Abubakar Ibrahim

Lagos

Editor and Journalist at BusinessDay Nigeria

Energy and Environment Journalist @BusinessDayNG | OAP @FUTARadio931FM. Views are mine

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Articles

Nigeria to become full petroleum exporting country in two years – PETROAN - Businessday NG

2 days ago | businessday.ng | Abubakar Ibrahim

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has projected that Nigeria will become a full petroleum exporting nation in two years. This followed the announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on its recent milestone of licensing 83 refineries with a combined total refining capacity of 1,124,500.
Investors back Nigeria’s oil reforms but seek steady action

2 days ago | businessday.ng | Abubakar Ibrahim

A new survey of energy sector investors has shown cautious optimism about Nigeria’s recent oil and gas reforms but stressed the need for consistent policy execution to sustain confidence. The findings titled Investor Perceptions of Nigeria’s Regulatory and Policy Reforms in the Oil and Gas Sector highlight support for measures such as the Petroleum Industry Act (PIA) and efforts to attract foreign investment.
NNPC targets $60bn investments, 3mbpd output by 2030

6 days ago | businessday.ng | Abubakar Ibrahim

The new leadership of the Nigerian National Petroleum Company (NNPC) Limited is aiming to attract sectoral investments worth $30 billion by 2027 and raising it to $60 billion by 2030. The state-owned oil company is also targeting raising crude oil production to over 2 million barrels per day, sustained through 2027, and attaining 3 million bpd by 2030.
Again, Dangote Refinery reduces petrol ex-depot price to N835/litre

1 week ago | businessday.ng | Abubakar Ibrahim

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N835 per litre. This is the second time the refinery has reduced the ex-depot price of the refined product within two weeks. Read also: Nigeria records significant drop in petrol imports – NMDPRA This downward price adjustment comes in response to a drop in international crude oil prices, which have recently fallen to $64 per barrel from over $70 per barrel.
Metering hits 4-year low as FG misses target

1 week ago | businessday.ng | Abubakar Ibrahim

Nigeria’s power sector is facing renewed scrutiny as recent data show that electricity metering has dropped to a four-year low, contradicting the federal government’s claims of significant improvements in meter distribution. Data gleaned from the Nigerian Electricity Regulatory Commission (NERC) revealed that the power sector installed 547,436 meters in 2024 out of the targeted 800,000, indicating a 68 percent installation rate.
Nigeria’s oil output hits lowest in 2025

1 week ago | businessday.ng | Abubakar Ibrahim

Nigeria’s fiscal stability is under pressure as crude oil production plummeted to its lowest level yet in 2025, raising alarm bells about the country’s ability to fund its national budget. Data gleaned from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that Nigeria’s crude, blended and unblended condensates production declined by 68,177 barrels per day (bpd) in March.
Four ways competition can jolt Nigeria’s energy sector

1 week ago | businessday.ng | Abubakar Ibrahim

Nigeria’s downstream petroleum sector is ripe for transformation, and increased competition is the key. A recent presentation by Taiwo Adebola Ogunleye, legal advisor for International Law at the Organization of the Petroleum Exporting Countries (OPEC), and Israel Aye, non-executive director at Aspen Energy have highlighted four critical ways that fostering a more competitive landscape can revolutionize the industry, ultimately benefiting consumers and the nation’s economy.
Nigeria finds new LNG bride in Jamaica as export rises

1 week ago | businessday.ng | Abubakar Ibrahim

Nigeria, Africa’s largest exporter of liquefied natural gas (LNG), is deepening its foothold in the Caribbean energy market, with Jamaica emerging as a promising new trading partner for LNG, BusinessDay’s analysis has shown. Jamaica recorded higher LNG imports in 2024, driven primarily by Nigeria and Mexico, the Gas Exporting Countries Forum (GECF) stated. However, the Forum did not make the figures known.
Nigeria must aggressively invest in gas, reinstate PPAs - Barth Nnaji

1 week ago | businessday.ng | Abubakar Ibrahim

Barth Nnaji, former minister of power has made a strong case for Nigeria to aggressively pursue investments in its natural gas sector and reinstate previously suspended Power Purchase Agreements (PPAs) in a compelling address at the 2025 Bullion Lecture. Delivering a lecture titled “Architecting the Energy Sector for Nigeria’s $1 Trillion Economy Vision,” Nnaji emphasised that these actions are crucial for the nation to achieve its ambitious goal of a $1 trillion economy.
NERC slams eight DisCos with N628m fine for overbilling customers

2 weeks ago | businessday.ng | Abubakar Ibrahim

The Nigerian Electricity Regulatory Commission (NERC) has fined eight Electricity Distribution Companies (DisCos) N628.03 million for non-compliance with the capping of estimated billing for unmetered customers. The affected Discos are: Abuja, Eko, Enugu, Ikeja, Jos, Kaduna, Kano, and Yola Electricity Distribution Companies. The sanction is pursuant to Section 34(1)(d) of the Electricity Act 2023 (EA 2023).