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Court orders final forfeiture of $13m linked to Lagos

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Crude-for-naira: Dangote refinery gets only five of 15 cargoes,

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Tag: NNPCL

Oil and Gas

Tinubu writes off $1.42bn, N5.57tn NNPCL debts

President Bola Tinubu has approved the cancellation of a large portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn following a reconciliation of records between both parties. The approval is contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission […]

Business

NNPCL completes AKK pipeline, boosting gas supply

NNPC Limited has completed the main pipeline of the Ajaokuta–Kaduna–Kano gas project, a significant milestone in expanding gas supply to northern Nigeria. The Group Chief Executive Officer, Bayo Ojulari, disclosed this on Sunday after meeting with President Bola Tinubu in Lagos. Ojulari said the milestone paves the way for the next phase of the project, […]

Oil and Gas

Petrol price war will benefit Nigerians, says NNPCL boss

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has assured Nigerians that the ongoing price competition in the downstream petroleum sector will ultimately favour consumers. Ojulari said the present tensions in the market are a natural outcome of Nigeria’s shift from near-total reliance on fuel imports to domestic refining […]

NNPCL sets fuel price above N1000 per litre
featured Oil and Gas

NNPCL slashes petrol price to N835/ltr

The Nigerian National Petroleum Company Limited has reduced the pump price of petrol for the third time in December 2025. According to Daily Post, monitoring fuel stations across Abuja on Thursday, it was observed that NNPCL lowered the price of petrol to N835 per litre from the previous N915. The adjustment represents a reduction of […]

News

NNPC confirms pipeline explosion in Delta

The Nigerian National Petroleum Company Limited has confirmed a major pipeline explosion near the Tebijor, Okpele, and Ikpoро communities, which are located in the Gbaramatu Kingdom of Delta State. The incident was first reported to have occurred late on Wednesday afternoon, specifically around 17:50 hours. This confirmation was formally released on Thursday by the Chief […]

Oil and Gas

NNPCL targets 2mbpd crude oil in 2026

The Nigerian National Petroleum Company Limited has officially set its crude oil production target for the year 2026 at more than two million barrels per day. This announcement was made by Engr. Akponime Omojevwhe, Head of Field Operations, Eastern Corridor, Project Monitoring Office of NNPCL, during the monthly stakeholders’ meeting held with host communities of […]

Business

NNPCL resumed petrol imports in October – NMDPRR

The Nigerian National Petroleum Company Limited has resumed importing petrol, reversing its decision to stop doing so a year ago. On November 12, 2024, the company’s former Group Chief Executive Officer, Mele Kyari, had stated that NNPCLwould no longer import petroleum products. However, according to its ‘State of the Midstream and Downstream Fact Sheet’ for […]

featured Oil and Gas

NNPCL subsidiary hits 355,000 bpd, highest output since 1989

NNPC Limited on Tuesday disclosed that oil production by its upstream subsidiary, NNPC E&P Limited, has reached 355,000 barrels per day. The company, in a statement by Chief Corporate Communications Officer, Andy Odeh, said the milestone was achieved on December 1, 2025, representing its highest daily output since 1989. Odeh noted that the output marked […]

featured Oil and Gas

NNPCL’s revenue hits N5.08tr in October

The Nigerian National Petroleum Company Limited reported a significant surge in revenue for October 2025, reaching N5.08 trillion. This figure marks a substantial increase from the N4.27 trillion recorded in September. The company’s Monthly Report Summary for October 2025 contained these financial figures. The report indicates that NNPC Ltd’s profit after tax saw a sharp […]

Oil and Gas

NNPCL declares N5.4tr profit

The Nigerian National Petroleum Company Limited has declared a profit after tax of N5.4 trillion for the 2024 financial year, a growth of 63.6 per cent when compared to N3.3 trillion recorded in the previous year. The company’s revenue also grew to N45.07 trillion from N23.9 trillion recorded in 2023. The NNPC financial statements released […]

Oil and Gas

How naira float drove NNPC to N5.4tr profit in 2024 — Ojulari

The Nigerian National Petroleum Company Limited recorded a substantial Profit After Tax of ₦5.4 trillion on a total revenue of ₦45.1 trillion in its 2024 financial operations. This significant financial boost was attributed primarily to the Central Bank of Nigeria’s decision to float the local currency in 2023. These figures were disclosed by the NNPCL’s […]

Business

NNPC audit uncovers over N61bn in irregular payments

The Office of the Auditor-General for the Federation has identified 28 significant financial irregularities involving the Nigerian National Petroleum Company Limited, totaling approximately N61.1 billion. The discrepancies include questionable payments and undocumented expenditures amounting to N30.1 billion, $51.6 million, £14.3 million, and €5.17 million. According to the report obtained on Sunday these issues are detailed […]

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