President Bola Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the Chairman, Chief Pius Akinyelure and the Group Chief Executive Officer, Mallam Mele Kyari. In a statement issued early Wednesday, Bayo Onanuga, the Special Adviser to the President (Information & Strategy), announced that President Tinubu had removed all…
Filling stations in Lagos, Nigeria’s commercial capital city, have increased the price of a litre of petrol from ₦860 to ₦930, making consumers pay at least ₦70 more than what it used to cost them to buy a litre of the premium commodity days ago. The price increase has now taken effect in regions like…
The Nigerian National Petroleum Company Limited (NNPCL) has addressed recent social media reports regarding the alleged unilateral termination of its crude oil sales agreement with Dangote Refinery in Naira. In a statement issued on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the contract for selling crude oil in Naira was a six-month…
Officials at Dangote Refinery have denied claims that the controversial fuel allegedly purchased from an NNPC filling station originated from their facility. This statement comes after the Nigerian National Petroleum Corporation Limited (NNPCL) rejected allegations on Saturday regarding the sale of substandard petrol with a high burn rate. NNPCL’s spokesperson, Olufemi Soneye, issued a statement…
The Nigerian National Petroleum Company Limited (NNPC) has refuted rumors of an explosion at the Warri refinery. It said the Warri refinery is currently loading eight trucks of diesel and kerosene per day. According to a statement by the NNPC Chief Corporate Communications Officer, Olufemi Soneye, on Friday, this was due to the intentional curtailing…
The Socio-Economic Rights and Accountability Project (SERAP) has called on Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), to explain the whereabouts of the alleged missing N825 billion and $2.5 billion allocated for refinery rehabilitation, as reported in the 2021 annual report by the Auditor-General of the Federation….
President Bola Tinubu has expressed his great satisfaction with the reopening of the Warri Refining and Petrochemical Company by the Nigerian National Petroleum Company Limited (NNPCL). A statement issued by Bayo Onanuga, the Special Adviser to the President (Information & Strategy), on Monday, hailed the reopening as another significant achievement in 2024, which has bolstered…
The Senate has passed the 2024 – 2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for implementation by the Federal Government. The passage followed the presentation of a report by the chairman of the Joint Committees on Finance and National Planning & Economic Affairs presented by Sen. Musa, Mohammed Sani (Niger East). The…
President Tinubu has been urged not to allow a monopoly in the oil sector, which could lead to higher fuel prices and a single point of failure for the nation’s fuel supply. The Nigerians in Diaspora Movement (NDM) has alleged that the Nigerian National Petroleum Corporation Limited (NNPCL) is fostering a monopolistic environment favouring Dangote…
Barely three weeks after jerking up the price per litre of petrol, retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) adjusted the pump price of the commodity on Tuesday in Lagos from ₦998 to ₦1, 025. A few NNPCL outlets that sold the premium commodity sold it at ₦1,025 while others owned…
