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Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game changing intervention will eliminate the need for international letters of credit. It will also save the country of billions of dollars used in importing refined fuel.
News

NNPC Loses 12.8% Stake In Dangote Refinery Due To Unpaid Balance

Aliko Dangote, Chief Executive Officer of Dangote Refinery, has said the Nigerian National Petroleum Corporation (NNPC) now holds only a 7.2 per cent...

On Tinubu's Directives, NNPC Drops Case Against ExxonMobil's $1.3bn Assets Sale to Seplat Energy
FinancePolitics

On Tinubu’s Directives, NNPC Drops Case Against ExxonMobil’s $1.3bn Assets Sale to Seplat Energy

The Nigerian National Petroleum Company (NNPC) has reportedly withdrawn its lawsuit against ExxonMobil three weeks after President Bola Tinubu’s decisive directives, which were...

NNPC Denies Allegations of Inflating Fuel Subsidy by N3.3 Trillion
FinancePolitics

NNPC Denies Allegations Of Inflating Fuel Subsidy By N3.3 Trillion

The Nigerian National Petroleum Company Limited (NNPCL) has denied the allegations that it inflated Premium Motor Spirit (PMS/Fuel) subsidy claims by N3.3 trillion...

BusinessNews

NNPC And ExxonMobil Settle Over $1.2bn Divestment Deal Involving Seplat Energy

The Nigerian National Petroleum Company (NNPC) Limited has finalised a settlement agreement with ExxonMobil, enabling the divestment of ExxonMobil’s entire stake in Mobil...

BusinessNews

Just In: Fire Erupts at NNPC Filling Station in Lagos

Fire has broken out at a Nigerian National Petroleum Corporation (NNPC) filling station near the Fadeyi bus stop in the Mushin area of...

Reports emerging just a few days after recent allegations against the Nigerian National Petroleum Company Limited by Alhaji Aikko Dangote, founder of Dangote Petroleum Refinery,
BusinessNews

Petrol Supply will Improve, Stop Panic Buying – NNPC Promises

Despite ongoing nationwide fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) Limited has once again cautioned motorists against panic buying petrol, known as...

Reports emerging just a few days after recent allegations against the Nigerian National Petroleum Company Limited by Alhaji Aikko Dangote, founder of Dangote Petroleum Refinery,
News

Nigerians lament hike in fuel prices, despite NNPC assurance

Nigerians across different states are lamenting the hike in fuel prices in recent days and the existence of long queues. Days earlier, the...

The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against Nigerian National Petroleum Company Limited (NNPC). The lawsuit, filed at the Federal High Court in Abuja under suit number FHC/ABJ/CS/549/2024, revolves around the alleged disappearance of $2.04 billion and N164 billion in oil revenues.
Human RightsNews

SERAP Drags NNPC To Court Over Alleged Missing $2.04bn And N164bn Funds

The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against Nigerian National Petroleum Company Limited (NNPC). The lawsuit, filed at the...

Barely weeks after declaring a net profit of N3.3 trillion in the 2023 financial year, with a purported increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion, NNPC has announced it is under intense financial pressure.
News

NNPC debunks reports of Petrol price increase

The Nigerian National Petroleum Corporation (NNPC) has refuted social media reports suggesting an increase in Premium Motor Spirit (PMS) and Automotive Gas Oil...

BusinessNews

NNPC to Transfer Significant Part of its Revenue to CBN 

The Nigerian National Petroleum Company (NNPC) Limited and the Central Bank of Nigeria (CBN) have reviewed their decision to centralize a significant portion...

FinanceNews

Atiku Criticizes NNPC’s Refinery Privatization Approach

Former Vice President Atiku Abubakar has criticized the Nigerian National Petroleum Corporation’s (NNPC) approach to privatizing the recently rehabilitated refinery, calling for transparency...

BusinessNews

NNPC Ltd.: “No Increase in Fuel Prices”

The Nigerian National Petroleum Company (NNPC) Ltd., in a recent statement, assures the public that there is no imminent increase in the cost...