NNPC Says 77m Nigerians Lack Access To Power   The Nigerian Bulk Electricity Trading Plc on Thursday provided statistics on misalignments in the power value chain, saying that about 14,000 megawatts of electricity was contracted to power generation companies. Managing Director, NBET, Nnaemeka Ewelukwa, gave a breakdown...

NNPC Spends N1.1trn On Subsidy, FAAC Remittance, Oil Exploration In 7 Months   The Nigerian National Petroleum Corporation (NNPC) spent N1.165 trillion to subsidize petrol, for oil exploration and remittance to the Federation Account Allocation Committee (FAAC) in seven months of this year. According to NNPC monthly...

NNPC To Spend N621bn On Rehabilitation Of 16 Roads   The Nigerian National Petroleum Corporation has committed to spend N621bn on road rehabilitation, following the suspension of the planned strike by the National Union of Petroleum and Natural Gas Workers, our correspondent gathered on Tuesday. Economic Confidential...

NNPC Spent N32.56bn On Pipeline Security, Maintenance In Six Months   The Nigerian National Petroleum Corporation has said it spent a total of N32.56bn on pipeline security and maintenance from February to July this year. The NNPC spent N5.81bn on pipeline security and management in February; N5.32bn...

Brent Crude Now $85.62/barrel       The Nigerian National Petroleum Corporation (NNPC) on Monday said Brent crude sold $85.62 per barrel. According to the report, the crude gained $0.76, indicating 0.90%. A Reuters report attributed the rising price to soaring demand following the recovery from the COVID-19 pandemic, boosted...

Eight-month Fuel Imports Gulp $690m Amid Forex Scarcity As Nigeria’s refineries continue to sit idle, fuel imports remain a major user of foreign exchange as $690.19m (about N285.95bn, using N414.3/$, I&E rate as of Tuesday) was utilised in eight months amid the lingering forex scarcity...