Despite declaring profit, NNPC 2020 audited financial statement shows revenue fell by 19.76%
By Obas Esiedesa – Abuja Despite declaring a profit in its operations for the 2020 financial year, published audited financial statement of the Nigerian National Petroleum Corporation, NNPC, has shown that its revenue fell by 19.76 per cent in 2020 to N3.718 trillion from N4.634 trillion declared in 2019. The Corporation had last week declared […]
Petrol Subsidy: NNPC under pressure as Bonny Light rises by 150% to $65/b
By Ediri Ejoh There are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or subsidy as the price of Bonny Light rises to $65 per barrel in May 2021. This showed an increase of 150 per cent when juxtaposed against $26 […]
Petrol Subsidy: NNPC under pressure as Bonny Light rises by 150% to $65 per barrel
…As investors, others call for complete deregulation By Udeme Akpan THERE are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or a subsidy as the price of Bonny Light rises to $65 per barrel in May 2021. This showed an increase […]
NNPC makes U-turn, says FAAC remittance will be boosted
By Obas Esiedesa The Nigerian National Petroleum Corporation, NNPC, on Friday reversed its decision to make zero contribution to the Federation Account Allocation Committee, in the month of May, due to high cost of petrol subsidy. The Corporation in a statement by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru explained that […]
Sanwo-Olu lauds Total/NNPC and Partners over Medical Oxygen Plant
By Sebastine Obasi Residents of Lagos, Nigeria will no longer grapple with the dearth of medical oxygen in the wake of the COVID-19 pandemic, as Total/NNPC and their partners, Sapetro, CNOOC, and Prime 130 have built a medical oxygen plant for the State. Commissioning the facility at the Gbagada General Hospital, Gbagada, Lagos, Governor Babajide […]
Petrol: No remittance to FAAC in May after N111bn subsidy deduction – NNPC
By Obas Esiedesa The Nigerian National Petroleum Corporation has warned that it would not make any remittance to the Federation Account Allocation Committee in the month of May after spending N111.966 billion to subsidy petrol consumption in March. NNPC’s Chief Financial Officer, Umar Isa in a letter to the Accountant General of the Federation explained […]
