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Tag: NNPC

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Why NNPC increased fuel price – Minister

The Federal Government of Nigeria has stated that it bears no responsibility for the recent increase in petrol prices. On Wednesday, the Nigerian National Petroleum Company Limited announced a significant rise in pump prices across various regions. In Abuja, the price surged from N897 per litre to N1,030, while in Lagos it increased from N855 […]

NNPCL sets fuel price above N1000 per litre
News

NNPC allegedly raises petrol price to N1,030/litre

The Nigerian National Petroleum Company Limited has allegedly raised the price of premium motor spirit, commonly referred to as petrol, at its retail outlets. It was observed that the price of the product increased to  N1030 per litre in Lagos on Wednesday, according Premium Times. NNPC reportedly raise the pump price of petrol from N855 […]

News

NNPC dividends to FG drop from $11.9bn to $1.83bn – Report

Dividends from the Nigerian National Petroleum Company Limited to the federation account have sharply declined from $11.9 billion to $1. 83 billion following the full implementation of the Petroleum Industry Act. This significant drop is highlighted in the latest Agora Policy Report, which examines the PIA’s impact on the federation’s revenue from 2021, the year […]

NNPCL sets fuel price above N1000 per litre
News

NNPC issues updated breakdown of estimated petrol price

The Nigerian National Petroleum Company Limited has released a new breakdown of the estimated price of petrol purchased from Dangote Refinery. AMBusiness earlier reported that in a statement on Monday, NNPC provided a detailed chart showing the refined petrol product purhased from the refinery on Sunday. The company noted that it is currently paying for […]

News

Fuel price: NNPC seeks discount from Dangote refinery

The Nigerian National Petroleum Company Limited has expressed its appreciation for any potential discount from Dangote Refinery, following the release of an updated pricing chart for Premium Motor Spirit for September 2024. The chart indicates notable regional variations in fuel prices across the country. NNPC has stated that any discounts received would be fully passed […]

featured

NNPC bought fuel from Dangote refinery at N898 – Spokesman

The Nigerian National Petroleum Company Limited has announced that it purchased fuel from the Dangote Refinery at a rate of N898 per litre. This was disclosed by the Chief Spokesperson of NNPCL, Olufemi Soneye on Sunday, according to Daily Trust. Soneye also reiterated that earlier report that the NNPC purchased petrol at N760 per litre […]

Dangote Refinery loses N32.5bn after petrol price cut
featured

NNPC, Dangote refinery near crude sale, product buy-back deal conclusion

The Nigerian National Petroleum Company Limited and Dangote Petroleum Refinery are nearing the final stages of negotiations regarding the sale of crude oil to the Dangote refinery and the subsequent buy-back of refined products in naira. Parties in the deal may conclude discussions next week, the Vice President of Oil and Gas at Dangote Industries […]

featured

NNPC reports destruction of 134 illegal refineries in one week

The Nigerian National Petroleum Company Limited announced the destruction of 134 illegal refineries over the past week and the discovery of 63 unauthorized pipeline connections. In a detailed visual report, the NNPC revealed that on Sunday at approximately 2 a.m., a joint team of security agents intercepted a large wooden boat illicitly loading stolen crude […]

Power crisis hits manufacturers as energy costs rise 27%
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NNPCL, Chinese firm partner to build 350 megawatts power plant

The Nigeria National Petroleum Company Ltd has officially signed a Memorandum of Understanding with China Engineering and Machinery Corporation to jointly develop the Gwagwalada Independent Power Plant project. This was disclosed in a statement by the company via a post on X on Saturday, highlighting the project’s significance for Nigeria’s economy. NNPCL’s Executive Vice President […]

featured

NNPC refutes sole off-taker claim, says Dangote refinery can sell widely

The Nigerian National Petroleum Company Limited has rejected allegations from the Muslim Rights Concern that it is the exclusive off-taker of petrol from the Dangote refinery and is manipulating the market to prevent lower fuel prices. This was disclosed in a statement by NNPC’s Chief Corporate Communications Manager, Olufemi Soneye via the company’s official Twitter […]

News

Petrol prices are determined by free market forces – NNPC

The Nigerian National Petroleum Company Limited has said that the recent fluctuations in Premium Motor Spirit prices are determined by free market forces. The national oil company explained that these price variations are influenced by the free market forces, as outlined in the Petroleum Industry Act (PIA), 2021. According to NNPC Ltd., the unrestricted market […]

News

Current petrol prices still below market rate – NNPC

The Vice President of Downstream at the Nigerian National Petroleum Company, Adedapo Segun has asserted that the current pump price of petrol does not accurately reflect market conditions and could be higher. In an interview on Arise TV’s morning show, Segun detailed the challenges faced by the company concerning petrol supply. He pointed out that […]

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