NNPC Struggles To Remit N349.2bn Of Projected N1.465trn To FAAC           Out of a possible N1.46 trillion the Nigerian National Petroleum Corporation (NNPC) budgeted as revenue payment to the nation in the first seven months of 2021, the corporation has only been able to remit N349.254...

Daily Fuel Consumption Rises To 72m Litres As Subsidy Hits N541.66bn             Petrol consumption in the country jumped from 55.59 million litres a day in April to 72.07 million litres per day in the month of May. This shows that in the month of May, petrol consumption...

Between Mele Kyari and Dangote Refinery, by Callistus Uzoma           It is remarkable that the Nigerian National Petroleum Corporation ( NNPC) is undergoing profound transformation at a time of perceived corporate despondency with national economic implications. Most significant of the positive indicators is the elevation to...

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...