nnpc

The Digest: The Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of petrol to N835 per litre in Lagos and N839 per litre in Abuja. The adjustment represents a N50 increase in Lagos and a N20 increase in the capital. This follows a recent price hike by the Dangote...

The Digest: The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed the successful completion of the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta. According to a company statement, the well, operated by Chevron Nigeria Limited under the...

The Digest: Shell Plc has committed to investing $20 billion in Nigeria's energy sector over the coming years, according to Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited. The commitment was made during a courtesy visit by a Shell...

The Digest: Nigeria’s push toward energy independence saw a significant boost in December, as Dangote Refinery supplied over 32 million litres of petrol to the domestic market, a signal of growing local refining strength even as the country continues to rely on imports to meet demand. Key...

The Digest: President Bola Tinubu has approved the cancellation of $1.42 billion and N5.57 trillion in legacy debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, following a reconciliation process. The move, disclosed in a Nigerian Upstream Petroleum...

The Digest: The Nigerian Midstream and Downstream Petroleum Regulatory Authority reports that Dangote Refinery’s domestic petrol supply fell short of its target in November 2025, averaging 23.52 million litres daily against a projection of 35 million litres. Despite this, Nigeria’s total...

The Digest: The Independent Corrupt Practices Commission has identified 13 Nigerian ministries, departments, and agencies as "high corruption risk" in its 2025 integrity assessment. Leading the list of non-compliant entities are the Nigerian National Petroleum Company Limited, the University...

The Digest: The Nigerian National Petroleum Company Limited has announced that its upstream subsidiary, NNPC Exploration & Production Limited, achieved a record daily production of 335,000 barrels of oil on December 1, the highest output since 1989. The milestone reflects a 52% increase from...

The Digest: Former Vice-President Atiku Abubakar has demanded that the Tinubu administration explain the NNPC’s expenditure of N17.5 trillion on pipeline security in 2024. This call explores a significant financial controversy, engaging a crucial debate on public resource management and...

The Digest: Nigeria's crude oil output declined to 1.58 million barrels per day in October 2025, reflecting a 1.86% decrease from September's production levels. According to NNPC's monthly report, the drop occurred despite significant financial gains, with the state oil company recording N447...

The Digest: The Nigerian National Petroleum Company (NNPC) Limited has announced a historic profit after tax of N5.4 trillion for the 2024 financial year, representing a 64% increase from the previous year. Key Points: NNPC’s profit grew by N2.1 trillion, from N3.3 trillion in 2023 to N5.4...

The Digest: The Nigerian National Petroleum Company Limited faces severe financial misconduct allegations after the Auditor-General's report revealed over $51 million in questionable payments and systemic regulatory violations. According to Premium Times' analysis of the 808-page audit...

The Digest: Amid concerns over Nigeria's low oil output, the Presidency is signalling a major shake-up of the NNPC's asset ownership model. According to official statements, the government questions the state oil firm's capacity to fund and execute the drilling campaigns needed to boost...

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...