Integrity Advocacy for Development Initiative (IADI), a civil society organisation (CSO), has condemned the planned ban on alcohol in sachets and PET bottles below 200ml, describing it as misguided and unlikely to reduce alcohol abuse.
In a statement on Wednesday, December 31, 2025, IADI Executive Director, Christopher Ofomhi, said targeting packaging formats did not address the root causes of substance abuse.
He warned the ban could push consumers toward larger bottles, increase excessive drinking, threaten the livelihoods of small-scale traders, and fuel the circulation of unregulated and counterfeit alcohol, which posed greater public health risks.
Alcoholic drinks in sachets and small volume bottles
Ofomhi also criticised NAFDAC for allegedly using the ban to divert attention from its ongoing regulatory failures, particularly in combating fake and substandard drugs.
“NAFDAC must face its responsibilities and ensure product safety and authenticity, not restrict lawful adult consumption,” he said.
The CSO urged NAFDAC to reconsider the policy, focus on tackling counterfeit products, strengthen regulation, and restore public trust; actions it says would more effectively protect Nigerians.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reported a Profit After Tax (PAT) of N502 billion in November 2025.
The NNPC Limited made this known in its Monthly Report Summary for November 2025, released on Wednesday, December 31.
The report also highlighted key figures, including crude oil and condensate production, natural gas output, revenue, strategic initiatives during the period, and more.
Bayo Ojulari, GCEO, National Petroleum Company (NNPC) Limited
The report showed that the NNPC Ltd generated a total sum of N4,358 billion within the same period reported.
It also revealed that Crude Oil and Condensate Production was 1.60 million barrels per day (mbopd), while Natural Gas Production was 6,968 mscf/d in November 2025.
The report put NNPC’s statutory payments between January and August 2025 at N12.117 billion, while disclosing 61 per cent Premium Motor Spirit (PMS) availability in its retail filling stations across the country.
It said that November production performance was largely due to planned maintenance activities across key assets nearing completion, with production recovery expected at the end of December 2025 and continued delays with WAEP first oil.
It listed the key assets as Esso-Erha, Stardeep-Agbami and Renaissance-Estuary Area.
It announced that it has completed the 2025 scheduled facilities Turn Around Maintenance (TAM), and production initiatives from JV, PSC, and NEPL assets in readiness for delivering the 2026 production plan.
The report put the overall completion of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project at 90 per cent, disclosing that sustained focus is being directed towards completion of the mainline welding works and pressure-testing.
According to the report, the project is to be completed in 2026.
The report also put the completion of the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project (River Niger Crossing) at 96 per cent, revealing that all required equipment, materials and personnel have been mobilised to site.
A new off-road electric vehicle manufactured in Europe was tested by nature conservationists in the European Serengeti large herbivore reserve near Prague. The Spartan EV 2.0 electric off-roader produced by the European company MW Motors had to handle the harshest of terrains during the tests.
“We tested the off-road electric vehicle in the roughest part of the reserve, which is nicknamed the ‘tank graveyard’. During the tests, the EV managed to traverse the most difficult of terrains and steep slopes. Of the off-roaders that we’ve used or tested at the reserve over the ten years of its existence, it definitely handles the terrain the best,” said Dalibor Dostal, director of the European Wildlife conservation organisation, which founded the large herbivore reserve in collaboration with scientists in 2015.
Spartan EV 2.0 off-road electric vehicle
The large herbivore reserve is striving to implement the changeover to zero-emission equipment as fast as possible. A Polaris Ranger electric utility vehicle with a flatbed has been used for everyday care of the reserve since last year. In the near future, the reserve also needs a multi-seat vehicle for visitors, school excursions, film-makers and other fairly large groups that the existing working machine cannot accommodate.
“A fast transition to electromobility in the reserve is important not just for limiting greenhouse emissions. Exhaust emissions from internal combustion engines also adversely impact biodiversity and human health. That’s why electric vehicles have several benefits. It’s in nature conservation and forest care in particular that the transition to electromobility should be faster than in other fields,” added Dostal.
The Spartan EV 2.0 electric off-roader was placed on the market by MW Motors last year. In terms of appearance, the vehicle resembles the German Mercedes-Benz G-Class. The sturdy off-roader with a range of 240 km can pull up to 3.5 tonnes and is intended for a segment that does not have a broad offer in the Czech market as yet.
