Echotitbits – Nigeria News

Tag: Nigeria energy

  • Federal Government Sets Ambitious 2.5 Million BPD Oil Target for 2027

    Federal Government Sets Ambitious 2.5 Million BPD Oil Target for 2027

    In an update published by Vanguard, the Federal Government has called on International Oil Companies (IOCs) to take decisive action to ramp up crude oil production. Speaking at the 2026 Nigerian International Energy Summit (NIES) in Abuja, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, emphasized that the country aims to reach a production capacity of 2.5 million barrels per day (bpd) by 2027. This follows a 2025 average of 1.6 million bpd, which fell short of the 2.06 million bpd budget benchmark.

    The Minister stressed that the success of the entire petroleum value chain—from refining to distribution—is fundamentally dependent on the upstream sector’s performance. He reassured investors that the Petroleum Industry Act (PIA) provides a level playing field for both indigenous and foreign operators. The government’s renewed focus comes as the economy seeks to bolster foreign exchange earnings through increased energy exports.

    The Nation and BusinessDay are also tracking these developments from the NIES summit. The Nation noted that “the government is looking to eliminate technical hitches and oil theft that have historically hindered production.” BusinessDay highlighted the private sector’s response, quoting an industry executive who said, “the roadmap is clear, but the infrastructure for evacuation must match the production targets.”

    Echotitbits take:

    Achieving 2.5 million bpd is a tall order considering the aging infrastructure of many onshore assets. However, if the recent divestments by IOCs to local firms lead to more aggressive drilling in marginal fields, we might see a significant uptick. The government must ensure that the “enabling environment” mentioned includes physical security for pipelines to prevent the return of large-scale crude theft.

    Source: Arise – https://www.arise.tv/tinubu-reaffirms-nigerias-3-million-bpd-oil-output-target-by-2030/, February 5, 2026

    Photo credit: Arise

  • Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

    Strategic Plan Unveiled to Hits 1.8 Million Barrels Per Day Production Goal

    In an update published by BusinessDay, Nigeria’s ambition to reach a crude oil production target of 1.80 million barrels per day (bpd) in 2026 is reportedly contingent on fixing aging infrastructure and securing new export routes. While over $16 billion in investment commitments have been secured since 2023, experts warn that chronic pipeline theft and ‘infrastructure bottlenecks’ remain significant hurdles. The report highlights that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recorded an average production of 1.66 million bpd toward the end of 2025. To bridge the gap, the government is looking to activate newly approved export infrastructure and leverage improved security measures in the Niger Delta. Further validation comes from Premium Times and The Nation. Premium Times reported that the ‘NNPCL seeks pipeline communities’ support’ to meet the new budget targets, while The Nation quoted industry analysts saying, ‘securing evacuation routes’ is the primary challenge for the year.

    Echotitbits take: Reaching 1.8m bpd is the ‘holy grail’ for Nigeria’s 2026 fiscal stability. If the government can successfully secure the pipelines and integrate new investments, the resulting forex influx could stabilize the Naira. However, the reliance on mature fields means that brownfield optimizations must happen immediately.

    Source: Guardian – https://guardian.ng/energy/crude-oil-production-hits-1-8m-barrels-per-day-nuprc/ January 6 2026

    Photo Credit: Guardian

  • Port Harcourt Refinery Still Trucking Diesel Despite ‘Shutdown Mode’ Status

    Port Harcourt Refinery Still Trucking Diesel Despite ‘Shutdown Mode’ Status

    2025-12-30 12:30:00

    Figures cited by Punch suggest diesel continued to be evacuated in trucks from Port Harcourt refinery facilities despite the plant being in “shutdown mode,” with the explanation tied to stock produced before the shutdown date.

    The distinction between production and evacuation has become central amid public scrutiny of state refinery performance and rehabilitation claims.

    The development has renewed calls for clearer reporting of refining metrics—what is produced, what is stored and what is trucked out—so consumers and markets can track real progress.

    Africa Business Insider, citing regulator data, said at Port Harcourt “no production activities” were recorded while evacuation continued from existing stock. Punch reported the same framing, quoting the plant remained in “shutdown mode” even as diesel truck-outs persisted.

    Echotitbits take: Nigeria needs transparent dashboards where ‘production’ isn’t confused with ‘distribution.’ Watch for whether NMDPRA publishes more granular refinery reporting and whether NNPCL clarifies a firm timeline for sustained restart.

