Court Orders NNPC to Disclose Details of $3B Afreximbank Crude-for-Cash Loan to HEDA The Federal High Court in Abuja has directed the Nigerian National Petroleum Company Limited (NNPC Ltd.) to provide HEDA Resource Centre with full details of the $3 billion “crude-for-cash” loan obtained from the African Export-Import Bank (Afreximbank). Justice Emeka Nwite ruled that the requested information is “simple and harmless” and cannot be withheld under the Freedom of Information Act. The court order requires NNPC to disclose the loan’s anticipated benefits for both the company and the Nigerian economy, the economic implications, oil grades involved, the exchange rate applied, and the quality of the oil used as collateral. HEDA chairman Olanrewaju Suraju hailed the ruling as a major victory for transparency and accountability, calling on stakeholders to support public access to information and the fight against corruption in the oil sector. #NNPC #HEDA #Afreximbank #Transparency #OilAndGas #NigeriaEconomy #FreedomOfInformation #AntiCorruption #NigeriaNews

Brief: Okpebholo Suspends Oil & Gas Adviser Over Alleged Unauthorised Fundraising. Edo State Governor, Monday Okpebholo, has suspended his Special Adviser on Oil and Gas, Felix Isere, over alleged unauthorised fundraising tied to the upcoming Edo Oil and Gas Summit. In a statement issued by the Secretary to the State Government, Umar Ikhilor, the governor also ordered the immediate suspension of the summit, which was scheduled to begin on August 7. Isere has been directed to refund all monies collected from donors, while prospective donors have been warned to cease all dealings with him. #EdoState #Okpebholo #FelixIsere #OilAndGasSummit #FundraisingScandal #Governance

Brief: Dangote Refinery Drops ₦100bn Lawsuit Against NNPCL, Others Dangote Petroleum Refinery has withdrawn its ₦100 billion lawsuit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPC Limited, and five other oil firms. The case, filed at the Federal High Court in Abuja, challenged the issuance of fuel import licenses, which Dangote claimed violated the Petroleum Industry Act and undermined local refining. The refinery had sought damages and a declaration that NMDPRA failed to protect domestic producers. However, a formal notice of discontinuance was submitted, with no stated reason or indication of an out-of-court settlement. The defendants, including Matrix, AYM Shafa, and A.A. Rano, had argued the case was an attempt by Dangote to monopolise the market. NMDPRA maintained it acted lawfully to meet national fuel demand.#DangoteRefinery #NNPCL #NMDPRA #OilAndGas #PetroleumIndustryAct #FuelImportation