naming and location of the proposed Abigborodo oil field, insisting that the field rightly belongs to Abigborodo Community in Warri North Local Government Area of Delta State.

    In a detailed rejoinder addressed to the Minister of Environment and the Permanent Secretary, Uduaghan said claims published by the Okpe leadership in relation to the Environmental Impact Assessment (EIA) public display for the proposed Abigborodo Field in PPL 220 by Navante Exploration and Production Limited were riddled with “half-truths and outright falsehoods” and required urgent correction in the interest of history and due process.

    The Warri monarch, who administers Abigborodo, Ugbekoko and Utonyatserre under the overlordship of the Olu of Warri, Ogiame Atuwatse III, maintained that the Abigborodo oil field, as identified by Navante, was correctly named and located, noting that the field was previously operated by Chevron Nigeria Limited, which recognised Abigborodo community as the host and rightful landowners.

    He traced the dispute to colonial-era records, stressing that the Udogun Okpe never administered the Okpe-Sobo Forest Reserve. 

    According to him, documentary evidence from 1931 shows that Okpe authorities themselves informed colonial administrators that they had no land to contribute to the proposed forest reserve, a position backed by certified records from the National Archives in Ibadan.

    Uduaghan further explained that when the Okpe-Sobo Forest Reserve was being constituted, representatives of the Olu of Warri wrote to the colonial government in July 1932, asserting that the land in question belonged to the Itsekiri nation and requesting the cancellation of the reserve. 

    Although the request was ignored and the reserve constituted, Abigborodo indigenes continued to farm on the land, leading to arrests and a landmark court case in Sapele in March 1940, where a magistrate discharged and acquitted the farmers after affirming Abigborodo ownership.

    He added that subsequent petitions by the then Alema of Warri, Okenedo, prompted investigations by colonial authorities, which upheld Abigborodo’s claims, produced sketch maps of excised Abigborodo lands, and led to formal recommendations and legal instruments redefining forest reserve boundaries under the Forest Ordinance.

    The Alema disclosed that the Delta State Government later released additional land to Abigborodo community in 1996, while security investigations, judicial panels and state-led probes, including one ordered by former Governor Ifeanyi Okowa, confirmed cases of encroachment and upheld Abigborodo’s ownership of the disputed land.

    He also dismissed arguments that natural features such as “Hole in the Creek” separate Abigborodo from the area, insisting that Abigborodo land extends into parts of Sapele Local Government Area and that historical records affirm Sapele as Itsekiri territory. Court decisions, he added, have equally rejected claims of a “Sapele Okpe Community land.”

    Uduaghan stressed that the EIA public display by the Federal Ministry of Environment was strictly an environmental assessment exercise and not a platform to reopen settled land ownership issues, noting that the naming of Abigborodo Field PPL 220 followed established industry and historical practice.

    He concluded that all demands and objections raised by the Udogun Okpe were unfounded, reiterating that the land belongs to Abigborodo community and assuring the Federal Government and stakeholders that the community would guarantee a peaceful and seamless operational environment for Navante Exploration and Production Limited.

  • ECN DG commends Tinubu’s energy reforms, calls for public support

    ECN DG commends Tinubu’s energy reforms, calls for public support

    The Director-General of the Energy Commission of Nigeria (ECN), Dr Mustapha Abdullahi, has praised President Bola Ahmed Tinubu for what he described as well-conceived energy reforms under the Renewed Hope Agenda, urging Nigerians to support the President to ensure their full implementation.

    Dr Abdullahi said the initiatives have continued to positively impact Nigerians and reposition the country on the path of sustainable development.

    In his New Year message to Nigerians, the ECN boss stated that President Bola Ahmed Tinubu’s visionary Renewed Hope Agenda aims to reposition Nigeria and restore its glory and bring it back to its enviable position as a country of destination to both local and international investors and the investment community.

    He added that the agenda is gradually becoming the driving point for Nigerians seeking a better country and society.

    Dr Abdullahi noted that President Tinubu’s commitment to ensuring access to renewable and sustainable energy across the country has led to the revival of the Energy Commission of Nigeria, which he said had previously been neglected.

    According to him, “President Tinubu’s well thought-out plans to ensure that all Nigerians get access to renewable energy and sustainable energy supply to their homes and offices birthed the reawakening of the Energy Commission of Nigeria, ECN, which had been pushed to a near comatose state.”

    He further said the President’s strong belief in his policies is driving wide-ranging reforms in the energy sector. 

    “His ambitious and unshaken belief in his policies is spearheading transformative reforms and innovative initiatives to advance the nation’s energy transition,” he said.

    He added that the reforms are aimed at unlocking economic growth, promoting sustainable development and improving energy access nationwide.