The vehicle also manages to draw energy through fast charging; its V2L interface enables it to charge various electric tools or domestic appliances. The vehicle is manufactured in two sizes: in four-seat and six-seat versions. Both have a cargo variant available, in which the back seats are replaced by a storage space.
“The main advantage is its ease of off-road control. Even an unexperienced driver can handle a complicated section. The huge torque available in a wide range of speeds provides a sense of security. You can get up a steep hill just by lightly touching the accelerator. Thanks to precise power delivery, it is possible to move literally by centimetres, which is appreciated by anyone who must manoeuvre, for example, with a trailer in difficult terrain,” says Martin Vesely, technical director of MW Motors.
Thus, typical users of the off-road electric vehicle include nature reserves, farmers, foresters and people who need to utilise the advantages of an electric vehicle in harsh terrain. The UK is one of the main markets for the electric off-roader.
MW Motors was founded by Irish native Maurice Anthony Ward in 2017. In addition to the Spartan EV 2.0 electric off-roader, it is also developing the Luka EV retro electric sports car.
The Federal Government of Nigeria has stated that it harbours no plans to unlawfully arrest, detain, or prosecute opposition figures. This clarification is in response to a supposedly fabricated document in circulation alleging the establishment of a multi-agency task force for a purported programme tagged “ADP4VIP” (Arrest, Detain, Prosecute for Very Important Persons).
Mohammed Idris, Minister of Information and National Orientation, disclosed in a statement that the document falsely claims that a task force comprising the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU), coordinated by the Office of the National Security Adviser, aims to aggressively target prominent opposition figures without due process.
Minister of Information and National Orientation, Mohammed Idris
“The authors of this deliberate disinformation imprudently cite ‘multiple credible sources’ to allege a planned “systematic weakening and neutralisation of opposition political activity,” particularly within the African Democratic Congress (ADC),” submitted Idris.
The Federal Government, he added, wishes to state emphatically:
1. There is no such programme as “ADP4VIP.”
2. The administration of President Bola Ahmed Tinubu, GCFR, is firmly and successfully focused on its core agenda: implementing measurable economic reforms, defeating insecurity, expanding trade opportunities, and restoring investor confidence.
3. The attempt by some opposition elements to frame lawful accountability as political targeting is a dangerous red herring designed to shield so-called VIPs from answering to our national laws and anti-corruption agencies.
He went further: “The Government underscores its foundational principles. Section 40 of the 1999 Constitution (as amended) guarantees every Nigerian the right to freely associate and assemble. President Tinubu swore an oath to uphold this Constitution and its protections, including the freedoms of association and religion. He is a democrat with considerable and positive footprints.
“Under President Tinubu’s leadership, the Federal Government remains unwavering in its commitment to the rule of law, due process, and the independence of institutions. Nigeria is a constitutional democracy where law enforcement and judicial agencies are obligated to perform their duties professionally, without interference, and in the nation’s best interest.
“Politicians and citizens are therefore enjoined to desist from engaging in disinformation, misinformation, and fake news, especially in an era where credibility is intrinsically linked to informational fidelity.
“With the 2027 general elections on the horizon, the public should anticipate an increase in fabricated narratives and political blackmail by actors who employ falsehood as a strategy for relevance. We urge all Nigerians to remain vigilant and to reject the politics of distortion and division.
“Every Nigerian retains the constitutional right to lawful association and political activity. Concurrently, our security and anti-corruption institutions retain the lawful mandate to operate in the nation’s interest.
“As we draw the curtain on 2025 and step into a new year, this government will not be distracted by those invested in perpetual politicking. Nigerians deserve continuity, progress, and tangible results – and that is what the Tinubu Administration remains dedicated to delivering.”
The launch of Nigeria’s e-Pharmacy Policy, according to industry experts, marks a decisive transition in the pharmaceutical service delivery because of its unifying and regulatory framework that governs both electronic and hybrid pharmacy practices across the country.
In a ceremony hosted by the Federal Ministry of Health & Social Welfare in Abuja, Nigeria’s capital, to unveil the plan, the stakeholders, while narrating the journey that led to the development of the document, said they were happy because for the first time, the nation now has a guideline that formally integrates digital pharmacy into Nigeria’s broader health-system architecture.
L-R: David Adeyemi, CEO/Founder, Pharmachain Technologies, and the Registrar/CEO of the Pharmacy Council of Nigeria (PCN), Ibrahim-Babashehu Ahmed, during the launch of the National e-Pharmacy Policy held in Abuja
They are further excited because the framework also positioned e-Pharmacy as a regulated complement to physical service delivery rather than an informal, parallel market.
