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FG Cancels $1.42bn, N5.57tn NNPC debt
President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn after a reconciliation of records between both parties. The report, titled “Report of October 2025 Revenue Collection Presented at the Federation Account Allocation […]
NNPC Confirms Explosion on Escravos-Lagos Gas Pipeline
The Nigerian National Petroleum Company Limited (NNPC) has confirmed an explosion on the Escravos-Lagos Pipeline near the Tebijor, Okpele, and Ikpopo communities in Gbaramatu Kingdom, Delta State, raising renewed safety concerns. According to the company’s Chief Corporate Communications Officer, Andy Odeh, a sudden pressure drop on the line indicated a loss of containment on a […]
NNPC, NUPRC, NMDPRA Shut As PENGASSAN Begins Strike
The strike, which followed the weekend directive by the union’s National Executive Council, prompted members across the country to withdraw their services, effectively shutting down critical agencies that drive Nigeria’s oil and gas industry. According to journalists, the main gate was firmly locked, leaving several employees stranded outside the premises. Security operatives on duty confirmed […]
NNPCL increases fuel price
It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890. This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja. Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa. This means […]
NNPC rules out Port Harcourt refinery sale
The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant. Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, made the announcement during a company-wide town hall meeting at the NNPC Towers in Abuja, ending […]
NNPCL reduces fuel price
It was observed that the state-owned oil firm has adjusted its petrol price to N890 per litre from N895. This represents an N5 per litre downward price review when compared to its earlier N895 pump price. NNPCL retail outlets along Kubwa Expressway, Gwarimpa, Wuse Zone 4, and others in Abuja have adjusted their pumps to […]
NNPC announces Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that a scheduled maintenance shutdown of the Port Harcourt Refining Company (PHRC) is scheduled to commence on May 24, 2025. In a statement released by the Chief Corporate Communications Officer, Femi Soneye, the NNPC said the shutdown is part of a planned maintenance and sustainability […]
No explosion at Port Harcourt refinery – NNPC
The Nigerian National Petroleum Company Limited has dismissed the report of an explosion at the Port Harcourt Refining Company in Rivers State, describing the incident as a minor flare event that posed no threat. NNPC Chief Corporate Communications Officer, Olufemi Soneye,in a statement ,clarified that there was no explosion at the facility and that the […]
Petrol price reduction imminent as IPMAN, Dangote agree on direct fuel sale
The Independent Petroleum Marketers Association of Nigeria has said the commencement of direct sales of Dangote’s Premium Motor Spirit (Petrol) to its members will crash the price of fuel in the country in the coming days.
NNPC releases another estimated petrol price breakdown
It was reported that in a statement, the NNPC gave a chart breakdown of the refined petrol product it bought from the refinery. The nation’s oil firm stated that it is paying the Dangote refinery in United States dollars for the September 2024 petrol offtake, adding that Naira transactions will only commence on October 1st, […]