Bunmi Aduloju

Brent crude oil price rose by 2.38 percent to hit $117.54 per barrel on Tuesday. US West Texas Intermediate (WTI) also rose by 1.81 percent to $104.74 per barrel.

The African Export-Import Bank (Afreximbank) says it has underwritten $2.5 billion in a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals (DPRP) FZE.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has increased the price of natural gas for power generation companies (GenCos) to $2.18 per metric million British thermal units (MMBTU).

The Nigeria Labour Congress (NLC) picketed the headquarters of the Abuja Electricity Distribution Company (AEDC) in Abuja over the disengagement of about 900 workers.

The Nigerian National Petroleum Company (NNPC) Limited will allocate seven cargoes in May to Dangote refinery, an increase from the five allocated in previous months.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the nation's crude oil and condensates reserves dropped to 37.01 billion barrels as of January 1, down from 37.28 billion barrels in 2025.

President Bola Tinubu has renewed the appointment of Sule Abdulaziz a s the managing director and chief executive officer (CEO) of the Transmission Company of Nigeria (TCN) for a second and final term.

Flutterwave Inc., an African payments technology company, says it has secured a Nigerian banking licence.

Wale Edun, minister of finance and coordinating minister of the economy, has called on the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to push the petroleum industry harder to hit 2 million barrels per day (bpd).

Workers at Seplat Energy, Nigeria's independent oil and gas producer, have commenced an indefinite strike.