“I will say that the policy is actually great because it protects indigenous innovators,” David Adeyemi, CEO/Founder, Pharmachain Technologies, stated while delivering his goodwill speech at the launch of the policy.
The pharmacist believes the unveiling of the guideline was significant because if properly implemented, he said it will help to address the various health challenges that are currently bedevilling the country, especially the issues around out-of-pocket expenditure, workforce shortages, and uneven availability of essential medicines and family planning services.
Disclosing the historical origin of his organisation and its pathway in the e-pharmacy sector, he hinted that it all started during COVID-19 when they were motivated and thought of how to penetrate the lockdown that the world experienced during that period to get essential medicines across to those in need.
He expressed optimism that the policy will be well executed as a matter of urgency, considering its long-awaited arrival and the fact that Nigeria is many steps behind other countries in having a framework for the deployment of e-Pharmacy to deliver effective healthcare services.
For a country like Nigeria, where you find all sorts of web platforms selling and advertising medicines, Adeyemi, whose establishment was among those selected to draft the policy, assured that with the release of the policy, innovators, software developers, and business owners will now know that there is a formal way of approaching the e-pharmacy practices in the nation.
In response to how those in rural communities will benefit from this new guideline, he said it will help address the issue of quack practices in those areas and increase access to certified e-pharmacy stores, which remained a very big hurdle.
“The government has to communicate to help people know that they are not trying to stifle innovations, because the spirit of this document was made to be fair and encourage innovators,” the Pharmachain Technologies chieftain said when asked what he would do differently if in the position to ensure that the policy is effectively implemented to redirect the nation on the path of medical prosperity.
He commended the Ministry for considering his organisation and others worthy of participation in the process, which he said made it more inclusive by capturing all voices and improving the final document.
The policy, according to the Coordinating Minister of Health and Social Welfare, Professor Ali Pate, would regulate the production and sale of pharmaceuticals and allow Nigerians access to quality-assured medicines.
Pate, who was represented at the meeting by the Director of Food and Drug Services, Olubumi Aribeana, said the policy was inspired to advance the healthcare delivery and allow Nigerians access to affordable medicine without the conventional barriers of location.
He went on to say that the framework’s implementation will also help to address the issue of fragmentation and lax oversight of online pharmaceutical sales, which had created dangerous gaps where poor and counterfeit medicines, unlicensed vendors, and disinformation flourish.
“Today marks a bold step forward in our collective mission to modernise healthcare delivery and ensure that every Nigerian has access to safe, affordable, and quality-assured medicines—no matter where they live,” Prof. Pate stated.
In the same line of thought, Ibrahim-Babashehu Ahmed, the Registrar/CEO of the Pharmacy Council of Nigeria (PCN), acknowledged that the policy would provide strategic direction for regulation, especially for PCN, being the implementing agency.
“We have developed the regulation to guide this particular endeavour. The regulation was approved by the Coordinating Minister of Health and endorsed by the Minister of Justice,” he noted.
He assured that PCN is positive that there will not be any difficulty in the implementation of the policy, urging Nigerians to embrace the document to ensure it successful execution.
In all honesty, the National e-Pharmacy Policy clearly signifies Nigeria’s shift from preparation to action based on the remarks made by the different speakers. Its impact, however, will depend on its deployment being disciplined and equitable, establishing e-pharmacy as a long-lasting foundation of the health system that increases access, fortifies regulation, and provides care with dignity.
Regulatory reform is emerging as a decisive factor in Africa’s push to raise oil and gas output and attract new investment, with leading producers such as Angola, Nigeria and the Republic of Congo demonstrating how clearer rules and targeted incentives can deliver tangible results.
Angola has positioned itself as one of Africa’s most proactive reformers, rolling out multi-year licensing rounds, establishing the National Oil, Gas & Biofuels Agency and introducing measures such as the incremental production decree.
The reforms have revived exploration in frontier and mature basins, leading to discoveries including ExxonMobil’s Likember-01 and Azule Energy’s Block 1/14 gas find.
Oil
Integrated developments such as Kaminho, Agogo and the New Gas Consortium project are helping sustain production above 1 million barrels per day, with authorities citing a projected investment pipeline of about $70 billion over the coming years.
Nigeria has also underscored the impact of reform through the Petroleum Industry Act of 2021, which streamlined licensing and reduced bureaucratic hurdles.
