Senate Panel Summons Mele Kyari, Ex-NNPCL Officials Over ₦210Trn Discrepancies
Nigeria’s Senate Committee on Public Accounts has summoned former Mele Kyari and members of his management team over alleged financial discrepancies totaling ₦210 trillion. The investigation focuses on issues discovered in the audited financial records of Nigerian National Petroleum Company Limited between 2017 and 2023. The committee chairman, Ahmed Wadada, said the summons followed what […]
NNPCL increases petrol price in Lagos, Abuja
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol in Lagos and Abuja. Motorists in Lagos will now buy petrol at ₦835 per litre, while the price in Abuja has risen to ₦839 per litre. The new rates took effect across NNPCL retail outlets on Wednesday. The price adjustment comes […]
Ojulari reacts as NNPCL, Chevron discover fresh oil well in Niger Delta
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has reacted to the discovery of a fresh oil well in the Niger Delta by Chevron Nigeria Limited. The oil find was made at the Awodi-07 appraisal and exploration well in the shallow offshore western Niger Delta, under the NNPCL/Chevron […]
NNPCL reduces fuel price again
The Nigerian National Petroleum Company Limited (NNPCL) has once again reduced the pump price of petrol at its retail outlets. The new price now stands at ₦815 per litre, down from the previous ₦835, representing a reduction of ₦20. The change was observed at several NNPCL filling stations across Abuja on Monday morning. The price […]
Sell Port Harcourt, three other NNPCL refineries in 2026 – PETROAN to Nigerian Govt
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has advised the Federal Government to sell the Port Harcourt refinery along with three other refineries operated by the Nigerian National Petroleum Company Limited (NNPCL) in 2026. The group believes that private sector control will improve efficiency and reduce the burden on government resources. PETROAN […]
NNPCL revenue, profit soar to N5.08tn, N447bn in October
The Nigerian National Petroleum Company Limited (NNPCL) recorded a major financial jump in October, reporting revenue of N5.08 trillion and a profit of N447 billion. This performance has been described as one of the company’s strongest in recent months, reflecting improved operations, rising crude output, and better market conditions. The company says the strong numbers […]
NNPCL reveals reason behind N5.4trn profit after tax
The Nigerian National Petroleum Company Limited (NNPCL) has revealed the reason behind its huge profit of N5.4 trillion after tax. The company said strong sales, efficient operations, and better management of resources contributed to the impressive earnings. Officials highlighted that strategic investments in upstream and downstream activities also helped boost revenue. NNPCL’s leadership explained that […]
Nigerian govt mulls sale of NNPCL refineries
The Nigerian government is reportedly looking into the possibility of selling the refineries owned by the Nigerian National Petroleum Company Limited (NNPCL). According to top officials, this option is being reviewed as part of wider plans to reform the oil sector and improve fuel supply across the country. The move comes after years of investment […]
NNPCL reaffirms plan to hit 2 million barrels daily by 2027
The Nigerian National Petroleum Company Limited (NNPCL) has repeated its commitment to raising the country’s crude oil production to two million barrels per day by 2027. The company explained that several strategic reforms, investments in technology, and partnerships with private firms are already being put in place to achieve this goal. According to NNPCL, boosting […]
Why court froze ex-NNPCL boss Mele Kyari’s account with Nigerian bank — Judge
The court has frozen the bank accounts of Mele Kyari, former CEO of the Nigerian National Petroleum Company Limited (NNPCL), following a request by the Economic and Financial Crimes Commission (EFCC). Justice Emeka Nwite explained that the order was necessary to support an ongoing investigation. The decision has added new legal challenges for Kyari. On […]