Nigeria’s crude oil production has risen to about 1.8 million barrels per day (mbpd), prompting local refiners and organised labour to renew calls for increased crude supply to domestic refineries and lower fuel prices.
The Windfall is Real, So is the Vulnerability
By Abdulhaleem Ishaq Ringim
Working in government means living simultaneously with two realities that the public debate tends to treat separately as the conversation regarding the impact of the US-Iran War continues. The first is fiscal: Nigeria’s 2026...
President Bola Tinubu demonstrated foresight in July 2024, when he approved the use of the naira as the payment currency for crude oil supplied by the NNPC to the Dangote Refinery. Since the launch of the naira-for-crude initiative on October 1, 2024, Nigeria has experienced a strategic breakthrough amid the ongoing economic turmoil resulting from the Iran-Israel-US conflict in the Middle East.
NNPC Raises Dangote Refinery Crude Supply to Seven Cargoes – Report
The Nigerian National Petroleum Company Limited has increased crude oil supply to the Dangote Petroleum Refinery and Petrochemicals, allocating seven cargoes for May loading in a move aimed at boosting domestic fuel production.
Two trader...
Nigeria is ramping up efforts to strengthen crude oil production, with the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), Bashir Bayo Ojulari, projecting an incremental increase of about 100,000 barrels per day (bpd) in the coming months.
The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).
