To reliably supply markets, against the backdrop of rising demand, as well as to offset natural decline in mature fields, global cumulative investments of $18.2 trillion are required over the 2025–2050 period (in 2025 US$). The bulk of the required investment, $14.9 trillion, or $574 billion p.a., is for the upstream sector. The downstream and midstream sectors require another $2 trillion and $1.3 trillion, respectively. The challenge of meeting these investment requirements is huge, and any shortfall in meeting these needs could impact market stability and energy security.
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A new report from the forensic lab Smart DNA reveals that 1 in 4 Nigerian men who underwent a paternity test between July 2024 and June 2025 were not the biological fathers of the children Omoh 😭💔🧎🏻♂️➡️🙆🏼♂️
PRESS RELEASE
President Tinubu Commissions WAGL’s 40,000 CBM LPG Vessel in South Korea
…Lauds Company’s Partners for Expanding Africa’s Role in Clean Energy
President Bola Ahmed Tinubu says Nigeria is poised to deliver clean and sustainable energy solutions not just in-country but also across Africa and beyond.
The President made the remarks today at the commissioning ceremony of a 40,000 cubic meters (CBM) Liquefied Petroleum Gas (LPG) vessel, christened “MT Iyaloja (Lagos),” in Ulsan, South Korea.
The vessel owned by WAGL Energy Limited (an NNPC Ltd. /Sahara Group Joint Venture) is a dual-fuel, fully refrigerated LPG carrier. This latest addition brings WAGL's total LPG vessel capacity to 162,000 CBM. Other vessels in the fleet include MT Africa Gas, MT Sahara Gas, MT BaruMK, and MT Sapet.
Represented by the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, the President commended WAGL Energy Limited, NNPC Limited and Sahara Group, for their strategic foresight, technical excellence and unwavering dedication to expanding Africa’s role in the global clean energy value-chain.
In his remarks, Group Chief Executive Officer (GCEO) of NNPC Ltd., Engr. Bashir Bayo Ojulari, described WAGL’s LPG Vessel as a great addition to gas development efforts in Nigeria.
The GCEO, who was represented by the Executive Vice President, Gas, Power & New Energy, Mr. Olalekan Ogunleye, added that the vessel will be crucial in realising the impact of gas in Nigeria’s economic development.
According to him, NNPC Ltd. is deepening its commitment to ensure LPG affordability, availability and access, nationwide.
“NNPC Ltd. is proud to be a major shareholder in this indigenous Company which in addition to the newly commissioned MT Iyaloja (Lagos), owns four (4) other LPG vessels in its growing fleet, delivering over 6 million MT of LPG across West Africa over the last 5 years,” he added.
Also speaking, WAGL’s Chairman/Executive Director at Sahara Group, Mr. Temitope Shonubi, noted that the company's expansion demonstrates its vision of responsibly driving efforts aimed at bridging the continent's critical energy infrastructure gap.”
"The addition of MT Iyaloja (Lagos) embodies the spirit of progress and empowerment championed by the iconic Alhaja Abibatu Mogaji, whose legacy we honour. Sahara Group is proud of its partnership with NNPC Ltd. and reaffirms its commitment to partnerships that drive energy access in Africa," he added.
WAGL's Managing Director, Mr. Mohammed Sani Bello stressed that the company is dedicated to expanding its integrated supply network across the entire energy value chain.
"WAGL already has plans to further expand the fleet within the next two years with the addition of a Small Gas Carrier and a Very Large Gas Carrier (VLGC)," he added.
The symbolic ribbon cutting of MT Iyaloja (Lagos) named in honour of Alhaja Abibatu Mogaji, MFR, (the late mother of President Bola Ahmed Tinubu), was performed by her grand-daughter, the Iyaloja-General of Nigeria, Alhaja Folasade Mujidat Tinubu-Ojo.
Signed
NNPC Ltd.
Abuja
18th August, 2025
‼️TRULY HISTORIC🤯
Cristiano Ronaldo has just become the first and only footballer in history to reach 700 official club victories.
🟢Sporting: 13 wins
⚪️Real Madrid: 316 wins
🔴Manchester United: 214 wins
⚫️Juventus: 91 wins
🟡Al-Nassr: 66 wins
Simply CR7🐐🇵🇹
#Cr7#ronaldo
Generator safety tips for Tropical Storm #Debby. If you find yourself out of power and are thinking of using a generator, do the following:
⚠️ Always use generators outdoors
⚠️ Keep generators at least 20 ft from windows, doors, and attached garages
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