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DANGOTE Petroleum Refinery & Petrochemicals has clarified the volume of crude oil it receives from the Nigerian National Petroleum Company Limited (NNPCL) under the naira-for-crude arrangement, stating that the refinery currently gets five cargoes of crude oil monthly which are paid for in naira. The refinery, however, explained that the supply is far below its […]
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THE Economic and Financial Crimes Commission (EFCC) grilled the former Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, on Wednesday afternoon, over multi-billion controversial contracts, including a near $3 billion refinery outlay, during his tenure. He is not the only ex-NNPC chief that has been quizzed. Nearly all the […]
THE Bola Tinubu-led government must extensively probe the tenure of the former Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, over several allegations handing around his office. The Economic and Financial Crimes Commission (EFCC) is currently investigating Mr Kyari and other officials over the $2.896 billion allocated for refinery […]
DANGOTE Petroleum Industries has reduced the price of premium motor spirit (PMS), also known as petrol, six times in 2025. Several Nigerians have commended him for the price reduction, but Economy Post‘s findings have shown that the commendation is rather misplaced as PMS is cheaper in other oil-producing African nations. In Nigeria, petrol sells for […]
A RECENT video circulated on social media capturING men in police uniform scooping petrol from a fallen tanker. Four men in police uniform were seen with jerry cans scooping fuel beside a tiny expressway alongside other individuals without uniforms. The video berated the men in police unform for committing a crime they had been preaching […]
Oil marketers have urged the Federal Government to stop Dangote refinery from monopolising the petrol business. In a statement sent to Economy Post, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) said contrary to claims that oil marketers were not patronising Dangote refinery, members had bought 518,500 metric tons (MT) of automotive gas […]
NIGERIANS will pay about N950.22 for a litre of petrol at Lagos filling stations and as high as N1,019 per litre in Borno State amid the lingering cold war between Dangote Petroleum Refinery and the Nigerian National Petroleum Company (NNPC) Limited. With varied logistics costs, other states in Nigeria will pay on the basis of […]
PRESIDENT Bola Ahmed Tinubu spent N3.6 trillion on petrol subsidy in 2023 and will increase the expenditure to N5.4 trillion in 2024 despite a series of denials and lies by Aso Rock officials, including his ministers. The subsidy payments were exposed by a draft copy report of the Accelerated Stabilization and Advancement Plan (ASAP) presented […]
NIGERIANS are raising some questions regarding the deal between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Refinery, which is costing a total of $2.8 billion. NNPC Limited acquired a 20 percent stake in Dangote Refinery in 2021, paying $1 billion to the group owned by Africa’s richest man, Mr Aliko Dangote, through a […]
A NIGERIAN government parastatal is using non-existing companies to execute over $1 billion cleanup project in a Niger-Deltan community, investigations have shown. An establishment named Hydrocarbon Pollution Remediation Project (Hyprep) is charged with the responsibility of cleaning up the heavily polluted Ogoniland in Rivers State, South-South Nigeria, but it is using some phoney contractors to execute […]