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Tag: NNPC

  • Nigeria’s oil production nearing 1.7 million barrels per day – NNPC boss, Kyari

    Nigeria’s oil production nearing 1.7 million barrels per day – NNPC boss, Kyari

    Mele Kyari the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, has said that Nigeria’s Crude oil production is nearing 1.7 million barrels per day.

    The NNPC boss made this known in his address as a stakeholder at an engagement between the Nigerian Association of Petroleum Explorationists and the NNPCL in Lagos.

    Kyari noted that the, the 1.7 million barrels per day was a boost from 1.28 million barrels reported in April.

    According to him, the nation’s crude oil production keeps dropping due to oil theft and vandalism, emphasising the need to fight insecurity in the oil and gas sector to increase production.

    “How do you increase oil production? Remove the security challenge we have in our onshore assets. As we all know, the security challenge is real. It is not just about theft, it is about the availability of the infrastructure to deliver the volume to the market.

  • Fuel Scarcity: Man shot dead for trying to prevent military officers from buying petrol at filling station

    Fuel Scarcity: Man shot dead for trying to prevent military officers from buying petrol at filling station

    The  Eniasa  family is at the moment mourning the death of one of their sons, Toheeb Eniasa who was shot dead by men suspected to be personnel of the Department of State Services at a petrol station belonging to the Nigerian National Petroleum Company Limited at Obalende in the Ikoyi area of  Lagos State.

    It was gathered that the incident, happened late Wednesday and has left residents in the area in fear.

    Trouble started when residents of Obalende gathered at the NNPC filling station to queue for fuel late Wednesday evening.

    While in the queue, two men, believed to be military officers, attempted to drive into the station to buy petrol even though they were not in the queue to get the product.

    Their fight to jump the queue to buy fuel met  stiff resistance from people in the queue; many of whom had been waiting for hours.

    Several eyewitnesses confirmed that Eniasa spearheaded the argument, telling the men to join the queue like everyone else.

    This further degenerated into a fisticuff and the eventual death of the young man after one of the men shot him and fled the scene. One of the eyewitnesses told newsmen.

    Nigerians have been struggling to buy fuel in the last few days.

    The scarcity has led to an increase in transport fares and queues at various filling stations selling the product

    A resident, who gave his name as Mr. Amos Ayo, who said he witnessed the incident, alleged that the officers were from the Department of State Services as they had their branded polo shirts.

    Ayo narrated, “I saw them. They are men of the DSS. They came to the scene to buy fuel but refused to join the queue.

    “That is what they always do. It was not Toheeb’s turn yet but he confronted them, asking them to join the queue or be polite about the way they went about the purchase.

    “One of them was so impatient. He slapped Toheeb and he retaliated with more words. Before we could know it, we heard gunshots and Toheeb fell to the ground.”

    A woman who said she was clearing up her alcoholic bitters stand close to the station but refused to give her name for security reasons, told our correspondent that she heard the gunshot at about 9.30 p.m. and fled the scene.

    She said, “I did not even wait to see what was happening. I ran as fast as I could before any stray bullet will hit me. But, I heard from the people who were there that it was two soldiers.

    “They are not policemen. One shot the young man and ran away. I learnt they caught one but he still managed to escape eventually.”

    Also speaking, a young man who gave his name as Capo told newsmen that he knew the deceased.

    “This place (Obalende) is a very small place. Everybody knows everybody. Toheeb stays in the Dolphin Estate area. He is a Muslim. He is supposed to be buried today but his body has been taken by the police to the morgue for investigation and possibly autopsy,” he said.

    Asked whether he was at the scene of the crime, Capo said, “Of course, I was there. I saw it with my own eyes. We were the ones who pursued the men that did the crime but one of them shot his gun in the air and people ran away. That was the way he could escape.

    “One hid under a bus so we set it on fire. He also ran away. We initially thought they were policemen but they are not. I can tell you that for free. Just imagine how they have taken the life of that young man now for nothing.”

