Nigerian National Petroleum Corporation (NNPC) News

Igho Sanomi, Founder & Chairman, Taleveras Group

How 42-year old Nigerian oilman Igho Sanomi built a commodities trading giant

Igho Sanomi, 41, is the founder of Taleveras, a $2 billion (revenues) international commodities trading company active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas and power.

Anthony Joshua

Anthony Joshua: Fighting for Britain but fueled by Nigeria (by Chibundu Onuzo)

The champion’s origins are spelt out in his tattoo and his liking for pounded yam and egusi. But while he’s on the rise, the British press probably won’t report it.

GE proposes investing in Nigeria's oil refineries

GE proposes investing in Nigeria's oil refineries

General Electric Co has proposed investing in Nigeria’s oil refineries, potentially convening a consortium of companies to improve capacity at the facilities.

NNPC Towers, Abuja, Nigeria. Credit: iloveabuja.com.ng

Nigeria proposes broad oil sector overhaul and potential NNPC stock exchange listing

Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline the industry.

Aliko Dangote (Left), Kola Karim, Temitope Balogun (TB) Joshua & Ade Ayeyemi

How Nigeria's top tycoons made their fortunes

Between the politicians and the rich, there is considerable overlap. Running a political campaign is extraordinarily expensive in Nigeria, and many a senator is heard complaining, in private, about how much money is needed to buy a seat.

Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources and NNPC’s Group MD. Credit: sweetcrudereports.com

Nigeria aims to end refined petroleum imports within 18 months, says Kachikwu

Nigeria, Africa’s top oil producer, wants to remove the need for imported petroleum products within 18 months, Minister of State for Petroleum Emmanuel Ibe Kachikwu said on Tuesday.

Emmanuel Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources and NNPC’s Group MD

Nigeria to break state oil firm NNPC into 30 companies

Nigeria is to break up its state oil firm into 30 separate companies as it seeks to reform the organization, the country’s Minister of State for Petroleum Resources Ibe Kachikwu said Thursday.

Budget savvy: Yemi Osinbajo, Nigeria’s Vice President, is curbing spending.

Overhaul of Nigeria's government agencies aims to end excess

As well as being a professor of law, Nigeria’s new vice-president Yemi Osinbajo is a Christian pastor who preached at the same Evangelical church in Lagos as the new trade, investment and industry minister, Okechukwu Enelamah.

President Muhammadu Buhari of Nigeria

Nigerian cabinet hints at austere rule

For the best part of six months Nigerian President Muhammadu Buhari has kept everyone guessing about how he will run Africa’s most populous nation.

The Key Ministers in Nigerian President Buhari's Cabinet

Here are five key ministers in Nigerian President Buhari's cabinet

After more than seven months since he won election as president in Africa’s biggest economy, Muhammadu Buhari named his cabinet.

Muhammadu Buhari, President of Nigeria

Nigeria's cabinet: Seven people to watch in Buhari's team

Nigerians finally know the names of those who will form President Muhammadu Buhari’s cabinet, after the senate approved the list of 36 nominees, five months after the president took office.

Okechukwu Enyinna Enelamah, MD, CFA is the Founder & CEO of African Capital Alliance (ACA)

Nigeria's Buhari asks head of country's largest private equity firm to join cabinet

Nigeria’s President Muhammadu Buhari has asked the head of the country’s biggest private equity firm to join his cabinet, Senate President Bukola Saraki said on Tuesday, as lawmakers started screening candidates for a long-awaited government.

Nigeria's President Muhammadu Buhari

Nigeria's Buhari sends second batch of cabinet nominees to senate

Nigerian President Muhammadu Buhari has submitted a second list of candidates for his cabinet to the upper house of parliament for approval, Senate President Bukola Saraki said on his Twitter feed on Monday.

Chibuike Rotimi Amaechi (L), former Governor of Rivers State; Muhammadu Buhari (C), President of Nigeria; & Babatunde Fashola (R), former Governor of Lagos State

Nigeria's Buhari nominates Fashola, Amaechi as ministers

Nigerian President Muhammadu Buhari nominated four former state governors and the current head of the national oil company as ministers in his administration, according to a list presented to lawmakers in the capital, Abuja.

Muhammadu Buhari, President of Nigeria

Nigeria's Buhari submits cabinet nominees, announces he will serve as Petroleum minister

Nigeria’s President Muhammadu Buhari on Wednesday submitted names to serve in his cabinet, four months since taking office and after announcing he intended to take personal charge of the country’s crucial oil portfolio.

Tonye Cole, Co-Founder & Group Executive Director, Sahara Group

Nigeria's Sahara to raise up to $1.4B in London & Lagos IPOs along with debut dollar bond sale

Sahara Group, a Nigerian energy company, plans to raise as much as $1.4 billion through a dual listing of its oil and gas unit in London and Lagos along with a debut dollar bond sale.

