The Nigerian National Petroleum Company Limited (NNPCL) has attributed the recent scarcity and surge in cooking gas prices to the strike action by PENGASSAN, which disrupted loading and operations for several days. Group Chief Executive Officer, Bayo Ojulari, described the price increase as “artificial,” noting that supply delays created a temporary shortage exploited by retailers…
Members of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) on Monday barricaded the Nigerian National Petroleum Company Limited (NNPCL) headquarters in Abuja, alongside the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) offices, kicking off a nationwide strike. The protest follows the alleged illegal dismissal of…
Between January and August 2025, the Nigerian National Petroleum Company Limited (NNPC Ltd) received N318.05 billion for frontier oil exploration, according to documents from the September 2025 Federation Account Allocation Committee (FAAC) meeting, reviewed by The PUNCH. This amount represents 30 per cent of the profits from Production Sharing Contracts (PSCs), which are automatically allocated…
The Economic and Financial Crimes Commission (EFCC) has recovered over N5 billion and 10 million from contractors and former government officials linked to fraudulent activities in the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri. The commission is also pursuing the recovery of an additional N10 billion and 13 million, allegedly siphoned…
Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has firmly denied claims that he coerced Bayo Ojulari, Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), into resigning. In a statement released Wednesday by EFCC spokesperson Dele Oyewale, Olukoyede condemned a report published by People’s Gazette, which alleged that he…
The Economic and Financial Crimes Commission has refuted claims that it abducted or coerced the Group CEO of the Nigerian National Petroleum Company Limited, Bayo Ojulari, into resigning amid widespread rumours of his resignation. A senior EFCC official, who spoke anonymously, confirmed that a petition was submitted against Ojulari but denied any forced resignation or…
President of the Dangote Group, Alhaji Aliko Dangote, has expressed skepticism about the possibility of the government-owned Port Harcourt, Warri, and Kaduna refineries ever returning to operation, despite reportedly consuming around $18 billion under the management of the Nigerian National Petroleum Company Limited (NNPCL). Speaking during a visit by Global CEO Africa delegates from Lagos…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has once again failed to appear before the Senate Committee on Public Accounts, despite being given a 10-day deadline to address issues surrounding unaccounted funds amounting to ₦200 trillion. Instead of attending the session in person on Thursday, Ojulari sent…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has revealed that the Port Harcourt Refining Company (PHRC) will undergo a scheduled maintenance shutdown starting today. In a statement issued by Olufemi O. Soneye, Chief Corporate Communications Officer of NNPC Ltd, the company confirmed that the maintenance and a sustainability assessment will be carried out as…
President Bola Tinubu has inaugurated the new board of the Nigerian National Petroleum Company Limited (NNPCL) and charged them to use their wealth of experience to turn the country’s economy around. President Bola Tinubu inaugurated the newly appointed board of the Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday in Abuja, tasking them with…
