NNPC

The Nigerian National Petroleum Company Limited (NNPC) is currently exploring the possibility of divesting its state-owned refineries after years of costly renovation efforts that have yielded minimal results. This strategic reconsideration comes as part of a larger effort to enhance the company's operational efficiencies and long-term sustainability. At the recent 9th OPEC International Seminar held in Vienna, Bayo Ojulari, the Group Chief Executive Officer of NNPCL, took a candid approach in discussing the…

Scammers Target Unwary Investors in the Name of NNPC In an alarming development that underlines the importance of vigilance in today’s financial landscape, the Nigerian National Petroleum Corporation (NNPC) has issued a public advisory regarding impersonators posing as representatives of the company. These deceptive individuals have been soliciting unwary investors for fees, purportedly to facilitate meetings with the company’s executives, management team, and board of directors. The statement, released on a recent…

Restructuring for a New Dawn at Nigeria's NNPC On an ordinary morning, beneath the picturesque skies that often grace Nigeria, President Bola Tinubu made an extraordinary decision, one that would ripple across the oil-rich nation: the dissolution of the board of the Nigerian National Petroleum Company (NNPC). Among those relieved of their duties were notable figures such as its Group Chief Executive Officer, Mele Kyari, and Board Chairman, Pius Akinyelure. The sun had barely peeked over the horizon when presidential…

Anticipating Transformation: NNPC Ltd's Journey to the Capital Market The Nigerian National Petroleum Company Limited (NNPC Ltd) is poised at a significant juncture. As they prepare for a transformative shift, they are in the final stages of getting listed on the capital market. This comes in response to the requirements set out by the Petroleum Industry Act (PIA) of 2021. But what does this mean for Nigeria and its energy sector?…

In what seems to be an intricate dance of negotiations, the Nigerian National Petroleum Company (NNPC) Limited has recently confirmed that discussions are underway for a fresh naira-for-crude agreement with the Dangote Petroleum Refinery. This comes at a time when many Nigerians are anxiously holding their breath, following murmurs and yet-to-be-silenced rumors about potential hikes in petrol prices. Could these ongoing talks bring relief, or are they merely casting longer shadows of uncertainty over the…

Understanding Nigeria's Crude Oil Dilemma It seems Nigeria may soon witness another increase in petrol prices, and the reason might surprise you. Recently, the Nigerian National Petroleum Company (NNPC) Limited has reportedly halted a significant arrangement: the naira-for-crude deal with local refineries. It's a complex issue that might ripple through various sectors of everyday life. Inside sources suggest that NNPC has ceased this crucial deal, which now forces local refineries,…

Fuel Price Reduction: A New Dawn for Nigerians On Monday, Nigerians will breathe a little easier with a new development that promises financial relief. There’s no denying that fuel costs have been a significant burden since the removal of fuel subsidies in this bustling nation. But what does this price cut mean for the everyday Nigerian? Recently, Dangote Petroleum Refinery took a bold step, lowering its ex-depot price from N890 to N825 per litre. It’s not just a number; it's a…