NNPC Revenue Drops by N636bn Despite Stable Oil Output   The Nigerian National Petroleum Company Limited (NNPCL) recorded a decline in its financial performance in May 2026, with revenue dropping by nearly 13 per cent to N4.335tn despite maintaining stable crude oil and natural gas production. The...

Crude Oil Falls Below $72 as Petrol Remains Above N1,000   Crude oil prices dropped to $71.21 on Wednesday even as the Nigerian National Petroleum Company Limited (NNPCL) and other fuel marketers retained petrol prices above N1,000 per litre. According to Oilprice.com, Brent crude fell further to...

‎In every economy, institutions matter, but so do the individuals at the helm. In Nigeria, where government revenues remain critical to funding budgets, servicing debt, and financing development, a few public officials wield enormous influence by virtue of the agencies they oversee.

Domestic crude supply to refineries fell to 15.84 million barrels in May 2026, down from 17.96 million barrels in April, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

On 29 May 2023, President Bola Ahmed Tinubu declared the removal of fuel subsidy during his inaugural speech, ending what has been described as a long-standing fiscal drain that consumed trillions of naira annually and benefited importers, smugglers, and the elite more than ordinary citizens.

The Dangote Petroleum Refinery has accused the Federal Government and the Nigerian National Petroleum Company Limited (NNPC) of deliberately sabotaging its operations by failing to supply adequate crude oil, an allegation both the government and NNPC strongly denied.