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Tag: NNPCL

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NNPC secures equipment to setup 40 new CNG stations

The Nigerian National Petroleum Company Limited has acquired the necessary equipment to set up an additional 40 Compressed Natural Gas stations across Nigeria. This move supports the Federal Government’s plan to establish around 100 CNG stations within the next six months. The Programme Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, […]

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NNPCL mulls 3mbpd crude oil production

The Nigerian National Petroleum Company Limited has expressed confidence in its ability to boost crude oil production from 1.7 million barrels per day to three million. This was disclosed by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, during a stakeholders’ engagement session with journalists covering the National Assembly on Saturday, according to The […]

NNPCL sets fuel price above N1000 per litre
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JUST IN: NNPCL sets fuel price above N1000 per litre

The Nigerian National Petroleum Company Limited has announced the estimated pump price of Premium Motor Spirit (PMS) above N1,000 after its initial purchase of the Dangote refinery product. NNPCL’s spokesperson, Olufemi Soneye, Chief Corporate Communications Officer,  in a statement early on Monday, said that the new pump price is based on Dangote’s September 2024 PMS […]

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  • 16th September 2024
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NNPC trucks start loading at Dangote refinery

Trucks at the Dangote Refinery in Ibeju-Lekki area of Lagos State have started lifting Premium Motor Spirit, popularly known as petrol, on Sunday. This was disclosed in a video posted via the X account of Dangote Group on Sunday. This marks a significant step in the refinery’s operations. The tweet read, “First set of trucks […]

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NNPCL, Chevron complete conversion of five JV assets

The Nigerian National Petroluem Company Limited and Chevron Nigeria Limited have successfully transitioned five of their joint venture assets to align with the PIA framework in compliance with the Petroleum Industry Act 2021. This was disclosed in an X post by the Chief Corporate Communications Officer, Olufemi Soneye via his official account on Monday. The […]

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NNPC raises petrol price to N897 per litre

The Nigerian National Petroleum Company has raised the price of Premium Motor Spirit to N897 per liter nationwide. This increase is already in effect at some NNPC filling stations. Prices are expected to be higher at independent and major marketer outlets, with NNPC’s prices varying by location: N897 per liter in Abuja, N904 in Kano, […]

Dangote Refinery loses N32.5bn after petrol price cut
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NNPCL to be sole buyer of Dangote refinery oil- Report

Dangote Refinery has commenced the production of premium motor spirit or petrol, positioning the Nigerian National Petroleum Company Limited as its first exclusive buyer. According to a recent Reuters report, the refinery, which boasts a capacity of 650,000 barrels per day, is in the final stages of testing and will begin rolling out petrol in […]

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NNPC lacks required funds to fix old pipelines – Minister 

The Federal Government has said that the Nigerian National Petroleum Company Limited lacks the necessary funds to rebuild its aging pipeline infrastructure. This was revealed by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the 2024 Energy and Labour Summit held in Abuja, according to The Punch. Lokpobiri emphasized the urgent necessity […]

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FIRS remittance: NNPCL deducts $262.55m for road tax credit scheme

The Nigerian National Petroleum Company Limited has deducted $262.55 million from its remittances to the Federal Inland Revenue Service under the Road Infrastructure Tax Credit Scheme. This information was revealed in a report from the FAAC Post-Mortem Sub-Committee (PMSC) meeting held in August 2024, according to Nairametrics. The report details that NNPCL deducted $52.51 million […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPCL reports N2.69trn in tax expenses for 2023

The Nigerian National Petroleum Company Limited  has reported a total tax expense of N2.69 trillion for the fiscal year 2023, according to its financial statement published yesterday on the company’s website. However, the actual taxes paid by NNPCL in 2023 amounted to N1.17 trillion. This total includes N497.26 billion in income tax and N669.09 billion […]

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FG pays NNPC to sell PMS at half price of landing cost – CFO

The Chief Financial Officer of the Nigeria National Petroleum Company Ltd, Alhaji Umar Ajiya has revealed that the government compensates the company for selling PMS at half the landing cost, a term he refers to as the “shortfall.” The C.F.O., provided this clarification on Monday in Abuja while presenting the company’s 2023 full-year result where […]

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NNPCL reports record N3.29trn profit for 2023

Alex Omenye The Nigerian National Petroleum Company Limited has announced a record net profit of N3.297 trillion for the financial year ending December 2023, marking the highest profit in the company’s 46-year history. This represents a significant increase of over N700 billion, or 28%, compared to the N2.548 trillion profit recorded in 2022. During a […]

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