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Tag: NNPCL

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 […]

News

Reps to probe NNPCL boss removal

The House of Representatives has received and approved a petition from the socio-cultural group, Ezi Umuada Igbo, demanding the removal of Sophia Mbakwe, the Executive Vice President (Business Services) of the Nigerian National Petroleum Company Limited. The group claims Mbakwe is occupying a position designated for the South East region but allegedly is not from […]

Crude oil
Oil and Gas

Presidency eyes NNPC asset shake-up to boost oil output

The Presidency is currently making plans to restructure asset ownership within the Nigerian National Petroleum Company Limited due to mounting concerns regarding what it describes as the company’s low oil production output. This move was disclosed on Monday by the Special Adviser to the President on Energy, Olu Verheijen, while speaking at the Nigerian Association […]

Dangote refinery investors gain N1.2tn in two days
Oil and Gas

NNPCL plans 20% increase in Dangote Refinery stake

The Nigerian National Petroleum Company Limited on Tuesday disclosed plans to raise its equity stake in the $20 billion Dangote Petroleum Refinery to 20 per cent, as part of efforts to strengthen Nigeria’s domestic refining capacity and consolidate its position in the downstream oil sector. The Group Chief Executive Officer of NNPC, Bayo Ojulari, made […]

Business

Nigeria eyes $60b energy investment under NNPC’s 2030 vision

The Nigerian National Petroleum Company Limited has announced plans to attract $60 billion in investments by 2030 through strategic partnerships aimed at advancing Africa’s energy transition. Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference 2025 in […]

Business

NNPCL seeks joint investments to unlock Africa’s energy prosperity

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has urged energy firms and financial institutions to adopt co-investment strategies to de-risk Africa’s infrastructure and promote shared prosperity. In a post on X on Monday, NNPC said Ojulari made the call during a closed-door session of the Global Oil Club, […]

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