nnpc

The Digest: The Federal Government has announced it is open to selling the state-owned Warri, Port Harcourt, and Kaduna refineries, a potential watershed moment aimed at boosting competition and ending decades of reliance on subsidized, underperforming national assets. Key Points: The...

The Digest: The Nigerian National Petroleum Company (NNPC) Limited is working to increase its stake in the Dangote Petroleum Refinery to 20 percent, a strategic move announced by Group CEO Bayo Ojulari as the state-owned refineries remain non-operational. Key Points: NNPC CEO Bayo Ojulari...

The Digest: The Economic and Financial Crimes Commission (EFCC) has arraigned three foreigners and a vessel, MT Ostria, before the Special Offences Court in Lagos for the alleged theft of 25 million litres of Premium Motor Spirit (PMS) valued at approximately N12 billion. According to Linda...

The Digest: Paulinus Okoronkwo, a senior official at the Nigerian National Petroleum Company (NNPC), has been ordered to forfeit a $2.5 million luxury mansion in Los Angeles to the United States government following his conviction on money laundering charges. The ruling by Judge John Walter of...

The Digest: As the cost-of-living storm intensifies for many Nigerians, the price of Premium Motor Spirit (petrol) has surged alarmingly close to N1,000 per litre. This new spike, attributed to supply constraints and operational glitches at the Dangote Refinery, has sparked a fresh wave of...

The Digest: The Nigerian National Petroleum Company has triggered another wave of economic uncertainty by increasing petrol prices to nearly N1,000 per litre, reversing recent reductions and deepening the financial burden on households and businesses across major cities. Key Points: NNPC...

The Digest: The World Bank has advised the Nigerian government to consolidate its economic reforms by enforcing strict fiscal discipline, increasing taxes, and ensuring full transparency in public finance. Key Points: The Bank recommended a forensic audit of the Nigerian National Petroleum...

The Digest: In Nigerian households, a quiet crisis unfolds as the cost of a basic necessity surges. The NNPC Limited has attributed the sharp rise in cooking gas prices to the recent PENGASSAN strike, which disrupted supply chains and caused costs to soar beyond the reach of many. Rooted in...

The Digest: The Nigerian National Petroleum Company Limited (NNPC) and the Dangote Petroleum Refinery have signed a new two-year crude supply agreement to ensure steady feedstock for the 650,000-barrel-per-day facility in Lagos. Key Points: The NNPC and Dangote Refinery have signed a new...

The Digest: In a decisive legal intervention, a national industrial court has moved to prevent a crippling strike from destabilizing Nigeria's energy sector. According to a report from Daily Post Nigeria, Justice Emmanuel Danjuma Subilim has issued a temporary order restraining PENGASSAN from...

A nationwide industrial action has brought Nigeria's critical oil and gas sector to a standstill, escalating a labour dispute into a full-blown operational crisis. According to reports, PENGASSAN's strike has shuttered major regulatory bodies and halted fuel supply to the Dangote Refinery...

The Digest: Maryamu Idris, Managing Director of NNPC Trading Limited, has been appointed as Nigeria’s representative to the Organisation of Petroleum Exporting Countries (OPEC). The national oil company announced its dual role will strengthen Nigeria’s influence in global energy policy and...

The Digest: Former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has publicly addressed his recent questioning by the EFCC over allegations of financial misconduct during his tenure. Key Points: Kyari was grilled over accusations of...

The Digest: NNPC Retail Limited, a subsidiary of the Nigerian National Petroleum Company (NNPC), reported a staggering N395.5 billion loss for the 2024 fiscal year, reversing a N20.18 billion profit from 2023. The loss, attributed to non-recurring impairments and intercompany reconciliation...

The Digest: Mele Kyari, former Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), voluntarily appeared before the Economic and Financial Crimes Commission (EFCC) on Wednesday to answer questions related to financial and technical operations during his tenure. The...

The Digest: Paulinus Okoronkwo, a former NNPC general manager, has been found guilty in a U.S. court of accepting a $2.1 million bribe from Chinese-owned Addax Petroleum to influence oil drilling contracts in Nigeria. The case exposes transnational corruption networks and the misuse of public...

The Digest: A new voice for Nigeria's oil firm. The Nigerian National Petroleum Company (NNPC) Limited has announced two key appointments, naming Andy Odeh as its new Chief Corporate Communications Officer and Morenike Adewunmi as its Chief Relations Officer. The appointments come two months...

The Digest: The Nigerian National Petroleum Company (NNPC) has inaugurated a 113km segment of the long-awaited Obiafu-Obrikom-Oben (OB3) gas pipeline. After missing several deadlines, the project’s commissioning is a small but significant step in a series of energy developments Key Points...

Digest: The Federal High Court in Abuja has ordered the freezing of four Jaiz Bank accounts linked to Mele Kyari, the former NNPCL boss, after the EFCC raised concerns about suspicious activities. The EFCC discovered N661.4 million suspected to be illicit funds in the accounts. Key Points...

The Digest: The Nigerian National Petroleum Company (NNPC) has reduced petrol prices by N10 in Lagos and Abuja. Prices are now N865 per litre in Lagos and N890 per litre in Abuja, down from N875 and N900 respectively. This follows previous price fluctuations and aligns with NNPC's aim to...