#Nigerian National Petroleum Company

[morganablenewsmedia]

Dangote Will Only Sell Petrol To NNPC — FG

Dangote Will Only Sell Petrol To NNPC — FG Sales And Distribution Commence Today Federal Government of Nigeria, through the Minister of Finance and Coordination Minister of the Economy, Wale Edun, revealed on Friday that the distribution of Premium Motor Spirit (petrol) will start on Sunday. This disclosure was made by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch…

[saynaija]

NNPCL To Sell Dangote Petrol At ₦950/Litre In Lagos, ₦1,019 in Borno

NNPCL To Sell Dangote Petrol At ₦950/Litre In Lagos, ₦1,019 in Borno The Nigerian National Petroleum Company Limited has said that it will sell the petrol lifted from the Dangote Refinery for nothing less than ₦950 per litre in Lagos. The NNPCL spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery…

[premimtimes]

SSS gives NNPCL, marketers, others 48 hours to end fuel scarcity across the country

SSS gives NNPCL, marketers, others 48 hours to end fuel scarcity across the country

The State Security Service (SSS) has given the Nigerian National Petroleum Company Limited (NNPCL) and other relevant organisations in the oil sector 48 hours to end the lingering fuel scarcity across the country. The spokesperson of the Service, Peter Afunanya, stated this at a press conference on Thursday in Abuja. He disclosed SSS had a closed-door meeting with the relevant organisations in…

[solarpunkbusiness]

Meet the Nigerian women spearheading solar projects

32-year-old green energy entrepreneur Yetunde Fadeyi will never forget what inspired her to start a clean energy company in Nigeria.

As a six-year-old, Fadeyi’s best friend, Fatima, was killed by carbon monoxide poisoning in her Lagos home, along with her father and pregnant mother.

“She often came over for sleepovers. But that day she didn’t,” says Fadeyi. “It was the time that they were stealing people’s generators, so they kept [the generator] in an enclosed area and by the time it was morning they were dead.”

After a childhood in Lagos plagued by intermittent electricity, a degree in chemistry and training in solar panel installation, Fadeyi started Renewable Energy and Environmental Sustainability (REES). The non-profit is dedicated to climate advocacy and providing clean energy to poor communities in rural Nigeria.

Bringing solar energy to Nigeria’s poorest homes

Since its inception in 2017, REES Africa has provided solar energy to over 6,000 people in the poorest parts of Nigeria, funded by grants and philanthropic donations.

It supplies solar microgrids, which generate energy through solar panels and store them in battery banks for distribution. The small grids bring high quality, cheap and constant power to up to 100 homes each, powering light bulbs, radios, sockets and other low energy appliances.

Fadeyi says that energy companies don’t see any potential for profit in poor and marginalised communities. With around 40 per cent of Nigerians living below the national poverty line, it’s up to companies like Fadeyi’s to fill the gap for now.

Professor Yinka Omoregbe is hoping to bridge this energy gap as CEO of Etin Power, providing energy to offgrid communities using mini solar grids. She brings a wealth of experience to the role as a former national advisor on the reform of Nigeria’s petroleum sector and a former state attorney general.

In its first year, Etin Power provided electricity to over 5,200 people in three neglected coastal communities in Edo State, southern Nigeria. While the results so far are small, Omoregbe’s ambitions are far bigger.

We will have proven that it is possible to profitably give green energy to vulnerable communities.”

[lboogie1906]

Kenule Beeson “Ken” Saro-Wiwa (October 10, 1941 – November 10, 1995) was a Nigerian writer, television producer, environmental activist, and winner of the Right Livelihood Award for “exemplary courage in striving non-violently for civil, economic, and environmental rights” and the Goldman Environmental Prize. He was a member of the Ogoni people, an ethnic minority in Nigeria whose homeland, Ogoniland, in the Niger Delta, has been targeted for crude oil extraction since the 1950s and which has suffered extreme environmental damage from decades of indiscriminate petroleum waste dumping. Initially as spokesperson, and then as president, of the Movement for the Survival of the Ogoni People led a nonviolent campaign against environmental degradation of the land and waters of Ogoniland by the operations of the multinational petroleum industry, especially the Royal Dutch Shell company. He was an outspoken critic of the Nigerian government, which he viewed as reluctant to enforce environmental regulations on the foreign petroleum companies operating in the area.

