NNPC Secures $3bn Afreximbank’s Loan To Stabilise Naira   The Nigerian National Petroleum Corporation (NNPC) Limited said it had secured a $3 billion crude repayment loan to halt the further slump of Naira against the Dollar at the foreign exchange market. The company disclosed this on Wednesday...

Nigerian Govt To Sell Stakes In NNPC, 19 Entities   The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities. This is according to a Bloomberg report. The Nigerian National Petroleum Corporation is among the firms the...

Nigeria’s Oil Production Falls 13.6% to 1.08mbpd in H1 Nigeria’s oil production in the month of July 2023 fell by 13.6 percent to an average of 1.08 million barrels per day compared to 1.25mbpd recorded in June, latest production data from the Nigerian Upstream Petroleum...

Naira Slump: Marketers Project Fuel Price Hike this Month Oil marketers have warned on the possibility of another hike in petrol price this month due to fall of the naira against the United States dollar, coupled with the recent rise in global crude oil prices. Although...

Reps Probe, Direct NNPC Limited to Suspend OVH Acquisition The House of Representatives has asked the Nigerian National Petroleum Company Limited (NNPCL) to suspend the acquisition of OVH Energy Marketing, the company behind the Oando Retail brand in West African countries. This call was a sequel...

Tinubu Should Sell 15% Of NNPC Shares To Settle debt, Says Sanusi   A former Governor of the Central Bank of Nigeria, Muhammad Sanusi II, said the mounting debt profile of the country is no longer sustainable in the face of current harsh economic realities created...