Friday, February 13, 2026
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Economy

NNPCL Lowers Petrol Price by ₦15 

The Nigerian National Petroleum Company Limited (NNPCL) has adjusted the pump price of Premium Motor Spirit (PMS) from ₦910 to ₦895 per liter, reflecting a ₦15 reduction. 

NNPCL Chairman Kida: Time Needed to Repair Nigeria’s Oil Sector. 

“Our task is huge. But we are deeply honored to be part of the very select few called upon by the President to reform the oil sector. One thing we can assure you is that we will always tell Nigerians the truth, irrespective of how bitter it will be. We will walk our talk with personal integrity and openness,” Kida said.
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President Tinubu Inaugurates the New NNPCL (Technical) Board 

“When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you. You have the reputation, resourcefulness and experience to help the country. It is a call to duty for you. I believe you are among the best the industry can offer.”

GPS vs BeiDou: U.S. and China Compete for Satellite Navigation Dominance 

With rising trade and tech tensions between the U.S. and China, satellite navigation is becoming a new battleground. China's BeiDou system, competing with the U.S. GPS, is securing its dominance domestically and replacing GPS on Chinese devices. In 2024, BeiDou generated 575.8 billion yuan (US$79.9 billion), marking a 7.39 percent increase from the previous year, according to the GNSS and LBS Association of China.

Dangote: We Wouldn’t Have Attempted the Refinery if we Knew the Magnitude 

“Honestly, if we had fully understood the magnitude and challenges involved, we may not have even attempted it, but it is because we didn’t know what we were into initially and the courage, or maybe, naivety that got us this far,” Dangote said. 

NNPCL to Continue Oil Projects in the North 

NNPC will continue oil drilling in the Kolmani field and will continue the work on the AKK gas pipeline from Ajaokuta to Kaduna to Kano.

Nigeria’s Crude Oil Production at Near OPEC+ Quota Level 

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reports that Nigeria’s crude oil production is now at 99 percent of the OPEC quota following increased output to 1.486 million barrels per day (bpd) in April, up from 1.401 million bpd in March, nearly reaching the OPEC+ quota of 1.5 million bpd.

FG Bans Procurement of Foreign Goods Produced Locally 

The policy, referred to as the Renewed Hope Nigeria First Policy, aims to cultivate a business culture characterized by boldness, confidence, and a strong sense of Nigerian identity.