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NNPC News

SERAP Sues NNPCL Over Alleged Failure to Account for ₦5.9bn Rebranding Expenditure

June 14, 2026

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited over its alleged failure to account for approximately ₦5.9 billion reportedly spent on the

Business News·Finance & Economy·News·Oil & Gas·Top Stories

NNPC Bets on Technical Equity Model to Revive Idle Refineries

May 5, 2026

Nigeria’s state oil firm, NNPC Limited, is pivoting to a new intervention strategy aimed at breaking a long cycle of failed refinery rehabilitation, following the signing of a Memorandum of Understanding with

News·Oil & Gas·Top Stories

NNPC Completes Key River Niger Crossing on OB3 Gas Pipeline

April 30, 2026

Nigeria’s state-owned oil company, NNPC Limited, has announced the successful completion of a major engineering milestone on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, with the crossing of the River Niger now fully achieved,

News·Oil & Gas·Top Stories

NNPC Ltd, Chevron Celebrate Major Hydrocarbon Discovery in Niger Delta

January 26, 2026

The Nigerian National Petroleum Company Limited (NNPC Ltd) has hailed Chevron Nigeria Limited (CNL) for the successful completion of the Awodi‑07 appraisal and exploration well in the shallow offshore western Niger Delta,

News·Nigeria·Oil & Gas·Top Stories

NNPC Sets 2026 Agenda After Record Oil Output

January 19, 2026

Nigeria’s state oil company, NNPC Limited, has reported record production and outlined plans to drive investment and operational efficiency in 2026. In a New Year address to staff, Group Chief Executive Officer

News·Top Stories

Obi Condemns NNPC Debt Write-Off, Warns of ‘Era of Financial Recklessness’

January 8, 2026

Former Anambra State Governor, Peter Obi, has criticised the Federal Government over the reported approval of a massive debt write-off for the Nigerian National Petroleum Company Limited (NNPC), describing it as a

News·Oil & Gas·Top Stories

Tinubu Clears $1.42bn, N5.57tn Legacy Debts Owed by NNPC

December 29, 2025

President Tinubu has given approval for the write-off of a significant portion of debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, amounting to about $1.42

Business News

NNPCL’s Revenue, PAT Drop In July

August 24, 2025

The Nigerian National Petroleum Company Limited (NNPCL) experienced a significant financial downturn in July 2025, with both revenue and profit after tax (PAT) declining sharply compared to the previous month. The

News

NNPC Boss Seeks Stakeholder Collaboration To Boost Production

August 21, 2025

Group Chief Executive Officer of the Nigeria National Petroleum Company (NNPC) Limited, Engr Bayo Ojulari, has called for stakeholder collaboration to unlock stranded assets and boost production across value chains in the

News

Nigeria’s Presidency Denies Forcing NNPC GCEO Ojulari To Resign

August 3, 2025

The Nigeria’s Presidency has denied alleged attempts to force Group Chief Executive Officer (GCEO) of Nigeria National Petroleum Company (NNPC) Limited, Bayo Ojulari, to sign his resignation letter. This rebuttal comes amid

Business News·Oil & Gas

PETROAN Urges Tinubu To Order Privatisation Of Port Harcourt Refinery

August 1, 2025

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has strongly criticized the Nigerian National Petroleum Company Limited (NNPCL) for reversing its earlier consideration to privatize the Port Harcourt Refining Company

News·Oil & Gas

Port Harcourt Refinery Not For Sale—NNPC

July 30, 2025

The Nigerian National Petroleum Company Limited (NNPC) has declared that the Port Harcourt Refinery is not for sale, reaffirming its commitment to completing rehabilitation of the plant. Group Chief Executive Officer (GCEO)

Business News·Oil & Gas·Top Stories

NNPC Revenue Drops By 23.9% Amid Global Oil Market Volatility

July 22, 2025

The Nigerian National Petroleum Company (NNPC) Limited reported a 23.9 per cent decline in oil revenue in June 2025, dropping to ₦4.57 trillion from ₦6 trillion in May. This marked the lowest revenue in three months. The drop was attributed to

Business News·Oil & Gas

Refinery Sale: NNPC Should Prioritise Competence, Expertise In Selecting Prospective Buyer – IPMAN

July 15, 2025

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has called on the relevant authorities to prioritise competence, and technical expertise in refinery operations while selecting prospective buyer of the Port Harcourt refinery,

Business News·News

NNPCL Shuts Down Port Harcourt Refinery For Maintenance

May 24, 2025

The Nigerian National Petroleum Company Limited (NNPCL) has announced a shutdown of the Port Harcourt Refining Company (PHRC), beginning Saturday, 24 May 2025. In a statement released Saturday by the Chief Corporate

