Blog

  • Nigeria misses OPEC quota, produces 1.38m bpd in March

    Nigeria misses OPEC quota, produces 1.38m bpd in March

    By Udeme Akpan, Energy Editor

    The Organization of the Petroleum Exporting Countries (OPEC) has disclosed that Nigeria’s crude oil output, excluding condensate, rose to 1.38 million barrels per day (bpd) in March 2026, up from 1.31 million bpd recorded in February.

    In its March 2026 Monthly Oil Market Report (MOMR), OPEC stated that the figures were based on data obtained through direct communication with Nigerian authorities.

    However, data from secondary sources showed that Nigeria’s production stood at 1.46 million bpd in March, compared to 1.44 million bpd in February.

    Despite the marginal increase, Nigeria fell short of both its OPEC production quota of 1.5 million bpd and its 2026 budget benchmark of 1.84 million bpd, which includes condensate.

    Nonetheless, Nigeria retained its position as Africa’s leading oil producer, ahead of Libya, which recorded output of 1.30 million bpd during the period.

    Meanwhile, industry regulators and operators have outlined a coordinated roadmap to boost Nigeria’s crude oil production to three million bpd, emphasising the need for sustained regulatory reforms, increased investment, digitalisation, and critical infrastructure development.

    Speaking at the 26th Oloibiri Lecture Series and Energy Forum in Abuja, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, said the 3mbpd target by 2030 is achievable under the current policy direction.

    She noted that the goal builds on a near-term target of two million bpd by 2027 and would depend on frameworks that attract capital, encourage innovation, and enable digital oilfield operations.

    Eyesan added that the Petroleum Industry Act (PIA) 2021 has repositioned the upstream sector through a regulatory framework anchored on certainty, transparency, and performance, helping to restore investor confidence.

    According to her, recent projects such as Bonga North, Ubeta, and HI developments—collectively unlocking over $10 billion in investments—demonstrate the impact of clear policies and streamlined approvals.

    She further stressed that digital transformation, including real-time data systems, predictive maintenance, and advanced analytics, would play a critical role in reducing costs, minimising downtime, and boosting output.

    Eyesan also highlighted improved oil recovery as a key driver of production growth, noting that new performance-based frameworks now compel operators to maximise reservoir value.

    The post Nigeria misses OPEC quota, produces 1.38m bpd in March appeared first on Vanguard News.

  • Dangote Refinery drives historic shift as Nigeria becomes net petrol exporter

    Dangote Refinery drives historic shift as Nigeria becomes net petrol exporter

    By Udeme Akpan

    Dangote Petroleum Refinery & Petrochemicals has recorded a major milestone in Nigeria’s energy history, exporting 44,000 barrels per day (b/d) of gasoline in March 2026—an achievement that has positioned the country as a net exporter of petrol for the first time, with a surplus of about 3,000 b/d.

    The landmark development marks a decisive turnaround for Nigeria, Africa’s largest oil producer, which for decades depended heavily on imported refined petroleum products.

    Industry analysts say the export surge, driven by rising output from the refinery, is expected to generate significant foreign exchange inflows, easing pressure on the forex market and supporting macroeconomic stability.

    The March milestone highlights Nigeria’s accelerating progress toward self-sufficiency in refined petroleum products and reinforces its ambition to become a competitive player in the global downstream oil market.

    In a notable expansion of its international footprint, the refinery also exported gasoline to East Africa for the first time, shipping a 317,000-barrel cargo to Mozambique.

    The move reflects growing regional demand as buyers diversify supply sources away from the Middle East amid ongoing disruptions. Another gasoline cargo is scheduled for delivery to Beira, Mozambique, in April.

    Data from market intelligence firm Kpler showed that Nigeria’s gasoline imports dropped sharply to 41,000 b/d in March—the lowest level on record.

    Meanwhile, crude supply to the refinery rose to about 565,000 b/d, the second-highest intake since the 650,000 b/d-capacity facility began operations in late 2023. The figures indicate strong processing rates and improving product yields.

    Analysts say Nigeria’s transition from a major gasoline importer to an exporter is set to reshape regional trade flows and intensify competition in global fuel markets.

    The development could also exert additional pressure on Europe’s already oversupplied gasoline market as Nigeria emerges as a new supplier.

