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Post-Buhari Nigeria And The Looming Crisis

Post-Buhari Nigeria And The Looming Crisis

April 10, 2023 3:25 am

The end of a horrifying eight-year tenure of one of Nigeria’s greatest political mistakes is barely two months away, and sadly, while Nigerians should be celebrating the release of the shackles from their necks, they rather shiver in fear of what greater penury they might be descending into.

In 2015, when many Nigerians sang the praises of Muhammadu Buhari as the one who had come to save Nigeria from the evil clutches of the then People’s Democratic Party, PDP, those blessed with hindsight and foresight could see that there was no way the same Buhari who had dealt drastically and …

Daily Fuel Supply Still 68m Litres, NNPC Clarifies

Daily Fuel Supply Still 68m Litres, NNPC Clarifies

September 5, 2022 6:19 am

Reports reaching Africa Daily New, New York has it that the Nigerian National Petroleum Company, NNPC Limited, has agreed and pledged to submit itself for a financial audit of gasoline supply and subsidy management while adamant that the amount of petroleum supplied each day stayed at 68 million.

Group General Manager, Group Public Affairs Division, NNPC, Mallam Garba Deen had in an announcement made around January and August 2022, ‘the total volume of Premium Motor Spirit, PMS, imported into the country was 16.46 billion liters, which translates to an average supply of 68 million liters per day.’

‘Similarly, import …

Marketers, Not FG Responsible For Abuja Fuel Queues - Sylva

Marketers, Not FG Responsible For Abuja Fuel Queues – Sylva

July 7, 2022 3:49 am

The Minister of state for petroleum, Timipre Sylva on Wednesday asserted that marketers are to blame for the long queues for fuel in the nation’s capital while also absolving the Federal Government of any guilt.

Speaking to reporters after the weekly Federal Executive Council (FEC) meeting on Wednesday, Sylva asserted that the NNPC has a very good supply of the product at the moment hence the queues and scarcity were unexplainable.

‘Frankly, it is not a supply issue, as you can also confirm. So it’s not from us. But you know When you have an arbitrage opportunity, people will tend …

Oilserv To Takeover Maintenance Of NNPC Pipelines

Oilserv To Takeover Maintenance Of NNPC Pipelines

May 15, 2022 12:26 pm

Oilserv Limited, an indigenous Engineering Procurement, and Contract (EPC) company has announced its plans to bid for all moribund Nigerian National Petroleum Company Ltd. (NNPC) pipeline distribution systems to ease products distribution chain.

The Group Chairman of Oilserv Ltd., Mr Emeka Okwuosa made it known to reporters on the sidelines of the just-concluded Offshore Technology Conference (OTC) in Houston, Texas, U.S.

He said that Frazimex Engineering Ltd., a subsidiary of Oilserv, had submitted a tender to NNPC in this regard.

Read Also: We’ll Deduct ₦242bn Fuel Subsidy From FAAC This Month –NNPC

Oilserv Group is the company handling the …

Prepare For Worst Fuel Scarcity, Marketers Warn Nigerians

Prepare For Worst Fuel Scarcity, Marketers Warn Nigerians

May 11, 2022 5:30 am

The Independent Petroleum Marketers Association of Nigeria has called on Nigerians to prepare for the worst fuel crisis following recent developments in the energy sector.

As a way of averting this, the petrol marketers association have appealed to the Federal Government to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to pay its members their outstanding bridging claims amounting to over ₦500 billion.

The IPMAN chairman in Kano State, Bashir Danmalam, made known while addressing a news conference in Kano State on yesterday.

Read Also: Africa Must Prepare For A Global Food Crisis, Says Adesina

He said the …

Queues Set To Lessen As NNPC Releases 381M Litres Of Fuel

Queues Set To Lessen As NNPC Releases 381M Litres Of Fuel

March 6, 2022 11:44 pm

The scarcity of Premium Motor Spirit (PMS), popularly called petrol in Nigeria might soon be overpowered following claims by the Nigerian National Petroleum Company Limited (NNPC) that it has released hundreds of millions of litres of petrol to address the situation.

In its latest weekly national PMS evacuation report for February 21 to 26, 2022, which was sighted by Africa Daily News, New York, NNPC revealed that it evacuated an additional 381.88 million litres of petrol during the period.

