Nigerian National Petroleum Corporation
Senator Lawan: Nobody is above scrutiny of the National Assembly
President of the Senate, Ahmad Lawan, has said that nobody is above the scrutiny of the National Assembly. Lawan stated this in his closing remarks moments before the Upper Chamber adjourned plenary till September 15, 2020. Speaking on the gains of a harmonious working relationship between the Legislature and the Executive arm of Government, the Senate President advised appointees of the President against needless confrontation with the Committees of the National Assembly. According to him, engagements with Ministries, Departments and Agencies of Government by the Committees of the National Assembly are carried out to serve public interest and in accordance with the provisions of the 1999 Constitution as amended. “As for what has been happening recently, let me take this opportunity to adv...
Senator: NNPC’s audit report underscores readiness for transparency
Sen. Bassey Akpan, Chairman, Senate Committee on Petroleum Upstream, says the published Audited Financial Statement of the Nigerian National Petroleum Corporation (NNPC) is an indication of its readiness to ensure transparency in its operations. Akpan made this known while briefing newsmen in Abuja on Tuesday. “The recently published audited financial statement of the NNPC, also goes a long way to underscore the readiness of the new management under the GMD, Malam Mele Kyari, toward pursuing transparency, good governance and also accountability in the industry. “Nobody used to know what happens in the NNPC; but I think we are beginning to see results, and we can actually attest to the fact that this is in line with the new spirit. “I must commend President Muhammadu Buhari for the trust an...
Senate calls for quick diversification of economy, frowns against high cost of oil production
The upper chamber of the National Assembly has called on the federal government to quickly diversify the economy, following the high cost of oil production without commensurate result. Berating the Nigerian National Petroleum Corporation (NNPC) for the high cost, which resulted into marginal profit of just $3 per barrel for the country, the Senate noted that the high cost of oil production in the country is higher than other oil producing nations. This development was noted when when officials of NNPC appeared before the Senate Committee on Finance. The Senate also noted that the high cost of oil production which is $21.2 per barrel, almost equaling $25 per barrel oil price benchmark fixed for the N10.509 trillion 2020 revised budget. The upper chamber expressed its displeasure when the Ch...
NNPC explains parameters for employment, career progression
The Nigerian National Petroleum Corporation (NNPC) has explained the parametres for employment as well as career progression in the corporation, using the recently concluded Graduate Trainee employment process as well as top Management promotion exercise executed by the corporation as an illustration. The National Oil company says unblemished academic competence, logical thinking, ability to engage meaningfully in problem solving in addition to federal character are key to becoming an employee of the corporation. To progress in the Management cadre, professional competence, accountability and transparency as well as ensuring national spread in top management positions are critical factors that are not negotiable. Explaining the parametres, NNPC Group General Manager, Group Public Affairs D...
Akwa Ibom governor commends ExxonMobil’s donations
Gov. Udom Emmanuel of Akwa Ibom has commended ExxonMobil for donating equipment and items worth millions of naira to curb the outbreak of coronavirus pandemic in the state. Emmanuel, who was represented by Dr Emmanuel Ekuwem, Secretary to the State Government, gave the commendation in Uyo on Saturday. He expressed the government’s profound appreciation to ExxonMobil for the kind gesture and for demonstrating its pride of place as Akwa Ibom’s number one corporate partner. “The items received would be a significant support boost to the state government’s effort to contain the scourge of the COVID-19 pandemic in the state,” the governor said. ExxonMobil’s donation included WHO-standard RNA COVID-19 test kits for 1,920 tests, 1000 units of samples collection kits, two brand new ambulances and ...
Minister lauds NNPC, offers land for hospital
As the battle against COVID-19 rages, the Minister of Federal Capital Territory Administration (FCT), Mr Muhammad Musa Bello, has commended the leadership of the Nigerian National Petroleum Corporation (NNPC) for rallying the oil and gas industry to support the nation to defeat the pestilence. Speaking at the NNPC Towers during a courtesy call on the Group Managing Director on Thursday, the Minister said he was impressed with the quality of interventions coming from the NNPC-led oil and gas industry coalition. Bello, who also commended the GMD for his sterling performance since assumption of office, said the FCT Administration had been holding discussions with the NNPC Medical team on the possibility of developing a healthcare facility in Abuja for the benefit of all residents and other Ni...
National Assembly leadership meets finance minster over 2020 budget amendment
The Leadership of the National Assembly on Thursday met with the Minister of Finance, Budget and National Planning to be briefed by the latter on the plan by the Federal Government to amend the N10.59 trillion 2020 budget passed by the National Assembly in December last year. The meeting which had in attendance principal officers from both chambers, was presided over by the President of the Senate, Ahmad Lawan, and the Speaker of the House of Representatives, Femi Gbajabiamila. The Senate President, in his welcome address told the Executive arm of Government to ensure that the interest of Nigerians remains protected in the proposed cut to the 2020 national budget. Lawan also expressed the willingness of the Federal lawmakers to expeditiously consider the proposed amendment to the 2020 budg...
Edo marketers defy petrol price reduction
AHA Taxis Independent petroleum Marketers within Benin metropolis in Edo, have continued to dispense petrol at N125 per litre in deference to the recently announced pump price of N108 per litre. It would be recalled that the Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol to N108 per litre This was the second time the NNPC has dropped the price of petrol after its first reduction on March 19, 2020, to N125. However, investigation shows that filling stations across Benin, the capital city of Edo, still maintained their old pump price of N125 per litre. Speaking in separate interviews on Saturday, motorists lamented that five days after the directive, all the filling stations, including the NNPC Mega station, had refused to ad...
PDP rejects N108 ex-depot fuel price, insist on N70 pump price
The Peoples Democratic Party, PDP, has rejected the new ex-depot price of N108 per litre of the Premium Motor Spirit insisting on a new pricing template that must accommodate a pump price of between N60 to N70 per litre to reflect the crash in the price of crude oil and petroleum products in the international market. The party described the N108 ex-depot price as fraudulent and a far cry from the appropriate pump price template that should not exceed N70 given the prevailing situation in the international oil market. In a statement issued by the national publicity secretary of the party, Kola Ologbondiyan, the PDP maintained that the N108 ex-depot price with a projected additional N9 per litre Expected Open Market “completely unacceptable to Nigerians.” The statement read: “The federal gov...
Petrol to sell at N117 per litre as PPMC cuts ex-depot prices
AHA Taxis The Petroleum Products Marketing Company (PPMC), Wednesday, slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N108 per litre, a move reflecting the drop in crude oil prices. It is also expected to result in a lower pump price at petrol stations by end of this week. In a memo to oil marketers and other stakeholders in the petroleum marketing business, dated May 5, 2020, with the subject: ‘Re: PPMC Petroleum Products Prices for May 2020,’ the PPMC also slashed the ex-depot price of Automotive Gasoline Oil, also known as diesel, to N164 per litre for depots in Lagos and N166 per litre for depots in Oghara, Calabar, Port Harcourt, among others. The indicated that the new prices would take effect from May 5, 2020. The ex-depot price is the price at whi...
