Business
NMDPRA Licences Six Petrol Importers to Boost Stability
NMDPRA petrol importers list unveiled as six firms get licences to stabilise Nigeria’s fuel supply and reduce market volatility
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has licensed six firms to import petrol into Nigeria, a move aimed at strengthening supply stability and improving distribution flexibility in the downstream sector.
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The regulator named Pinnacle, AYM Shafa, Matrix, Rano, and NIPCO among the approved marketers authorised to bring in fuel.
The decision follows earlier indications that selected firms would each import about 30,000 metric tonnes of petrol.
The development comes amid shifting supply dynamics, with the Dangote Refinery currently supplying about 92 per cent of Nigeria’s fuel consumption, significantly reducing reliance on imports.
Industry stakeholders say the introduction of additional importers will create alternative supply channels and enhance resilience, especially during periods of global price volatility. The measure is also expected to support a more balanced market structure.
Experts note that a combination of local refining and controlled imports could help moderate petrol prices and ensure steady availability nationwide.
The policy direction aligns with efforts to maintain continuity in supply while domestic refining capacity expands.
Recent data indicates that petrol landing costs have fallen below the refinery’s price by about N94 per litre, intensifying competition within the market.
Analysts believe the licensing decision could cushion price pressures and deliver a stabilising effect.
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The move also follows emerging tensions over import licences, with the Dangote Refinery reportedly considering exporting refined products, a development that could tighten local supply if implemented.
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
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