The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but ruled out any increase in the pump price of the product. The Group Managing Director, NNPC, Mele Kyari, while delivering a presentation at a conference organised by energy correspondents in Lagos, said the corporation had adequate stock…
President Muhammadu Buhari has praised the management and board of the Nigerian National Petroleum Corporation for declaring a profit for the first time in forty-four years. In its annual audited report for year 2020, the NNPC declared a profit after tax of two hundred and eighty-seven billion naira. President Buhari said the record is in line with…
The two chambers of the National Assembly have passed the Petroleum Industry Bill for the second time in thirteen years. The PIB intends to reform the oil sector and breakup the Nigerian National Petroleum Corporation into smaller business units. The Eighth National Assembly had passed a modified version the PIB, which it called Petroleum Industry Governance Bill,…
The pump price of petrol is expected to go up again, as the Nigerian National Petroleum Corporation says it can no longer carry the load of subsidy. The NNPC claims that it currently spends up to one hundred and twenty billion naira on petrol subsidy every month in order to keep the cost of petrol at their…
The Federal Government is still paying subsidy on petrol despite the claim of deregulation and increase in the pump price of fuel. This was confirmed by the Minister of State for Petroleum Resources, TIMIPRE SYLVA, during an interview on a television programme. SYLVA said only the Nigerian National Petroleum Corporation is able to import petrol for now…
The Police High Command has been criticized over the withdrawal of policemen attached to some important personalities. Former member of the National Assembly, Senator MAGNUS ABE, who was also affected by the decision, said it was wrong for the action of the police to have been announced to the public. Senator ABE, who is from Rivers State,…