FEATURES·Oil & Gas

Why Warri Refinery Remains Moribund After Millions Of Dollars Spent On Repair

April 30, 2025

Nigerians have expressed frustration as the Warri Refining and Petrochemical Company (WRPC) remains moribund despite the Federal Government spending millions of dollars on its rehabilitation. Former Group Chief Executive Officer of the

Business News·Oil & Gas

NNPCL Increases Petrol Price After Dangote Refinery

January 22, 2025

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, also known as petrol in its retail outlets. Checks by Prime Business Africa revealed that NNPCL

Business News·News·Oil & Gas

Competition Sets In As NNPCL, Like Dangote Refinery, Slashes Petrol Price

December 21, 2024

In what seems like an emerging competition in the downstream sector, the Nigeria National Petroleum Company Limited (NNPCL), has cut its ex-depot price of Premium Motor Spirit (PMS), also known as petrol

Politics

Labour Party: Obi Urges Calm, Meets With Otti, Usman, Others To Review Court Ruling Affirming Abure As Chairman

October 9, 2024

Presidential candidate of the Labour Party in 2023 election, Mr Peter Obi, has called on members of the party to remain calm as they are reviewing the recent developments, including the judgment

News

Reviving Brass, Olokola LNG Projects Will Boost Power Generation, Economy – NNPCL

September 20, 2024

The Nigeria National Petroleum Company Limited (NNPCL) has highlighted the benefits of the Brass and Olokola Liquefied Natural Gas (LNG) projects. According to the national oil company, the revival of the LNG

NNPC Refutes Viral Claims That Its Fuel Does Not Last

Business News·News·Oil & Gas

NNPCL Releases New Pump Prices Of Petrol, Sells ₦950 In Lagos, ₦1,019 In Borno

September 16, 2024

The Nigeria National Petroleum Company Limited (NNPCL), has released estimated pump prices of Premium Motor Spirit (PMS), also known as petrol, for September 2024 for its retail outlets, indicating variations across states

Business News·News·Oil & Gas

NNPCL Lifts Petrol From Dangote Refinery

September 15, 2024

The Nigerian National Petroleum Company Limited (NNPCL) began loading petrol from Dangote Refinery in Ibeju-Lekki, Lagos on Sunday. In a post on X, the company said: “NNPC begins PMS lifting at the

Dangote Refinery Targets 100% Evacuation Of Products Through Sea

Business News·News·Oil & Gas

NNPCL Deploys 300 Trucks To Load Petrol At Dangote Refinery

September 14, 2024

Few hours before the scheduled commencement of supply of petrol by Dangote Refinery in Ibeju-Lekki, Lagos, the Nigeria National Petroleum Company Limited (NNPCL), has deployed not less than 300 trucks to the

Business News·News·Oil & Gas

I’m Ready To Lose Money To Give Nigerians Cheap Fuel – Dangote

September 14, 2024

President of Dangote Group, Alhaji Aliko Dangote, has said he is ready to endure economic losses to ensure that Nigerians get cheap fuel supply. As part of the agreements reached with the

Dangote Refinery: Of Hopes, Drools And Jokes

Business News·Oil & Gas

NNPCL Will Be Sole Offtaker Of Dangote Refinery Petrol – Nigerian Govt

September 14, 2024

The Nigerian government has said all arrangements have been concluded for the sale of crude oil in naira to Dangote Refinery and other local refineries and also sale of refined petroleum products

Fuel Price Racketeering: Dangote Must Do More for Nigerians

Business News·Finance & Economy·News·Oil & Gas

Nigerians Accuse NNPCL Of Attempting To Hijack Dangote Refinery

September 13, 2024

Nigerians have reacted to the demand by the Nigeria National Petroleum Company Limited (NNPCL) to have a permanent presence at the Dangote Refinery in Lagos, as part of a proposed crude oil

Nigeria’s Energy Crisis: A Fuel Hike Or A Broken System?

