Gas
Civil society groups back ongoing oil and gas sector reforms
Civil society organisations in Abuja have commended recent operational and financial progress within Nigeria's petroleum industry.
Key points
- The Parliamentary Support Network and Reformers Network praised NNPCL's leadership during an Abuja press briefing.
- Groups highlighted a 33 per cent profit increase and higher production figures from the 2025 audited financial statements.
- A temporary petrol price discount was noted as a measure providing short-term relief to consumers.
Reform progress
According to New Telegraph, a coalition comprising the Parliamentary Support Network and the Reformers Network has expressed support for ongoing policy changes in Nigeria's energy sector. Speaking in Abuja, representatives including Ambassador Muhammad Abdulrazaq and Comrade Adams Umoren stated that implementation of the Petroleum Industry Act is improving transparency and delivering tangible economic benefits.
Financial performance
The groups pointed to NNPCL's 2025 financial statements presented to President Bola Tinubu, which recorded a profit after tax of ₦7.2 trillion. This figure marked a 33 per cent rise compared to the previous financial year. Additionally, the briefing highlighted declared dividends totaling ₦5.8 trillion and crude oil and condensate output reaching 1.77 million barrels per day.
Consumer relief measures
Organisers also referenced the introduction of a ₦66-per-litre reduction on petrol prices across retail outlets for a 30-day period. The initiative was described as a corporate responsibility effort designed to assist households and motorists facing high living costs, while remaining distinct from previous subsidy frameworks.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Gas is the flexible backbone of many grids and the designated transition fuel in many national plans, from LNG trade to domestic LPG and CNG. Supply security and pricing drive both power reliability and emissions.
72.9% of electricity in Nigeria came from gas in 2024Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
