On Monday, September 2, Nigeria took huge leaps towards ending a 28-year scourge of fuel importation, when Dangote Refineries announced the commencement of the production of Premium Motor Spirit (PMS), otherwise called petrol in our climes. It was a good day for businessman Aliko Dangote, whose vision led to the construction of the 650,000 barrels … Read more
THE Nigerian National Petroleum Company Limited (NNPCL) has increased the price of Premium Motor Spirit (PMS), otherwise known as petrol, from N617 to N855. The new pump price of petrol was displayed at the NNPCL filling stations in Lagos on Tuesday, September 3, 2024. No formal announcement has yet been made to rationalise the price … Read more
…says incompetence is the bane of the fuel crisis. THE Presidential Candidate of the Labour Party in the 2023 general elections, Peter Obi has challenged the federal government to come clean and tell Nigerians all that is going on in the NNPCL owned by the people. Obi said that the continuous running of critical government … Read more
DANTATA, who owns MRS Oil & Gas Co. Limited, has been implicated in the ongoing controversy surrounding fuel imports from the European country. The revelations come after similar findings about Matrix Energy Group, another Nigerian company, also importing fuel from Malta. The situation has raised significant concerns, particularly after Aliko Dangote accused certain individuals within … Read more
THE President Bola Tinubu-led government plans to spend N6.8 trillion on fuel subsidies between August 2023 and December 2024, representing a 17-month period, according to documents. This is as the President, Bola Tinubu, approved that the Nigeria National Petroleum Company Limited (NNPCL) uses its dividends to offset subsidy bills. The NNPC had informed the president … Read more
THE Nigerian National Petroleum Company Limited (NNPCL) in 2021 noted that it spent N8.3billion every month to rehabilitate refineries. The company had stated this during a presentation to the Federation Accounts Allocation Committee. There are four refineries under the NNPC, they are the Port Harcourt refineries, Kaduna Refining Production Company, and the Warri Refining Production … Read more
THE Senate Committee on Public Accounts on Tuesday, took a swipe at managements of the Nigerian National Petroleum Company Limited (NNPCL) and other agencies. This is for their persistent refusal to respond to queries raised against them in the 2019 Audit report. Chairman of the committee, Sen. Ahmed Wadada (SDP-Nasarawa West) made this known while … Read more
President Bola Tinubu has directed the Nigerian National Petroleum Company Limited (NNPCL) to sell crude oil to Dangote Refinery and other upcoming refineries in Naira. Trojan News reports that Tinubu issued the directive during the Federal Executive Council meeting on Monday. The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, made this known in a statement … Read more
No oil marketer is going to buy Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery and sell at the prevalent pump prices at filling stations in Nigeria except the Nigerian National Petroleum Company Limited, operators in the downstream oil sector have declared. On July 15, 2024, The PUNCH reported that the … Read more
Mele Kyari, the Group Chief Executive of the Nigerian National Petroleum Corporation Limited (NNPCL) said something about a year ago. While answering questions on an Arise Television programme in June last year, Kyari dampened the spirits of his compatriots when he flatly declared that local refining of petroleum products was more or less, a waste … Read more