The Nigerian National Petroleum Company Limited (NNPCL) has said that it has no desire or intention to become the sole distributor of Dangote refinery Limited (DRL). It added that Dangote refinery and any other domestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products. It emphasised that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the Dangote refinery. NNPCL Chief Corporate Communications Officer, Olufemi Soneye, made this known in a…
Author: Hints News
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, has proceeded on an indefinite leave of absence. While Ngilale may have been forced to resign his position, he blamed it on health issues. The former media aide who also served with former President Muhammadu Buhari never showed any sign of ailment until his sudden resignation. TheHintsNews reports that Ngelale’s trouble started in May when he overruled a statement issued by the president’s Special Adviser on Information and Strategy, Bayo Onanuga. Onanuga had released a statement announcing that President Bola Tinubu would address a joint session of the…
Bishop of Sokoto Dioceses, Bishop Matthew Kukah has called on President Bola Tinubu and the leaders of the All Progressives Congress (APC) to reduce the price of petrol to ease the suffering of Nigerians. Recall that the NNPCL on Tuesday, September 3, 2024 raised the pump price of petrol to N897 per litre from the official price of N617. The recent increment in the price of fuel has added to the excruciating pains Nigerians are going through in the hands of Tinubu-led government. Kukah who spoke at the formal unveiling of the APC Progressive Institute on Friday in Abuja stated…
The Arewa Youth Council (AYC) Friday urged President Bola Tinubu to immediately direct the anti-corruption agencies to probe activities surrounding Ajaokuta steel company which is at 98 percent completion since inception in 1979. The group also called on the president to ensure the proper completion and operationalisation of the steel company in order to fulfill its potential as a driver of industrialisation and economic development in Nigeria. Its President, Balarabe Rufai, while speaking in Abuja hinted that Ajaokuta steel company was a critical national asset that was established in the 1970s to drive industrialisation and economic development in Nigeria. It,…
Ahead of the September 21st Edo state governorship election, the Independent National Electoral Commission (INEC) has revealed that it has put in place measures to minimise circulation of false information. It added that 892 journalists have been accredited to cover the election. INEC National Commissioner and Chairman, Information and Voter Education Committee, Sam Olumekun disclosed while addressing a press conference on Friday in Abuja. He stressed that the press briefing became necessary knowing the crucial role, the media play in shaping democracy. Olumekun pointed out that the engagement with media organisations was no doubt timely as preparations for the conduct…
The Nigerian Institute of Transport Technology (NITT) and the National Youth Council of Nigeria (NYC) have highlighted the importance of youth as a critical component of nation-building, stating that without them, there would be no nation. The Director General of NITT, Dr. Bayero Farah stated this while receiving an Award of Excellence from the NYCN, Sabon Gari Branch, in Abuja. He expressed his gratitude to the youth council for the honour, stating that it motivates him to contribute even more to the socio-economic development of the country. Farah added, “The youth have a significant role in making this country great.…
A group, Conference by Empowerment for Unemployed Youth Initiative (EUYI) has called for the immediate sack of the Minister of State Petroleum, Sen. Heineken Lokpobiri, and Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) Limited, Mele Kyari over the recent fuel hike. Its National Coordinator, Danesi Momoh, in a statement issued on Thursday in Abuja said the vast majority of Nigerians can no longer feed or go out to look for work as a result of the fuel hike. He noted when the NNPCL lied that Port Harcourt refinery would start functioning in December 2023, Lokpobiri did…
The House of Representatives Committee on Petroleum Resources (Upstream) has called on the federal government and the Nigerian National Petroleum Company Limited (NNPCL) to suspend the increase in pump price and immediately revert to the old price of petrol. Recall that the NNPCL on Tuesday September 3, 2024 raised the pump price of petrol to N897 per litre from the official price of N617. However, the Committee Chairman, Hon. Alhassan Doguwa in a statement issued Thursday said NNPCL should consider the plight of Nigerians and suspend this recent increase in pump price. He said: “As a committee, we urge the…
Contrary to the statement credited to Dangote refinery, the Nigerian National Petroleum Company Limited (NNPCL) has said that foreign exchange (forex) illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS). This, it said, is governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA), 2021. TheHintsNews reports that Dangote refinery had claimed that only NNPCL can determine the prices of petrol. Speaking on TVC News’ “Journalists’ Hangout” show on Thursday, the Executive Vice President of Downstream, NNPCL, Mr. Adedapo Segun considering the fact that the market has been…
The pan-Yoruba socio-cultural and socio-political organization, Afenifere, has called on the federal government to immediately order the Nigerian National Petroleum Corporation Limited (NNPCL) to reverse the recent increase in pump price. TheHintsNews reports that NNPCL on Tuesday September 3, 2024 raised the pump price of petrol to N897 per litre from the official price of N617. The announcement came just a few days after the national oil company said it was facing challenges of huge debt burden estimated at $6.8 billion. Afenifere in a statement signed by its spokesman, Jare Ajayi, said ironically, the announcement of the debt came just…