General
Nigeria Issues First Petroleum Exploration License Under PIA
By Adedapo Adesanya
Nigeria has granted its first exploration licence, a Petroleum Exploration Licence (PEL), to TGS-PetroData Offshore Services Limited (TGS-PD) two years after the Petroleum Industry Act (PIA) was signed.
The Nigerian Upstream Petroleum Commission (NUPRC) said this was in compliance with the provisions of Section 71 (1) – (10) of the Act (PIA) signed by former President Muhammadu Buhari in August 2021.
The PEL, it said, is the first under the PIA 2021 and is under the licence agreement which the commission and TGS-PD executed for a Geophysical Survey Project for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data.
According to a statement signed by the chief executive of the NUPRC, Mr Gbenga Komolafe, the development was another milestone in the smooth implementation of the PIA for the attraction of investment in the oil and gas sector in Nigeria.
Without data, the NUPRC said reserves cannot be auctioned for development and revenue attraction.
“Data acquired under the PEL is not proprietary but speculative/multi-client survey data acquired in partnership with the NUPRC. The licence therefore authorises TGS-PetroData Offshore to carry out non-exclusive Petroleum Exploration Operations on a multi-client basis within the licensed area and permits the use of the acquired 3D seismic and gravity data by exploration companies.
“Due to the specialised nature of the Geophysical Survey Vessel to be used for the acquisition of the 3D seismic and gravity data, the Nigerian Content Development and Monitoring Board (NCDMB) granted no objection to TGS-PD to deploy the facility.
“The acquisition of the 3D seismic and gravity data commenced on July 17, 2023, and the processed data will be available for use by mid-2024,” the agency said.
The scope of the Geophysical Survey Project includes Phase 1 acquisition of about 11,900 sq. km of new 3D seismic and gravity data in water depths ranging from 30m to 4000m offshore Niger Delta.
According to the NUPRC, acquiring seismic and gravity data at the same time will improve the correlation of identified structures and reservoirs.
It added that the scope also includes a record length of 14 seconds, which is the first of its kind in Nigeria and will help image deeper reservoirs that have not been done offshore Niger Delta before now.
“The acquired seismic and gravity data will be processed using the latest TGS proprietary technology. The acquired data will be licensed to exploration companies.
“The commission listed one of the benefits that Nigeria will derive from the new 3D seismic and gravity data acquisition as the availability of new regional 3D seismic and gravity data in deep waters ranging from 30 meters to 4000 meters offshore Niger Delta.
“The commission has the sole right and title over the acquired raw and interpreted data to be obtained by the licensee (TGS-PD) under a petroleum exploration licence. Therefore, the 3D seismic and gravity data belongs to the Nigerian government.
“Based on section 71(7) of the PIA, the commission and federal government shall benefit from the revenue that will be generated from the data use licence that will be granted to interested exploration companies by TGS-PD.
“The new 3D seismic and gravity data being acquired will further provide an opportunity for understanding the regional petroleum system of the ultra-deep waters of Nigeria and unlock the hydrocarbon prospectivity of Nigeria’s frontier basins (Ultra-deep offshore),” it stressed.
According to the NUPRC, the 3D seismic and gravity data when acquired will be useful in future deep water licensing rounds which will attract Foreign Direct Investments (FDIs) into oil and gas exploration in Nigeria as well as create opportunities for increasing oil and gas reserves and production.
The NUPRC stated that it will further create opportunities for Nigerian content development and employment of Nigerian professionals.
General
ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
General
FG Declares Holidays for Christmas, New Year Celebrations
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
General
Dangote Refinery Warns Against Artificial Petrol Scarcity
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
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