BUSINESS LEAD STORY 2

Tinubu Orders Direct Transfer of Oil, Gas Revenues to Federation Account

Daily Dispatch February 18, 2026

President Bola Tinubu has signed a sweeping Executive Order mandating the direct remittance of oil and gas revenues to the Federation Account, in a move aimed at blocking revenue leakages, dismantling overlapping structures, and boosting funds available to the three tiers of government. The

BUSINESS NEWS

NNPC, Seplat Announce Four-Day Maintenance on Major Gas Facilities

Daily Dispatch February 12, 2026

NNPC Ltd has announced that Seplat Energy Plc, one of its Joint Venture partners and a major gas supplier to the NNPC Gas Infrastructure Company Limited (NGIC) pipeline network, will undertake scheduled routine maintenance on its gas production facilities from February 12 to February 15, 2026. According to a statement issued by the Chief Corporate […]

NEWS

NNPC Ltd hails Chevron on successful Awodi-07 offshore discovery

Daily Dispatch January 26, 2026

The Nigerian National Petroleum Company Limited (NNPC Ltd) has commended Chevron Nigeria Limited (CNL) on the successful drilling and evaluation of the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta. The Awodi-07 well, drilled under the NNPC Ltd/Chevron Nigeria Limited Joint Venture, forms part of ongoing efforts to further delineate

BUSINESS

CBN Projects Petrol Price Increase to N950 Per Litre in 2026

Daily Dispatch January 10, 2026

The Central Bank of Nigeria (CBN) has projected that Premium Motor Spirit (PMS), also known as petrol, could rise to around N950 per litre in 2026. The forecast is based on an average crude oil price of $55 per barrel, domestic crude production of 1.5 million barrels per day, and an assumed exchange rate of […]

BUSINESS

NNPC Limited restores Escravos–Lagos pipeline to full operations

Daily Dispatch December 29, 2025

Nigerian National Petroleum Company (NNPC) Limited has announced the successful restoration of the Escravos–Lagos Pipeline System (ELPS), returning the critical energy infrastructure to full operations after an unexpected explosion on December 10, 2025. In a statement issued on Monday , the company said it immediately activated its emergency response plan following the

BUSINESS

President Tinubu approves debt write-off for NNPC – $1.42bn & N5.57tn cancelled

Daily Dispatch December 29, 2025

President Bola Tinubu has approved the cancellation of a substantial portion of the Nigerian National Petroleum Company Limited (NNPC Ltd)’s outstanding debts owed to the Federation Account, effectively wiping out approximately $1.42 billion in legacy obligations. The decision, detailed in a document by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)