The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a significant downturn in its monthly profit after tax, plunging from an impressive ₦905 billion recorded in June 2025 to just ₦185 billion in July. This marks a steep 79.6 percent decline within a single month, raising concerns among industry watchers and economic analysts. According
Abuja, Nigeria — August 14, 2025 | The Nigerian National Petroleum Company Limited (NNPCL) has emerged victorious in its protracted legal battle with former federal lawmaker, Senator Ifeanyi Ararume, after a court dismissed his ₦5 billion damages claim. The dispute, rooted in Ararume’s removal as board chairman of NNPCL, had dragged on for months before
A coalition of industry stakeholders has lauded the leadership of Bayo Ojulari at the Nigerian National Petroleum Company Limited (NNPCL) for spearheading strategic reforms aimed at strengthening the country’s oil and gas industry. In a statement on Tuesday, the group described Ojulari’s tenure as a catalyst for operational efficiency, transparency, and innovation within the sector.
Fresh concerns over financial accountability have gripped the nation’s oil and gas sector as the Nigerian Senate has issued a strict three-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to provide satisfactory explanations regarding staggering audit queries amounting to over N210 trillion. The development follows revelations contained in multiple audit reports that exposed
Kogi, July 28, 2025 — The Nigerian National Petroleum Company Limited (NNPCL) has entered into a strategic partnership with Zuid Energy Limited for the development of a Liquefied Natural Gas (LNG) project valued at over 40 million standard cubic feet per day (mmscfd) in Kogi State. The collaboration, which was officially announced during a stakeholders’
The Federal Government came under intense fire over the weekend as the Nigerian National Petroleum Company Limited confirmed that the country’s long-dormant refineries in Port Harcourt, Warri, and Kaduna remain non-functional despite over 18 billion dollars invested in their rehabilitation. The statement, made by the new NNPCL boss, Bayo Ojulari, has sparked national outrage, with
As Nigeria’s Federal Government gears up for a comprehensive review of its refining assets in 2025, insiders at the Nigerian National Petroleum Company Limited (NNPCL) signal a potential move to sell its state-owned refineries in Warri, Port Harcourt, and Kaduna. This decision stems from persistent challenges tied to underperformance, massive capital expenditure, and a renewed
The Nigerian National Petroleum Company Limited (NNPC Ltd) has donated thirty-five (35) hybrid Compressed Natural Gas (CNG)-powered buses to the Presidential Initiative on Compressed Natural Gas (Pi-CNG), in a move aimed at accelerating Nigeria’s transition to cleaner, more sustainable fuel alternatives. At a symbolic handover ceremony held at the NNPC Towers in Abuja on Monday,
July, 2025 — The Nigerian National Petroleum Company Limited (NNPCL) has announced a downward review of the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦945 to ₦910 per litre. The price adjustment, which took effect on Friday, comes amid ongoing efforts by the Federal Government to cushion the impact of
The Nigerian National Petroleum Company Limited (NNPCL) has once again come under public scrutiny following its failure to honour an invitation from the Senate Committee on Public Accounts investigating financial discrepancies amounting to a staggering N210 trillion, reportedly uncovered in its audited financial reports spanning 2017 to 2023. Despite a formal summons, the NNPCL failed