The changes are aimed at restoring investor confidence and lifting output toward a target of 2.5 million barrels per day.
Licensing rounds held in 2024 and 2025 have further boosted interest, with a November 2025 bid round offering 50 blocks and targeting $10 billion in new investment.
The Republic of Congo is pursuing similar measures as it targets production of 500,000 barrels per day and seeks to expand liquefied natural gas capacity to 3 million tons per year.
Planned reforms include a Gas Master Plan, a dedicated Gas Code and new licensing rounds, alongside ongoing projects such as TotalEnergies’ $600 million investment in Moho Nord and the second phase of Congo LNG, which began operations in November 2025.
The experiences of Africa’s largest producers are increasingly shaping policy choices in emerging markets.
Namibia, following major offshore discoveries in the Orange Basin, is targeting first oil by 2029 through projects led by TotalEnergies and Galp, while a December 2025 onshore discovery by ReconAfrica has added to its prospects.
Analysts say stable fiscal regimes and predictable regulation will be key as the country moves from exploration to development.
Uganda, which expects first oil from the Kingfisher and Tilenga fields in 2026, is also drawing lessons from regional peers.
Its development strategy includes the 1,443-kilometre East African Crude Oil Pipeline linking Lake Albert to Tanzania’s Port of Tanga, highlighting the importance of aligning upstream, midstream and industrial policies.
As discoveries mature across the continent, experts say regulatory frameworks must evolve from exploration-focused policies toward comprehensive strategies covering development, commercialization and exports.
That shift is expected to feature prominently at African Energy Week 2026, where governments, regulators and investors will exchange best practices.
“Africa’s energy future will be built by countries that embrace reform, attract investment and move fast,” said NJ Ayuk, executive chairman of the African Energy Chamber.
“Policy clarity, stability and bold decision-making remain central to unlocking projects and expanding access to energy.”
Heirs Energies, said to be Africa’s leading indigenous integrated energy company, has acquired the entire 20.07% equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc at a price of £3.05 pence per share, valuing the transaction at approximately $500 million.
The acquisition represents a further milestone in Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.
Chairman of Heirs Energies, Tony O. Elumelu
Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said: “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialisation, and shared prosperity. Seplat Energy has built a resilient, well-governed platform with compelling long-term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”
The landmark achievement was supported by two leading African financial institutions – Afreximbank and AFC – further demonstrating Africa’s capacity to finance its own deals.
Having a strong focus on safe operations, innovation driven growth, environmental responsibility, and creating shared prosperity for all stakeholders, Heirs Energies operates OML 17 in the Niger Delta, producing over 50 thousand barrels of oil per day (50 kbopd) and 120 million cubic feet of gas per day (120 mmcfd), with reserves base of over 1.5 billion barrels of oil (MMBo) and 2.5 trillion cubic feet of gas (Tcf).
Seplat Energy Plc is a Nigerian independent energy company focused on oil and gas exploration, production, and gas processing, primarily in the Niger Delta. It is listed on both the Nigerian Exchange and the London Stock Exchange and is as a key player in Nigeria’s energy transition.
President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Victor Alonge, says Nigeria’s new tax reforms will positively impact the real estate sector from Jan. 1, 2026.
Alonge spoke on Tuesday, December 30, 2025, in Lagos during a press briefing marking the signing of a Memorandum of Understanding between QShelter Ltd and M.I. Okoro and Associates.
The firms signed the MoU to jointly market housing units under the Federal Government’s Renewed Hope Housing Schemes across Abuja, Kano and the Lagos Coastal Road corridor.
NIESV President and Chairman of Council, Victor Alonge
Speaking at the event, Alonge said the reforms would boost real estate investment and expand home ownership opportunities nationwide.
“The new tax law is actually a positive thing for the real estate sector,” Alonge said.
He explained that the law exempts several small-scale businesses within the construction value chain, describing it as a model adopted by advanced economies for growth.
Alonge added that value added tax had been removed for the informal segment of the construction industry under the new law.
He said although large construction firms would still pay VAT on some materials, provisions exist to offset costs through other incentives, including local production.
According to him, savings from the reforms will strengthen mortgage financing and improve access to housing for Nigerians.
“So it’s something that we need to see as positive for our industry,” Alonge said.
He described the law as one of the most beneficial for Nigerian workers, citing broad tax exemptions for low-income earners.
Alonge said it was encouraging that about 90 per cent of workers would no longer pay taxes due to the higher income threshold.