At the peak of his non-violent campaign, he was tried by a special military tribunal for allegedly masterminding the gruesome murder of Ogoni chiefs at a pro-government meeting, and hanged by the military dictatorship of General Sani Abacha. His execution provoked international outrage and resulted in Nigeria’s suspension from the Commonwealth of Nations for over three years. #africanhistory365 #africanexcellence

[smlblogtv]

Latest Petrol Price Hike News, Update On Fuel Scarcity For November 11th, 2024

As Nigerians continue to groan over the recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News brings you the latest update on petrol scarcity, fuel price increase and Govt/citizens’ reactions. Senator Sani Musa Clarifies Controversial Fuel Subsidy Comment Senator Mohammed Sani Musa, Chairman of the Senate Committee on Finance, has addressed the…

[ejesgistnews]

As Nigerians face growing concerns over escalating petrol prices and ongoing fuel scarcity, Ejes Gist News provides the latest updates, including reactions from citizens, projections, and government responses. Petrol Prices Could Reach ₦1,200/Litre, Naira May Depreciate to ₦1,550/$ – Economist Bismarck Rewane In a startling projection, the Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has warned that petrol prices in Nigeria could soar to ₦1,200 per litre. This forecast comes amidst fears of further economic instability. During the Lagos Business School’s November session, titled Democracy on Trial! Trump – Going Back to the Future, Rewane shared his economic outlook for the country. He noted that the Naira could depreciate further, potentially trading at ₦1,550 per US dollar by January 2025. Rewane's predictions are based on an anticipated decline in global oil prices, with Brent crude potentially trading at $70 per barrel by December. He argued that the Naira's current value does not align with economic fundamentals and could experience a 30% adjustment within the next year. [caption id="attachment_303742" align="alignnone" width="768"] CNG: Transport Fare Reduction By 40% Reality Amid Petrol Price Hike – Nigerian Govt[/caption] Dangote Refinery Begins Fuel Exports Amid Domestic Price Hike Despite rising petrol prices in Nigeria, Dangote Refinery is set to commence fuel exports to several African countries, including South Africa, Angola, and Namibia. The 650,000-barrel-per-day refinery, located in Lekki, is reportedly in advanced discussions for supply agreements. Sources indicate that other nations, such as Niger Republic, Chad, Burkina Faso, and the Central African Republic, are also exploring fuel import deals with the refinery. Ghana, which currently spends approximately $400 million monthly on fuel imports from Europe, has expressed interest in purchasing refined products from Dangote. Mustapha Abdul-Hamid, Chairman of Ghana’s National Petroleum Authority, believes this partnership could reduce Ghana's dependence on European imports and stabilize local fuel markets. Senator Musa Praises Tinubu's Subsidy Removal Policy Senator Sani Musa of Niger East Senatorial District has commended President Bola Tinubu's decision to eliminate the fuel subsidy, describing it as the most beneficial policy for Nigeria in recent times. Speaking in an interview with Channels TV, Musa argued that the removal of fuel subsidies, announced by President Tinubu on May 29, 2023, was a necessary move. The policy led to a steep increase in petrol prices and inflation, causing a ripple effect on the cost of goods and services nationwide. Musa defended the decision, stating, “The President acted in the best interest of the nation. We must ensure that the policy's implementation does not negatively impact Nigerians.” With economic forecasts suggesting further depreciation of the Naira and a likely increase in petrol prices, many Nigerians are bracing for tougher times ahead. As discussions continue about potential fuel supply agreements with Dangote Refinery and the government's stance on subsidy removal, citizens await concrete measures to address inflation and fuel scarcity challenges.