Africa Daily News, New York recalls that about a week ago, the oil firm stated that it distributed a total of …

Why Modular Refineries In Nigeria Can’t Refine Fuel – NNPC

Why Modular Refineries In Nigeria Can’t Refine Fuel – NNPC

March 3, 2022 4:29 am

The Nigerian National Petroleum Company Limited has explained that one of the major reasons why modular refineries in Nigeria were not producing Premium Motor Spirit (PMS), popularly known as petrol, was because of the regulated pump price of PMS by government.

A modular refinery is a simplified refinery that requires significantly less capital investment than traditional full-scale refineries. They are crude oil processing facilities with capacities of up to 30,000 barrels per day.

Nigeria which is a major oil producer in Africa has a number of modular refineries located in Edo, Delta, Imo and other states, while plans are on …

NNPC Apologises To Nigerians Over Toxic Petrol, Scarcity

NNPC Apologises To Nigerians Over Toxic Petrol, Scarcity

February 17, 2022 3:50 am

The Nigerian National Petroleum Company (NNPC) has tendered an apology to Nigerians over the importation of toxic Premium Motor Spirit (PMS), popularly known as petrol, into the country.

The national oil company also regretted the damages which was done to the vehicles of motorists by the toxic fuel, as well as the resulting scarcity and long queues at filling stations in various parts of the country.

Africa Daily News, New York reports that the Group Managing Director (GMD), of NNPC, Mele Kyari, offered the apology on Wednesday during an interaction with the House of Representatives ad-hoc committee investigating the circumstances …

Fuel Scarcity NNPC Distributes One Billion Litres PMS

Fuel Scarcity: NNPC Distributes One Billion Litres PMS

February 16, 2022 4:12 am

The Nigerian National Petroleum Corporation Limited (NNPC), has revealed that it is has commenced the process of distributing one billion litres of safe Premium Motor Spirit (PMS), known as petrol, in its stock to various fuel stations nationwide to ease the scarcity of the product.

The NNPC also disclosed that about 2.3 billion litres of PMS would arrive Nigeria between now and February ending to address the current situation and restore sufficiency.

Mr. Adetunji Adeyemi, Group Executive Director, Downstream, NNPC made this disclosure on Tuesday in Abuja while briefing newsmen.

Adeyemi said this would address the situation and restore sufficiency …

Refineries Damaged Beyond Turnaround Maintenance - NNPC

Refineries Damaged Beyond Turnaround Maintenance – NNPC

October 30, 2020 3:59 pm

The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional.

It declared the refineries as damaged beyond the usual Turnaround Maintenance (TAM).

However, to revamp them, the national oil is embarking upon total rehabilitation of the plants, which despite currently being non-functional, gulp about N10 billion monthly in payment of salaries and other in-built costs.

Speaking yesterday on the third day of the virtual Oil Trading and Logistics (OTL) Africa Downstream Expo 2020, on the theme “ Petroleum Refining Trends and Outlook for Tomorrow’s Energy …

Refineries Damaged Beyond Turnaround Maintenance - NNPC

NNPC Releases 2019 Audited Financial Statement

October 16, 2020 5:33 am

The Nigerian National Petroleum Corporation (NNPC) has released its 2019 Audited Financial Statement (AFS).

It shows 99.7 percent reduction in its loss profile from ₦803bn in 2018 to ₦1.7bn in 2019.

The publication comes five months after NNPC made its 2018 AFS public.

NNPC spokesman, Kennie Obateru, in a statement on Thursday quoted the Chief Financial Officer, Umar Ajiya, as saying that the 2019 statement will be published on the corporation’s website for transparency.

Read Also: NNPC Almost Out Of Red Zone, Cuts Losses By 99.7%

He said this was in line with the principles of the Extractive Industries Transparency …

Refineries Damaged Beyond Turnaround Maintenance - NNPC

NNPC Almost Out Of Red Zone, Cuts Losses By 99.7%

October 15, 2020 11:52 am

The Nigerian National Petroleum Corporation (NNPC) has released its 2019 Audited Financial Statement with a 99.7% reduction in its loss profile from ₦803bn in 2018 to ₦1.7bn in 2019.

The new report comes five months after the corporation published its 2018 Audited Financial Statement,

The NNPC Chief Financial Officer (CFO), Mr. Umar Ajiya, said that the 2019 Audited Financial Statement, will be published on the Corporation’s website for all to see in keeping with Management’s commitment to transparency and accountability.

Ajiya also said the release will be in consonance with the principles of the Extractive Industries Transparency Initiative (EITI) of …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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