    Dr Abdullahi also highlighted President Tinubu’s role as Chairman of the ECN, noting that President Tinubu remains deeply committed to driving the Energy Transition Plan, a core component of his Renewed Hope Agenda. 

    He explained that the President’s leadership underscores the importance of clean energy and strategic reforms in building a resilient energy sector.

    Describing the reforms as a clear signal of Nigeria’s global ambitions, he said, “This commitment is a firm exposition of Nigeria’s ambition to become a global leader in sustainable energy solutions while fostering economic progress and environmental stewardship.”

    He however called on Nigerians to rally behind the President.

    He said, “For this enviable and laudable project to be fully realised, Nigerians need to ensure that President Bola Ahmed Tinubu enjoys their total support to see it actualised.”

  • Group urges transparency as Yari assumes Geregu Power board role

    Group urges transparency as Yari assumes Geregu Power board role

    A civil society coalition has called for greater transparency from Abdulaziz Yari, former governor of Zamfara State, following his recent appointment as chairman of the board of Geregu Power Plc.

    The group, Coalition for Public Asset Accountability (CPAA), said the appointment has drawn public attention to the importance of openness and accountability when former public office holders take on influential roles in the private sector.

    In a statement issued in Lagos on Wednesday, the president of the coalition, Comrade Olumide Adebanjo, encouraged Yari to support public confidence. 

    According to the statement, Yari’s new position in a key sector of the economy has renewed conversations around governance standards, asset management and financial transparency associated with public service.

    The coalition stressed that it does not oppose Yari’s participation in the private sector, but maintained that transparency is essential for sustaining trust when former public officials transition into major corporate leadership roles.

    Adebanjo said individuals who have held high public office have a continuing responsibility to promote openness, noting that clear disclosure helps strengthen democratic institutions and public confidence.

    The group noted that transparency around past governance contributes to broader efforts to improve public trust and institutional credibility.

    The coalition added that developments surrounding leadership changes in major corporate entities naturally attract public interest, and emphasised that ethical standards are important in both public service and private enterprise.

    CPAA urged oversight institutions, including the CCB and relevant anti-corruption agencies, to carry out their statutory responsibilities in a professional and impartial manner.

    According to the group, addressing transparency issues openly helps bridge the gap between public office and private influence and supports responsible leadership across sectors.

  • “No Gree…” Here for Good

    “No Gree…” Here for Good

    By Tunde Akanni

    “Like play…”, as they say, Dangote emerges the Man of the Year 2025!  A consumerist perspective, you may say. 

    But who could have imagined that the 2024 Gen Zs’ “no greefor anybody” slogan would get a lease of life from the least likely quarter? Dangote volunteered. He tore through the muscles of powerful oil sectors’ big men. Only one was in sight but big ones fell! And even a third. Dangote no gree for anybody.   He has come to reaffirm his conquest of the sector. May the conquest signal better future for citizens.

    Yeah, unlike POTUS Trump, Nigeria’s Aliko Dangote, ran an unusual race and breasted the tape. By all means, Trump, strangely, sought the Nobel Peace Prize this year, 2025 but it all ended in praise. For the judges, as you know, who reaffirmed their consistency by giving it to the deserving, a Venezuelan, Maria Corina Machado. May Venezuela survive the raging oil-induced envy.

    Aliko Dangote, serial winner on all choice business fronts, renowned for his relentlessly expansionist business drive was about being stopped from clinching my nomination by some feeble appointee like that, Farouk Ahmed. Comparatively feeble, yes. Engineer Ahmed, long sworn against the welfare of the multitude was up to some vicious machination he planned to inflict on Nigerians again, this Yuletide season. But God had a better plan for Nigerians. Far, from Ahmed’s. Indeed, superior. Until recently, he was the Chief Executive Officer, CEO, of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.

    To the extreme delight of many Nigerians, Dangote announced a slashed price for fuel by as much as almost #200. Ahmed and company wanted a different, constraining deal for Nigerians and even started cooking some sentiments.  There was no stopping daring Dangote. He had tolerated Ahmed and company enough.

    In the heat of the moment, Dangote alerted Nigerians to the fact that Engineer Ahmed as the head of NMDPRA preferred the regime of continued imporation of fuel which impliedly wouldmean prolonged era of high price of fuel at possibly #1000 per litre very soon. Meanwhile, Dangote is here with the offer of #739 pump-head price deriving from #699 gantry price from which #300 accrues to the government on every litre. 

