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Tag: NNPC

NNPCL Increases Petrol Price to N992 Per Litre Amid Limited Fuel Supply

Wale busari01 mins

The Nigerian National Petroleum Company Limited (NNPCL) has increased the price of petrol to N992 per litre, up from N865 per litre. As of now, the company has not provided any official explanation for the hike. Visits to NNPC retail outlets by The Nation revealed attendants adjusting pumps to reflect the new rate. At the Ojodu Berger station on Ogunusi Road, attendants confirmed they were instructed to update the price to N992 per litre. However, checks at Ibafo along the Lagos-Ibadan Expressway showed some NNPC stations still displaying the old price of N875 per litre, though they were not selling fuel to motorists. Most of the NNPC outlets visited were not dispensing petrol, highlighting ongoing shortages despite the price increase.  

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NNPC Boss Blames PENGASSAN Strike For Surge In Cooking Gas Prices

NNPC Boss Blames PENGASSAN Strike For Surge In Cooking Gas Prices

Wale busari03 mins

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has attributed the recent spike in the price of cooking gas to the industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). Ojulari, who spoke to journalists after meeting with President Bola Tinubu at the Presidential Villa in Abuja on Sunday, said the strike temporarily disrupted loading and distribution, leading to supply shortages and an artificial price surge. “The increase you saw was relatively artificial because during the strike, loading and movements were delayed for about two to three days,” he explained. “That delay affected distribution, and as the system normalises, prices are expected to ease gradually.” He also noted that some gas retailers took advantage of the situation to hike prices, exploiting the temporary scarcity. “In Nigeria, people take opportunities. With that short delay, some dealers who had stock raised prices unnecessarily,” Ojulari added. The NNPC boss assured Nigerians that normalcy would soon return to the market, saying, “Now that operations have resumed, prices should drop back to their previous levels.” The nationwide strike by PENGASSAN, triggered by the sacking of some Nigerian workers at the Dangote Refinery, had disrupted fuel and gas supply chains. The industrial action was, however, suspended on October 1 after the intervention of the federal government. Following negotiations, the Dangote Group agreed to reinstate the affected workers, paving the way for normal operations and the anticipated stabilisation of cooking gas prices across the country.  

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NNPC, Zuid Energies Partner on New CNG and LNG Plants in Ajaokuta

Fola Badmus02 mins

By Kamal Yalwa August 2, 2025 The Nigerian National Petroleum Company (NNPC) Gas Marketing Limited (NGML), a subsidiary of NNPC Limited, has signed a joint venture agreement with Zuid Energies Limited to construct compressed natural gas (CNG) and liquefied natural gas (LNG) plants in Ajaokuta, Kogi State. The announcement was made during the Mobility-CNG Stakeholders Workshop in Abuja, themed “Deepening Industry Alignment for a Sustainable Mobility-CNG Sub-Sector.” The event brought together regulators and downstream operators to explore collaborative solutions for Nigeria’s energy transition and expansion of commercial gas opportunities. Under the agreement, the new gas infrastructure will include: According to a statement from the NNPC, the initiative underscores NGML’s commitment to “leveraging private sector partnerships to deliver innovative virtual pipeline solutions for efficient gas supply to off-grid and underserved areas.” The new project adds to a growing list of gas infrastructure developments in Ajaokuta. Earlier in January, NNPC began constructing five mini-LNG plants in the area with a combined target output of 97 mmscfd. These include: The Federal Government continues to prioritize CNG as part of its clean energy and mobility agenda, in line with its national gas expansion program.

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NNPCL Restates Commitment to Oil, Gas Development in Northern Nigeria

Fola Badmus01 mins

The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to the exploration and development of oil and gas resources in northern Nigeria. Yusuf Usman, a director at NNPCL, gave the assurance on Wednesday during a government-citizen engagement session organized by the Sir Ahmadu Bello Foundation in Kaduna. Usman disclosed that the company has drilled four wells in the Kolmani area of Bauchi State and is currently assessing the appropriate technology for the next phase of drilling operations. He also announced that five Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) plants are under construction in Kogi State as part of President Bola Tinubu’s CNG Initiative. The plants are expected to improve gas supply and accessibility across the northern region.

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Petrol Price Hits ₦945/Litre at NNPC Stations Amid Soaring Global Oil Prices Petrol Price Hits ₦945/Litre at NNPC Stations Amid Soaring Global Oil Prices

NNPCL Slashes Petrol Price to N910 per Litre in Abuja Following Dangote Refinery’s Adjustment

Fola Badmus02 mins

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets in Abuja. News360 Nigeria reports that NNPCL stations at locations such as Zone 6, Kubwa Expressway, and Wuse Zone 4, on Saturday, lowered their pump price from N945 to N910 per litre — a N35 decrease. The move brings significant relief to motorists grappling with high fuel costs in recent weeks. This reduction comes just four days after Dangote Refinery cut its petrol ex-depot price from N880 to N840 per litre, citing a drop in global crude oil prices. Independent marketers have also responded, adjusting their pump prices accordingly. In Abuja, prices have dropped to between N930 and N940 per litre, down from N945–N975, while Lagos motorists now pay around N890, a reduction from the previous N925 per litre. Industry watchers see the development as a potential signal of further fuel price stabilisation, depending on global market trends and domestic supply improvements.

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NNPC, Dangote biker over Petrol pump price 

Fola Badmus04 mins

The Nigerian National Petroleum Commission (NNPC) and Dangote Refinery are at loggerheads over the price of Premium Motor Spirit otherwise known as petrol.  Both parties have issued conflicting press statements on the matter in the recent time.  The NNPC Ltd, in a statement by signed its Chief Corporate Communications Officer, Olufemi Soneye on Monday, the Company has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. The NNPC Ltd also wished to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.  The NNPC Ltd confirmed that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.  The NNPC Ltd assured that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.  Dangote Refinery however denied selling the product to the Nigerian National Petroleum Corporation (NNPC) at N898.  The Group refuted the claims in a statement on Sunday.  The statement read; “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL. “This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years. “We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars. “It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing.  With this action, there will be petrol in every local government area of the country regardless of their remote nature. “We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country.”

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Dangote Refinery denies selling PMS at N898

Fola Badmus02 mins

Dangote Refinery has denied selling Premium Motor Spirit (PMS) otherwise known as petrol to the Nigerian National Petroleum Corporation (NNPC) at N898.  The Group refuted the claims in a statement on Sunday.  The statement reads; “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL. “This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years. “We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars. “It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing.  With this action, there will be petrol in every local government area of the country regardless of their remote nature. “We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country.”

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