[newsbreak365blogs]

NICOCSO protested over the impasse between the Nigeria National Petroleum Company Limited (NNPCL) and Dangote Refinery and other challenges in the Nigerian oil sector. On Friday, the Nigerian Coalition of Civil Society Organisations (NICOCSO) has staged protests at the National Assembly. NICOCSO protested over the impasse between the Nigeria National Petroleum Company Limited (NNPCL) and […]

[morganablenewsmedia]

Tinubu Is Arrogant – PDP

Tinubu Is Arrogant – PDP As He Fails To Address Economic Woe Playing opposition in the game of politics is always a welcome devise which prevents the ruling party from being ‘autocratic’ which may result into one-party state if not checkmated. The People’s Democratic Party (PDP) is known to be the major opposition party to the ruling party, All Progressive Congress (APC), due to tight contests…

[saynaija]

Dangote’s Petrol To Flood Market From Sept 15, Price Determined By Market Forces — NNPCL

Dangote’s Petrol To Flood Market From Sept 15, Price Determined By Market Forces — NNPCL The Nigerian National Petroleum Company Limited (NNPCL) has said Premium Motor Spirit or petrol from the Dangote Refinery will begin to flood the market from September 15, 2024. The company who revealed this in a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye on Thursday in…

[rovingnaija]

NNPCL Launches Free Cancer Screening Campaign, Targets 3,000 Nigerians

The Nigerian National Petroleum Company Limited (NNPC Ltd.) through NNPC Foundation, its Corporate Social Responsibility (CSR) arm, is set to launch a free cancer screening campaign to address Nigeria’s rising cancer cases. The campaign tagged “Cancer Awareness and ZSX Screening” will provide, not just free cancer screening to indigent Nigerians, but also health education, workshops, and…

[echonewsnig]

Nigeria’s Petrol Crisis Lingers with Fresh Price Hike

  By Paul Ejime Nigerians woke up on Tuesday 28 October 2024 to another petrol price hike, the fourth within 18 months under President Bola Tinubu’s administration with the outlets of the Nigerian National Petroleum Company Limited (NNPCL) increasing the pump price of Premium Motor Spirit (PMS) or petrol from 897 Naira to 1,025 Naira (1,600 Naira=1$USD). Before the president announced the “end to…

[lboogie1906]

Folorunso Alakija (July 15, 1951) is a Nigerian businesswoman who is involved in various industries such as fashion, oil, and printing. She is known for being one of the richest Black women in the world.

She was born in Ikorodu, Lagos State. She was from a sizable family due to her father, Chief L.A. Ogbara, having been married eight times and fathering 52 children. Alakija was his second surviving child and her mother, a fabric merchant, was his first wife. At the age of seven, she and her younger sister Doyin were sent to study abroad at Dinorben School for Girls in Northern Wales. The pair of sisters attended the school for four years before they returned to Nigeria at the request of their parents, who did not want the girls’ African values, traditions, and culture to be lost. She continued her studies at Muslim High School in Sagamu, Ogun State, Nigeria. She ventured abroad again, this time to Pitman’s Central College in London to pursue an education in secretarial studies.

She began working in Lagos as an executive secretary and worked at FinBank for several years. She studied fashion design in the UK for one year. She established Supreme Stitches, her fashion house, in a three-bedroom apartment in Surulere, Lagos. She was one of the best designers in the country and became recognized for endorsing Nigerian culture through her works and clothing.

She expanded her business interests and applied for the allocation of an oil prospecting license in May 1993. Her company, Famfa Limited, was granted the license to explore for oil on a 617,000-acre block, known as OPL 216. She entered into a joint venture agreement with Star Deep Water Petroleum, a subsidiary of Texaco, and appointed the company as a technical advisor for the exploration of the license. Some 40 percent of her 100 percent stake was transferred to Star Deep.

She married Modupe Alakija (1976), a lawyer and the couple raised four boys together. She is known for her philanthropic work through the Rose of Sharon Foundation. She was appointed as the vice chairman of the Nigerian National Heritage Council and Endowment for the Arts. #africanhistory365 #africanexcellence

[smlblogtv]

Latest Petrol Price Hike News, Update On Fuel Scarcity For November 10th, 2024

As Nigerians continue to groan over the recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News brings you the latest update on petrol scarcity, fuel price increase and Govt/citizens’ reactions. Fuel Scarcity: ‘Petrol Price Will Rise To ₦1,200/Litre, Naira To Hit ₦1,550/$’ An economist and the Chief Executive Officer of Financial Derivatives Company…

[ejesgistnews]