    Without mincing words, Dangote said the otherwise unprintable, alleging Engineer Ahmed’s overindulgence in messy corruption but Dangote would not play ball to sustain and would rather spill all beans. After what looked like the initial threats by Dangote,and Ahmed did not seem to be ruffled, Dangote got his lawyer, a Senior Advocate of Nigeria, SAN, to file a formal complaint against the stubborn perpetrator of the anti-people officialdom. It finally became public knowledge that this character had been living beyond his means at the expense of what he could hardly defend. The onus is now on the Independent Corrupt Practice Commission, ICPC, to do all verification for the world to know the villain further

    Few months back, Ahmed and company had played a fast one on the entire nation claiming the Port Harcourt refinery long abandoned and declared a ne’er do well by the legendary Obasanjo, was back in good shape. Nah!

    They conjured it all and made it look real, televising all the falsehoods for the world to lap up. Only for them to recoil after giving so much life to sheer deceit. But who knows how much would have been gulped by the show of shame mounted by Engineer Ahmed and fellow swindlers of taxpayers’ sweats?

    Even now that Ahmed has been compelled to hand in his resignation letter, his taciturnity has continued.  But a certain Engineer Kailani that Dangote never mentioned plunged into the dark alley of Ahmed’s fight.  According to him, on Trust TV, he knew how Dangote made his money from Port Harcourt but that some of them just chose to keep quiet. 

    Really? Again, Dangote no gree for anybody! He slammed anultimatum of seven days on the self appointed advocate of Ahmed to do full throttle disclosure of all he knew about how Dangote made his money in Port Harcourt failing which he ran the risk of a #100 billion suit. But guy was a mere mouth-maker. He hurried back to Trust TV to swallow his words. He went on to apologise and in his characteristic sweeping sobbing muttered that his north had ways with Allah knows what.

    The good thing for now however is that Dangote has crashed the pump-head price of fuel from over #900 or so to #739 in Lagos,at least at MRS stations.This writer bought from Palmgrovestation Monday December 22, 2025. The price crasher went further to enjoin members of the public to report stations declining to dispense at the stated price.

    This Dangote’s new found love for activism came on the heel of the recent inspiring action of an activist, or better still, a renewed hope compliant government commission, in Lagos. Thesaid commission, Federal Competition and Consumer Protection Commission, FCCPC, defying possible blackmail, in the spirit of no gree for anybody descended on the Ikeja Electricity Distribution Company, IKEDC, on account of  protracted infractions including deprivation of certain subscribers of services for as long as one year and some months. After serial warnings which IKEDC deliberately ignored, it took a powerful team of FCCPC led by its Surveillance team to seal up the premises of the erring Ikeja zonal office of IKEDC.  

    IKEDC has the notoriety of being insensitive to customers’complaints but interestingly has always been stopped by FCCPC whose slogan of Demand and Insist is echoed by “no gree for anybody”. Early this year, your’s sincerely had the existing electricity meter for my apartment  within government quarters in Ikeja GRA disconnected by operatives of IKEDC, even when they were not ready to replace immediately.  

    The simplistic argument from IKEDC operatives was that it was an old meter even as it was also a prepaid meter which FCCPC had argued was upgradeable by merely installing some software on that particular version. The Federal Government’s directive was that if they chose to remove any such meter, they must replace for subscribers in Band A at no cost. But IKEDC had always stated that free meter would take eternity and therefore advising subscribers to pay for meters so they could have a replacement. 

    Almost everyone in my vicinity had been successfully cajoled and made to pay for their meters, but heeding the slogan of FCCPC, I demanded for my entitlement and insisted too by notifying FCCPC. Promptly, FCCPC intervened and advised IKEDC to ensure they supply my meter without delay.  FCCPC added further that in the event that it would take a while to  getme a meter, they must not slap any outrageous bill on me,insisting specifically, that subsequent bills for me must be relative to my billing history. My meter was installed within one month! Within the said month, my bill was based on the average cost of my consumption over time. Just imagine life without FCCPC

    Today’s Nigeria with prevalent multidimensional reforms, at the centre, clearly inspires citizens’ activist posturing as demonstrated by Dangote, no matter what the trajectory of the “no gree for anybody” campaign is. 

    President Bola Ahmed Tinubu is even in the forefront of all these, afterall.  He leaves no one in doubt about his deep conviction for the good governance need for the fiscal autonomy of local governments in line with the verdict of the Supreme Court. The height of it all was his recent public declaration of the likelihood of executing the statutory provision for the executive order  to compel compliance for State Governments.  This was actually in addition to repeated calls earlier by the President to citizens to call out the governors and other relevant elected officials to work with the substantially increased revenue. 

    Follow who know road like Dangote. Demand for your rights and Insist, shikena.

    Professor Tunde Akanni, Pioneer Fellow of the Responsible Governance Prrogramme of the Michigan State University and LASU based Development Communications Expert, is currently on sabbatical tenure at the Federal Competition and Consumer Protection Commission, FCCPC.