City Pulse News

  Nigeria's Offshore Oil Sector Targets Major Investment as 22 Projects Move Toward Production By City Pulse News August 22, 2026 Category: Business / Energy Nigeria's oil industry could attract billions of dollars in new offshore investment as dozens of deepwater projects move toward production. Nigeria is positioning its offshore oil sector for a new wave of investment, with the country's upstream petroleum regulator expecting at least 22 offshore projects to begin production by 2030. The projects could attract as much as $50 billion in investment , according to the Nigerian Upstream Petroleum Regulatory Commission. The expected investment comes as Nigeria seeks to increase oil production, attract international capital and strengthen government revenue. For a country that remains heavily dependent on petroleum earnings, developments in the offshore sector could have significant consequences for public finances and the wider economy. Why offshore oil matters Nigeria has s...

  City Pulse News August 21, 2026 Petroleum depots across Nigeria have released fresh petrol prices amid rising global crude oil costs, while fuel marketers continue to flock to the Dangote Petroleum Refinery for more competitive rates. In the latest market update, several major depots adjusted their ex-depot prices upward. Some operators increased rates by as much as ₦20 to ₦30 per litre.  Current listings show prices ranging from around ₦1,190 to ₦1,220 per litre at various Lagos and other regional facilities, including Pinnacle, Integrated, African Terminals, NIPCO, Liquid Bulk and others. The Dangote Refinery also revised its gantry price. After earlier reducing petrol to ₦1,165 per litre earlier in August,  the refinery has now raised it by ₦20 to ₦1,185 per litre, effective from midnight on 21 August 2026. Despite the increase,  Dangote’s price remains lower than most competing depot rates and sits below the estimated import landing cost of approximately ₦1,218...