  • Cause of fuel queues resolved – NNPC

    Cause of fuel queues resolved – NNPC

    The Nigerian National Petroleum Company Limited (NNPC Ltd.) says the issues that led to the  tightness in the supply of fuel currently being experienced in some parts of the country have been resolved.

    The NNPC Ltd. said that the issues were as a result of logistics problems.

    The Chief Corporate Communications Officer, NNPC Ltd. Olufemi Soneye, made the disclosure on Thursday while reacting to the situation.

    Soneye reiterated that the prices of petroleum products were not changing.

    “The NNPC Ltd. wishes to clarify that the tightness in the supply of PMS currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.

    “The NNPC Ltd. urges Nigerians to avoid panic buying as there is a sufficiency of products in the country,” he assured.

    Motorists in the Federal Capital Territory (FCT), have expressed worry over the long queues being presently experienced at fuel stations due to scarcity of PMS.

    The independent marketers sell between N680 and N800 per litre, while the NNPC Ltd. retail outlets maintain its pump price of N617 per litre.

    The black marketers are also seen along the roads and in front of fuel stations making brisk business, selling above N1, 000 per litre of fuel.

    Some of the motorists have expressed sadness at the inconsistency and unavailability of fuel and its associated high price in the country and appealed to the Federal Government to urgently resolve whatever the issues were.

  • JUST IN: Ganduje remains our National Chairman, says APC NWC

    JUST IN: Ganduje remains our National Chairman, says APC NWC

    The National Working Committee (NWC) of the All Progressives Congress (APC) has finally reacted to the alleged suspension of its National Chairman, Abdulahi Umar Ganduje by his ward executive committee.

    The party’s highest administrative organ, the NWC dismissed the purported suspension as fake news.

    A statement by the APC national publicity secretary, Felix Morka, in Abuja on Tuesday, April 16, alleged that the purported suspension was procured by devious officials of the ruling New Nigeria Peoples Party (NNPP) in Kano.

    Irked by the development, the party has petitioned the Inspector General of Police demanding an investigation into the purported suspension.

    The statement read: “The attention of the All Progressives Congress (APC) has been drawn to media reports of the purported suspension of the National Chairman, HE Abdullahi Umar Ganduje, CON, from the Party by the Executive Committee of the Ganduje Ward in the Dawakin Tofa local government area of Kano state.

    “The purported suspension was the devious act of a group of impersonators of Ward officials out to cause mischief and create confusion in the otherwise peaceful Ganduje Ward chapter of our Party. The perpetrators of this criminal act are not card-carrying members of APC in the Ward but are individuals affiliated with senior officials and representatives of the New Nigeria People Party (NNPP).

    “This act procured by officials of the ruling NNPP in Kano is part of the despicable program of political persecution launched by the administration of Governor Abba Kabir Yusuf against  Ganduje, a former Governor of Kano state.

    “The purported suspension is downright criminal, and of no effect whatsoever. The legitimate Executive Committee of the Ganduje Ward has since denounced the action and reaffirmed Dr. Ganduje as a bonafide member of the Party in the Ward, and in good standing.”

    Determined to unearth the mastermind behind the suspension, Morka said: “The Party has filed a petition with the Inspector General of Police requesting an expedited investigation of this matter and that the perpetrators and their sponsors be brought to justice.”

    He then urged party faithful and the general public to disregard reports of the suspension of the national chairman “who is and remains, the national chairman of our great Party,” Morka concluded.

     

  • BREAKING: NNPC breaks silence on reported price reduction for petrol, diesel

    BREAKING: NNPC breaks silence on reported price reduction for petrol, diesel

    The Nigerian National Petroleum Corporation (NNPC) Limited has said there is no price reduction for Premium Motor Spirit (PMS) aka petrol and Automotive Gas Oil (AGO) aka diesel.

    TheNewsGuru.com (TNG) reports NNPC Limited made this known in a statement released on Wednesday by Olufemi Soneye, Chief Corporate Communications Officer.

