NNPC

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.

NNPC Limited has welcomed the $800 million Final Investment Decision on the Ima Gas Project, describing the development as a major vote of confidence in Nigeria’s upstream gas sector. The Ima project, operated by TotalEnergies in partnership with...

The NNPC Exploration and Production Limited (NEPL)/Seplat Energy Joint Venture has launched a free week-long eye-care programme targeting more than 6,000 residents in Uyo, Eket and Ibeno, Akwa Ibom State.

The latest position comes amid renewed pressure from petroleum marketers for the Federal Government and NNPC Ltd to accelerate efforts to return the government-owned refineries to production.

Joseph Obele, National Public Relations Officer of PETROAN, made the call in a statement on Thursday, arguing that increased domestic refining would strengthen supply and reduce Nigeria’s dependence on imported petroleum products.

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is pursuing multiple pathways to transform Nigeria into a global gas hub, with plans to more than double the country’s proven gas reserves over the longer term.