Petrol Nears ₦1,400 as Oil Prices Surge Amid Middle East Tensions
Pump prices of Premium Motor Spirit (petrol) are approaching ₦1,400 per litre across parts of Nigeria, driven by rising global crude prices linked to tensions between the United States and Iran and disruptions around the Strait of Hormuz. Benchmark crude, Brent crude, climbed from about $105 per barrel earlier in the week to $118, increasing […]
NNPCL Warns of Heavy Losses as PENGASSAN Strike Halts Oil, Gas Output
The Nigerian National Petroleum Company Limited (NNPCL) has raised alarm over the severe economic impact of the three-day strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which it said disrupted crude oil and gas production and cut power supply by 20 per cent. In a letter to regulators and security […]
SERAP asks NNPCL to account for N500bn not remitted to Federation Account
The Socio-Economic Rights and Accountability Project (SERAP), has asked the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Mr. Bayo Bashir, to account for and explain the whereabouts of the missing N500 billion that the NNPCL failed to remit to the Federation Account between October 2024 and December 2024, as revealed […]