    “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

    “The company asserts that these reports are false and urges Nigerians to disregard them entirely.

    “NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” the statement reads.

  • Port Harcourt refinery to resume production end of March – Kyari

    Port Harcourt refinery to resume production end of March – Kyari

    The Group Chief Executive Officer, Nigerian National Petroleum Corporation Ltd (NNPCL), Mr Mele Kyari, on Thursday said  the Port Harcourt refinery would begin production by end of March.

    Kyari said this after a meeting with the Senate Ad-hoc Committee, investigating the various Turn Around Maintenance (TAM) projects of Nigerian refineries.

    “In the next two weeks, production will start, we did mechanical completion of Port Harcourt, that was what we said in Dec 2023.

    “That means we are done with our rehabilitation work, now you are to test if this completion is okay,” he said

    On Warri refinery, Kyari said mechanical works had been completed, adding that the facility  was undergoing the regulatory compliance processes.

    He, however, said Kaduna would not be  ready until  December.

    Kyari said that all the crude lines were active, adding that over 450,000 barrels had been delivered into Port Harcourt refinery.

    “Yes, there may be security issues, but also government is responding to the situation.

    “We are happy to work with the committee and promise not to hide anything from them,” Kyari said.

    Chairman of the Ad-hoc Committee, Sen. Ifeanyi Uba (APC -Anambra), said the committee was satisfied with the information from NNPCL.

    Ubah said the committee had an understanding of when to go for oversight function of the refineries.

    “I believe everything is positively on track.

    “We want the refineries to work and we have gotten firm promise from NNPCL on when they will begin operation.

    “The next step is to visit the refineries and assess the progress,” he said.

    The committee will meet with Kyari on March 19, on issues relating to crude oil theft.

  • SERAP gives NNPCL 7 days to account for ‘missing $2.04bn, N164bn oil revenues’

    SERAP gives NNPCL 7 days to account for ‘missing $2.04bn, N164bn oil revenues’

    Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Mele Kolo Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited to “promptly account for and explain the whereabouts of the alleged missing USD$2.04 billion and N164 billion oil revenues.”

    SERAP said the allegations are documented in the latest annual report recently published by the Auditor-General of the Federation.

    SERAP urged Mr Kyari “to name and shame those responsible for the disappeared oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies, as provided for under paragraph 3112(ii) of the Financial Regulations 2009, and recommended by the Auditor-General.”

    SERAP also urged him “to ensure the full recovery and remittance of the missing USD$2.04 billion and N164 billion into the Federation Account without further delay.”

    In the letter dated 17 February 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “The missing oil revenues have further damaged the already precarious economy in the country and contributed to very high levels of deficit spending by the government.”

    SERAP said, “Without the full recovery and remittance of the missing USD$2.04 billion and N164 billion oil revenues, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services.”

    According to SERAP, “the Auditor-General has for many years documented reports of disappearance of public funds from the NNPC. Nigerians continue to bear the brunt of these missing oil revenues.”

    The letter, read in part: “The alleged missing oil revenues reflect a failure of NNPCL accountability more generally and are directly linked to the institution’s continuing failure to uphold the principles of transparency and accountability.”

    “We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.”

    “Had the NNPCL and its subsidiaries accounted for and remitted the disappeared public funds into the Federation Account, it is likely that more funds would have been allocated to the fulfillment of economic and social rights, such as increased spending on public goods and services.”

    “The missing oil revenues have also impeded Nigerians’ ability to enjoy their economic and social rights, and denied them access to essential public goods and services, especially at the time of cost of living crisis in the country.”

    “Explaining the whereabouts of the missing public funds, naming and shaming those suspected to be responsible and ensuring that suspected perpetrators are brought to justice and the full recovery of any missing public funds would serve the public interest and end the impunity of perpetrators.”

