General
Increased Production to Drop Nigeria’s Petrol Deficit by 39%—Kpler
By Adedapo Adesanya
Increase in production volume at refineries in Nigeria will reduce petrol deficit in the country by 39 per cent to 170,000 barrels per day in 2025 from 280,000 barrels per day, according to Kpler.
Kpler, a market insights firm focused on the energy and shipping markets, said in a report that increasing output at the Dangote and Port Harcourt refineries throughout 2025 are expected to significantly lengthen not just Nigeria but West Africa’s petroleum (gasoline) balances.
“Increasing refinery runs at Nigeria’s Dangote and Port Harcourt refineries throughout 2025 are expected to significantly lengthen West Africa’s gasoline balances,” the firm said.
It confirmed that the shift will pose challenges for European refiners, with European gasoline exports to Nigeria already dropping to a four-year low of 70,000 barrels per day in December.
Recall that the Organisation of the Petroleum Exporting Countries (OPEC) recently said that the increased production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe.
The 650,000 barrels per day Dangote oil refinery built by Nigerian billionaire, Mr Aliko Dangote, in Lagos, had affirmed to compete with European refiners when operating at full capacity.
Although, when it started operations last year, it struggled to secure sufficient crude locally — as production remains below target and tied to contracts with other players by the Nigerian National Petroleum Company (NNPC) Limited.
Kpler said that following the commissioning of key units within the gasoline block-Reformer, isomerization, RFCC, and Alkylation-this output is reflected in the sharp reduction in residue and naphtha production.
“We estimate that Dangote’s RFCC (the most critical unit for high- volume gasoline production) is currently operating at 40-45% capacity, placing total Nigerian gasoline production at above 100 kbd,” Kpler added.
It wrote that, “Dangote’s fuel oil exports, for instance, fell from 60 kbd in 23 to just 6 kbd in Q4, while naphtha exports also dropped significantly q/q,” adding that, “Achieving higher yields and production volumes will depend on further romping up RFCC unit rates, a milestone antiopated by late 2025.”
Kpler pointed out increased production volumes at Dangote will reduce “Nigeria’s gasoline deficit from -280 kbd in 2024 to -170 kbd in 2025 (and-100 kbd in 2026).”
It explained that while Dangote’s petrol will primarily cater to domestic markets, the refinery is also poised to become a major suppler across Western, Central, and Southern Africa.
It added that Dangote Refinery shipped about 60,000 barrels per day in the last quarter of 2024 to Congo, Ghana, Angola, Cameroon, and others.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
