The Federal Government will begin reclaiming undeveloped oil and gas blocks from October 31, 2026, as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) moves to enforce the “drill or drop”

Nigeria’s oil sector utilised $2.15bn in foreign exchange between January and June 2026, representing an 18.7 per cent decline from the $2.64bn recorded in the corresponding period of 2025, despite