    “Nigerians have the right to know the whereabouts of the disappeared oil money. Ensuring transparency and accountability in the management of oil revenues would advance the right of Nigerians to restitution, compensation and guarantee of non-repetition.”

    “According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion oil revenues into the Federation Account.”

    “The Auditor-General fears that the money may have been diverted into private pockets, denying the government the funding needed to carry out its activities.”

    “The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL without any justification deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources (DPR) now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).”

    “The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.”

    “The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue into the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.”

    “The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.”

    “The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.”

    “These grim allegations by the Auditor-General suggest a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s obligations under the UN Convention against Corruption.”

    “The allegations have undermined the economic development of the country, trapped the majority of Nigerians in poverty and deprived them of opportunities.”

    “SERAP is concerned that despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the entrenched culture of impunity of perpetrators.”

    “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”

    “SERAP notes that Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions to abolish all corrupt practices and abuse of power.”

    “Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”

    “Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.”

    “Paragraph 3112(ii) of the he Financial Regulations 2009 provides that, ‘Where a public officer fails to account for government revenue, such officer shall be surcharged for the full amount involved and such officer shall be handled over to either the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC).’”

    “Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”

  • NNPC Limited records highest profit since inception in 1977

    NNPC Limited records highest profit since inception in 1977

    The Nigerian National Petroleum Company (NNPC) Limited says it has recorded its highest profit since its inception in 1977.

    TheNewsGuru.com (TNG) reports NNPC Limited says it recorded a profit of N2.548 trillion in 2022 in its Financial Performance Report for the year posted online.

    NNPC disclosed in the financial report that it recorded a loss of N803 billion in 2018 and N1.7 billion loss in 2019.

    According to the report, 2020 recorded N287 billion profit which it tagged ‘’Turning Point’’ while in 2021, the company’s profit continued to grow to N674.1 billion tagged ‘’Assurance’’.

    The report stated that the profit which continued to rise up to N2.548 trillion in 2022.

    The NNPC Ltd had between Dec. 30, 2023 and Jan. 5, 2024 recorded 157 incidents of crude oil theft from seven incident sources and arrested 17 suspects.

    The sources included the Nigeria Agip Oil Company, Pipeline Infrastructure Nigeria Ltd, Maton Engineering Ltd, Tantita Security Service Ltd, Shell Petroleum Development Company (SPDC), NNPC Command and Control centre and Government Security Agencies.

    Its report stated that in the past week, 52 illegal refineries were discovered and destroyed in Abia, Imo, Rivers and Bayelsa states while 32 illegal connections were uncovered in several parts of the Niger Delta.

    They were removed and repaired along central corridor in the Niger Delta while seven illegal storage sites were uncovered in AkwaIbom state and buried crude drums unearthed in bushes in Bayelsa and Warri, Delta.

    The company said there was no backing down on the menace until it was eradicated.

  • Alleged plan to increase fuel to N1200: NNPC insists nothing of sort for now

    Alleged plan to increase fuel to N1200: NNPC insists nothing of sort for now

    The Nigerian National Petroleum Company (NNPC) Limited has reacted to a media report alleging fresh plans to increase the price of petrol to N1,200 per litre.

    Social media networks, on Wednesday, have been awash with rumours of a new increase in the price of fuel across the country.

    Reacting to the rumour, which has continued to generate mixed reactions amid the harsh economic conditions of the country, the NNPC says there are no plans to hike the price of fuel.

    This was contained in the company’s rejoinder to a media report that petrol should now cost N1,200 per litre owing to exit from the under-recovery of the fuel cost.

    The short rejoinder that NNPC, Group Communications, Officer, Olufemi Soneye issued today reads:

    “NNPC Ltd emphasises it has not clashed with any party. The Punch headline is deemed unfortunate. The publication sought confirmation on the alleged subsidy reduction, to which NNPC responded that the subsidy has been entirely removed.”

  • SERAP sues NNPC over failure to account for Nigeria’s daily oil production, revenues

    SERAP sues NNPC over failure to account for Nigeria’s daily oil production, revenues

    Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over the “failure to disclose details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.”