Also speaking, Mr. Adegbenga Alamu, Chief Operating Officer, QShelter Ltd., said cheaper debt servicing would stimulate real estate investment under the new regime.
“The interest paid on a mortgage is now deductible before tax computation, making borrowing cheaper for home buyers.
“For those of us from banking, if I have cash, I will borrow. Debt is cheaper and better with the new law,” Alamu said.
The firms of QShelter Limited and M. I. Okoro & Associates have signed a Memorandum of Understanding (MoU) towards the marketing of the Federal Government sponsored Renewed Hope Housing Estates in Abuja and Kano, as well as the 2004 Coastal Road Estate in Lagos.
Chairman, QShelter Limited, Mr. Kola Sowande, and Principal/CEO of M. I. Okoro & Associates, Dr. Innocent Meckson Okoro, signed the MoU on behalf of their respective organisations at a media session in Lagos on Tuesday, December 30, 2025.
The duo disclosed that they signed the MoU agreement to guide the two companies in their resolve to collaborate in the marketing of the various units of accommodation being marketed by QShelter Ltd as sole agent.
L-R: Chairman of Qshelter Limited, Pastor Kola Sowande, Chief Commercial Officer, QShelter Limited, Dare Makinde, Chief Operating Officer, QShelter Limited, Gbenga Alamu and Principal/CEO of M. I. Okoro & Associates, Dr, Chief M. I Okoro at the MoU signing in respect of marketing of Fed Govt Renewed Hope Housing Estates in Lagos, Abuja and Kano, held in Lagos
They also highlighted the successes of QShelter in the housing delivery within the context of Renewed Hope Housing Estates, which is the initiative of the Federal Government of Nigeria under the leadership of President Ahmed Bola Tinubu.
“The present Renewed Hopes Housing Policy of the Federal Government is a policy in the right direction because it addresses the housing needs of the middle class, and with the funding arrangement via FMBN NHF Mortgage and Rent to own of 6% and 7% respectively that guarantees ₦50 million per subscriber and a tenure of up to 30 years mortgage which is a decision in the right direction and highly commendable.
“The most recent addition to the Nigeria’s housing finance landscape is the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), under which 250 billion has been made available for disbursement to Nigerians seeking homeownership. The fund offers mortgage financing at a rate of 9.75%, with eligible individuals able to access up to N100 million per beneficiary,” Sowande and Okoro disclosed in a joint presentation.
Highlighting the efforts both firms are putting in place to ensure Nigerians all over the world benefit from the Renewed Hope Estates, Sowande and Okoro said that they are putting plans together to stage an international building exhibition in Liverpool, United Kingdom, during the Nigerian–UK Golfing Association International Golf tournaments holding in Liverpool, UK, which will attract Nigerian Golfers from Nigeria, UK, USA, Canada, etc.
“Also, this partnership will engage with the management of Access Bank Plc to work out arrangements for our sales team to participate in their annual polo tournament in London coming up within the 2nd quarter of 2026. Both arrangements will go a long way to address the UK Nigerian audience.
“While we have also commenced arrangements to feature in the OTC World Oil Institutions Conference holding in Houston USA about May 2026, this particular move will go a long way in addressing the Nigerian audience in the United States of America. Trust us, we shall leave no stone unturned in making sure that we succeed in addressing the interest of our Nigerians abroad as far as Renewed Hope Estates is concerned.”
Okoro commended government for the initiative of delivering houses to the teaming population and matching it with funding cum mortgage facilities of 20 years tenure and single-digit interest rate with contribution of 10% equity from the subscribers.
He said: “This is the first in the history of Nigeria that we are getting closer to what obtains in overseas countries. Now that this initiative has started, I implore the Federal Government through the Ministry of Housing and Urban Planning to ensure that this housing provision strategy does not die even after the eight years of President Ahmed Bola Tinubu’s administration. What the Ministry could be doing is to gather data based on feedback from the present initiative of the Renewed Hope Estates and try to modify the strategy where necessary in order to achieve far better approach and strategy in future housing policy and delivery.
“Critical components in housing delivery are finance, land and infrastructure generally. In order for the cost of our housing delivery to get cheaper, I suggest government will pay more attention on directly allocating lands for this type of developments, and put in place as a matter of deliberate policy infrastructure such as good roads, electricity, pipe-borne water, good transport/mass transit to move the population that occupy these developments, particularly where the land is far from the urban center.
