Tag: NNPC
President Tinubu Overhauls NNPC Leadership, Appoints New Board to Drive Oil Sector Reforms
April 2, 2025 | Abuja In a sweeping move to revitalize Nigeria’s energy sector, President Bola Ahmed Tinubu today announced a complete reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, replacing Chairman Pius Akinyelure and Group CEO Mele Kyari alongside all board members appointed in November 2023. New Leadership TeamThe newly constituted 11-member…
NNPCL Prepares for Landmark Public Listing Amid Transparency Concerns
The Nigerian National Petroleum Company Limited (NNPCL) has entered the final stages of its long-anticipated transition to a publicly traded entity, announcing plans to list its shares on the capital market in compliance with the Petroleum Industry Act (PIA) 2021. The move, revealed Thursday by Chief Corporate Communications Officer Olufemi Soneye, marks a pivotal moment…
Oil Sector Reforms Attract $17 Billion in Foreign Investment – NNPC
The Nigerian National Petroleum Company Limited (NNPC) has announced that reforms in the oil and gas sector, driven by the Petroleum Industry Act (PIA) 2021 and Executive Orders issued by President Bola Ahmed Tinubu, attracted approximately $17 billion in foreign investment in 2024. This revelation was made by Mr. Udy Ntia, Executive Vice President of…
NNPC Ltd Expands Domestic Gas Supply with Landmark Agreement for 80mmscf/d Supply to Ssonic Petroleum
In a significant move to bolster domestic gas utilization and support Nigeria’s industrial and economic growth, the Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a landmark Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd. The agreement, executed on Thursday, March 6, 2025, will see NNPC Gas Marketing Ltd (NGML), a subsidiary…
Fuel Price War: Nigerians to Enjoy Further Petrol Price Reductions as NNPC, Dangote Refinery Compete
Nigerians can expect further reductions in the price of Premium Motor Spirit (PMS), commonly known as petrol, as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery engage in a price war. This development comes as both companies have recently slashed their petrol prices, sparking competition that is set to benefit consumers. On Monday,…
NNPC Ltd. Clinches Best Fully Integrated Energy Company of the Year 2024 Award
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has been honored as the Best Fully Integrated Energy Company of the Year 2024 at the prestigious Nigeria International Energy Summit (NIES) held in Abuja. The award recognizes NNPC Ltd.’s outstanding contributions to the energy sector and its commitment to driving innovation, sustainability, and growth in Nigeria’s…
NNPC, Stena Bulk, and Caverton Launch Joint Venture to Transform Africa’s Energy and Maritime Sectors
In a landmark move set to revolutionize Nigeria’s maritime and energy sectors, the Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have announced the formation of a new joint venture. The partnership, formalized in London last week, aims to establish a world-class tanker operation to serve Nigeria and West Africa’s crude…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
IPMAN: Fuel Pricing to Be Driven by Competition Between NNPC and Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the price of petrol will determine whether its members purchase from the Nigerian National Petroleum Company (NNPC) or Dangote Refinery. According to Ukadike Chinedu, the National Publicity Secretary of IPMAN, marketers will seek the most cost-effective source as competition between local suppliers sets in….
NNPC Clarifies: Dangote Refinery Free to Offer Competitive Prices in Nigerian Market
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to claims made by the Muslim Rights Concern (MURIC) that its actions may be undermining the operations of the Dangote Refinery Limited (DRL). In a statement released today by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the company emphasized that the Nigerian market…