    Former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, had recently alleged that “the NNPCL is failing to remit enough foreign exchange into the treasury despite the removal of fuel subsidy,” asking: “Where is the money?”.

    In the suit number FHC/ABJ/CS/1719/2023 filed last Friday at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel the NNPC to disclose details of barrels of oil Nigeria produces and exports daily and the total amounts of revenues generated since the removal of subsidy on petrol.”

    SERAP is seeking: “an order of mandamus to compel the NNPC to disclose how much of the revenues generated from the production and exportation of oil have been remitted to the public treasury since the removal of subsidy on petrol.”

    SERAP is also seeking: “an order of mandamus to direct and compel the NNPC to disclose details of payment of 11 Trillion Naira made as subsidy payments from 1999 to May 2023, including a detailed breakdown of the payments made.”

    In the suit, SERAP is arguing that: “There is a legitimate public interest in disclosing the information sought. The NNPC has a legal responsibility to disclose the details of Nigeria’s daily oil production, exportation and the revenues generated and remitted.”

    SERAP is also arguing that, “Nigerians have the right to know the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury.” Compelling the NNPC to disclose these details would promote transparency and accountability in the oil sector.”

    According to SERAP, “The failure by the NNPC to disclose the information sought is a grave violation of the provisions of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the country’s obligations under the African Charter on Human and Peoples’ Rights.”

    SERAP is arguing that, “Transparency would ensure that the revenues generated from Nigeria’s daily oil production and exportation are not diverted into private pockets, and increase public confidence that the revenues would be used to benefit Nigerians.”

    The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Andrew Nwankwo, read in part: “Nigeria’s daily oil production, exportation and the revenues generated have been mostly shrouded in secrecy.”

    “Disclosing the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would also ensure that the NNPC operates within the law.”

    “Transparency and accountability in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would improve the enjoyment by Nigerians of their right to natural wealth and resources.”

    “The public interest in publishing the information sought outweighs any considerations to withhold the information.”

    “Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators.”

    “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.”

    “Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions and officials to abolish all corrupt practices and abuse of power. Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed to serve the common good.’”

    “Section 13 of the Nigerian Constitution 1999 imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution.”

    “Nigeria has made legally binding commitments under the UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to ensure transparency and accountability in the management of public resources.”

    “Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected.”

    “Nigerians are entitled to the right to receive information without any interference or distortion, and the enjoyment of this right should be based on the principle of maximum disclosure, and a presumption that all information is accessible subject only to a narrow system of exceptions.”

    “By Section 1 (1) of the Freedom of Information (FoI) Act 2011, SERAP is entitled as of right to request for or gain access to information, including information on the details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated and remitted to the public treasury.”

    “The Freedom of Information Act, Section 39 of the Nigerian Constitution, and article 9 of the African Charter on Human and Peoples’ Rights guarantee to everyone the right to information, including the details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated and remitted to the public treasury.”

    “By the combined reading of the provisions of the Nigerian Constitution, the Freedom of Information Act and the African Charter on Human and Peoples’ Rights, there are transparency obligations imposed on the NNPCL to publish the details sought.”

    “The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their public institutions’ activities.”

    “The NNPCL has failed to disclose the amounts of barrels of oil the country produces and exports. The NNPCL has also reportedly failed to publish details of revenues generated from the production and exportation of oil and the amounts of revenues remitted to the public treasury as required by Nigerian laws.”

    “According to the former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, ‘It is only the NNPCL that can give the figures about how much oil we produce daily, how much we sell, and where the money is going. We are no longer paying subsidies so where are the dollars? Where is the money?’”

    “The NNPCL has a legal responsibility to promote transparency and accountability in the country’s daily oil production, exportation and the revenues generated and remitted to the public treasury. The NNPLC also has a legal responsibility to disclose details of payment of N11 trillion subsidy.”

    No date has been fixed for the hearing of the suit.