Auditor-General: NNPC Paid Over $51m to Contractors Under Questionable Circumstances
Auditor-General’s 808-page report exposes $51m in questionable payments made by NNPC to contractors. Findings detail systemic financial rule violations, weak internal controls, and unverified contract executions. Report raises fresh concerns…
NNPC Moves to Raise Stake in Dangote Refinery to 20%
NNPC plans to increase its equity in the $20bn Dangote Refinery from 7.2% to 20%. The move aims to boost local refining capacity and cut Nigeria’s fuel import dependence. Stake…
U.S. Seizes $2.5m Los Angeles Mansion From NNPC Official Paulinus Okoronkwo After Money Laundering Conviction
U.S. court orders forfeiture of $2.5m mansion linked to NNPC official Paulinus Okoronkwo. Judge John Walter rules that funds used in purchase were proceeds of money laundering. Asset to be…
PETROAN Urges Technical, Equity Partnerships for Port Harcourt Refinery Revival
PETROAN backs NNPC’s T&E model and UOP assessment contract Oil marketers push for foreign technical partners to boost refinery efficiency Revival seen as crucial for competitive pricing, local economy, and…
NNPC Declares N1trn Profit in Eight Months, But Federation Gets Zero Dividend
NNPC posts N1.06trn profit from PSC profit oil January–August 2025 Despite 40% rise in May, no dividend remitted against N2.16trn projection Think tank warns NNPC delivered just 15% of its…
Paulinus Okoronkwo: Ex-NNPC GM convicted in US over $2.1m bribe, faces 10-year prison sentence
A US jury finds Paulinus Okoronkwo guilty of bribery, money laundering, tax evasion. Payment disguised as legal fees to secure drilling rights in Nigeria. Faces up to 10 years in…
NNPC Targets November Completion for AKK Gas Pipeline After Multiple Delays
AKK gas pipeline currently 86% completed; NNPC deploys additional subcontractors to fast-track project. Mechanical completion scheduled for November 30, 2025, following successful River Niger crossing. Pipeline to deliver 2.2 billion…
IPMAN Asks Members to Quit Services with NNPC Depot in Enugu
IPMAN has directed members to quit their services with NNPC loading depot in Enugu. The directive followed the attack and invasion of the IPMAN secretariat in Enugu depot by the…
Don’t Award Pipelines Surveillance Contract to Tompolo, Arewa Youths Tell Buhari
The Arewa Youths Assembly has called on the Federal Government to not award a contract for oil pipelines surveillance to Niger Delta freedom fighter, Government Oweizide Ekpemupolo, popularly known as…
FG Discovers 4km Illegal Pipeline in Delta
The Nigerian National Petroleum Company Limited (NNPCL) has uncovered an illegal 4-kilometre pipeline from Forcados terminal to the sea. It said the terminal has been a loading port for the…