27 articles tagged
Nigeria is experiencing a rise in demand for its Liquefied Natural Gas (LNG) due to ongoing global energy disruptions, while also speeding up approvals for oil output to capitalize on current market conditions. Buyers are reportedly shifting focus towards Nigerian supplies as alternatives to Middle Eastern sources.
The Socio-Economic Rights and Accountability Project (SERAP) is calling on Senate President Godswill Akpabio to ensure transparency regarding officials linked to the ₦200 trillion misappropriation case involving the Nigerian National Petroleum Company Limited (NNPC).
The Economic and Financial Crimes Commission (EFCC) has handed over over N3.9 billion to the Nigerian National Petroleum Company Limited (NNPC) after an investigation into alleged fraud. NNPC's Executive Vice President commended the EFCC for their cooperation in this effort.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has remitted the entire profits from its Production Sharing Contracts (PSCs) for February 2026 to the Federation Account, a move in line with President Bola Tinubu's Executive Order 09. This shift follows a previous remittance of only 40% in January.
The Coalition for Better Nigeria has expressed backing for the National Assembly's investigation into the controversial ₦2.1 trillion pipeline surveillance contract awarded by the Nigerian National Petroleum Company Limited (NNPCL). The group also urged President Bola Ahmed Tinubu to revisit the contract, deeming it economically unfeasible and ineffective against oil theft.
Nigeria's crude oil production experienced a 10% decrease, falling to 1.31 million barrels per day in February, according to the latest figures from the Organisation of Petroleum Exporting Countries (OPEC). This dip means the nation failed to meet its allocated production quota.
The Nigerian National Petroleum Company Limited has decreased the petrol price at its outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja, marking reductions of N100 and N95 respectively. This change follows recent adjustments in global oil prices.
The Nigerian National Petroleum Company Limited (NNPC Ltd) reported a significant decline in revenue for January 2026, totaling N2.57 trillion. This marks a 46.7% drop from the earnings recorded in December 2025.
Senator Ahmed Wadada's assertion of a ₦210 trillion discrepancy in the accounts of the Nigerian National Petroleum Company Limited (NNPCL) is critically analyzed, with findings suggesting that the figure is implausible and lacks foundational evidence.
Seplat Energy, in partnership with NEPL, has successfully trained 623 teachers and education inspectors through its Seplat Teachers Empowerment Programme (STEP) in Edo and Delta states.
The Abuja Electricity Distribution Company (AEDC) reports a 15% rise in its electricity supply over the past year, while slashing its Aggregate Technical, Commercial, and Collection (ATC&C) losses from 42% to 32%. The Managing Director highlighted the company's plans to stabilize supply and enhance customer service.
A recent visit to the Kolmani oil field reveals a stark lack of activity nearly three years after its launch. Experts and locals express concerns over project delays, uncertainties in exploration efforts, and escalating security issues in surrounding communities.
Dr. Olisa Agbakoba has called for the full privatization of the Nigerian National Petroleum Company (NNPC) and a judicial review of the Petroleum Industry Act (PIA) to enhance Nigeria's oil revenue. He emphasizes the need for significant reforms to address the nation's oil governance issues.
The Nigerian National Petroleum Company (NNPC) Limited has announced an after-tax profit of ₦5.760 trillion, which is approximately $4.26 billion, for the financial year 2025. This announcement comes as part of their latest operational review, highlighting various sectors of the organization.
The Economic and Financial Crimes Commission (EFCC) has brought charges against two individuals for allegedly defrauding Oluseye Yomi-Sholoye of N603.4 million to influence her appointment as group managing director of the Nigerian National Petroleum Company (NNPC) Limited.
