BUSINESS

Backbone Infrastructure Ltd secures $50b funding for Ondo 500,000bpd refinery, Free Zone Development

Daily Dispatch November 3, 2025

Following the successful execution of the Memorandum of Understanding (MoU) between Backbone Infrastructure Ltd and the Ondo State Government, through the Ondo State Investment Promotion Agency (ONDIPA), for the construction of a 500,000 barrels-per-day refinery and the development of a

BUSINESS

Tinubu Approves 15% Import Duty on Petrol and Diesel to Protect Local Refineries, Stabilise Market

Daily Dispatch October 30, 2025

President Bola Tinubu has approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria — a move the Presidency says is aimed at protecting local refineries, stabilising the downstream market, and advancing the administration’s ongoing energy sector reforms. While the policy is expected to strengthen domestic refining […]

BUSINESS

Ogun remains Nigeria’s most dynamic industrial belt – Tinubu

Daily Dispatch October 29, 2025

…acknowledges Coleman Industries’ contribution to national development President Bola Ahmed Tinubu has reaffirmed Ogun State’s position as Nigeria’s leading industrial hub, describing it as the most dynamic industrial belt powering the nation’s economic growth. The President stated this on Wednesday at the commissioning of Phase Two of the Fibre Optic Factory of Coleman

BUSINESS

NNPCL weighs overhaul, repurposing options for refineries

Daily Dispatch October 29, 2025

The Nigerian National Petroleum Company Limited has said it is assessing the operational and commercial viability of its three major refineries in Port Harcourt, Warri, and Kaduna to determine whether to overhaul or repurpose them for enhanced efficiency and profitability. According to the company, the ongoing technical and commercial review is part of a broader […]

BUSINESS

Forvis Mazars to Back West African Energy Growth as Bronze Sponsor at MSGBC Oil, Gas & Power 2025

Daily Dispatch October 29, 2025

Financial institution Forvis Mazars has confirmed its participation as a Bronze Sponsor at the MSGBC Oil, Gas & Power 2025 conference and exhibition, taking place in Dakar from December 8-10. The firm is set to engage regional ministers, investors and industry stakeholders to advance dialogue on energy development across Mauritania, Senegal, The Gambia, Guinea-Bissau

BUSINESS

NNPC Ltd reaffirms commitment to Downstream Infrastructure Growth

Daily Dispatch October 29, 2025

The Nigerian National Petroleum Company Limited (NNPC Ltd) has renewed its commitment to strengthening and expanding Nigeria’s downstream oil and gas infrastructure to enhance collaboration, efficiency, and sustainability across the sector. Group Chief Executive Officer, Engr. Bayo Ojulari, made this known, he was represented at the 2025 OTL Africa Downstream Energy Week