The Nigerian National Petroleum Company (NNPC) Limited has responded to a report on its plans to secure a fresh $2 billion oil-backed prepayment loan amid fuel scarcity in the country. Eko Hot Blog reports that The company’s Chief Corporate Communications Officer, Olufemi Soneye, neither confirmed nor denied the report, stating that “when we are ready … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the irreversible commencement of its initiative to bring Compressed Natural Gas (CNG) closer to Nigerians. Group Chief Executive Officer of NNPC Ltd, Mele Kyari, stated that along with the extensive deployment of CNG stations nationwide, the company and its partners will also establish three Liquefied … Read more
Former Governor of Bayelsa State, Senator Seriake Dickson, praised the Federal Government’s engagement of Tantita Security Services Nigeria Limited (TSSNL) as a commendable initiative. Eko Hot Blog gathered that Dickson emphasized the importance of expanding Tantita’s coverage area to enhance its contributions to the nation during his visit to Oporoza, the headquarters of Gbaramatu Kingdom … Read more
KPMG conducts forensic audit revealing ₦3.3 trillion inconsistency in fuel subsidy claims by NNPC. NNPCL initially reported ₦6 trillion in subsidy spending, with the government owing ₦2.8 trillion, as per CEO Mele Kyari. Nigerian Government plans fresh audit of NNPC’s ₦2.8 trillion fuel subsidy claim spanning 2015 to 2021 to authenticate claims. EKO HOT BLOG reports … Read more
By Oluwadamilola Opeoluwa Pitan Eko Hot Blog reports that President Bola Tinubu has announced the appointment of Engr. Chukwuemeka Woke as the Director-General/Chief Executive Officer of the National Oil Spill Detection and Response Agency (NOSDRA). He also appointed Dr. Adedeji Ashiru as the Managing Director/Chief Executive Officer of the Ogun-Osun River Basin Development Authority (OORBDA). … Read more
Don’t Panic Buy Petrol: NNPCL Reports 1.5 Billion Litres In Stock Vehicular queues at filling stations in Lagos and FCT gradually dissipating as scarcity eases NNPC collaborates with stakeholders to address hoarding and improve distribution efficiency EKO HOT BLOG reports that the Nigerian National Petroleum Company (NNPC) Limited issued a cautionary statement to Nigerians on Tuesday, … Read more
Marketers Calls Urgent Meeting Amid NNPC’s Efforts. Fuel scarcity deepens nationwide NNPC opens reserves, Major Energies Marketers Association receives fuel shipments. EKO HOT BLOG reports that as the fuel scarcity worsens nationwide, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) are set to convene their National Executive Council meeting on Monday to address the … Read more
A man was shot dead during a scuffle at a Lagos filling station on Wednesday. There were reports that a DSS officer shot the victim, but the agency denied them. The police have come out to say the shooter is one of their own, but did not reveal his name. Eko Hot Blog reports that … Read more
DSS Denies Shooting Incident at Lagos Filling Station Directs Inquiries to the Police Contradicts Eyewitness Accounts Eko Hot Blog reports that the Department of State Services (DSS) has denied claims that its operatives shot someone at a filling station in Lagos. This statement contradicts earlier reports of a young man, Toheeb Eniafe, being killed by … Read more
NNPC Faces Lawsuit For Alleged Failure To Account for ₦164 Billion In Oil Fund They seek orders to compel NNPC to explain, recover, and remit missing funds, as well as hand over suspects for investigation. Auditor-General’s reports document NNPC’s failure to remit funds, contributing to economic challenges. EKO HOT BLOG reports that the Socio-Economic Rights and … Read more
Oil Marketers Eye N500/Litre Petrol Price As Port Harcourt Refinery Gears Up. Dealers confirm nearing readiness of PHRC, anticipate reduction in petrol price. NNPC’s Mele Kyari reveals plans for refinery operations, aiming to alleviate petroleum supply challenges. EKO HOT BLOG reports that as the Port Harcourt Refining Company (PHRC) gears up for production under the directives … Read more
Federal Government Speaks On Return Of Fuel Subsidy. Minister of State for Petroleum Resources emphasizes government’s stance on subsidy cessation. Challenges raised for those alleging ongoing subsidy payments, calling for evidence and facts to support claims. EKO HOT BLOG reports that the Federal Government, through the Ministry of Petroleum Resources and the Nigerian National Petroleum Company … Read more
Eko Hot Blog reports that Crude oil price on Monday increased to $87 per barrel — highest since October 2023. Brent crude increased by 0.56 percent to $87.54 a barrel while US West Texas Intermediate (WTI) crude rose 0.79 percent, to $83.83 percent, at 20.00 WAT. Editor’s Picks Naira Maintains Streak, Appreciates To 1,250/$ JUST … Read more
NNPC has refuted claims of a decrease in petrol and diesel prices at its filling stations nationwide. Chief Corporate Communications Officer, Olufemi Soneye, clarified that reports of a price crash were false. The company affirmed that there were no plans for price adjustments. Eko Hot Blog reports that The Nigerian National Petroleum Corporation (NNPC) has … Read more
Eko Hot Blog reports that the 10th Senate under the leadership of Godswill Akpabio, has announced the need to reexamine the 2024 national budget, which currently stands at N28.77 trillion, following the continuous depreciation of the Naira against the US dollar. This reassessment aims to address the economic implications of the fluctuating exchange rate on … Read more
EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited (NNPCL) has explained why there are currently long queues at some filling stations in Lagos State. The NNPCL, tied the development to a “brief distribution issue.” This online media platform gathered that long lines were seen on Monday at several petrol stations in Lagos. Locals … Read more
Eko Hot Blog reports that Dangote refinery is set to import crude from the United States of America in the coming months. According to Bloomberg, Trafigura Group is expected to sell 2 million barrels of WTI Midland to the Dangote refinery for end-February delivery, quoting traders with knowledge of the matter. With the development, sources … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) has released its 2022 financial statement, saying that its revenue increased to N8.81 trillion in 2022. The national oil company disclosed this in its audited financial statements on Thursday for the 16-month period ending December 2022. According to NNPP, the document showed that the … Read more
EKO HOT BLOG reports that the Presidency has replied to the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, over the Nigerian National Petroleum Company Limited’s (NNPCL) $3.3 billion emergency crude repayment loan. This online media platform recalls that the repayment loan was secured on August 16, 2023, and was designed to bolster … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company Limited (NNPCL) has announced its intention to hand over the operation and maintenance of the Port Harcourt Refining Company to private entities. This strategic move aims to boost the refinery’s reliability and contribute to Nigeria’s fuel supply and energy security. Editor’s Picks BREAKING: Nigeria’s Inflation … Read more