Report Reveals Nigeria Owes NNPC $4.9bn Fuel Debt The Federal Government owes the Nigerian National Petroleum Company Limited, almost half of what it plans to collect in revenues this year for the petrol subsidy it reintroduced in August last year, Bloomberg reported on Monday. The report...

NNPC Records N3.3trn Profit for 2023 The Nigerian National Petroleum Company (NNPC) Limited has declared a profit of N3.3 trillion for the fiscal year 2023. Pius Akinyelure, chairman of the NNPC board, spoke during a media briefing on the company’s 2023 audited financial statements (AFS) on...

'NNPCL Remitted Zero Allocation To Federation Account In 2022'   The Nigerian National Petroleum Company Limited (NNPCL) remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar...

NNPC Ltd Assets Worth $60bn, Says Kyari   The Group Chief Executive officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the assets of the newly reformed company are worth $60 billion (about N25.27 trillion). Kyari stated this at the Nigeria-India Business Forum held...

Senate Probes NNPC’s Alleged Failure To Remit 10-year Stamp Duty       The Senate has launched a large-scale probe into the alleged non-remittance of the one per cent stamp duty on contracts awarded by the Nigerian National Petroleum Corporation from 2010 to 2020. The Committee on Finance, which...

Port Harcourt Refinery Rehab: We Can’t Afford to Fail – NNPC … Says Project to Generate 3,000 Jobs as Construction Work Kicks off The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not...