The Nigerian National Petroleum Company (NNPC) Limited is awaiting technical assessment reports from two Chinese firms before deciding on further investments to revive the Port Harcourt and Warri refineries.
Many motorists say in spite of the discount in pump price of petrol at the Nigerian National Petroleum Company Ltd (NNPCL) filling stations, they are yet to access the product.
Announced amid renewed pressure from high fuel prices, rising transport costs and persistent household hardship, the initiative is being presented by the government as a targeted intervention to cushion the impact of global crude oil price volatility without returning the country to the costly petrol subsidy regime abolished in May 2023.
In a statement issued on Friday, October 9, NNPC’s Chief Corporate Communications Officer, Andy Odeh, said the company remained committed to supporting the Federal Government’s efforts to cushion the economic impact of higher fuel costs.
The Nigerian National Petroleum Company Limited (NNPCL) has agreed to waive its retail profit margin on petrol for the next 30 days as the Federal Government unveils a raft of measures to cushion Nigerians from the impact of surging global crude oil and petrol prices.
Workers at Port Harcourt Refining Company have threatened to shut down the facility if the Nigerian National Petroleum Company (NNPC) Limited fails to address their grievances over seven months of unpaid salaries and the non-implementation of a new salary structure within 48 hours.
The report stated that the ₦473.8 billion loan was granted to NGIC “to fund the Nigeria–Morocco Gas Pipeline cash call commitments, equity injection to AGPC, and finance the AKK Pipeline Project.”
The disclosure highlights the substantial financial obligations associated with protecting oil and gas infrastructure against crude oil theft, pipeline vandalism and other disruptions, even as NNPC reported higher production and a 33 percent increase in profit after tax.
The Nigerian National Petroleum Company (NNPC) Limited has recorded a profit after tax of ₦7.2 trillion for the financial year ended December 31, 2025, representing a 33 percent increase from the ₦5.4 trillion posted in 2024.
The latest controversy centres on N107 trillion in receivables and N103 trillion in payables or accrued expenses in NNPC Ltd.’s audited financial statements for the 2023 financial year.
An Akwa Ibom State High Court sitting in Uyo has dismissed a petition seeking the dissolution of a marriage that has lasted over 43 years, ruling that lack of love and mutual respect between spouses does not, on its own, constitute sufficient legal grounds for divorce.
