Lawyers storm Finance Ministry, demand probe of Mele Kyari’s $4bn refineries spending
A group of Nigerian lawyers has asked the Ministry of Finance to investigate Mele Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL). They want a special judicial commission to look into how Kyari spent over $4 billion on repairing the country’s refineries. The lawyers, working under the name […]
60 Million Barrels Of Crude Oil Unsold As Local Refineries Suffer Low Supply
Local refineries in Nigeria continue to face significant challenges in accessing crude oil. Reports indicate that over 60 million barrels of Nigerian crude oil remain unsold, floating at sea while local facilities suffer from insufficient supply. Insiders have voiced concerns about the ongoing difficulties, despite warnings from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The […]
2025: Nigerians Hopeful About Revived Economy Despite Hardship
2024 was a tough year for Nigerians as they faced rising inflation, high fuel prices, and a volatile currency. However, the reopening of domestic refineries and economic reforms have sparked some hope for a better 2025. Over the past year, Nigerians dealt with significant economic pressures. Inflation soared to 34.6%, with food inflation climbing to […]
Tonye Cole Explains Why Fuel Prices Won’t Drop to N700 at Port Harcourt Refinery
Tonye Cole, a former governorship candidate in Rivers State, has explained why it’s not possible for fuel prices in Nigeria to drop to N700 per litre at this time. Despite recent developments in Nigeria’s oil industry, including the announcement that the Port Harcourt refinery has started refining crude oil, Cole says that several factors are […]
Fire Breaks Out at Dangote Refinery in Lagos (Video)
Fire has broken out at the Dangote Refinery in Ibeju-Lekki, Lagos State. Explosions were heard on Wednesday, followed by a major fire at the refinery located in the Ibeju-Lekki area of Lagos State. As of now, the Dangote group has not yet commented on the fire incident. Africa’s richest man, Aliko Dangote, recently revealed he […]
Why the Dangote Refinery Can’t Get Enough Crude Oil from IOCs in Nigeria – LCCI
The Lagos State Chamber of Commerce and Industry (LCCI) has attributed the limited crude oil supply to Dangote Refinery and other local refineries to issues like oil theft and pipeline vandalism. Dr. Chinyere Almona, Director General of LCCI, mentioned these problems in a statement addressing the crude oil supply challenges faced by local refineries in […]