    Commenting on the broader economic impact, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, credited reforms by President Bola Ahmed Tinubu for restoring investor confidence and creating an enabling environment for large-scale investments in domestic refining.

    The post Dangote Refinery drives historic shift as Nigeria becomes net petrol exporter appeared first on Vanguard News.

  • Regulators, banks, others move to ease banking barriers for non-profits

    Regulators, banks, others move to ease banking barriers for non-profits

    By Udeme Akpan

    Nigerian regulators, banks, and civil society groups have intensified efforts aimed at easing stringent banking restrictions on non-profit organisations (NPOs).

    These concerns were expressed at the just-concluded multi-stakeholder working group convened by Spaces for Change, which brought together financial institutions, regulators, and non-profit representatives to address regulatory bottlenecks in Lagos.

    According to the non-profits, their biggest challenge is access to the financial system, particularly difficulties in opening and operating bank accounts due to strict compliance requirements.

    Speaking at the event, Victoria Ibezim-Ohaeri, Executive Director of Spaces for Change, said banks are reluctant to adjust without explicit directives from regulators.

    She said: “Banks say they know the law has changed, but the Central Bank has not directed them to enforce it. We are the ones facing the consequences of that gap.”

    “Previously, many banks categorised NPOs as high-risk entities. That is now beginning to change,” Ibezim-Ohaeri added, noting that training programmes are being conducted for financial institutions across the country.

    Similarly, Pattison Boleigha, Managing Director of Pattison Consulting Limited, said: “One of the major challenges is the inability of NPOs to open and operate bank accounts, in some cases hindering their ability to deliver essential humanitarian services.”

    Boleigha noted that many banks wrongly classify all non-profits as high-risk entities. “Financial institutions should not treat all non-profit organisations as high-risk,” he said.

    Also speaking, Bawo Egbakumeh, Registrar/Chief Executive of the Compliance Institute Nigeria, said improved engagement is bringing clarity.

    “There is now greater clarity on how NGOs operate and how they should be onboarded within the financial system,” he said.

    Confidence Obayuwana of the Nigeria INGO Forum added: “The needs continue to increase, and the government alone cannot meet them. This is where non-profit organisations play a critical role.”

    He further noted that private sector support should be seen as a strategic investment. “When you contribute to reducing poverty, it expands market opportunities for private sector players,” he said.

    The experts examined several issues, including the need for a uniform onboarding process across banks to standardise documentation and reduce compliance burdens, especially for smaller organisations.

    The post Regulators, banks, others move to ease banking barriers for non-profits appeared first on Vanguard News.

  • US lawmaker resigns over sexual misconduct allegations

    US lawmaker resigns over sexual misconduct allegations

    Democatic Representative Eric Swalwell announced his resignation from Congress Monday over allegations of sexual misconduct.

    Swalwell, who had been a candidate for governor of California, announced his decision in a statement posted to his account on X.

    “I am deeply sorry to my family, staff, and constituents for mistakes in judgment I’ve made in my past. I will fight the serious, false allegation made against me. However, I must take responsibility and ownership for the mistakes I did make,” Swalwell said in the statement.

    Swalwell’s troubles escalated rapidly over the weekend as reports in the San Francisco Chronicle and CNN detailed allegations from four women, including a former staff member who said he sexually assaulted her twice while she was too intoxicated to consent.

    Swalwell had suspended his gubernatorial campaign over the weekend.

    AFP

    The post US lawmaker resigns over sexual misconduct allegations appeared first on Vanguard News.

  • Iyabo Obasanjo steps down from Ogun gov race, backs Adeola

    Iyabo Obasanjo steps down from Ogun gov race, backs Adeola

    Governorship hopeful Iyabo Obasanjo has halted her ambition for the Ogun State top seat following the emergence of Senator Solomon Adeola, popularly known as Yayi, as the All Progressives Congress consensus candidate for the 2027 election.

    Obasanjo, who is the daughter of former President Olusegun Obasanjo, made this known in a statement she personally signed on Monday.

    Adeola, who currently represents Ogun West in the Senate, secured his position as the party’s consensus candidate during the meeting at the APC secretariat in Abeokuta.

    Obasanjo said, “I congratulate him and wish him every success. I also thank the state and national leaders of our great party for the opportunity to participate in the nomination process.

