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Business

NNPC revenue surges 79% to N4.97tn in April 2026

The Nigerian National Petroleum Company Limited recorded a strong improvement in its financial performance in April 2026, with revenue rising significantly to N4.97 trillion from N2.77 trillion in March. According to the company’s April 2026 operational and financial report released on Saturday, the increase represents a month-on-month revenue growth of approximately 79 per cent. The […]

Oil and Gas

NNPCL revenue jumps 79% to ₦4.97tn

The Nigerian National Petroleum Company Limited recorded a 79.23 per cent increase in revenue in April 2026, with earnings rising to N4.971 trillion from N2.774 trillion reported in March, according to its latest monthly financial and operational report. The state-owned energy company also posted a significant rise in profitability, with profit after tax increasing by […]

Oil and Gas

Why we rejected NNPCL’s bid to increase stake in refinery — Dangote

President of the Dangote Group, Aliko Dangote, has disclosed that the company turned down efforts by the Nigerian National Petroleum Company Limited to raise its 7.25 per cent equity holding in the Dangote Petroleum Refinery. The PUNCH reported that Dangote made the revelation during an interview with Nicolai Tangen, the chief executive officer of the […]

Business

NNPC, NUPRC remit over N322bn, $116.9m into federation account

The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission remitted more than N322 billion and $116.9 million into the Federation Account within two months of the implementation of Executive Order 9, signed in February 2026, according to documents presented at Federation Account Allocation Committee meetings. The documents, drawn from presentations by […]

Opinion

NECA queries NNPC refinery deal with chinese firms

The Nigeria Employers’ Consultative Association has raised serious concerns over the recent Memorandum of Understanding signed between the Nigerian National Petroleum Company Limited and Chinese firms for the “restart, completion and expansion” of the Port Harcourt and Warri refineries. It also warned that Nigeria could not afford another failed refinery rehabilitation project. Vanguard reported that […]

Business

NNPC rules out spending on new refinery rehabilitation deal

New information has surfaced regarding the recently signed Memorandum of Understanding between the Nigerian National Petroleum Company Limited and two Chinese firms — Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd — to explore a potential Technical Equity Partnership aimed at supporting the completion and operation of the Port […]

featured Opinion

Atiku faults NNPCL, China deal on Port Harcourt refineries

Former Vice President Atiku Abubakar has urged the Federal Government to halt the Nigerian National Petroleum Company Limited’s refinery partnership arrangement with two Chinese firms, describing the deal as lacking transparency and raising concerns over the technical capacity of the companies involved. In a statement released on Friday through his Senior Special Assistant on Public […]

featured Oil and Gas

NNPCL signs MoU with Chinese firms to revive refineries

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms for the restart, operation and expansion of the Warri and Port Harcourt refineries. Vanguard reported that in a statement on Monday, NNPC’s Chief Corporate Communications Officer, Andy Odey, said the agreement was signed with Sanjiang Chemical Company Limited and […]

Business

NNPCL, Chinese firms partner to revive Warri, Port Harcourt refineries

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms aimed at restarting and expanding the Warri and Port Harcourt refineries. This was disclosed in a press statement dated May 3, 2026, and signed by the company’s Chief Corporate Communications Officer, Andy Odeh. The agreement was signed on April […]

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