The Nigerian National Petroleum Company (NNPC) Limited has revived its push for a public listing on the Nigerian Exchange (NGX) as the ongoing Dangote Refinery share offer renews focus on the role of the capital market in expanding public ownership. However, the NNPC’s IPO plan faces a transparency test, with governance and reporting reforms still …
The Federal Government has clarified that the petrol discount offered by NNPC Retail Limited is not a return of fuel subsidy, saying the price reduction is being funded from the company’s retail margin rather than public revenue. Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, gave the clarification in a statement on …
The Nigerian National Petroleum Company Limited (NNPCL) has reported a 33 per cent increase in profit after tax (PAT) to ₦7.2 trillion in 2025, despite a 24 per cent decline in revenue to ₦34.5 trillion. The company, in its audited financial results for the year ended December 31, 2025, released on Tuesday, said the profit …
The Nigeria National Petroleum Company Limited (NNPC) revenue and profit witnessed a significant decline as oil production dropped in July. NNPC’s profit after tax fell by 47.9 per cent to N279 billion in July 2026 from N535 billion in June. This was contained in the NNPC Limited Monthly Report Summary for July 2026, released on …
…Project expected to become one of Nigeria’s largest deep-water developments, targeting 175,000 barrels of oil per day at peak production The Nigerian National Petroleum Company Limited (NNPC) and the contractor parties to Oil Mining Lease (OML) 118 have executed key contractual agreements to advance the Bonga Southwest/Aparo (BSWAp) deep-water project towards Final Investment Decision …
At a recent meeting with the board and management of the Nigerian Exchange Group (NGX) on August 7, President Bola Tinubu promised that the Nigerian National Petroleum Company Limited (NNPC) would be reformed and listed on the Nigerian Exchange, reviving decade-old talks about taking the national oil company to the capital market. For years, the …
The Nigerian National Petroleum Company Limited (NNPC) has declared that the Federal Government's newly signed Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026 will serve as a catalyst for achieving Nigeria's ambitious production target of 3 million barrels of oil per day by 2030. The landmark reform, officially titled the Deep Offshore …
The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of ₦535 billion for June 2026, a 15.8% increase from May's ₦462 billion. This figure is contained in the NNPC monthly financial and operations report for the month of June 2026. The figure marks the company's highest monthly profit in 10 months, driven …
The energy company plans to use proceeds for debt settlement and to pay shareholder dividends Seplat Energy has agreed to sell a 10% working interest in its joint venture assets with the Nigeria National Petroleum Company (NNPC) Limited for approximately $281.6 million. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd …
After years of failed attempts to get Nigeria’s refineries working, the Nigerian National Petroleum Company Limited (NNPCL) recently signed a Memorandum of Understanding (MoU) with two Chinese firms to support comprehensive rehabilitation of the facilities. The move has been described as a major regulatory and strategic pivot in Nigeria’s downstream petroleum sector. The MoU was …