    “Based on these developments, I have decided to suspend my gubernatorial aspiration.

    “To my supporters across Ogun State, I am deeply grateful for your calm, steadfast support and unwavering trust throughout this journey. Together, we move forward with patience, strength and hope.”

    The post Iyabo Obasanjo steps down from Ogun gov race, backs Adeola appeared first on Vanguard News.

  • MMA2 explains parking tariff hike amid congestion

    MMA2 explains parking tariff hike amid congestion

    MMA2 operators, Bi-Courtney Aviation Services, have explained recent increases in multi-storey car park tariffs at Murtala Muhammed Airport Terminal 2, Lagos.

    The operator said the hike addresses congestion, discourages long-term parking, and restores space for legitimate airport users.

    This is contained in a statement by Head of Corporate Communications, Mrs Ajoke Yinka-Olawuyi, on Monday in Lagos.

    Yinka-Olawuyi said MMA2 has maintained strong safety and security records among Nigeria’s airport terminals.

    She said this is achieved through monitoring, access control, and proactive management of terminal facilities, including the car park.

    She said increasing long-stay vehicles have placed additional operational and security pressures on the facility.

    “Prolonged parking has created operational challenges and reduced space for legitimate users at the multi-storey car park.

    “Over time, the facility has been used for long stays, sometimes days, months or years, reducing availability for passengers,” Yinka-Olawuyi said.

    She noted passengers sometimes spend over 30 minutes searching for parking, causing missed flights and delays.

    She said congestion also builds around terminal drop-off and pick-up zones, affecting traffic flow and experience.

    According to her, the revised tariff aims to discourage long-stay parking and improve turnover for legitimate users.

    She said: “The review is not revenue-driven but an operational necessity to restore order, reduce congestion, and ensure safety and efficiency.”

    Saloon cars now pay N3,500 first hour, up from N2,500, with N2,500 for subsequent hours.

    SUVs now pay N4,000 first hour, up from N3,500, with N2,500 subsequent hours; buses N20,000; overnight N50,000; lost tickets N25,000.

    (NAN) 

    The post MMA2 explains parking tariff hike amid congestion appeared first on Vanguard News.

  • Leeds break 45-year wait for league win at Man Utd

    Leeds break 45-year wait for league win at Man Utd

    Noah Okafor fired Leeds to a long-awaited 2-1 win over 10-man Manchester United at Old Trafford as the Premier League strugglers boosted their bid to avoid relegation on Monday.

    Okafor punished United’s sloppy defending with a brace in the first-half before Lisandro Martinez was sent off after pulling Dominic Calvert-Lewin’s hair after the interval.

    Casemiro got one back for United, but Leeds held on for their first win against United since a shock 2010 FA Cup success when they were in the third tier.

    The Yorkshire club were able to celebrate their first top-flight win against United since 2002 and their first league victory at Old Trafford in 45 years.

    A first win in seven league matches lifted Daniel Farke’s side six points clear of the relegation zone, with six games left to preserve their top-flight status after last season’s promotion.

    As well as battling for survival, Leeds are through to the FA Cup semi-finals, where they face Chelsea at Wembley on April 26.

    While Manchester City and Liverpool are United’s main rivals, their fans’ enmity with Leeds supporters goes back decades, featuring numerous clashes between hooligan gangs.

    That made the defeat a bitter pill to swallow for United fans, who booed Michael Carrick’s side at full-time.

    It was only Carrick’s second defeat in 11 games since he replaced the sacked Ruben Amorim as interim boss in January.

    United remain in third place, seven points ahead of sixth-placed Chelsea in the race to qualify for the Champions League via a top-five finish.

    The last time United played Leeds, Carrick was on holiday with former Old Trafford team-mate Wayne Rooney and their respective families in Barbados.

    Carrick has revitalised United since taking charge, but one win from their last four games is a step back.

    United’s trip to Chelsea on Saturday offers another chance to take a step towards returning to Europe’s elite club competition for the first time since 2023-24.

    Leeds had failed to score in their previous four league games, but they blew United away with a blistering start.

    When Jayden Bogle whipped a fifth-minute cross towards Dominic Calvert-Lewin, United defender Leny Yoro was unable to clear and Okafor pounced with a clinical finish from 10 yards.