Court filings have revealed a significant legal battle, with major implications for Nigeria’s petroleum sector, as Dangote Refinery attempts to monopolize the industry. A counter-affidavit submitted by Ali Abiodun, the acting managing director of AYM Shafa Limited, warns of the catastrophic consequences if the refinery’s request for exclusive importation rights is granted. Dangote Refinery, valued at $20 billion, is suing the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to revoke importation licenses issued to key oil companies, including NNPC, A.A. Rano Limited, Matrix Petroleum Services Limited, and AYM Shafa. The lawsuit, filed in the Federal High Court in Abuja, claims these companies engage in anti-competitive practices. In a 74-page document exclusively obtained by Politics Nigeria, Abiodun states that granting Dangote exclusive rights would severely harm Nigeria’s economy. "Vesting the plaintiff with monopoly power in Nigeria’s petroleum industry will stifle competition, worsen the economy, and create widespread hardship," he asserts. Abiodun also highlights concerns that eliminating other importers would lead to severe petroleum shortages, exacerbating Nigeria's already fragile economy. Legal experts argue that granting Dangote’s request could violate Nigeria’s international obligations under the World Trade Organization (WTO) and other trade treaties. The case is set to be heard in January 2025. Dangote Refinery Faces Criticism Over Unfair Practices Abiodun also exposed what he described as unfair business practices at Dangote Refinery. He highlighted instances where buyers are forced to deposit more than 110% in Letters of Credit (LC), with prices communicated only after the product is loaded. "This oppressive practice harms businesses, particularly smaller ones, who cannot operate under such conditions," Abiodun added. Dangote Refinery Finally Reveals How Much It Sells Petrol Amid Dispute with Marketers BREAKING: Dangote Refinery Sues NNPCL, Matrix, and Four Others, Seeks License Revocation, Demands N100bn from NMDPRA The AYM Shafa head also challenged Dangote’s claimed refining capacity. He questioned the refinery’s ability to produce 35 million liters of Automotive Gas Oil (AGO) and 9 million liters of Jet A-1 daily, demanding verifiable evidence. Despite this skepticism, AYM Shafa remains one of Dangote’s first customers, having loaded over 190 million liters since the refinery began operations in April 2024. Concerns Over Nigeria’s Energy Security The court documents also reference global trends in petroleum importation, citing examples from major oil-exporting nations. Despite possessing vast refining capacities, countries like the United States, Saudi Arabia, and the UAE continue to import refined petroleum products as part of their energy security strategies. Abiodun emphasized that countries with substantial refining infrastructure still rely on imports to maintain energy security. “Saudi Arabia, with a refining capacity of 2.9 million barrels per day, still imports refined products for strategic reasons,” he noted. A Call Against Monopolization in Critical Sectors In his conclusion, Abiodun urged the court to consider the long-term impacts of creating a monopoly in Nigeria's petroleum sector. "No nation has ever achieved sustainable development by fostering monopolies in vital sectors. Allowing Dangote Refinery to control Nigeria’s petroleum industry would undermine the nation’s energy security and economic stability." This legal clash marks a pivotal moment in Nigeria’s petroleum industry, with stakeholders and regulators alike keeping a close eye on the outcome. As the case progresses, it will shape the future dynamics of Nigeria’s energy sector and the broader economy. Related Developments: Last month, Aliko Dangote, CEO of Dangote Refinery, claimed the refinery processes approximately 420,000 barrels of crude daily, with over 500 million liters of petroleum available for sale.

However, these figures have been disputed by industry stakeholders, including oil marketers. Dangote Refinery’s pricing strategies continue to spark controversy, particularly as it seeks to assert dominance in the marketplace, despite challenges from competitors. Ejes Gist News understands that this unfolding drama highlights the growing tension between Dangote Refinery’s expansion efforts and the need for fair competition in Nigeria’s petroleum sector.

[newsbreak365blogs]

Nigerians have slammed Dangote Refinery over its refusal to reveal its Premium Motor Spirit (Petrol) price months after the company began fuel distribution. This comes after Dangote Group on Saturday, through its official X account, denied claims by petroleum marketers that Dangote PMS is sold between N1,115 and N1,028 per litre. Yakubu Suleiman, National Assistant […]