Business
Nigeria LPG Supply Falls Amid Rising Prices and Middle East Crisis
Nigeria’s LPG supply and consumption decline in February 2026 amid rising global oil prices, pushing cooking gas prices higher nationwide
The supply of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, fell by 8.5 per cent month-on-month to 4.7 metric tonnes per day in February 2026 from 5.1 metric tonnes per day in December 2025, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (Nigerian Midstream and Downstream Petroleum Regulatory Authority) February 2026 Factsheet.
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The report also showed that domestic LPG consumption decreased by 20 per cent to 4,194 metric tonnes per day in February from 5,050 metric tonnes per day in January.
Analysts attributed the decline to the recent Middle East crisis, which drove crude oil prices to approximately $84 per barrel, affecting petroleum product prices across the country.
A survey of gas stations in Lagos indicated that retail prices for a kilogram of LPG now range between N1,050 and N1,300, with some stations charging up to N1,500 per kg.
The NMDPRA report noted that February retail prices per kg ranged from N980 to N1,500, compared with N950 to N1,550 in January.
Wholesale supply also declined slightly, with total LPG supplied standing at 4.771 BSCF per day in February 2026, down from 4.837 BSCF per day in January.
Average daily gas supplied to the domestic market decreased to 1.763 BSCF per day from 1.906 BSCF per day during the same period.
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The agency warned that continued international market volatility could further affect domestic supply and pricing, with implications for households relying on LPG for cooking.
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Business
Kola Karim’s Shoreline Group Signs $300 million Deal With Accor to Develop Nigeria’s First National Hotel Platform
Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.
The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.
This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.
As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.
These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.
Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.
“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.
“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”
The Agbaoye of Ibadanland and Chairman of Shoreline Group, Karim, commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.
“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.
“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.
“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”
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