    Source: The Punch — December 30, 2025 (https://punchng.com/p-harcourt-refinery-supplies-3150-diesel-trucks-despite-shutdown/)

    The Punch 2025-12-30

    Photo Credit: The Punch

  • N739/Litre Dangote Petrol Sparks Rush at MRS Stations

    N739/Litre Dangote Petrol Sparks Rush at MRS Stations

    Photo Credit: The Punch
    2025-12-25 09:20:00

    As detailed by The Punch, the sale of Dangote-refined petrol at about N739 per litre at some MRS outlets triggered long queues, as motorists sought cheaper fuel amid higher prevailing pump prices elsewhere. The rush reflects both price sensitivity and the market’s hunt for stable supply points.

    The report suggests queues built quickly in locations where the N739 pricing was visible, with customers traveling between stations to confirm availability—typical behavior in Nigeria’s downstream market when a meaningful price gap opens.

    The development also highlights distribution reality: price reductions can create localized demand spikes that supply logistics may struggle to match in the short term, raising the risk of stockouts and opportunistic price deviations.

    On validation, Nairametrics reported a monitoring push, quoting a call to “report any MRS station selling above N739 per litre,” while Vanguard captured commuter reactions describing the pricing move as a “laudable intervention” and “timely relief” amid cost pressures.

    Echotitbits take: Cheap fuel without stable volume quickly becomes chaos. Watch whether supply scales (more stations, more trucks, steadier replenishment) and whether regulators/marketers enforce price discipline to stop “N739 on paper, N850 at the nozzle.”

    Source: The Punch — December 25, 2025 (https://punchng.com/n739-litre-dangote-petrol-causes-queues-at-mrs-stations/)

    The Punch 2025-12-25

  • Nigeria’s Petrol Supply Jumps to 71.5m Litres Daily as Imports Rise

    Nigeria’s Petrol Supply Jumps to 71.5m Litres Daily as Imports Rise

    Photo Credit: Vanguard
    2025-12-23 09:00:00

    Figures cited by Vanguard show Nigeria’s petrol supply rose sharply in November 2025, climbing to 71.5 million litres per day from 46 million litres per day in October.

    The report attributes the spike largely to import volumes—especially shipments linked to NNPC—aimed at rebuilding inventory and preventing scarcity during end-of-year peak demand.

    At the same time, regulators’ data suggest consumption also rose, reinforcing the view that the market remains supply-sensitive despite “price war” headlines and the gradual scaling of local refining.

    The broader implication is that import dependence is still doing the heavy lifting whenever domestic production or distribution falls below demand thresholds.

    Validation: The Punch notes, “The sharp increase… in November helped push total national PMS supply to a record 71.5 million litres per day.” Daily Post similarly reports that “total petrol supply in Nigeria rose to 71.5 million litres per day in November…”

    Echotitbits take: Watch December/January inventory and whether supply stability translates into sustained pump-price discipline nationwide. Also watch refinery utilisation—because a supply surge powered by imports is not the same as energy security.

    Source: Vanguard — December 23, 2025 (https://www.vanguardngr.com/2025/12/petrol-supply-rises-55-to-71-5m-litres-daily/)
    Vanguard 2025-12-23

  • MRS stations begin ₦739 petrol sales in Lagos as marketers push back

    MRS stations begin ₦739 petrol sales in Lagos as marketers push back

    Photo Credit: Punch
    2025-12-17

    As pump prices remain a major political and household issue, MRS filling stations in Lagos have begun selling petrol at ₦739 per litre, triggering long queues and renewed debate about how quickly price cuts reach consumers.

    The development follows Dangote Refinery’s gantry price reduction and an effort to push retail prices lower through selected partners. However, marketers’ groups — including PETROAN — have criticised aspects of the rollout and the market disruption it could cause.

    For consumers, the immediate story is relief at the pump (where available) and confusion elsewhere as competing stations adjust prices or pause sales to manage supply and crowd control.

    For the industry, the key question is whether the ₦739 benchmark becomes nationwide — or remains a limited, Lagos‑first price in the face of logistics, inventory and competitive pressures.

    Vanguard: “Starting from Tuesday, MRS will start selling petrol at ₦739 per litre. We will enforce that low price…” Dangote said.

    P.M. News: “From Tuesday, MRS will begin selling petrol at ₦739 per litre. We will ensure that price is enforced and implemented,” Dangote said.

    Analysis/Echotitbits take: If the price cut holds and spreads, it will reset expectations across the downstream market. Watch for wider station participation, any regulatory guidance on pricing/competition, and whether supply disruptions emerge from sudden demand spikes.

    Source: Punch — December 17, 2025 — https://punchng.com/mrs-begins-n739-litre-petrol-sales-petroan-kicks/

     

  • Power Sector Gets 450MW Relief

    Power Sector Gets 450MW Relief

    Nigeria’s power sector reportedly recorded a 450MW restoration to the national supply, offering temporary relief amid persistent outages.

    The improvement underscores the need for deeper investment in grid resilience, gas supply stability and distribution efficiency.

    Source: Punch, 2025-12-08