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Indonesia’s Pertamina Leads Foreign Interest in Nigeria’s 2026 Oil Licensing Round

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Efforts to attract more foreign participation in Nigeria’s oil industry has seen Pertamina, Indonesia’s state-owned oil company, show strong interest in investing in the 2026 Oil Licensing Round.

Biztellers reports that this has seen strategic meetings between the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Indonesia’s Vice Minister of Foreign Affairs, Arif Oegroseno, and Pertamina’s Vice-President, Upstream Business Development, Toriq Abdat.

A statement by the NUPRC Head of Corporate Communications and Media, Eniola Akinkuotu, on Sunday, revealed that the NUPRC Chief Executive, Oritsemeyiwa Eyesan represented Nigeria at the meeting, where investment opportunities in Nigeria and broader cooperation between the two countries as they seek to strengthen energy security and increase domestic oil production were top on the agenda.

READ ALSO: Peter Obi Backs Dangote Refinery IPO, Urges Nigerians to Invest

According to the statement, Eyesan said Nigeria and Indonesia had similar priorities, particularly in energy security, resource utilisation and attracting investment.

The discussions also came against the backdrop of efforts by both countries to increase oil production. Nigeria is targeting three million barrels per day by 2030, compared with current output of about 1.6 million to 1.7 million barrels per day.

Indonesia, which produces about 600,000 barrels per day, is also seeking to increase output and has acknowledged the need to look beyond its domestic fields to meet its energy requirements.

The statement read, “The Nigerian Upstream Petroleum Regulatory Commission has opened discussions with Indonesia on petroleum investments even as the Indonesian national oil company Pertamina signalled an interest in the upcoming 2026 licensing round.”

Explaining Pertamina’s international expansion strategy, Abdat said the company was already seeking opportunities in several countries as declining domestic production and the changing nature of discoveries pushed it to expand abroad.

“We have been given a mandate to expand our business internationally; we are now in other countries outside Indonesia. In Indonesia, we are producing only around 600,000 barrels. We are working on exploration towards deepwater, but we found more gas than oil. That is why we go outside Indonesia, Malaysia, then the Middle East, Iraq and Nigeria,” he said.

Abdat said Pertamina was particularly interested in assets that could deliver production relatively quickly, including existing producing fields and projects close to production.

“We would like to be in projects with governments. Producing assets, or near production, or before FID. Now we are looking at how we can help you reach the 3 million, and also help us provide more energy for our own consumption,” he said.

Responding, Eyesan said Nigeria also had an ambitious production target and was using regular licensing rounds as one of the measures to expand investment and increase output.

“We have very aggressive targets, 3 million barrels per day by 2030, and today we are at 1.6, 1.7. We are committed to the objective and the licensing round is one of the strategies we are utilising,” she said.

The Indonesian delegation noted that it is exploring other opportunities outside crude oil and gas. The national oil company is building a fertiliser plant to reduce its dependence on Middle Eastern supply, and disruptions during the current global conflict.

Food security relates to oil and gas because phosphate and the elements that make fertilizer, the Indonesian delegation said. Nigeria, for its part, is diversifying its own phosphate sourcing, including a long-term transatlantic pipeline project with Morocco to serve West Africa. Nigeria has also simplified fertiliser distribution rules that once ran to about 160 layers of regulation.

Both sides thus agreed to keep the commercial and diplomatic tracks running in parallel.

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TCN Restores Power Supply to Katampe Substation After Shiroro Line Fault

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The Transmission Company of Nigeria (TCN) has restored bulk power supply to its Katampe 330kV Transmission Substation in Abuja following an earlier disruption caused by a fault on the Shiroro–Katampe 330kV Line 1.

The development was disclosed in a statement released by TCN management on Friday, October 9, 2026.

SEE ALSO: Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration

According to the statement, bulk power supply was restored to the Katampe substation at 4:15 p.m. through the Gwagwalada–Katampe 330kV Line 1.

TCN explained that the Shiroro–Katampe 330kV Line 1 remains out of service due to a fault, necessitating the use of the Gwagwalada–Katampe line to restore supply to the substation.

