Idle NNPC Refineries Sell N463.63m Worth Of Electricity       While they did not process a single barrel of crude oil in 2020, Warri and Kaduna refineries earned a total of N463.63m from the sale of electricity, their audited financial statements have shown. The two refineries have a...

NNPC Refineries Generate Zero Revenue, Pay Workers N69bn         Workers at the government-owned refineries were paid a total of N69.07bn last year, even as the plants generated zero revenue as they did not process a single barrel of crude oil. The refineries suffered a combined loss of...

Doubt Over NNPC’s Viability As Liabilities Exceed Assets By N4.6trn       Auditors of the Nigerian National Petroleum Corporation (NNPC) have questioned the viability of the company as its current liabilities exceeded its current assets by N4.6 trillion. The Auditor’s concern is contained in the 2020 financial year...

NNPC’s Revenue Falls By N916bn Despite Posting N287bn Profit       Nearly two weeks after declaring its first profit in its 44-year history, the Nigerian National Petroleum Corporation said on Wednesday that its group revenue for the 2020 financial year fell to N3.72tn from N4.63tn in 2019....

Rising Cooking Gas Price Due To Undersupply - Kyari       The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has assured Nigerians that the corporation is working with relevant agencies to ensure that the price of gas is affordable by increasing the volume...

Nigeria Spends N1.47trn On Petrol Imports In Six Months         The amount spent on the importation of Premium Motor Spirit (petrol) in the first half of this year jumped to N1.47tn, which is more than 73 per cent of what was incurred in the whole of...