How First Bank’s Recklessness Endangered 93 Lives on Oil Rig, General Hydrocarbons Limited Reveals
A bitter dispute has erupted between General Hydrocarbons Limited (GHL) and First Bank of Nigeria (FBN) over allegations of recklessness, diversion of funds, and abuse of court processes. In a strongly-worded statement, GHL accused FBN of putting the lives of…
OIL PRICE SHOCKER: Global Markets Reel as Brent Crude Surges Amid US Sanctions on Russia
The global oil market was thrown into chaos on Monday as Brent crude prices skyrocketed to $81 per barrel, marking the highest price in over four months. The sudden surge was triggered by the latest US sanctions on Russia’s oil…
NNPC Limited Invites Ex-President Obasanjo to Verify Port Harcourt Refinery’s Operational Status
Hours after his revelation that Nigerian National Petroleum Company Limited (NNPC Limited), previously Nigerian National Petroleum Corporation (NNPC), rejected a $750 million offer from Aliko Dangote to manage the Port Harcourt and Kaduna refineries in 2007, the company has extended…
How NNPC Rejected Dangote’s $750 Million Offer to Manage Nigeria’s Refineries, Obasanjo Reveals
In a recent interview with Channels Television, former President Olusegun Obasanjo revealed that the Nigerian National Petroleum Corporation (NNPC), now Nigerian National Petroleum Company Limited (NNPC Limited) rejected a $750 million offer from Aliko Dangote to manage the Port Harcourt…
CNPP Hails NNPC Limited for Port Harcourt Refinery Rehabilitation, Calls for Greater Transparency and Accountability
The Conference of Nigeria Political Parties (CNPP) commended the Nigerian National Petroleum Company Limited (NNPC Limited) for successfully completing the long-awaited rehabilitation of the Port Harcourt Refinery after several failed self-imposed deadlines. This, according to the CNPP, is a significant…
Mixed Reactions as Port Harcourt Refinery Roars Back After Years of Dormancy
The Port Harcourt Refinery, one of Nigeria’s oldest and largest refineries, has resumed operations after years of dormancy, sparking mixed reactions from Nigerians. The refinery, located in Port Harcourt, Rivers State, has been undergoing rehabilitation and upgrade works since 2019,…
Tinubu Urges Stakeholders to Partner with Afreximbank to Resolve Naira Pricing for Crude, Refined Products
President Bola Tinubu has assured Nigerians that selling crude oil and refined products in Naira will stabilize the downstream sector, urging stakeholders to partner with Afreximbank to resolve naira pricing for crude and refined products. At a review meeting of…
NNPCL’s Release of N15 Billion Worth of Products Vindicates CNPP’s Allegation of Economic Sabotage
The Conference Of Nigeria Political Parties (CNPP) has reacted to the recent release of N15 billion worth of products to independent oil marketers by the Nigerian National Petroleum Company Limited (NNPCL). In a statement signed by its Deputy National Publicity…
Nigeria Opens Up Petrol Market: Marketers Can Now Buy Directly from Dangote Refinery
In a significant move to deregulate the petroleum market, the Federal Government has authorized petroleum marketers to purchase petrol directly from the Dangote refinery, bypassing the Nigerian National Petroleum Company Limited (NNPC). According to Wale Edun, Minister of Finance and…
AASU Commends Nigeria’s Giant Leap Towards Economic Independence with Dangote Refinery Aviation Fuel Deal
The All-Africa Students’ Union (AASU) has commended the Federal Government of Nigeria for its strategic decision to designate Dangote Refinery as the sole supplier of Jet A1 fuel to the aviation sector. The continental student union noted that the landmark…
CNPP Demands Immediate Presidential Intervention on Dangote Refinery Impasse, Warns of Looming Threat to Democracy
The Conference of Nigeria Political Parties (CNPP) has expressed deep concern over the lingering controversy surrounding the pricing of petrol from the Dangote Refinery, citing far-reaching implications for the economy, livelihoods, and democracy in Nigeria and Africa. “This discrepancy raises…
