The Presidency on Monday said that it is considering a restructure of asset ownership in the Nigerian National Petroleum Company Limited to increase dwindling crude oil production.

The Senate has rejected the explanations provided by the Nigerian National Petroleum Company Limited (NNPCL) regarding the ₦210 trillion outstanding against the oil firm.

Retailers Warn Monopoly Threatens Nigeria’s Oil Market The Petroleum Products Retail Outlets Owners Association of Nigeria has warned against monopolistic practices in the downstream oil sector, saying fair access and open competition are critical to sustaining Nigeria’s deregulated market. Presenting a paper titled “New Frontiers for...

Executive vice president (EVP) of downstream, NNPC Ltd., says the nation’s downstream oil and gas sector is undergoing a transformation driven by deregulation, foreign exchange reforms, and strategic collaborations.

The shortfall indicates about $6.848 shortfall in oil revenue, the key component of budgetary funding.

NNPCL Profit Dips to N216bn in September The Nigerian National Petroleum Company (NNPC) Limited has reported a sharp decline in its profitability, with Profit After Tax (PAT) dropping to N216 billion in September 2025, signaling mounting financial pressure amid fluctuating oil prices and operational challenges. This...