The company also announced the suspension of planned maintenance work on the Gwagwalada–Katampe 330kV Line 1 to enable the line to continue supplying the Katampe substation.

The suspended maintenance work involved replacing defective line isolators and the associated earthing switch.

TCN apologised to electricity consumers in the affected areas for any inconvenience caused by the disruption and maintenance arrangements.

 

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NEWS

2027 Elections: FG Warns Politicians Against Promises on Fuel Subsidy

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The Federal Government has warned politicians against making promises that could reverse Nigeria’s economic reforms, insisting that it will not restore fuel subsidy amid renewed debate over the Nigerian National Petroleum Company Limited’s (NNPC) petrol discount.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this during an interview on Channels Television on Friday, saying the government would not bring back subsidies on petroleum products.

“This government is not bringing back subsidy on fuel products. We need to be clear,” Oyedele said.

ALSO READ: NNPC Petrol Discount: Oyedele Explains How Lower Margins Could Boost Profits

The minister also criticised politicians who, according to him, make promises to win elections without fully considering the implications of implementing them.

He suggested that some politicians make sweeping promises during election campaigns only to offer excuses when confronted with the realities of governance.

“I think I would pardon people who say all manner of things because they want to get elected. It’s almost like ‘whatever I need to say, when I get there, I’ll give excuses.’ But we have the data,” he said.

Oyedele added that he felt a personal responsibility not to remain silent about the economic realities known to the government or allow populist positions to push Nigeria in the wrong direction.

“I feel the personal responsibility that I cannot see what I see and keep quiet, or populism to move our country in the wrong direction,” he said.

NNPC Petrol Discount Sparks Fresh Subsidy Debate

The minister’s remarks come amid renewed debate over fuel subsidy following the Federal Government’s announcement of a 30-day petrol discount at NNPC retail stations.

The initiative was introduced as a temporary measure to provide relief to Nigerians amid elevated global crude oil prices and concerns about the cost of petroleum products.

NNPC Retail had also announced a N66-per-litre petrol discount to mark Nigeria’s 66th Independence Anniversary, with the offer scheduled to run until October 31, 2026, across its retail stations nationwide.

The company maintained that the discount was a customer-relief initiative and did not represent a return to the petroleum subsidy regime.

The distinction has become central to the debate, with the government insisting that temporary price relief at NNPC stations does not amount to restoring the subsidy policy abolished in May 2023.

The administration has maintained that the current arrangement differs from the former subsidy system, under which the government intervened to cover part of the cost of petrol.

FG Defends Economic Reforms

During the interview, Oyedele also referred to a World Bank update, saying the institution had acknowledged a reduction in poverty levels and increased spending on infrastructure, particularly roads.

He urged Nigerians not to reverse the progress he said had been made, arguing that the country was approaching a point where the benefits of ongoing reforms should begin to emerge.

 

 

 

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Kaduna Moves to Clear 5-Year Promotion Backlog for 24,000 Teachers

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The Kaduna State Universal Basic Education Board (SUBEB) has commenced a promotion exercise for 24,000 eligible staff as part of efforts to clear outstanding teachers’ promotions dating back to 2021.

The development was disclosed on Friday as the administration of Governor Uba Sani intensifies efforts to address promotion backlogs, recognise teachers’ years of service and improve staff welfare across the state.

The exercise covers outstanding promotions from 2021 to 2026 and is expected to provide eligible teachers and other staff with opportunities for career progression.

SEE ALSO: Kaduna Clears N18bn Pension Arrears, Raises Agric Funding to N100bn

According to the announcement, eligible personnel will undergo an assessment process, after which promotions will be implemented for those who successfully meet the requirements.

The initiative is part of efforts to strengthen the education sector by recognising the contributions of teachers and supporting their professional development.

The state government has emphasised the importance of investing in teachers, noting that a motivated and valued teaching workforce is essential to building a stronger education system.

The exercise is also expected to address long-standing staff concerns relating to career advancement within the state’s basic education sector.

 

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