The Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) today signed a Commitment Letter and Termsheet for an emergency $3 billion crude oil repayment loan to ensure improved FX earnings by Nigeria from crude oil exports. The signing ceremony, which took place at Afreximbank’s headquarters in Cairo, Egypt, based on the […]
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has disclosed that Nigeria will end importation of Premium Motor Spirit (petrol) by the middle of 2023. The NNPC boss hinged the projection on the gradually improving crude oil refining capacity of the nation’s refineries as well as […]
The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has hinted that over 200 illegal refineries are operating in the country, even as efforts to reactivate government-owned refineries are yet to yield the desired results. Kyari gave this hint when he appeared before the House of Representatives Joint […]
The Nigerian National Petroleum Company (NNPC) Limited has reported that total payments on fuel subsidy in the 10-month period from January through October this year totalled N1.03 trillion. This is even as it stated that it would deduct N199 billion being October 2021 under-recovery from its November 2021 remittance to the Federation Account. The oil […]