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Tag: NNPCL

Reps to investigate NNPCL over failure to remit revenue
featured

Reps to investigate NNPCL over failure to remit revenue

        The Nigerian National Petroleum Company Limited’s failure to transfer funds to the federation account will be the subject of inquiries by the House of Representatives. This came after the plenary on Tuesday approved a resolution by Uduak Odudo titled “Need to investigate the non-remittance of due taxes by the Nigerian National […]

NNPCL blames market forces for fuel price hike
Oil and Gas

NNPCL blames market forces for fuel price hike

The group chief executive officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has attributed the rise in the per-liter pump price of fuel from N537 to N617 to market forces. The NNPCL CEO clarified that the hike is not based on a shortage of fuel in an interview with reporters on Tuesday following a meeting with […]

NNPC, First E&P provide free healthcare in host communities
Business

NNPCL reiterates intention to sell stocks

NNPC Ltd., the Nigerian National Petroleum Company, has reiterated plans to offer its Initial Public Offer to investors very soon. This was stated by the Group Chief Executive Officer of NNPC Ltd., Mele Kyari, on Tuesday in Abuja at the 22nd Nigeria Oil and Gas Energy Conference and Exhibition. The topic of the conference is “Powering Nigeria’s […]

Four consortia to repair deteriorated pipelines - NNPCL
News

NNPCL debunks Mele Kyari’s rumoured suspension

Kazeem Owoseni     The Nigerian National Petroleum Corporation Limited on Saturday refuted the rumours suggesting that its Group Chief Executive Officer, Mele Kyari, has been sacked by President Bola Ahmed Tinubu.   NNPCL’s Chief Corporate Communications Officer, Garba Deen Muhammad, told Daily Post in a telephone conversation that the news was untrue.   “It […]

featured

NNPCL to reduce fuel import from August

  The Nigerian National Petroleum Company has revealed that it would cut down on fuel import once the Dangote Refinery starts pumping out refined petroleum products from late July or early August. According to The PUNCH, the national oil firm’s spokesperson, Garba-Deen Muhammad stated this in an exclusive interview. He said, “NNPC Limited is bringing […]

NNPC, First E&P provide free healthcare in host communities
News

How NNPCL spent N4.8trn operating state-owned refineries 10 years

Operating state-owned refineries cost the Nigerian National Petroleum Company Limited N4.8 trillion between 2010 and 2020. Nairametrics reported that the Federal House of Representatives said that since 2010, the Port Harcourt, Warri, and Kaduna refineries’ output has not surpassed 30%. Although the House of Representatives report claimed that the refineries had been idle for years, […]

Why FG should reveal names of subsidy beneficiaries - NLC
News

Why FG should reveal names of subsidy beneficiaries – NLC

The president of the NLC, Comrade Joe Ajaero, has demanded that the names of people and businesses that have received subsidies be made public. According to Nairametrics, he contended that a private limited business like the NNPCL shouldn’t have the power to set fuel pump prices. The NLC President claimed the argument that market forces are to […]

Four consortia to repair deteriorated pipelines - NNPCL
featured

Private Nigerian firms to begin fuel importation June 2023 – NNPCL

As the Nigerian National Petroleum Company Limited prepares to discontinue crude oil exchange contracts and transition to cash payments for fuel imports, private businesses in Nigeria will have the option to purchase fuel beginning in June 2023. According to Reuters, on June 3, NNPCL’s group chief executive officer, Mele Kyari, made the statement which is consistent […]

Reps permit NIMASA to distribute $360m cabotage fund
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Reps permit NIMASA to distribute $360m cabotage fund

The $360 million Cabotage Vessel Finance Fund will now be distributed to eligible Nigerian shipowners by the Maritime Administration and Safety Agency of Nigeria. According to Nairametrics, this information was revealed in a statement released on Friday in Lagos by Assistant Director of Public Relations, NIMASA, Mr. Osagie Edward. After conducting an investigation, the House Committee, which […]

BREAKING: NNPCL confirms new petrol pump price increase
Policy and Regulations

Subsidy: Fuel prices will drop naturally, says NNPCL boss

By Wilson Adekumola   The Group Chief Executive Officer, of the Nigeria National Petroleum Company Limited, Mr. Mele Kyari, has disclosed that the removal of fuel subsidy would encourage more competitors wherefore, naturally reduce the current price of Premium Motor Spirit, also known as petrol.   Kyari made this disclosure while featuring on Arise TV’s […]