    With Harry Maguire suspended, United were shambolic at the back in the first-half and Okafor netted again after more defensive miscues in the 29th minute.

    United made a hash of clearing twice in quick succession and the ball was eventually worked to Okafor, whose strike took a hefty deflection off Yoro as it flashed past Senne Lammens.

    Carrick’s men were back in action for the first time in 24 days and they looked rusty after the enforced break.

    Lisandro Martinez was forced to make a last-ditch tackle on the goal-line to stop Ao Tanka scoring a third for Leeds after the Japan midfielder danced around Lammens.

    Benjamin Sesko’s effort was cleared off the line soon after the interval and United’s nightmare evening continued when Martinez saw red in the 56th minute.

    Martinez needlessly tugged Calvert-Lewin’s long hair and referee Paul Tierney sent him off after consulting the pitch-side monitor.

    Despite their numerical disadvantage, United reduced the deficit in the 69th minute when Casemiro met Bruno Fernandes’ cross with a thumping header past Karl Darlow from six yards.

    It was Fernandes’ 17th league assist this season, closing the gap on the single-season record of 20 held by Thierry Henry and Kevin De Bruyne.

    Calvert-Lewin squandered a golden opportunity to wrap up the points, heading straight at Lammens from close-range.

    Darlow made a superb save from Sesko’s header before Casemiro and Manuel Ugarte had efforts cleared off the line as Leeds held firm in a frantic finale.

    AFP

    The post Leeds break 45-year wait for league win at Man Utd appeared first on Vanguard News.

  • Why I moved from APGA, PDP, Labour Party to ADC — Obi

    Why I moved from APGA, PDP, Labour Party to ADC — Obi

    Former Labour Party presidential candidate, Peter Obi, has explained the reasons behind his movement across political parties, saying his decisions were guided by principles rather than personal interests.

  • Ogun 2027: City Boy Movement backs Abiodun’s choice of Adeola

    Ogun 2027: City Boy Movement backs Abiodun’s choice of Adeola

    Ogun West chapter of the City Boy Movement has praised Governor Dapo Abiodun for what it described as a decisive step in settling the state’s succession debate.

    The group also declared its full backing for Senator Solomon Adeola (APC/Ogun West) as preparations begin for the 2027 governorship race.

    Coordinator of the movement, Ayodeji Idowu, disclosed this in a statement issued on Monday following Abiodun’s public endorsement of Adeola, widely known as Yayi, as the All Progressives Congress consensus candidate for the next governorship election.

    The endorsement was made during a strategic caucus meeting involving APC leaders and key stakeholders, where discussions focused on succession planning and the party’s roadmap ahead of the upcoming election cycle.

    In a video from the meeting, Abiodun was seen informing party members that a decision had already been reached regarding the party’s preferred candidate.

    Reacting, Idowu said the governor’s action had ended years of uncertainty around succession in Ogun State, describing it as a sign of political foresight and commitment to continuity.

    “Your Excellency’s visionary leadership, political maturity, and commitment to the stability and progress of Ogun State have once again been demonstrated through this bold and strategic decision,” the statement read.

    “By choosing a worthy, people-oriented, and ready-made successor in Senator Solomon Olamilekan Adeola, you have laid a solid foundation for continuity, good governance, and sustainable development in the state,” it added.

    The group also congratulated Adeola on emerging as the party’s consensus choice, pointing to his achievements in infrastructure and his connection with grassroots communities as indicators of his preparedness.

    “His outstanding contributions to infrastructure development, coupled with his track record of delivering impactful, people-centred projects, clearly distinguish him as a leader prepared for the task ahead,” the statement read.

    The City Boy Movement further assured that it would activate its network across Ogun West to rally support for the APC in the election.

    “We are fully committed to mobilising our structures and grassroots network to ensure a resounding victory at the polls,” Idowu said.

    The post Ogun 2027: City Boy Movement backs Abiodun’s choice of Adeola appeared first on Vanguard News.

  • Over 400 Borno Residents In Terrorists’ Captivity, Situation Worsening – Ndume

    Over 400 Borno Residents In Terrorists’ Captivity, Situation Worsening – Ndume

    Senator representing Borno South, Ali Ndume, has raised alarm over the worsening security situation in the North-East, revealing that more than 400 residents are currently in the captivity of terrorists following recent attacks on communities in the state.

