Nigerian National Petroleum Corporation Archives

NNPCL appoints Olufemi Soneye as Chief Corporate Communications Officer

October 19, 2023October 19, 2023 Aminu Imam

Aminu Imam The Nigerian National Petroleum Company Limited has announced the appointment of a Chief Corporate Communications Officer; Olufemi Oladapo Soneye.� The company made the announcement through an October 18 statement signed by the management team. In the statement, the company said the decision to appoint Mr. Soneye is in line with the company�s brand penetration. The official statement reads:�We are delighted to announce the appointment of Olufemi Oladapo Soneye as our Chief Corporate Communications Officer. “Mr. Soneye, a seasoned journalist with full-time and freelance experiences at some of…

House of Reps to investigate NNPC�s failure to remit N2tr to nation’s Treasury

July 25, 2023July 25, 2023 Aminu Imam

Federal lawmakers in the House of Representatives have initiated investigation of the Nigerian National Petroleum Company (NNPC) for intentionally withholding N2 trillion of public funds generated as oil revenue during the Muhammadu Buhari administration. Recall that under Buhari � nearly all ministries, departments, and agencies (MDAs), like the NNPC � behaved as though they were quasi-governments operating on their own, with each head acting like a president who was not accountable to anyone. For instance, NNPC Chief Executive Mele Kyari refused to answer several audit queries issued by the federal…

NNPC restates plan to sell shares � Kyari

July 13, 2023July 13, 2023 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…

NNPCL confirms petrol price increment

June 1, 2023June 1, 2023 Aminu Imam

�Announces new fuel price across States The Nigerian National Petrol Company Limited, (NNPCL) yesterday confirmed the upward review of pump prices of Premium Motor Spirit, (PMS), popularly known as petrol, across the country. Less than 24 hours after President Bola Tinubu declared an end to fuel subsidy, the pump price of petrol ballooned to N600 per litre from N195/l in many parts of the country. Consequently, there was a 100 percent hike in transport fares, while long queues resurfaced at fuel stations across Lagos, Abuja, Kaduna, Ilorin, Benin, Asaba, Port…

NNPCL spends N400bn monthly on petrol subsidy amid fuel scarcity

February 17, 2023February 17, 2023 Aminu Imam

The Nigerian National Petroleum Company Limited (NNPCL) has said about N400 billion is spent to subsidize petrol every month, amounting to about N202 subsidy per litre. This is despite the prevailing scarcity of petroleum products which has shot up the price to as much as N350 per litre in many parts of the country. The Group Chief Executive Officer of the NNPCL, Malam Mele Kyari, disclosed the subsidy payment at the final cut-over ceremony of NNPC and the birth of NNPCL at the corporation�s towers in Abuja yesterday. Kyari explained…

NNPC discovers oil in Nasarawa State

January 14, 2023January 14, 2023 Aminu Imam

…Drilling starts in March The Nigerian National Petroleum Company Limited, (NNPCL), has announced the discovery of oil in Nasarawa State. The corporation also stated that it’s prepared to drill the first foot of an oil well in the North-Central State. With this development, Nasarawa becomes the third State in Northern Nigeria where oil has been discovered in commercial quantity. The announcement was made by the NNPCL�s Group Managing Director, (GMD), Mele Kyari, when he received a delegation comprising Nasarawa State, Abdullahi Sule, and prominent indigenes of the State on a…

Academics take stand on NNPC, says company now liability to Nigeria

October 22, 2022October 22, 2022 Aminu Imam

Apparently worried about the increasing expenditure of Nigerian National Petroleum Company (NNPC) Limited, group of lecturers under aegis of Academics for Accountable Governance Group, (AAGG), has declared as unacceptable the situation where whopping amount of N788bn was allegedly spent on salaries; Forex, entertainment, and other expenses. It also challenged the NNPC to explain to Nigerians how it made a net profit of N674bn and spent N788.7 billion on salary, entertainment and other costs. According to the group, there is no place in the world where a major oil and gas…

“New NNPC will sell fuel at price dictated by FG” -�Kyari assures

July 21, 2022July 21, 2022 Aminu Imam

The Nigerian National Petroleum Company (NNPC) Ltd says it will do business at the price dictated by the federal government and promised to publicly declare its asset base soon. According to its CEO Mele Kyari, by the middle of 2023, NNPC would have systems, processes, lines of profitability and accountability to stakeholders. On subsidy, he said the NNPC Limited had no issue with it, rather it would be an issue of the state. �Whatever is the decision and policy of the state, the NNPC is there to deliver commercial value…

NNPC officially transits to commercial entity, unveils new logo

July 20, 2022July 20, 2022 Aminu Imam

The Nigerian National Petroleum Corporation (NNPC) has transited fully into a commercial entity, becoming the Nigerian National Petroleum Company Limited. President Muhammadu Buhari officially unveiled the new Nigerian National Petroleum Company Ltd. in Abuja yesterday, in line with the provisions of the Petroleum Industry Act (PIA) 2021, affirming that the company is mandated by law to ensure that Nigeria�s National Energy Security is guaranteed. Speaking at the unveiling, Buhari said, �The provisions of PIA 2021 have given the Nigerian petroleum industry a new impetus, with an improved fiscal framework, transparent…

New NNPC Limited will not tie subsidy, petrol price to operations, says Mele Kyari�

July 19, 2022July 19, 2022 Aminu Imam

The Nigerian National Petroleum Company Limited, (NNPC), says it will ensure the provision of petroleum products to the Federal Government. The Group Managing Director, NNPC Ltd, Mele Kyari disclosed this during a pre-recorded television interview at the weekend ahead of today, Tuesday�s unveiling of NNPC Limited as a commercial entity. Recall that in September 2021, the Corporate Affairs Commission (CAC) completed the incorporation of the NNPC Ltd. He emphasised that NNPC would be a service provider to the government rather than bearing the responsibility for importation and subsidy. In the…