Senate Tackles NNPC Over N443bn Payment Without Approval       Senate Public Accounts Committee on Wednesday berated the Nigerian National Petroleum Corporation for paying N443bn without the National Assembly’s appropriation. The chairman of the committee, Senator Mathew Urhoghide, has summoned the management of the NNPC to explain the...

Petrol Scarcity, Ploy To Hike Price - Marketers     The queues by motorists for petrol grew worse in Abuja and neighbouring states of Nasarawa and Niger on Monday as only few filling stations dispensed the commodity. But despite the scarcity and queues, which had lingered for several...

Oil Price Rebounds To $66 Ahead Of OPEC Meeting       Oil price rose from its biggest slump since November 2020, ahead of a key meeting of the Organisation of Petroleum Exporting Countries (OPEC) that may see some supply returned to a fast-tightening market. US crude rose 2.2...

NNPC, IPMAN Caution Against Panic Buying As Fuel Queues Return       The Nigerian National Petroleum Corporation (NNPC) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have cautioned motorists against panic buying as fuel queues returned in Abuja and Lagos. The Economic Confidential gathered that many filling...

Nigeria Loses N151.78bn Crude Oil Monthly – NNPC       Nigeria is currently losing an average of 200,000 barrels of crude oil daily, the Nigerian National Petroleum Corporation stated on Wednesday. Brent, the oil against which Nigeria’s crude is priced, was $66.75 per barrel on Wednesday, while the...

Senate Gives Accountant-General 24 Hours To Clarify N528bn In NNPC Financials       The Senate on Tuesday gave the Office of the Accountant General of the Federation 24 hours to provide information on N528bn not captured in the Nigerian National Petroleum Corporation financial statement. The Senate Public Account...