    Speaking on Channels Television’s Politics Today on Monday, Ndume described the development as heartbreaking, noting that many of the abducted victims are women, children, and the elderly.

    “I’m just coming back from the affected communities. We have statistics of over 400 people in captivity as displayed in the frightening videos released by the terrorists,” he said.

    The lawmaker explained that the attacks have left communities such as Goshe completely devastated, with widespread destruction of homes and infrastructure.

    “Everything has been destroyed in Goshe. As I said last time, there’s only a small mosque standing,” Ndume stated.

    He noted that displaced residents who fled to Pulka are living under harsh conditions and are increasingly demanding to return to their ancestral homes despite the destruction.

    “Our people are resilient. They don’t want to stay in IDP camps in Pulka because the environmental conditions there are worse than Goshe. They are insisting that if possible, they should be allowed to go back and camp there, even if it is temporary,” he said.

    Ndume added that the influx of displaced persons has overwhelmed Pulka, with many taking refuge in a primary school, thereby disrupting normal academic activities.

    “They are currently housed in a primary school, which means they have displaced the pupils. It is better to take them back to Goshe where they are willing to stay, even in makeshift shelters,” he said.

    He called for urgent measures to improve access to affected communities, particularly the road linking Pulka to Goshe, which he described as a major operational challenge for both civilians and security forces.

    “One of the advantages the insurgents are taking is that the road from Pulka to Goshe, which is only about 12 kilometres, is not motorable. If that road is fixed, you can get there in 10 to 20 minutes,” Ndume explained.

    On the recent resurgence of attacks, the senator attributed the escalation to retaliatory actions by insurgents following military operations that targeted their leadership.

    “When security forces went after their commanders and killed many of them, the insurgents regrouped and launched retaliatory attacks. They are now targeting our own military leadership,” he said.

    Ndume declined to comment on specific intelligence failures but stressed that inconsistent and unpredictable responses from security agencies have contributed to the current situation.

    “People expected decisive action after the declaration of a state of emergency on security, but what we saw was not consistent or predictable enough to end this threat,” he noted.

    He also expressed concern over what he described as inadequate equipment, manpower, and motivation for troops deployed in the affected areas.

    “Our soldiers are doing their best, but they don’t have enough equipment, they don’t have the numbers, and they need more motivation,” he said.

    The senator maintained that the insurgency could be significantly curtailed within a short period if the government demonstrates the required political will.

    “If the government is serious, we can end this thing in six months. All we need is to train, equip, and properly motivate our soldiers,” he asserted.

    Ndume further called for stronger collaboration between federal and state authorities, suggesting the creation of a centralised “situation room” to enable real-time coordination and rapid response to security threats.

    “If you declare a state of emergency on security, then it should reflect at the state level. There should be a situation room where the president is constantly briefed and immediate decisions are taken,” he said.

    He also appealed to the international community, particularly the United States, to support Nigeria with intelligence sharing, advanced technology, and specialised military expertise.

    “What we need is intelligence and technology. We don’t have enough drones. With proper deployment of drones and surveillance systems, we can significantly reduce this problem,” Ndume said.

    Explaining how such a large number of people could be abducted without interception, Ndume pointed to the geography of the area, noting that several communities are closely linked and largely ungoverned.

    “It’s not that they transported them in buses. These communities are within short distances, and people move on foot or bicycles. Many of these villages are practically stateless,” he explained.

    He added that the insurgency has evolved over the years from a religious extremist movement into a complex network involving terrorism, criminality, and opportunistic violence.

    “It started as an extremist ideology, but it has now turned into terrorism and even a business. Criminal elements infiltrated it, and it spread like cancer,” Ndume said.

    The senator warned that the crisis, which began in the North-East, is gradually expanding to other parts of the country, with increasing incidents of killings and kidnappings reported in the North-West and North-Central regions.

    “But now the North-West—Sokoto, Zamfara, Katsina—are competing with us in terms of losses of lives and kidnappings. The problem is spreading,” he cautioned.

    Over 400 Borno Residents In Terrorists’ Captivity, Situation Worsening – Ndume is first published on The Whistler Newspaper