Tag: #EnergySecurity
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NAIRA-FOR-CRUDE POLICY SHIELDS NIGERIA FROM GLOBAL FUEL CRISIS
While the Middle-East conflict sends oil prices soaring worldwide, Nigeria stays fuel-secure thanks to Tinubu’s local refining push. President Bola Tinubu’s naira-for-crude policy has bolstered Nigeria’s energy security amid the ongoing Middle-East crisis, a presidential aide has revealed. Temitope Ajayi, SSA on Media, highlighted how the initiative—allowing NNPC to sell crude to local refiners in…
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NAVY CRACKS DOWN: 44,000 LITRES OF ILLEGAL FUEL SEIZED, 8 ARRESTED IN RIVERS
Major anti-oil theft operation hits illegal refiners as Navy tightens grip on maritime crime. The Nigerian Navy has intercepted about 44,000 litres of suspected illegally refined petroleum products and arrested eight suspects in Rivers State during a targeted operation. According to Commodore Abiodun Folorunsho, the raid—carried out under Operation DELTA SENTINEL by NNS PATHFINDER—took place…
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FOCUS ON FUEL SUPPLY, NOT PRICE CONTROL – EXPERT TELLS FG
As global tensions shake oil markets, an energy expert is warning Nigeria—keeping fuel flowing matters more than fixing prices. Energy economist Wumi Iledare has advised the Federal Government to prioritise stable fuel supply over price control, saying it’s the key to economic stability amid global oil market disruptions. Speaking in Lagos, Iledare warned that trying…
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TRUMP TO RELEASE U.S. OIL RESERVES AS GLOBAL PRICES SURGE
U.S. President Donald Trump says the United States will release crude from its strategic petroleum reserve to help cool rapidly rising global oil prices. Speaking to Local 12 on Wednesday, Trump said the move aims to stabilise the market, adding that the reserves would be replenished later. “We’ll do that, and then we’ll fill it…
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IRAN-US-ISRAEL STRIKE SPARKS REGIONAL WAR, GLOBAL OIL SHOCKS
The assassination of Iran’s Supreme Leader Ali Khamenei on Feb. 28, 2026, allegedly by the United States and Israel, has ignited a full-blown regional conflict with global economic ripples. What began as a targeted strike has escalated into waves of Iranian missile and drone attacks on Israel and U.S. bases across the Gulf, while Tehran…
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LOCAL REFINERIES WON’T SHIELD NIGERIA FROM GLOBAL FUEL PRICE SHOCKS — CPPE
Even with domestic refineries coming on stream, Nigeria may still feel the heat of global fuel price swings, according to the Centre for the Promotion of Private Enterprise (CPPE). Dr. Muda Yusuf, founder of CPPE, explained that crude oil—the main raw material for refining—is priced using international benchmarks, meaning local refineries cannot completely escape global…
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PETROAN CALLS FOR URGENT BOOST TO NIGERIA’S REFINERIES AMID MIDEAST CRISIS
Nigeria’s Petroleum Products Retail Outlets Owners Association (PETROAN) is urging the government to strengthen domestic refineries and ensure a steady crude supply, warning that the ongoing Middle East tensions could spike fuel prices and disrupt the local market. Dr. Billy Gillis-Harry, PETROAN President, said the crisis around the Strait of Hormuz has already sent global…
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TRUMP VOWS NAVY ESCORTS TO SECURE STRAIT OF HORMUZ SHIPPING
President Donald Trump says the U.S. is ready to step in militarily to protect global energy supplies as tensions rise around the Strait of Hormuz. “If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz,” Trump posted on Truth Social, pledging to guarantee the “FREE FLOW of ENERGY to the…
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CUSTOMS HANDS OVER 159,000 LITRES OF SEIZED PETROL IN ANTI-SMUGGLING CRACKDOWN
Nigeria Customs has intercepted and handed over 159,000 litres of_ petrol to regulators, tightening the noose on fuel smugglers exploiting border routes. The Nigerian Customs Service (NCS) has transferred three seized fuel tankers loaded with over 159,000 litres of petrol to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for further action. Deputy Comptroller…
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FG EYES 10BSCFD GAS PRODUCTION BY 2030
Nigeria ramps up gas output to power industrial growth, energy security, and economic prosperity. At the Nigeria International Energy Summit 2026 in Abuja, Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, revealed that Nigeria is targeting 10 billion standard cubic feet per day (BSCFD) of gas production by 2030, with domestic supply already…
