The President of Dangote Group, Alhaji Aliko Dangote, says he is still fighting for the survival of his $20bn refinery, stressing that the fight is not yet finished. Dangote expressed optimism that he would win the fight for the refinery, stating his determination to fight on. According to Semafor, an international news medium, Africa’s richest…
President Bola Tinubu’s decision to sack Mele Kyari and other board members of the Nigerian National Petroleum Company Limited stems from mounting concern over performance and a failure to meet key production targets, Presidency officials have disclosed. In an abrupt move on Wednesday, Tinubu removed Kyari, who had been at the helm of the national…
The Nigerian Association of Petroleum Explorationists has lauded President Tinubu for the new Nigerian National Petroleum Company board appointment, noting that the appointment is a bold step towards repositioning the oil and gas industry for greater efficiency, transparency, and profitability. In a statement signed by NAPE president, Johnbosco Uche made available on Wednesday, the association…
President Bola Tinubu on Wednesday removed Mele Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited and appointed Bashir Bayo Ojulari as his replacement, effective April 2, 2025. The President also dissolved the company’s board, including its chairman, Pius Akinyelure, and reconstituted an 11-member board. The announcement was made in…
There are indications that the naira-for-crude policy of the Federal Government may continue, as impeccable insider sources familiar with the development insisted on Monday that all parties involved in the deal would reconvene soon. The first phase of the six-month deal involving the Federal Government, Nigerian National Petroleum Company Limited, and Dangote Petroleum Refinery ended…
NNPCL and Dangote Refinery have commenced negotiations to renew their naira-for-crude oil agreement, which is scheduled to expire on March 31, 2025. This move follows the refutation by NNPCL of reports alleging the deal’s suspension until 2030. NNPCL clarified that the initial agreement, a six-month pilot program initiated in October 2024, saw Dangote Refinery receiving…
The Nigerian National Petroleum Company Limited (NNPCL) is considering a new reduction in the price of Premium Motor Spirit (PMS), popularly known as fuel or petrol, following the MRS filling station’s announcement of a price cut in collaboration with Dangote Refinery on Monday. This development comes after the MRS filling station announced a price reduction…
Barely a month after announcing the commencement of the 125,000 barrels Warri refinery, the Nigerian National Petroleum Company Limited has said the facility is undergoing a planned routine maintenance programme aimed at ensuring optimal operations. It also denied reports of an explosion at the Warri Refining and Petrochemical Company. The company, in a statement signed…
The Movement for Anti-Corruption, Integrity, and Transparency Initiative has expressed its disapproval of the recent remarks made by former President Olusegun Obasanjo regarding state-owned refineries. Obasanjo had stated that the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million proposal from billionaire entrepreneur Aliko Dangote to oversee the Port Harcourt and Kaduna refineries in…
The Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo to visit the Port Harcourt Refinery. As stated in a release on Thursday, the NNPCL mentioned that this initiative is intended for Obasanjo to assess the operational condition of the oil processing plant located in Rivers State. In a…
