Tag: Mele Kyari

Forex Shortage: NNPCL now sole importer of petrol – GCEO, Kyari

Aminu Imam

The Nigerian National Petroleum Company Limited (NNPCL) has declared it is the sole importer of petrol in the country. The Group Chief Executive Officer (GCEO), Mele Kyari, disclosed this on Monday, during the ongoing Energy Labour Summit organised by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), in Abuja. Kyari said, “We are the only company importing premium motor spirit (PMS) into the country. None of them (oil companies) can do it today. For them, access to foreign exchange is difficult. We create foreign exchange (FX), therefore…

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‘Nigeria will become self-sufficient to become net exporter of petroleum products in 2024’ – GCEO NNPC, Kyari

Aminu Imam

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, projects that Nigeria will become a net exporter of petroleum products by next year. Speaking at the ‘PENGASSAN Energy and Labour Summit 2023‘ in Abuja yesterday, Kyari said, as a resource-dependent country, Nigeria should not be exporting 100 percent of its crude as it does at present. “Today, we export 100 percent of our productions, no resource-dependent country does this and that is why we must deliver on our mandate. I don’t want to…

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‘NNPCL 80% ready to become public company’ – Mele Kyari

Aminu Imam

…Says “We are now making money” Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has announced the company is 80 per cent ready for an Initial Public Offer(IPO). An IPO is an initial public offering. In an IPO, a privately owned company lists its shares on a stock exchange, making them available for purchase by the general public. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference, Kyari outlined NNPCL’s ambitions. The GCEO highlighted NNPCL’s transformation into a fully commercial model in…

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‘Mele Kyari secretly recruits 35 staff without approval from NNPCL Board’ – Source 

Aminu Imam

In continuation of his stronghold on the NNPC and its subsidiaries, its Chief Executive Officer, Mele Kyari has been accused of illegal recruitment of staff into the conglomerate in contravention of the due process for conducting recruitments into Ministries, Departments and Agencies (MDAs) as established by the Federal Government. According to multiple sources, Kyari is allegedly secretly recruiting people as staff without the approval of the Board of the NNPCL, adding that the recruitment was done between January and February 2023. It was gathered that the exercise was lopsided in…

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“Fuel demand down by 30%” – NNPC GMD, Kyari

Aminu Imam

Fuel demand has declined by 30 percent since President Bola Ahmed Tinubu announced the removal of fuel subsidies in May. Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, disclosed this at a media briefing yesterday, in Abuja. According to the GMD, who was seated beside the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the fall in fuel demand from approximately 66.7 million litres daily before the removal of subsidies to approximately 46 million today means a 30% reduction in NNPCL’s demand for foreign…

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NNPC: CSOs allege fresh plot by oil crooks to blackmail, smear Kyari

Aminu Imam

A coalition of Civil Society Organisations (CSOs) have said it has uncovered fresh plot by embittered oil thieves to blackmail, smear and tarnish the image of the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. The CSOs, consisting of 42 different organisations, said yesterday that the move by the oil thieves, whose businesses have been truncated by the recent stoppage of payment for fuel subsidy by the Federal Government and the total war declared by the Kyari-led NNPCL against oil theft and pipeline…

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Why petrol pump price increased to N617/litre — NNPCL

Aminu Imam

Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, (NNPCL), Mele Kyari, has explained that the rise in petrol pump prices in Nigeria is due to market forces. Recall that it had earlier been reported that the president Bola Tinubu-led federal government has increased the pump price of Petroleum Motor Spirit, popularly known as petrol. The increment followed the adjustment of fuel prices from N539 to N617 by filling stations in the Federal Capital Territory, (FCT) and other parts of the country. Speaking on the development, Mele Kyari,…

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NNPC restates plan to sell shares – Kyari

Aminu Imam

The Nigerian National Petroleum Company Limited (NNPC Ltd) has restated plans to issue its Initial Public Offer (IPO) to investors very soon. The Group Chief Executive Officer of NNPC Ltd, Mele Kyari disclosed this at the 22nd edition of the 2023 Nigeria Oil and Gas (NOG) Energy conference and Exhibtion on Tuesday in Abuja. The theme of the conference is: “Powering Nigeria’s Sustainable Energy Future”. Kyari, while speaking on:” Redefining Nigeria’s Energy Landscape for a Sustainable Energy Future’’, said the decision was based on the law. According to him, “As…

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NNPCL: “Ignore fake news, Kyari is still substantive GCEO” – Presidency

Aminu Imam

Contrary to speculations making the round that President Bola Tinubu has directed the suspension of Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Ltd, (NNPCL), there is no such directive from the President. According to Presidency sources yesterday, the President has not given such directive for the suspension of Kyari as NNPC Boss. Social media platforms were abuzz yesterday evening with several posts claiming the President had directed the immediate suspension of Kyari as NNPC GCEO. The social media posts of the purported…

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Fuel subsidy: FG owes NNPCL N2.8trillion – Mele Kyari

Aminu Imam

The Chief Executive of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, on Tuesday met with President Bola Tinubu at the Presidential Villa, Abuja, telling correspondents afterwards that the Federal Government is owing the company the sum of N2.8 trillion that it had already paid on petrol subsidy. He affirmed that the subsidy is no longer sustainable as it has made it impossible for the company to have funds to channel into its core businesses. The NNPCL Group CEO said, “Since the provision of the N6 trillion in 2022,…

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