Business
Nigeria Oil Production 2025 Surges Past 1.8m bpd, Boosting Budget Hopes
Nigeria oil production 2025 hits 1.8m bpd in July, boosting hopes of meeting the 2.06m bpd budget benchmark and supporting oil revenue targets through innovation
Nigeria oil production 2025 is gaining renewed momentum as the country surpassed a key milestone in July, reaching a peak output of over 1.8 million barrels per day (bpd) the highest for the year so far.
Also read: Nigeria Upstream Oil Resurgence Boosts Output, Revenue, Investor Trust
This achievement, confirmed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), brings Nigeria closer to meeting the 2.06 million bpd production benchmark outlined in its ambitious N55 trillion 2025 budget.
The development also bolsters the country’s goal of generating N19.6 trillion in oil revenue, long hindered by chronic underproduction.
Speaking at the SPE Nigeria Annual International Conference and Exhibition (NAICE), NUPRC Chief Executive Gbenga Komolafe attributed the production boost to enhanced regulatory frameworks, increased technological adoption, and proactive stakeholder collaboration.
He emphasized the agency’s shift toward enabling a stable, efficient, and transparent upstream sector—underpinned by the Maximum Efficient Rate (MER) framework, local supply chain development, and decarbonisation strategies.
Moreover, Komolafe highlighted Nigeria’s embrace of digital transformation across exploration and production, as well as recent regulations under the Petroleum Industry Act (PIA).
These include new standards for measurement, emissions control, and host community development.
Also read: Nigeria Non-Oil Export Data Rises to N3.17tn, as Data Gaps Fuel Debate
With a strong foundation in place, Komolafe expressed optimism that the presidential mandate to raise production is achievable, signaling a powerful turnaround for the oil-dependent economy.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
-
Politics2 years ago
13 Ondo Assembly Members Disown Endorsement of Aiyedatiwa
-
Politics2 years ago
APC Group, Ondo Govt, Quarrel Over Money for Endorsement
-
Trending News5 years agoStop unsavoury, inciting statements – DSS warns
-
Others4 years agoAdron Homes Celebrates 10 Years Of Housing Excellence
-
Humanity4 years agoPresident Buhari Commiserates With Ambassador Maureen Tamuno Over The Loss Of Her Father
-
Others7 years agoEX- CUSTOMS BOSS, IBRAHIM MERA’S DWINDLING FAME
-
Business2 years agoBigi Carbonated Soft Drinks Treats 40 Consumers to an Epic Easter Movie Hangout
-
Business2 years agoWema Bank Shines at Global SME Finance Forum Conference Awards 2024 …Awarded: • SME Financier of the Year (Africa) • Platinum Award for Best Financier for Women Entrepreneurs (Africa)