Business News·News·Oil & Gas

Petrol Price Delay Sparks Concern Among Marketers As Import Costs Rise

September 10, 2024

Marketers Concerned Over Petrol Price Delay Oil marketers in Nigeria are growing anxious about the delay in announcing the price of Premium Motor Spirit (PMS), commonly known as petrol, produced by the

N15 Reduction Is Insignificant- Nigerians React As NNPCL Reduces Petrol Price To N945/ Litre

Business News·News·Oil & Gas

TUC Urges Special FX Rate For NNPCL To Cut Petrol Prices

September 10, 2024

TUC Calls for Special FX Rate to Reduce Petrol Prices The Trade Union Congress (TUC) has urged the Central Bank of Nigeria (CBN) and the Nigeria Customs Service (NCS) to implement a

Business News·News·Oil & Gas

Petrol Prices Influenced By Forex, Market Forces – NNPCL

September 6, 2024

The Nigerian National Petroleum Company Limited (NNPCL) has stated that foreign exchange (forex) crisis has been a significant factor influencing the changes in price of Premium Motor Spirit (PMS) in the country.

Opinion

NNPC: From Monopoly To Monopsony

September 6, 2024

Very few business organisations are as lucky as NNPCL, Nigeria’s state-owned oil company, founded over 50 years ago. Since its founding, the corporation has consistently failed to perform its basic functions and

Business News·FEATURES·Oil & Gas

How Strong Competitive Market Will Stabilise Fuel Price In Nigeria

As Nigerians grapple with scarcity and high price of fuel, it has been emphasised that only a fully deregulated market with perfect competition, would facilitate increased supply, and make the commodity stable and affordable in the country. With four major government-owned refineries

September 5, 2024

Business News·Markets·News·Oil & Gas

NNPCL’s $6.8 Billion Debt Crisis Sparks Calls for Urgent Privatisation

The Nigerian National Petroleum Company Limited (NNPCL) has found itself at the centre of a financial and operational crisis that has left Nigerians reeling from the consequences. The NNPCL, once hailed as Nigeria’s most valuable asset, is now being viewed by many

September 5, 2024

Business News·News·Oil & Gas

Lagos Residents Lament As High Fuel Price Triggers Transportation Chaos

Fuel prices have skyrocketed in Lagos, creating a scarcity that has disrupted daily life and led to an unprecedented increase in transportation costs. As filling stations across the city struggle to meet demand, residents are left grappling with the financial burden of

September 3, 2024

Business News·News·Oil & Gas

Our Refinery’s Capacity Will Meet Nigeria, Sub-Saharan Petrol Demands – Dangote

Aliko Dangote, the chairman of Dangote Group, has announced that the Dangote Refinery, with a capacity of 650,000 barrels per day, is set to satisfy the petrol demands in Nigeria and across the entire sub-Saharan region. This statement was made during a

September 3, 2024

Business News·News·Oil & Gas

Petrol Price To Hit N1,300, NNPC Faces Financial Strain

The price of petrol in Nigeria is on the verge of a significant increase, with estimates suggesting it could reach N1,300 per litre. This rise is attributed to the financial challenges faced by the Nigerian National Petroleum Company (NNPC) Limited, which is

September 3, 2024

Business News·News·Oil & Gas

NNPCL Admits Financial Strain Amid Rising PMS Supply Costs

NNPC Faces Financial Challenges Due to Rising Supply Costs NNPC Ltd. is facing significant financial pressure due to rising Premium Motor Spirit (PMS) supply costs. This situation is putting a strain on the company’s ability to maintain a stable fuel supply, raising

September 2, 2024

NNPCL Shuts Down Port Harcourt Refinery For Maintenance

News

NNPC Seeks Private Firms To Manage Kaduna, Warri Refineries

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it wants to engage credible private firms with capacity to operate and maintain the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company. NNPCL made this known in a

August 30, 2024

Business News·News·Oil & Gas

NNPCL Would Be Mini Aramco Today If Set Up Like NLNG – Expert

Financial analyst and educator, Kalu Aja, has asserted that the Nigeria National Petroleum Company Limited (NNPCL) could have become at least a mini ARAMCO if it was set up like the Nigeria Liquefied Natural Gas (NLNG) Limited. Aramco is the Saudi Arabian

August 27, 2024

Why 3 Million Barrels Of Oil Production Daily Is Achievable - NNPCL

Business News·News·Oil & Gas

NNPC Begins Gas Exports To Asia, Targets New Markets

NNPC Exports Gas to China and Japan The Nigeria National Petroleum Corporation (NNPC) Limited, has commenced the export of Liquefied Natural Gas (LNG), to the Asian markets of China and Japan, marking a significant milestone in its global energy strategy. This development,

August 27, 2024

Business News·News

NNPCL: Tinubu Has No Interest In OVH, Counters Atiku’s Hijack Claims

The Nigeria National Petroleum Company (NNPCL), has countered claims by former Vice President, Atiku Abubakar, that the company has been hijacked by cabals around President Bola Tinubu. The company also said neither the President nor Wale Tinubu has any interest in the

August 23, 2024

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