The Chairman of United Nigeria Airlines and spokesman of Airline Operators of Nigeria, Prof. Obiora Okonkwo on Wednesday solicited the support of the new Minister of Aviation, Barr. Festus Keyamo, in the area of sourcing foreign exchange (FX) needs of the operators to sustain their businesses and the sector’ contribution to the nation’s Gross Domestic […]
Tag: Nigerian National Petroleum Corporation (NNPC)
ABCON Urges FG To Ban Binance’s Operations In Nigeria
The Association of Bureaux De Change Operators of Nigeria (ABCON) has advised the Federal Government to ban Binance from operations in the country, alleging that the company is partly responsible for the depreciating value of the Naira in the FX market. Binance is a global online FX platform that avails users the opportunity to trade […]
Analysts List Risks, Potential Benefits Of Fuel Subsidy Removal To Economy
As Federal Government’s position on the proposed fuel subsidy removal continues to elicit reactions from Nigerians and other stakeholders globally, analysts have cautioned the government on the need to critically consider the cost-benefit implications for the citizenry and sustainable growth of the economy before implementing the contentious fiscal measure. Reacting to the fiscal policy announcement […]
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 […]
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 […]
FG Will Comply With Court Judgment On VAT – Adesina
The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, has assured that President Muhammadu Buhari-led government will abide by the final court judgment on the ongoing Value Added Tax (VAT) legal tussle between the states and Federal Inland Revenue Service . Adesina, who gave the assurance when he appeared on a […]
NNPC Won’t Be Ready For IPO Until 2024 – Kyari
Initial hopes of the investing public that the proposed successor company of the Nigerian National Petroleum Corporation (NNPC) would go public in line with amended 2021 Petroleum Industry Act appear to have been dashed on Monday as the corporation’s Group Managing Director, Mallam Mele Kyari, said that company may not be ready for an Initial […]
Senate Accuses CBN, NNPC Of Profligacy, Agencies Debunk Allegation
The Senate on Wednesday accused Government Owned Enterprises of worsening the current dwindling revenue situation of the country and accused them of engaging in spending spree instead of remitting the appropriate funds into the federation account. The Chairman of the Senate Committee on Finance, Senator Solomon Olamilekan Adeola, made the allegation on Wednesday at a […]
NNPC Reports N756.99Bn As Fuel Subsidy Cost In 7 Months
The Nigerian National Petroleum Corporation (NNPC) reported that it incurred N756.99 billion on fuel subsidy from January to July this year. These figures were contained in the state-owned petroleum company’s operations report for the seven- month period. According to the corporation’s data on fuel importation and subsidy provisions in the financial records, the subsidy provisions […]
NNPC Posts N287Bn Profit After Tax In 2020 – Buhari
President Muhammadu Buhari, who is also overseeing the operations of the Ministry of Petroleum Resources, has announced N287 billion profit after tax (PAT) for the Nigerian National Petroleum Corporation (NNPC) for the 2020 financial year. Buhari , who made the disclosure on Thursday in a statement by his Special Adviser on Media and Publicity, Mr. […]