THE Academic Staff Union of Universities (ASUU) and the Committee of Vice Chancellors of Nigerian Universities have strongly criticised the FG’s 40% IGR deduction plan, labelling it detrimental to the university system. In a letter dated October 17, 2023, titled ‘Implementation of 40% automatic deduction from internally generated revenue of …
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REPORTS have emerged that fuel queues have returned to some parts of Lagos State as oil marketers have stopped the importation of Premium Motor Spirit, popularly called petrol. Trojan News Media understands that seven oil marketers reportedly imported petrol about a month ago but have stopped because of the forex crisis. It …
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THE Nigerian National Petroleum Company, NNPC Limited has reacted to speculations that it is nursing a plan to increase its pump prices. Reports earlier emerged that the landing cost of the Premium Motor Spirit, popularly called petrol, jumped from N651/litre to N720/litre. This fueled speculations that the pump price of …
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THERE are indications that pressures are mounting on the pump price of petrol as the landing cost has risen by 19.3 per cent to N596.93 per litre as of yesterday, from about N500 per litre in July 2023, when the last pump price adjustment was effected across all retail outlets …
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The Nigerian National Petroleum Corporation (NNPC) Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market. NNPC Limited secured the funding from the AFRIEXIM bank headquarters in Cairo. The NNPC Ltd. and AfriEXIM bank have jointly signed a commitment letter and …
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The Nigerian National Petroleum Company Limited (NNPCL) has further jerked up pump prices of Petrol, known as Premium Motor Spirit (PMS) from 537 to 617 naira Per Litre. Recall that in May a day after President Tinubu was sworn into Power the Nation’s Apex Petrol station increased the fuel price …
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The Nigerian National Petroleum Corporation Limited (NNPCL) has confirmed an upward review of pump price of petrol. Garba Deen Muhammad, Chief Corporate Communications Officer, NNPC Ltd, confirmed this in a statement on Wednesday afternoon. NNPC Limited wishes to inform our esteemed customers that we have adjusted our pump prices of …
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The Nigerian National Petroleum Company Ltd has resumed an oil drilling campaign at the Wadi-B located in Jere Local Government Area of Borno State. The NNPC resumed drilling after it stopped drilling in Wadi-B in 1995 because back then successes were weak and findings made during the period were not …
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THE funds we have been spending on subsidies could buy us brand new refineries off the shelf. The NNPC awarded homongous contracts for the rehabilitation or refurbishment of our four national refineries, and by the terms of the contract, all the refineries should have been delivered by now However, all …
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The Northern Youth Council of Nigeria (NYCN) has told the Group Chief Executive Officer of Nigeria National Petroleum Corporation Limited (NNPCL), Kolo Mele Kyari, to step aside to allow for an unfettered probe by the House of Representatives into the payment of N20 billion to a ghost consultant. The group …
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