A Federal High Court in Abuja on Tuesday restored Senator Ifeanyi Godwin Ararume as non-Executive Chairman of the Nigeria National Petroleum Company Limited (NNPCL). The court voided the sack of the businessman and set aside his removal effected on 17th January 2023 by President Muhammadu Buhari on the ground that the action of the President was “arbitrary, unlawful and illegal”. …

The appointments of Malam Mele Kyari and Mr Umar Ajiya to the Nigerian National Petroleum Company Limited (NNPC Ltd) have nothing to do with their careers in the old NNPC, according to the Chief Corporate Communications Officer of NNPC Limited, Mr Garbadeen Muhammad. In a statement on Wednesday night, Muhammad said before their new appointments, Kyari and Ajiya were Group …

The Senate on Wednesday indicted 37 Ministries, Departments, and Agencies (MDAs) of the Federal Government for various financial infractions. The alleged offences are contained in the 2016 report of the Auditor General of the Federation (AuGF) which was adopted by the Senate. The resolution of the Red Chamber followed its consideration of the report of the Senate Public Accounts Committee …

NNPC Limited on Tuesday officially took over Oil Mining Lease (OML) 123/124 and 126/137, operated by Addax Petroleum Development (Nigeria) Limited after concluding all transaction obligations. The deal ends a 24-year production-sharing contract arrangement between both parties. In a statement by its Chief Corporate Communications Officer, Garba Deen Muhammad in Abuja, NNPCL said the transfer was achieved three months after …

The National Association of Energy Correspondents (NAEC) has called on the NNPC Limited and Nigerian Upstream Regulatory Commission to find a lasting solution to the lingering fuel scarcity in the country. A statement signed by the association’s chairman, Olu Phillips, and secretary, John Meze, lamented that the development has led to man-hour loss, which ought to have been put into …

The NNPC Limited has said that it has established a Build, Operate and Transfer (BOT) plan for the renovation of pipelines and depots around the nation. It added that the initiative would successfully diversify the means of delivering petroleum products around the country, and that contracts for the BOT will be granted to successful investors this year. At the 23rd …

The Nigerian National Petroleum Corporation Plc (NNPC) deducted over N3.3 trillion from January to November, last year to pay for fuel subsidy. The deductions were made from revenue the NNPC was supposed to remit to the Federation Account. This is contained in the Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee (PMSC) report presented to FAAC on Tuesday in Abuja. The …

Former chairman of the Senate Committee on Local and Foreign Debts, Ifeanyi Ararume has filed a N100 billion suit against President Muhammadu Buhari at a Federal High Court in Abuja over his alleged unlawful removal as a non-Executive Chairman of the Nigeria National Petroleum Company Limited (NNPCL). Ararume is claiming damages from the Federal Government as a result of the …

Premium Motor Spirit (well known as fuel or petrol) sold for between N198 and N200 in Lagos, Ogun, and Oyo States on Tuesday against the official pump price of N165 as more filling stations complained of short supply. Vehicular queues lengthened in the few stations that had supplies while bus stops were crowded by stranded commuters, who were agitated by …