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Nigeria’s capital inflows jump 88.5% amid reforms

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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

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

NNPCL yet to account for N210tn flagged in audit – senate

The Nigerian Senate has raised concerns that the Nigerian National Petroleum Company Limited has yet to provide a full account of N210 trillion cited in the 2017–2023 audit report by the Office of the Auditor-General for the Federation. The Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, made the disclosure on Thursday […]

FG plans naira payment for local gas operators
Oil and Gas

Nigeria’s gas output dips slightly in May – NNPCL

The Nigerian National Petroleum Company Limited has reported a slight decline in the country’s gas production, which fell to 7.352 billion standard cubic feet per day in May 2025, down from 7.354 billion bscfd in April. According to NNPC’s latest Monthly Report Summary released on Monday, gas sales also dropped marginally, from 4.240 billion bscfd […]

News

NNPC alleges coordinated plot against its leadership

The Nigerian National Petroleum Company Limited says it has uncovered a coordinated sabotage campaign by a syndicate aiming to undermine its leadership. In a statement issued Friday, NNPC management alleged that the group—comprising individuals both within and outside the organisation—is threatened by its anti-corruption reforms and is spreading false reports to discredit the company. The […]

NNPCL sets fuel price above N1000 per litre
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NNPC retail stations hike petrol price to ₦945 per litre 

The Nigerian National Petroleum Company Limited has increased petrol prices at its retail outlets, with Premium Motor Spirit now costing ₦945 per litre in the Federal Capital Territory and ₦915 per litre in Lagos. This reflects a ₦35 hike in Abuja (from ₦910) and a ₦45 hike in Lagos (from ₦870). The adjustment follows Dangote […]

News

NNPCL, Mele Kyari deny wrongdoing in Tantita pipeline contract award

The Nigerian National Petroleum Company Limited, its former CEO Mele Kyari, and others have filed a counter-affidavit denying allegations by the Incorporated Trustees of the AGIP Indigenous Contractors Association and others, who accused them of unlawfully awarding a pipeline surveillance contract to Tantita Security Services Limited in the Niger Delta. This was disclosed in a […]

Business

NNPCL targets four FIDs by 2025, posts N5.89tn revenue

The Nigerian National Petroleum Company Limited is poised to make major investment commitments this year, with four key Final Investment Decisions anticipated before the close of 2025. This development was announced in the “NNPC Monthly Report Summary for April 2025,” shared via the company’s official X (formerly Twitter) handle on Thursday. By the fourth quarter […]

News

Beware of fraudsters impersonating NNPCL officials, Spokesman warns investors

The Nigerian National Petroleum Company Limited has raised an alarm over fraudulent activities by individuals impersonating its officials to extort money from investors. In a statement on Monday, NNPC spokesperson, Olufemi Soneye, revealed that the impostors have been demanding fees from unsuspecting investors in exchange for arranging meetings with the company’s board members, executives, and […]

Domestic refining output falls by 92% - Report
Business

P’Harcourt refinery shuts down for planned maintenance — NNPCL

The Nigerian National Petroleum Company Limited has announced a scheduled shutdown of the Port Harcourt Refining Company for maintenance, starting Saturday, May 24, 2025. In a statement by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, the company said the temporary closure is part of a planned maintenance and sustainability assessment designed to enhance the refinery’s […]

Business

NNPCL eyes 1.9mbd oil output in 2025 – Ojulari

The Nigerian National Petroleum Company Limited is on track to boost crude oil production to 1.9 million barrels per day by the end of 2025, according to Group Chief Executive Officer Bashir Bayo Ojulari. The ambitious target was announced during the inauguration of the NNPC Ltd Board at the State House in Abuja on Thursday, […]

News

Former MDs of Warri, Kaduna, PH refineries threaten N50b lawsuit

Three former Managing Directors of Nigeria’s major refineries have threatened legal action against a leading national newspaper, demanding N50 billion in damages over an alleged defamatory report that linked them to a multi-billion-dollar fraud scandal. The former MDs – Mr. Ibrahim Onoja (Port Harcourt Refining Company), Mr. Efifia Chu (Warri Refining and Petrochemical Company), and […]

Oil and Gas

Marketers lament losses after NNPC’s petrol price cut

Petroleum product marketers expressed concerns on Monday over their losses following a price reduction by the Nigerian National Petroleum Company Limited. The price of Premium Motor Spirit was lowered to N880 per litre in Lagos and N935 in Abuja. NNPC retail outlets in Lagos adjusted their pump price from N925 to N880 on Easter Monday, […]

Oil and Gas

NNPC targets $60b investments, three million bpd output by 2030 — Ojulari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited has unveiled an ambitious growth plan for the company, stating that under his leadership, NNPC aims to secure $30 billion in sectoral investments by 2027, increasing to $60 billion by 2030. In addition, the company is targeting a steady crude oil production level […]

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