“Such easy transport system would motivate people to buy and occupy the estate, while government direct involvement on infrastructural development would reduce the selling price per unit. If the developer is allowed to create roads, put electricity, water etc, the costs of these facilities will push up delivery cost of the estate per unit.
“I also suggest that in every Federal Government Housing Estate, let the developer incorporate solar panels as a means of power supply in order not to allow the subscribers to start buying generators to power the buildings throughout.”
Experts in the oil and gas industry have said that Nigeria could still secure a more sustainable oil and gas future if it gets governance right, enforces existing laws and restores confidence in regulation.
The experts, in separate interviews on Tuesday, December 30, 2025, in Lagos, said that the country’s biggest challenge was no longer the availability of oil and gas, but how the sector was managed.
They warned that weak institutions, policy inconsistency and poor execution continue to erode value in Africa’s largest energy producer, in spite of its vast hydrocarbon reserves.
Minister of State, Petroleum Resources (Oil), Sen. Heineken Lokpobiri (left) with Minister of State, Petroleum Resources (Gas), Ekperipe Ekpo
According to them, 2026 will be a decisive year, as Nigeria faces a clear choice between strengthening institutional discipline or sliding back into discretionary, personality-driven governance.
Prof. Wumi Iledare, Prof. Emeritus of Petroleum Economics, Louisiana State University, said the outlook for the sector in 2026 would depend more on governance quality and regulatory discipline than on geology.
“Nigeria is richly endowed with petroleum resources, but sustainable value creation depends on faithful implementation of the Petroleum Industry Act (PIA), regulatory neutrality and credible leadership,” Iledare said.
He stressed that the industry does not need new laws or emergency interventions, but consistent enforcement of existing regulations.
“What the sector needs in 2026 is predictable regulation, institutional restraint and strict adherence to the PIA,” he said.
Iledare pointed to the absence of fully constituted governing boards for petroleum regulatory agencies as a major weakness in the current framework.
He explained that the PIA deliberately created boards for the Upstream Commission and the Petroleum Authority to ensure accountability, strategic oversight and protection against regulatory capture.
Without such boards, he warned, regulators risk becoming overly personalised and exposed to political and commercial pressure.
On upstream operations, Iledare called for urgent steps to halt declining production, including better asset security, faster project approvals and transparent fiscal administration.
He said divestments by international oil companies must be closely monitored to ensure technical competence, financial strength and environmental responsibility.
On the downstream, he explained Nigeria was going through a structural market transition rather than a market failure, urging regulators to enforce competition rules and remain neutral among dominant players.
He also advised government to step back from refinery operations and focus on creating a stable and predictable commercial environment.
“Refining is a business, not a sovereign obligation. It will only thrive if private investors operate on a level playing field,” he said.
Iledare added that the commercialisation of the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) would remain incomplete if balance-sheet discipline is replaced by repeated fiscal bailouts.
“Institutions, not improvisation, must guide the sector in 2026,” he said.
In a similar view, Dr Ayodele Oni, Partner and Chair of the Energy and Natural Resources Practice Group at Bloomfield Law Practice, said 2026 should be defined by policy stability and effective implementation.
He said crude oil production could rise toward the Nigerian Upstream Petroleum Regulatory Commission’s target of 2.5 million barrels per day from the current 1.7 million barrels per day to 1.83 million bpd, but only with coordinated action across regulatory, operational and security fronts.
Oni noted that indigenous producers, following asset divestments by international oil companies, now carry greater responsibility for sustaining output and would require government support through financing frameworks, timely approvals and fiscal incentives.
On the downstream sector, he projected modest gains in domestic refining driven by the Dangote Refinery and modular plants, but cautioned that progress depends on enforcing Domestic Crude Supply Obligations.
He also said cleaner fuels such as compressed natural gas, liquefied natural gas and liquefied petroleum gas are likely to gain wider adoption in 2026.
On security, Oni said crude theft and pipeline vandalism continue to drain production, urging operators to strengthen environmental, social and governance practices to reduce community tensions.
Responding to governance concerns, Mr Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd., said the company operates under a best-practice governance framework established by the PIA.
He said NNPC Ltd. runs transparent procurement processes, maintains board oversight of major contracts and applies commercial, arm’s-length crude allocation systems.
Odeh added that legacy joint-venture cash call arrears have been cleared through pre-funded budgets, while the company’s accounts are audited by international firms and overseen by statutory institutions.
On refineries, he said reviews of NNPC’s four refineries are ongoing, with plans to disclose technical and equity partners to reposition the assets on a commercial footing.
