Just another News Updates
Renowned Nigerian lawyer and human rights advocate, Femi Falana (SAN), has condemned the decision of the Nigerian National Petroleum Company Limited (NNPCL) to set prices for both imported and locally refined fuel, labeling the actions as illegal, null, and void. In a statement released on Thursday, Falana argued that NNPCL’s decision violates Section 205 of […]
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Shettima, has called on the Nigerian National Petroleum Company Limited (NNPC) to sell Premium Motor Spirit (PMS), commonly known as petrol, to marketers at the same rates offered by Dangote Petroleum Refinery. Alternatively, he urged the NNPC to refund the funds held […]
The House of Representatives has called on the federal government to instruct the Nigerian National Petroleum Corporation Ltd. (NNPCL) to grant independent marketers access to lift fuel from the Dangote Refinery, warning that continued monopoly could worsen fuel scarcity and exacerbate economic challenges. This resolution was reached following the adoption of a motion of urgent […]
The Nigerian National Petroleum Corporation Limited (NNPC Ltd) has announced an increase in the pump price of petrol. Effective immediately, the cost per litre has surged from ₦615 to ₦855 nationwide. This price hike is expected to have wide-ranging impacts on the economy, affecting everything from transportation costs to the prices of goods and services […]
Global suppliers of petrol are increasingly hesitant to continue providing fuel on credit to the Nigerian National Petroleum Company Limited (NNPCL) due to a mounting debt of over $6 billion, Sunday Vanguard has learned. Industry insiders disclosed that the NNPCL, which is the sole importer of petrol into Nigeria through supply agents, is facing significant […]
In a strategic move aimed at enhancing the efficiency and productivity of Nigeria’s oil refining sector, the Nigerian National Petroleum Company Limited (NNPC) has announced plans to hand over the operations and maintenance of two of its key refineries to private operators. The Warri Refining and Petrochemical Company (WRPC) and the Kaduna Refining and Petrochemical […]
The Federal Government has announced that the Nigerian National Petroleum Company Limited (NNPC) does not have the financial resources needed to rebuild the country’s aging pipelines. Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), made this statement at the recently concluded Energy and Labour Summit 2024, organized by the Petroleum and Natural Gas […]
Former Vice President Atiku Abubakar has accused the Nigerian National Petroleum Company Limited (NNPCL) of being hijacked by corporate cabals close to President Bola Tinubu. In a statement released Thursday by his Media Adviser, Paul Ibe, the 2023 Presidential candidate of the Peoples Democratic Party (PDP) highlighted his concerns over the management of the NNPCL, […]
The Nigerian National Petroleum Company Limited (NNPCL) has officially transferred all its retained assets to OVH Energy Marketing Limited, the operator of Oando Petroleum. OVH is owned by Wale Tinubu, a nephew of President Bola Tinubu. This transfer followed a court approval that now allows NNPCL to hand over its retail ownership and assets to […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a significant profit of ₦3.3 trillion for the 2023 financial year, marking the highest profit in the company’s history. Speaking to the press on Monday, NNPC Ltd.’s Chief Financial Officer, Alhaji Umar Ajiya, highlighted the milestone achievement, noting that this represents a substantial increase from […]