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Why Petrol Prices Keep Rising in Nigeria Despite Dangote’s Mega Refinery

Despite the presence of the Dangote Refinery, Nigerians are now paying about 65 percent more for petrol, as rising global oil prices and supply challenges continue...

Gas development, a major carbon reduction move - Seplat Energy

Energy1 month ago

Decade of Gas: Ekpo Moves for Regional Gas Development, Collaboration To unlock Africa’s vast natural gas potential and address persistent energy deficits, Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has moved for stronger regional collaboration intracontinent. This is even as Nigeria keeps pushing for Integrated Gas Market, Cross-Border Projects at the Ministerial Roundtable on Regional Gas Development and Cooperation in Africa, held in Abuja. At the event which had participation from the World Bank, Ekpo stressed that Africa’s energy future hinges not on the abundance of its resources but on collective action and coordinated strategies. Addressing ministers, development partners, and stakeholders, the minister highlighted the paradox of Africa’s energy landscape, noting that while the continent holds over 600 trillion cubic feet of proven natural gas reserves, more than 600 million people still lack access to electricity, with millions relying on traditional fuels for cooking. “This is not a question of resource availability, but one of coordination, infrastructure, and collective action,” he said. Ekpo described natural gas as a critical pathway to Africa’s self-reliance, capable of driving industrialisation, expanding energy access, and strengthening economic resilience. However, he emphasised that no single country can unlock this potential alone, underscoring regional cooperation as the cornerstone of sustainable development. He noted that Nigeria, with over 210 trillion cubic feet of gas reserves, is advancing its “Decade of Gas” initiative to position itself as a regional hub through partnerships with other African nations. He cited key cross-border projects already demonstrating the benefits of collaboration, including the West African Gas Pipeline, Trans-Sahara Gas Pipeline, Nigeria–Equatorial Guinea Gas Pipeline, and the Nigeria–Morocco Gas Pipeline. To scale up impact across the continent, Ekpo outlined four priority areas for deepened cooperation. These include the development of regional gas supply and market frameworks, with a shift from fragmented national systems to integrated markets featuring transparent pricing, aggregated demand, and efficient cross-border trade. The Minister also emphasised the need to expand gas-to-power and clean cooking initiatives to ensure that gas development translates into tangible benefits such as reliable electricity and improved living standards for citizens. On financing, the minister called for innovative, climate-aligned funding models, including blended finance structures, increased private sector participation, and stronger collaboration with international partners like the World Bank. Ekpo further stressed the importance of harmonising policy and regulatory frameworks across countries to reduce investment risks and accelerate project delivery, pointing to Nigeria’s Petroleum Industry Act as a useful reference model. He described natural gas as Africa’s “transition fuel,” serving as a practical bridge for expanding energy access, supporting industrial growth, and lowering emissions intensity, while ensuring a just and inclusive energy transition. The minister urged that the Abuja roundtable should move beyond discussions to deliver concrete outcomes, including clearly defined areas of cooperation, identification of priority bankable cross-border projects, and the establishment of institutional mechanisms to drive implementation. Reaffirming Nigeria’s commitment, Ekpo said the country stands ready to collaborate, invest, and provide leadership where necessary in building an integrated African gas market. He concluded that aligning vision, coordinating actions, and committing to shared progress would enable Africa to transform from a continent of stranded gas resources into one of integrated energy prosperity. “The future of Africa’s energy lies not in isolated pipelines, but in connected systems, shared markets, and collective ambition,” he said.

To unlock Africa’s vast natural gas potential and address persistent energy deficits, Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has moved for stronger...

NEWS1 month ago

Foreign Affairs Minister Tuggar Resigns, Declares Governorship Interest

Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, has resigned from his position, officially confirming his intention to contest for the governorship of Bauchi State. The development...

NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

Energy1 month ago

NCDMB: ESSO’s $23m LADOL Shorebase Signals Logistics Rise

The Nigerian Content Development and Monitoring Board (NCDMB) has commended ESSO Nigeria for the groundbreaking of its $23 million permanent shorebase facility at the LADOL Deep...

NEWS1 month ago

“We Know Those Behind It” — Lucky Aiyedatiwa Govt Threatens Billboard Vandals

The Ondo State Government has issued a stern warning to political actors involved in the vandalism of campaign billboards, promising that perpetrators and their sponsors will...

Politics1 month ago

“APC Failure in Disguise?” — Dickson Tears Into ADC Coalition

Former Bayelsa State Governor and Senator, Seriake Dickson, has launched a scathing critique of the African Democratic Congress (ADC), questioning the party’s ideological foundation and describing...

Politics1 month ago

Kebbi PDP Faces Uncertainty as Secretary Bawa Leaves Party

The political landscape of Kebbi State has been thrown into uncertainty following the resignation of the state Secretary of the Peoples Democratic Party (PDP), Abubakar Bawa....

Sports1 month ago

Is De Zerbi the Coach Spurs Need to Avoid Relegation?

Tottenham Hotspur’s Premier League survival may depend on Italian tactician Roberto De Zerbi, who is reportedly open to taking over the club after Igor Tudor’s shock departure....

Business1 month ago

How Middle East Conflict Is Triggering Fresh Economic Fears in Nigeria – MAN

Nigeria’s economy is facing renewed uncertainty as the escalating Middle East conflict involving the United States, Israel and Iran begins to send shockwaves across global markets,...

Sports1 month ago

Global Alarm: Amnesty Raises Red Flag Over 2026 World Cup Safety

A fresh wave of concern has emerged ahead of the 2026 FIFA World Cup as Amnesty International warns that the global football event could pose serious...

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Why Petrol Prices Keep Rising in Nigeria Despite Dangote’s Mega Refinery

Foreign Affairs Minister Tuggar Resigns, Declares Governorship Interest

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Is De Zerbi the Coach Spurs Need to Avoid Relegation?

Is De Zerbi the Coach Spurs Need to Avoid Relegation?