Tag: NNPC
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NNPC fails to stop Araraume’s N100bn case against unlawful removal as Board Chair
… as two SANs withdraw from proceedings, storm out of court …Judge fixes March 28 for judgment The newly-incorporated Nigeria National Petroleum Company (NNPC) Limited, on Monday, failed to halt hearing in a N100 billion suit instituted against President Muhammadu Buhari over alleged unlawful removal of Senator Ifeanyi Godwin Araraume as Board Chairman. The failure…
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FEC okays NNPC Ltd to invest N1.9trn in 44 federal roads
The Federal Executive Council(FEC) has approved the recommendation for the Nigerian National Petroleum Corporation Limited (NNPC LTD.) to invest 1.9 trillion in the reconstruction of 44 federal roads under the tax credit policy. The council gave the approval at its meeting presided over by Vice President Y
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NNPC set to spud first Oil Well in Nassarawa State
The Nigerian National Petroleum Company Limited (NNPC Ltd), is set to spud the first Oil Well in Nassarawa state in March 2023, in continuation of its oil exploration activities in the Country’s inland basins.
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SUBSIDY: How FG mandated reduction of petrol price- Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has revealed that the current price of Premium Motor Spirit, popularly called petrol, by the Nigerian National Petroleum Company Limited is based on the mandate from the Federal Government as regards PMS subsidy. Sylva remarks came as oil marketers stated that the supply hitches in…
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2023: Accord reveals illegal exco forced Kwankwaso, others exit
The frustrated alliance between the presidential candidate of the New Nigeria Political Congress Party (NNPC) -Musa Kwankwaso and other well meaning top politicians with the Accord Party(AP) was due to the illegitimate sit-tight exco of the party. This was revealed during a media chat with journalists in Awka, the Anambra State capital on Thursday by…
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Reps vow to probe, expose loss of $2.4bn alleged sale of 48m crude oil barrels
The House of Representatives has vowed to probe and expose the circumstances which led to the loss of over $2.4 billion revenue from the alleged illegal sale of 48 million barrels of crude oil exported in 2015. The House of Representatives ad-hoc committee investigating the “Alleged Loss Of Over $2.4bn From Illegal Crude Sales In…
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4 startling revelations that shook the oil sector in 2022
The Oil and Gas sector has remained the mainstay of the Nigerian economy despite Government’s best efforts at diversification into Agriculture and Mining in order to manage volatility and provide a more stable path for equitable growth and development. In 2022, Nigerians experienced the results of a supply shock with a tight oil supply and…
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2023 Elections: Kwankwaso pronounces APC, PDP dead politically
The presidential candidate of the New Nigeria Peoples Party (NNPP),Rabiu Kwankwaso has predicted the outcome of the forthcoming 2023 general elections in the country. Kwankwaso described the All Progressives Congress, APC, and Peoples Democratic Party, PDP, as dead political parties who have nothing to offer anymore.
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We’ve disbursed N15bn for Lagos-Badagry Expressway reconstruction – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disbursed N15 billion for the reconstruction of the Lagos Badagry Expressway under the Federal Government Road Infrastructure Tax Credit (RITC) Scheme. The N15 billion represents a 100 per cent payment
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Fuel queues: We have PMS stock of over 2 billion litres – NNPC
The Nigerian National Petroleum Company Limited (NNPC) has blamed the fuel queues in Lagos State and Abuja on some construction projects going on in the state.