• President Buhari demands transparency from Boards of NNPC, NCDMB, NNRA

    President Buhari demands transparency from Boards of NNPC, NCDMB, NNRA

    President Muhammadu Buhari yesterday inaugurated the boards of the Nigerian National Petroleum Corporation (NNPC), Nigerian Content Development Monitoring Board (NCDMB) and the Nigeria Nuclear Regulatory Authority (NNRA), with a call on the board members to uphold transparency in the management of ‎the organizations.

    He also asked them to come up with new ways to overcome the present economic challenges.

    Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, will chair the boards of the agencies under his ministry.

    In a short remark, […]

  • President Buhari Inaugurates Boards Of NNPC, NCDMB, NNRA

    President Buhari Inaugurates Boards Of NNPC, NCDMB, NNRA

    President Muhammadu Buhari on Friday challenged members of the newly inaugurated boards in the Ministry of Petroleum Resources to ensure decency and transparency in the management of the nation’s oil industry.

    The inaugurated boards included the Nigerian National Petroleum Corporation (NNPC), Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Nuclear Regulatory Authority (NNRA).

    Buhari specifically tasked the new boards to ensure that they devise practical strategies aimed at tackling current challenges within the oil industry.

    He said the boards, which would be […]

  • NUPENG rejects sale of NNPC assets

    NUPENG rejects sale of NNPC assets

    According to reports, the Nigeria Union of Petroleum and Natural Gas Workers says it will not support the sale of NNPC’s assets without proper consultation with labour unions in the petroleum sector.

    Alhaji Tokunbo Korodo, the South-West Chairman of the union, made the declaration on Tuesday in Lagos.

    The oil workers had on November 13 declared that they would reject any attempt by the Federal Government to sell some of its stakes in the NNPC.

    The Federal Ministry of Petroleum Resources released a […]

  • NNPC boss removes Deen as spokesman, scraps unit set up by Kachikwu

    NNPC boss removes Deen as spokesman, scraps unit set up by Kachikwu

    According to reports, the Nigerian National Petroleum Corporation (NNPC) has effected a major shake-up within the organization.

    About 109 Management staff were promoted, while 24 were redeployment.

    The shake-up saw the return of veteran journalist, Ndu Ughamadu as Group General Manager, Group Public Affairs Division. He takes over from Garba Deen Muhammad, who recently denied reports that NNPC was planning to increase fuel pump price.

    Ughamadu was NNPC’s Group General Manager (GGM) Government and Labour Relations before his new appointment.

    He served as the […]

  • FG to scrap NNPC, DPR, PPPRA, others; to sell unprofitable refineries

    FG to scrap NNPC, DPR, PPPRA, others; to sell unprofitable refineries

    According to reports, the Federal Government’s draft National Oil Policy has proposed to consolidate Nigeria’s oil industry regulatory authorities into a single agency to be known as Petroleum Regulatory Commission, PRC.

    It will also scraps all other regulators, including the Nigerian National Petroleum Corporation, NNPC, Department of Petroleum Resources, DPR, and Petroleum Products Pricing Regulatory Agency, PPPRA, among others.

    According to the document released by the Ministry of Petroleum Resources, last weekend, the new regulator will incorporate the activities of the existing […]

  • NNPC stops kerosene importation

    NNPC stops kerosene importation

    According to reports, the Nigerian National Petroleum Corporation has stopped the importation of Dual Purpose Kerosene into the country for three months running, its latest financial and operations report has revealed.

    According to the August 2016 edition of the report, the last time that the corporation imported kerosene into Nigeria under the Direct-Sale Direct-Purchase/Offshore Processing Agreement was in May.

    An analysis of the report on Wednesday showed that in the months of June, July and August this year, the NNPC did not […]

  • Buhari has not asked us to hike pump price – NNPC

    Buhari has not asked us to hike pump price – NNPC

    According to reports, the Nigerian National Petroleum Corporation (NNPC) says there is no plan to increase the price of premium motor spirit (PMS) above N145.

    The corporation said there was no time it met with President Muhammadu Buhari to push for a hike in the pump price to N150 per litre.

    “NNPC is not empowered statutorily to tinker with the pricing template of petroleum products as erroneously reported in some dailies,” it wrote on Twitter.

    “The price adjustment in NNPC downstream facilities from […]

  • No plans to increase petrol price to N150 – NNPC

    No plans to increase petrol price to N150 – NNPC

    Two weeks after it denied similar moves, the Nigerian National Petroleum Corporation (NNPC) yesterday, said there are no plans to increase the pump price of petrol from N145 to N150 because the corporation is not empowered statutorily to tinker with the pricing template of petroleum products.

    The NNPC added further that there was no time its management met the President to push for a hike in the pump price of petrol to N150 per litre. NNPC had, last week, increased its […]

  • Why we increased petrol pump price – NNPC explains

    Why we increased petrol pump price – NNPC explains

    According to reports, the Nigerian National Petroleum Corporation (NNPC) has provided a justification for its recent adjustment of petrol pump price at its retail outlets.

    The corporation also denied ever meeting with President Muhammadu Buhari to lobby for his approval of an increase in petrol pump prices.

    According to a statement from the corporation’s Group General Manager Public Affairs, Mallam Garba Deen Muhammad, on Monday in Abuja, the NNPC said there was no time its management met with Buhari to push for […]

  • NNPC wrong on petrol price hike, says Minister

    NNPC wrong on petrol price hike, says Minister

    According to reports, the Minister of State for Petroleum, Dr Emmanuel Ibe Kachikwu, says the recent N4 increase in price of petrol in Nigerian National Petroleum Corporation (NNPC) filling stations, is wrong.

    Kachikwu said this after receiving an award at an event organized by the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja on Sunday.

    NNPC had been selling fuel at N141 but on Thursday, Nov. 3 increased it by N4 to the government benchmark of N145.

    ”It is obviously humbling and too […]

  • NNPC increases fuel price by N4/litre at its mega stations

    NNPC increases fuel price by N4/litre at its mega stations

    It was gathered that the Nigerian National Petroleum Corporation (NNPC) has increased the pump price of petrol by N4 at its mega stations.

    Fuel price, which has been sold for N141, is set to hike to N145 per litre. This increment came on Tuesday.

    The spokesman for the NNPC, Garba-Deen Muhammad, stated that no rule compelled any marketer to sell at a particular price.

    A price regime was introduced between N135 and N145 and one is expected to sell at within that range.

    The […]