Tag: NNPCL

Despite Dangote’s Free Delivery, Petrol Price Holds Steady at N865/litre

Editor

Despite obtaining petrol at N820 per litre with no logistics charges, Dangote Refinery partners have refused to cut pump pricing at their filling stations. According to Sunday’s findings, Heyden, AP, MRS, and other key partners continue to offer petrol for N865 per litre. Except for a few MRS stores in Lagos, who raised their pricing to N841 a litre, other stations maintained their old rates. Long lines formed at the MRS station in Alapere as vehicles hurried to buy petrol for N841, while others on the same axis sold for…

NNPCL Rakes In N318bn to Kickstart New Oil Exploration

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According to a report, the Nigerian National Petroleum Company Limited (NNPCL ) was awarded N318.05 billion for frontier oil exploration between January and August 2025. Documents from the September 2025 Federation Account Allocation Committee meeting was able to collect support this claim. 30% of the income from Production Sharing Contracts, which are automatically set aside each month for inland basin exploration, are represented by the deductions. The Frontier Exploration Fund was established by the Petroleum Industry Act of 2021, and it requires that 30% of the earnings from NNPC’s Production…

“Ghost Refineries”: P’Harcourt, Warri, Kaduna Plants Decay as Workers Stand Idle

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Despite the more than $3 billion contract amount to revive them, the refineries in Port Harcourt, Kaduna, and Warri are decaying away, according to a report. Our correspondents in Rivers, Kaduna, and Delta states visited the refineries and confirmed that the massive sum—which is currently being investigated by the Economic and Financial Crimes Commission—did not provide the expected outcome. It was discovered that because they had nothing to do, refinery workers can start and stop working at any time. The nation’s long-standing battle with state-owned refineries, which have cost billions…

Ex-NNPCL spokesman canvasses tax relief for media houses

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Nigeria currently has 172 million active telephone subscribers, of which 141 million are internet users, accounting for 81.9% of the total, and 105 million are broadband users. She urged subscribers to turn off social media autoplay, limit background data, delete unused apps, activate data-saving modes, and use Wi-Fi whenever possible. Nnenna Ukoha, the Director of Public Affairs at the NCC, emphasized the importance of the media in communicating regulatory efforts to the public, saying, “You are the ones that transmit and convey our transformative policies to the people of Nigeria.…

EFCC Recovers Billions in Refinery Fraud, Ex-NNPCL Officials Prosecuted

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Over N5 billion and $10 million have been retrieved by the Economic and Financial Crimes Commission from government officials and contractors implicated in the fraud involving the turnaround maintenance of the country’s refineries in Port Harcourt, Kaduna, and Warri. According to reliable information obtained , the anti-graft agency was attempting to recoup an additional N10 billion and $13 million that were purportedly embezzled through maintenance contractors. According to information obtained by our correspondent, Ola Olukoyede, the chairman of the EFCC, personally oversaw the probe because he was unhappy with the…

‘Cabals’ still fighting against our refinery — Dangote

Editor

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 man spoke at an investor forum in Lagos on Friday. The report stated that Dangote pointed out that some individuals who “for a very, very long time” have “made a lot of money from” government-subsidised…

NNPCL board Officials: Why Tinubu sacked Kyari

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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 oil company since 2019, as part of a broader overhaul, which the Presidency said was aimed at boosting Nigeria’s crude and gas output. “President Tinubu removed all other board members appointed with Pius Akinyelure and…

NAPE praises Tinubu’s NNPC board reshuffle

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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 said, the appointment of Bayo Ojulari as the new Group CEO, alongside Ahmadu Musa Kida as Non-Executive Chairman, is a testament to the President’s commitment to excellence and his desire to drive growth in the…

From Marinho to Ojulari: History of NNPCL’s leadership from inception

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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 a statement issued by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, in the early hours of Wednesday. “President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023,” the…

Naira-for-crude: FG, Dangote set for talks as refinery imports 12.6m barrels

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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 March 31, 2025. It has not been renewed, and the Dangote refinery has since stopped selling refined petroleum products in naira due to the non-renewal of the naira-for-crude deal. This came as a report by…