NNPC Reveals how much Nigerians may pay for litre of petrol after subsidy removal in 2021

The Group Managing Director and Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Malam Mele Kyari, says Nigeria should be out of subsidy regime by the end of February 2022. Vanguard reported that Mallam Kyari stated this at the presentation of the World Bank Nigeria Development Update, November 2021 edition titled “Time … Continue reading NNPC Reveals how much Nigerians may pay for litre of petrol after subsidy removal in 2021

Panic as NNPC pipeline leajs in Ikotun, Lagos

Panic as NNPC pipeline leaks in Ikotun, LagosThere was panic in the Ikotun area of Lagos State on Friday following the leakage of a pipeline belonging to the Nigerian National Petroleum Corporation.Residents said they noticed the leakage around 06 am on Friday.According to them, the situation led to confusion and fear in the area.It was … Continue reading Panic as NNPC pipeline leajs in Ikotun, Lagos

Peterside doubts NNPC N287bn profit

Peterside doubts NNPC N287bn profit, challenges corporationFounder of IBTC Stanbic Bank, Atedo Peterside, has challenged the Nigerian National Petroleum Corporation to clarify allegations that it dipped its fingers in the federation account in order to announce a profit of N287bn.The President, Major General Muhammadu Buhari (retd.), had announced a net profit by the NNPC for … Continue reading Peterside doubts NNPC N287bn profit

DPR registers 110 filling station in e- Portal

A filling station used to illustrate the storyThe Department of Petroleum Resources (DPR) says it has registered 110 filling stations on its recently introduced e-station Downstream Remote Monitoring System (DRMS) portal in Taraba. Operations Controller of the DPR, Jalingo Field Office, Abdullahi Bature, said this at a news conference in Jalingo on Monday. Mr Bature … Continue reading DPR registers 110 filling station in e- Portal

Buhari announces NNPC profit N287 billion

First Time In 44yrs, Buhari Announces N287bn NNPC’s Profit After TaxFor the first time in the history of the Nigerian National Petroleum Corporation (NNPC), President Muhammadu Buhari announced that the corporation generated a profit after tax of N287 billion in 2020.Buhari said the NNPC’s audited financial statement for year 2020 showed the NNPC’s losses were … Continue reading Buhari announces NNPC profit N287 billion

NNPC ready to deduct N215bn from September FAAC

NNPC-Towers-Abuja NNPC Ready to Deduct N215bn from September FAACThe Nigerian National Petroleum Corporation (NNPC) is once more set to deduct about N215.3 billion from its contribution to next month’s joint Federation Account.The aforementioned amount is a combination of N175 billion value shortfall or subsidy and N40 billion Joint Venture (JV) cost recovery.In a document obtained … Continue reading NNPC ready to deduct N215bn from September FAAC