Tag: Nigerian National Petroleum Corporation

NNPC spent $1.56bn to repair moribund P’Harcourt refinery – NNPC GMD

Aminu Imam

The House of Representatives Ad-Hoc Committee on the state of Nigerian refineries was told yesterday that a total of $1.555 billion, (roughly N646.34 trillion), was budgeted for the overhauling of just the Port-Harcourt refinery. The Group Managing Director, (GMD) of the Nigerian National Petroleum Company, (NNPC) limited, Mele Kyari, made the disclosure while being grilled by the panel over the total contract sum for rehabilitating the nation’s refineries. At the resumed hearing of the committee, chaired by Hon. Abdulganiyu Johnson to determine the actual cost of monies spent so far…

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‘Resign!; 25 civil society groups urge NNPC GMD, Kyari, Farouk Ahmed over lingering fuel crisis

Aminu Imam

No fewer than twenty-five civil society organisations (CSOs) of northern extraction under a coalition of ‘Concerned Northern Forum’ yesterday called for the resignations of the Group Managing Director of the Nigerian National Petroleum Corporation Ltd, (NNPC), Mele Kyari, and the CEO of the Nigeria Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed, over the lingering fuel crisis being experienced across the nation. Recall that the country has for the past three weeks been thrown into fuel scarcity due to imported adulterated fuel, causing long queues at petrol-filling stations.…

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NNPC apologises to Nigerians over toxic petrol

Aminu Imam

…Says fuel scarcity to end soon The Group Managing Director of the NNPC Limited, Mele Kyari, has apologised to Nigerians over the importation of toxic fuel, which caused the current scarcity of Premium Motor Spirit (PMS), otherwise known as petrol, across major cities in the country. Kyari, who appeared before the House of Representatives Committee on Petroleum Resources Downstream investigating the importation of adulterated fuel, said the NNPC was not aware of the presence of methanol in the fuel imported. He said the loading terminal where the fuel was brought…

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NNPC expends N83.33bn on dormant refineries in 10 months

Aminu Imam

…Amount exceeds pipeline security costs by N18bn The Nigerian National Petroleum Company, (NNPC) Limited, spent N83.33 billion on the country’s non-functional petroleum refineries in the first 10 months of 2021, according to the latest data from the national oil company. Documents from the NNPC on its November operations further revealed that the company had so far exceeded its budget for the security and maintenance of its pipelines by N18.025 billion as of October this year. The data on the company’s performance from January to October indicated that besides petrol subsidy,…

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NNPC unable to account for over N2tr worth of crude oil lifted – Report

Aminu Imam

The Auditor-General of the Federation has raised an alarm on domestic crude oil lifted by the Nigerian National Petroleum Corporation (NNPC) and not accounted for in 2019. Recall that the Federal Government’s 2019 Budget of N8.83 trillion was largely financed by debts, which currently stands at N35.5 trillion as of June 30. According to a report conducted by an organisation, “Dataphyte’, using NNPC-NAPIMS audited annual report and the latest audit report, the Nigerian National Petroleum Corporation, (NNPC), reportedly failed to account for 104.48 million barrels of domestic crude oil it…

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NNPC allays fear over fuel scarcity

Aminu Imam

The Nigerian National Petroleum Corporation, (NNPC) has allayed fears of any hitch in petroleum products supply following reports of resurgence of queues in some parts of the country. The NNPC Group Managing Director, Mele Kyari, gave the assurance while speaking at the Association of Energy Correspondents of Nigeria, (NAEC)’s ‘2021 Strategic International Conference’, yesterday, in Lagos. The conference had as its theme: ‘Petroleum Industry Act: Energy Transition and the Future of Nigeria’s Oil and Gas’. Kyari said NNPC’s objective was to provide energy security for Nigeria and ensure availability of…

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NNPC pleads with Petroleum Tanker Drivers not to embark on planned strike

Aminu Imam

The Nigerian National Petroleum Corporation, (NNPC), on Sunday called on Petroleum Tanker Drivers to, in the interest and welfare of the Nigerian people, call off its planned strike action. According to a press statement issued by the Corporation and signed by its Group General Manager, Group Public Affairs Division, Garba Deen Muhammad, noted that the strike is about the condition of roads in various parts of Nigeria which are used for the distribution of goods and services including petroleum products. The statement further stated that even though it is not…

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Just In: NNPC GMD, Borno Governor, flag-off Maiduguri Emergency Power Project

Aminu Imam

Hassan Umar Farouk The Group Managing Director of the Nigerian National Petroleum Corporation,(NNPC), Mallam Mele Kyari has joined the Governor of Borno State, Prof. Babagana Umara Zulum, to perform the Groundbreaking Ceremony of the Maiduguri & Environs Emergency Power Project, (MEPP). The ceremony will officially mark the commencement of the construction of a 50-megawatt gas turbine power plant expected to generate electricity to the city of Maiduguri, Borno State, and environs. The MEPP is a Federal Government intervention strategy in tackling the perpetual power outage in Maiduguri, caused mostly as…

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Buhari authorises incorporation of NNPC as limited liability coy.

Aminu Imam

…Appoints Board members…Sen. Ararume heads Board President Muhammadu Buhari authorises the incorporation of the Nigerian National Petroleum Company Limited. According to an issued statement by his Special Adviser on Media and Publicity, Femi Adesina, the move was in accordance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister to cause the incorporation of the NNPC Limited within six months of the Act’s commencement. The announcement stated that this was done in cooperation with the Minister of Finance about the Company’s nominal shares. The Group Managing Director…

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‘Despite producing zero fuel, NNPC refineries’ directors, workers get N252.8bn in 3yrs’

Aminu Imam

Workers and directors at the Nigerian National Petroleum Corporation’s (NNPC’s) three refineries in the last three years were paid N252.8 billion in salaries and other emoluments. This is according to data collated from most recent 2020 audited financial statements released by the Corporation. The refineries, which are located at Port Harcourt, Kaduna, and Warri, with a total installed capacity of 445,000 barrels per day, have not been able to produce a single drop of fuel in recent years. However, in the last three years employees earned N250.3 billion in wages,…

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