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Oando Debunks NNPC Allegation On Adulterated PMS Importation

The management of Oando Plc, a major marketing oil company, has faulted claims by the Nigerian National Petroleum Company (NNPC) Limited that the company was among four suppliers that imported adulterated fuel into Nigeria. The NNPC’s Group Managing Director, Mele Kyari, had on Wednesday night said the state-owned oil company on January 20, 2022, received […]

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We Committed N100Bn To Refineries’ Upgrade In 2021 – NNPC

The Nigerian National Petroleum Company Limited (NNPC) has disclosed that it spent N100 billion on refineries’ rehabilitation in 2021. The state-owned oil entity made this disclosure in its report on the funding performance for 2021 financial year. Although the report did not list the refineries that gulped the amount, industry analysts believe that all the […]

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NNPC Presents N3Trn Fuel Subsidy Cost For 2022 To FEC

The Nigerian National Petroleum Company Limited (NNPC) on Wednesday presented a projected N3 trillion subsidy cost for 2022 financial year to the Federal Executive Council (FEC) for approval following the Federal Government’s decision to sustain fuel subsidy payment for the next 18 months.   At the FEC meeting presided over by President Muhammadu Buhari, the […]

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Fuel Subsidy Hits N1.03Trn In 10 Months

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 […]

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Again, NNPC Allays Consumers’ Fear Over Fuel Scarcity

The Nigeria National Petroleum Corporation (NNPC) Limited  has advised fuel consumers nationwide not to engage in panic buying of Premium Motor Spirit (PMS), saying it has over 1.7 billion litres of the product in stock. The corporation’s Group General Manager, Group Public Affairs Division, Malam Garba Deen Muhammad, in a statement  confirmed that apart from […]

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During TAJBank’s Management Courtesy Visit To The NNPC Group Managing Director At The Corporation’s Headquarters In Abuja

L-R: Founder/Chief Operating Officer, TAJBank Limited, Mr. Hamid Joda; Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr. Mele Kyari; and TAJBank Co-Founder/Chief Marketing Officer, Mr. Sherif Idi; when the bank’s  management team paid a courtesy visit to the NNPC boss at the corporation’s headquarters in Abuja

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NNPC Limited Registered With Highest Share Capital In Nigeria – CAC

The Corporate Affairs Commission (CAC) on Friday declared that the Nigerian National Petroleum Company (NNPC) Limited had the highest share capital among registered entities in the country. The Registrar General of the commission, Barrister Garba Abubakar, made this disclosure while presenting the Certificate of Incorporation of the company to President Muhammadu Buhari at the State […]

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Nigeria, Others Seek Oil Production Quota Review Amid Supply Shortfalls

As prospects for more crude oil demand continue to brighten as global activity picks up steam amid shortfalls in Organisation of Petroleum Exporting Countries (OPEC) member-countries subsist,  Nigeria on Tuesday indicated intention to formally seek upward review of its production quota by the oil cartel. Currently indications showed that underinvestment and maintenance work had hampered […]

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Buhari Orders Incorporation Of NNPC Ltd, Appoints Board Members

President Muhammadu Buhari has directed the incorporation of the Nigerian National Petroleum Corporation into a limited liability company – NNPC Limited.   The President’s directive was contained in a statement issued on Sunday signed by his Special Adviser on Media and Publicity, Femi Adesina.   According to Adesina, the move by Buhari is in “consonance […]

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NNPC Publishes 2020 Financial Statements, Assets Grew 18.7%

The Nigerian National Petroleum Corporation (NNPC) has published its audited financial statements which showed that the group’s assets’ value rose by 18.7percent amid devastating impacts of the COVID-19 pandemic on broad sectors of Nigeria’s economy. The publication of the corporation’s financial statement for the 2020 year on its website was in compliance with Federal Government’s […]