Nigeria now world’s largest importer of petrol- NNPC DG

Emmanuel Ibe Kachikwu, minister of state for petroleum, and Nigerian National Petroleum Corporation, Maikanti Baru, DG, NNPC

Maikanti Baru, Nigeria state oil company’s Group Managing Director said the country is the only member country in the Organisation of Petroleum Exporting Countries (OPEC) that imports petrol and is currently the largest importer of Premium Motor Spirit (PMS) in the world. The NNPC DG who spoke through Bello Rabiu, the company’s chief operating officer (COO), […]

Nigeria third best in data submission at OPEC

The Organisation of Petroleum Exporting Countries (OPEC), has commended Nigeria for ranking third among member countries in data submission. Omar Ibrahim, OPEC Governor for Nigeria, disclosed this at the OPEC Data Management Training Workshop in Abuja, on Monday. Ibrahim said Nigeria has done well in the provision of credible data in the oil and gas […]

Nigeria’s consumption of petrol declines 2.3% in 2017- statistics agency

Nigeria’s consumption of premium motor spirit (petrol) in 2017 declined by 2.3 percent in comparison with prior year, according to data released by the National Bureau of Statistics (NBS). The NBS data indicate that total consumption of premium motor spirit (petrol) fell to 18.36 billion litres in 2017 from 18.8 billion litres in 2016, a decline […]

Nigeria’s state oil company imports $5.8bn worth of fuel to curb crisis

Nigeria’s state oil company disclosed Tuesday that it had spent $5.8 billion on the importation of Premium Motor Spirit (PMS) since late 2017, in an effort to arrest the fuel shortage that has left people queuing for hours at filling stations and hobbled an already-struggling economy. Maikanti Baru, the company’s group managing director, represented by […]

Nigeria’s state oil company to import 100m litres of gasoline per day in Feb

Nigerian National Petroleum Corporation, NNPC, said it will import two cargoes of gasoline per day for the rest of February in order to boost supply and eradicate fuel queues in the shortage-hit nation. According to a statement released Thursday on the state oil company’s website, “each of the two cargoes is 50 million litres making […]

Nigeria’s state oil company sanitises fuel supply system, cracks down on marketers

Nigerian National Petroleum Corporation (NNPC) has announced its effort to sanitize petrol supply and distribution system in the country, so as to eliminate the persistent long queues in filling stations due to scarcity of the product. The company stepped up the arrest and prosecution of erring marketers and fuel hawkers across the country, according to Ndu […]

Nigeria, Niger plan joint refinery, to sign agreement soon

Nigeria and Niger have concluded plans to establish a new oil refinery to meet the petroleum products needs of the two nations.  The multi-million dollar plant will be located in the border town between the Republic of Niger and Katsina State, Nigeria. In a statement, Nigeria’s ministry of petroleum, Nigeria disclosed that: ‘’The Honorable Minister of State for Petroleum […]

Nigeria’s lower chamber urges President to sign petroleum bills into law

Yakubu Dogara, Speaker of Nigeria's house of representatives

Yakubu Dogara, Speaker of Nigeria’s house of representatives, has urged President Muhammadu Buhari to, as a matter of urgency, sign into law the Petroleum Industry Governance Bills (PIGB) passed into law by the National Assembly. This follows the passage of the legislation by the house of representatives on Wednesday, same as the version passed by […]