NNPC Struggles with Funding for Pipeline Repairs, Minister Heineken Lokpobiri Reports
In a recent statement at the Energy and Labour Summit 2024, Heineken Lokpobiri, the Minister of State for Petroleum Resources, addressed a significant concern facing Nigeria’s oil sector: the lack of funds for repairing the country’s aging pipelines. The summit, organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja, […]
Atiku Accuses Tinubu of Turning Nigeria into His Private Business
Former Vice President Atiku Abubakar has made serious allegations against President Bola Tinubu, accusing him of running Nigeria like it’s his personal business. According to Atiku, Tinubu is using his power to benefit himself, his family, and close allies, turning the country’s resources and institutions into tools for his own gain. In a statement shared […]
Why NNPC Sells Fuel Below Landing Cost – It Is Not Subsidy
In a recent announcement, the Nigerian National Petroleum Company Limited (NNPC Ltd.) clarified that it has not been paying fuel subsidies for the past nine months, despite selling fuel at prices lower than the landing cost. According to Umar Ajiya, NNPC’s Chief Financial Officer, the company is not engaged in subsidizing fuel. Instead, NNPC is […]
Dangote Refinery Yet to Receive 29m Barrels Crude Allocation, Counters NUPRC Claim
The ongoing challenges in Nigeria’s oil and gas industry continue as Dangote Refinery has announced that it has not yet received the 26 million barrels of crude oil allocation that was reportedly facilitated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a recent statement, Dangote Group’s spokesperson, Anthony Chiejina, responded to NUPRC’s claims that […]
NNPC – Reasons Behind Fuel Scarcity in Lagos and Abuja
If you’ve been experiencing long queues at fuel stations in Lagos and Abuja, you’re not alone. The Nigerian National Petroleum Company Limited (NNPC) has shed light on the reasons behind the current fuel scarcity in these areas. Olufemi Soneye, the chief corporate communications officer at NNPC, explained that the tight fuel supply is due to […]
Fuel Scarcity: Petrol Prices Reach N720 Per Litre
Due to private depot owners raising the ex-depot price of petrol from N630 to N720 per litre, fuel scarcity is beginning to manifest in Lagos and other regions of Nigeria. Due to their refusal to purchase the pricey fuel from private depots, numerous gas stations in Lagos, Ogun, and other states have ran out of […]
Fuel to sell N500 per litre as Port Harcourt Refinery set to release product – Marketers
Oil marketers have indicated that the Port Harcourt Refinery is nearing readiness to distribute Premium Motor Spirit, commonly known as fuel, at a price below N500 per litre. National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, confirmed that the Port Harcourt Refinery will soon release the fuel to marketers. He noted that at the moment, […]