Eko Hot Blog reports that Nigerian National Petroleum Company (NNPC) Limited has reacted to reports that there is an imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. In a statement issued by the company’s spokesperson, Olufemi O. Soneye, on Wednesday, it said there was no plan to raise petrol … Read more
EKO HOT BLOG reports that the Nigerian National Petroleum Corporation (NNPC) has accomplished its commitment to achieving mechanical completion of rehabilitation work on Area 5 Plant at the Port Harcourt Refining Company (PHRC). This pivotal achievement comes following a significant inspection tour and the 15th Refineries’ Rehabilitation Steering Committee Meeting. Mele Kyari, Group Chief Executive Officer … Read more
EKO HOT BLOG reports that the Nigerian National Petroleum Company Limited, (NNPC), on Thursday, announced the death of a former Group Managing Director, GMD, and Acting Alternate Chairman of the Board of the defunct Nigerian National Petroleum Corporation, Thomas Maurice Asuquo John. This online media platform learnt that John died at the age of … Read more
EKO HOT BLOG reports that Socio-Economic Rights and Accountability Project (SERAP) has urged the CEO of NNPC, Mele Kolo Kyari, to disclose Nigeria’s daily oil production, export volumes, and revenue since the removal of petrol subsidy in May 2023. This request follows allegations of insufficient foreign exchange remittance by the NNPC into the treasury, voiced by … Read more
EKO HOT BLOG reports that the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said oil refineries were not created to reduce petrol prices. Kyari stated this on Friday when he appeared before the National Assembly Joint Committee on Appropriations. EDITOR’S PICKS APC Wins In Ekiti Local Government … Read more
Eko Hot Blog reports that President Bola Tinubu has received praise from the Ijaw Youths Network for extending the pipeline protection contract given to Tantita Security Services Limited for a another three years. In a statement released on Sunday, October 15, 2023, the IYN Coordinator Frank Ebikabo and Secretary Federal Ebiaridor praised the President for … Read more
Eko Hot Blog reports that the Federal Government has reacted to speculations that it has restarted paying fuel subsidy which President Bola Tinubu said was gone. The Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, who met with the president on Monday at the Presidential Villa, denied allegations making the … Read more
EKO HOT BLOG reports that fuel queues have returned to some parts of Lagos State as oil marketers have stopped the importation of Premium Motor Spirit, popularly called petrol. This online media platform understands that seven oil marketers reportedly imported petrol about a month ago but have stopped because of the forex crisis. EDITOR’S PICKS … Read more
Eko Hot Blog reports that the NNPC Ltd and the Nigerian Content Development & Monitoring Board (NCDMB) have signed a Memorandum of Understanding with the International Oil Companies (IOCs) to reduce contracting cycle to an optimal level of not more than 180 working days. The MoU, which was executed on Monday at the NNPC Towers … Read more
EKO HOT BLOG reports that the Nigeria National Petroleum Company Limited (NNPCL) has announced the sack of all management staff with less than fifteen months to statutory retirement. The NNPC in a statement released to that effect said all affected management members in that category will be exiting the company today, September 19, 2023. EDITOR’S … Read more
EKO HOT BLOG reports that fuel marketers have called on the Federal Government to provide transparency regarding its stance on fuel subsidy. They assert that the government has quietly resumed subsidizing Premium Motor Spirit (PMS), commonly known as petrol. They claim that this discreet return to fuel subsidy has prevented the price of petrol … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) and Indorama Eleme Petrochemicals Limited have signed a Memorandum of Understanding (MOU) to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria. According to a statement issued by the NNPC spokesperson, Garba Deen … Read more
Eko Hot Blog reports that the Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. This was made known by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection tour of the rehabilitation work progress … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) says it has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange (Forex) market. The corporation made the disclosure in a terse statement posted on the official account of the company on X (formerly known as … Read more
EkoHotBlog reports that President Tinubu is currently in a meeting with the GMD of Nigerian National Petroleum Corporation (NNPC) and executives from Shell Petroleum Development Company. As of the time of filing this report, details of the discussion remain undisclosed, however, it is highly probable that the meeting centers around the recent fuel price adjustments and … Read more
President Tinubu forms committee to resolve NNPC-FAAC dispute over unremitted funds. Investigation launched into NNPC’s alleged failure to pay N2.1 trillion, reconcile government’s debt. NNPC claims government owes over N4.2 trillion in charges. EKO HOT BLOG reports that President Bola Tinubu has set up a committee to resolve the tussle between the Nigeria National Petroleum … Read more
Oil marketers, represented by the Independent Petroleum Marketers Association of Nigeria (IPMAN), have disclosed that they possess the necessary numerical strength to bring down the pump price of Petrol. This is in response to the ongoing fuel subsidy removal discussions that has plagued the Nigerian political space. President Tinubu, during his inauguration, declared an … Read more
The President of the Nigerian Labour Congress (NLC), Joe Ajaero, has asserted that the Nigerian National Petroleum Corporation (NNPC) does not possess the legal authority to determine the prices of petroleum products. This is in response to the Federal Government confirming the official status of fuel subsidy within the Nigerian budget. According to Ajaero, there … Read more
Promises to make at least one refinary active this year Eko Hot Blog reports that the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC Limited, Mele Kyari says the Nigerian President, Bola Tinubu plans to provide palliative to citizens to reduce the hardship brought on by the fuel subsidy removal. Mr. Kyari disclosed … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) Limited has revealed the reason for the increase in pump price at its outlets across the country. Recall that President Bola Tinubu, in his inaugural address on Monday, triggered panic buying across the country after declaring that “fuel subsidy is gone.” EDITOR’S PICKS Epe-Berger … Read more