The Nigeria Energy Quarterly Report – Q2 2026 delivers a comprehensive review of the transformative developments that reshaped Nigeria’s oil and gas, power, and mining sectors between April and June 2026.
The oil and gas sector delivered notable wins during the quarter. Upstream production surged past OPEC quotas, reaching approximately 1.53 million barrels per day in May — the highest since January 2025. Financing momentum accelerated with Africa Finance Corporation’s backing for three additional refineries, while NNPC Limited’s MOU with Chinese partners signalled renewed ambition for the Warri and Port Harcourt refineries. The 2026 licensing round was confirmed to commence in Q3, and Dangote Refinery’s legal challenge against import licenses issued to NNPC Limited and other marketers continued to reshape downstream competition dynamics.
The power sector’s decentralisation revolution continued to gain momentum during Q2. Two game-changing regulations emerged: the Mini-Grid Regulations 2026, which now permit isolated mini-grids up to 5MW and interconnected systems up to 10MW per site, and the Net Billing Regulations 2026, which allow consumers to generate renewable power and sell excess electricity back to distribution networks. Lagos State led the charge, executing PPAs with three IPPs and establishing frameworks for a 6,000MW target. The mining sector also witnessed renewed government focus with the transfer of mineral royalty collection to the Nigeria Revenue Service.
This report distils the quarter’s most significant policy shifts, regulatory actions, and market
developments — delivering critical intelligence for investors seeking entry points, operators
navigating compliance requirements, and policymakers shaping Nigeria’s energy future.