Nigeria state oil group NNPC taps private sector for top ranks

Nigeria state oil group NNPC taps private sector for top ranks

The new head of Nigeria’s state oil company has tapped the private sector as part of an overhaul of senior ranks intended to clean up the entity at the heart of the country’s economy.

Mustafa Chike-Obi, CEO, Asset Management Corporation of Nigeria (AMCON)

Nigeria’s president replaces "bad bank" AMCON CEO Mustafa Chike-Obi with Ahmed Lawan Kuru

Nigeria’s President Muhammadu Buhari has replaced the CEO of the government-owned “bad bank” set up to resolve a financial crisis five years ago. This is Buhari’s second change of leadership of a key state company in a month.

Emmanuel Ibe Kachikwu, incoming Group Managing Director of NNPC

Nigeria's fuel subsidy unsustainable: Emmanuel Kachikwu, Managing Director, NNPC

The new head of Nigeria’s state oil company said on Thursday the country’s fuel subsidy was an unsustainable drain on the economy, calling for deregulation of the oil and gas sector.

Dr. Emmanuel Ibe Kachikwu (R), the new managing director of the Nigerian National Petroleum Corp (NNPC), shakes hands with the former Group Managing Director of NNPC, Dr. Joseph Thlama Dawha during a handover ceremony in Abuja, Nigeria, in this August 5, 2015 handout photograph made available to Reuters August 6, 2015.

Nigeria's new oil chief Emmanuel Ibe Kachikwu announces restructuring & audit

The new head of the Nigerian National Petroleum Corp said on Thursday that he had started a three-pronged restructuring of the state-owned company that should lead to “a new NNPC”.

Godwin Emefiele, Governor of the Central Bank of Nigeria

Full transcript: FT interview with Nigeria's central bank governor Godwin Emefiele

Godwin Emefiele, governor of the Central Bank of Nigeria, defends his approach to stabilising the naira as Africa’s biggest economy reels from the low world price of oil.

Emmanuel Ibe Kachikwu, incoming Group Managing Director of NNPC

Nigeria appoints former ExxonMobil Vice Chairman Emmanuel Ibe Kachikwu as Group Managing Director of state oil firm NNPC

Nigerian President Muhammadu Buhari has appointed Dr. Emmanuel Ibe Kachikwu as the Group Managing Director of the state oil firm, the Nigerian National Petroleum Corporation (NNPC).

Muhammadu Buhari, President of Nigeria

Nigeria's president to split state oil company NNPC into two entities

Nigerian President Muhammadu Buhari plans to split the state-owned Nigerian National Petroleum Corporation (NNPC) into two entities, his spokesman said on Saturday.

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Nigeria's New Direction: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Muhammadu Buhari’s inauguration on May 29, 2015 has taken Nigeria in a new direction, one that is so far characterized by national pride and international confidence.

Nigeria's President Muhammadu Buhari

Nigeria's president fires the entire board of state-run oil company NNPC

The President of Nigeria, Muhammadu Buhari, on Friday sacked the entire board of the state-run oil company, the Nigerian National Petroleum Corporation (NNPC).

Bryant (ABC) Orjiako, Chairman, Seplat. Credit: Oil & Gas Council

Nigeria's Buhari should sell stakes in oil and gas joint ventures, says Seplat Chairman ABC Orjiako

Nigeria’s new government should sell its stakes in joint ventures in the country’s energy industry, the chairman of Seplat Petroleum said on Monday, adding his company would be interested in buying, especially in the gas sector.

Muhammadu Buhari, President of Nigeria

Buhari advised to end fuel subsidy

Nigeria’s new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria’s four refineries, senior sources in his party told Reuters on Sunday.

Oando petrol station

Nigeria's four refineries to resume production next month, says NNPC official

Nigeria’s four refineries will resume production next month, a spokesman for the state-run oil group said Thursday, raising hope of an end to perennial petrol shortages that have plagued Africa’s largest crude producer.

Sub-Saharan Africa’s national oil companies have big ambitions but funding remains a challenge.

Sub-Saharan Africa's national oil companies have big ambitions. Funding remains a challenge: Rolake Akinkugbe, Head of Energy and Natural Resources, FBN Capital

In March, Saudi Aramco concluded a $10 billion standby revolving credit facility deal with 27 international lenders, the largest of its kind in the Gulf region for years. Even revenue-rich Saudi’s NOC needs large pools of capital from abroad.

Bolaji Osunsanya, CEO, Oando Gas & Power

Nigeria's Oando to truck compressed gas to industries

Oando Plc, a Nigerian energy company, is building a business to truck natural gas to industrial users whenever they are cut off from pipeline supply, an executive said.

Aliko Dangote, Africa's richest man, is investing $11 billion to build a 500,000 barrel/day refinery in Nigeria, scheduled to come online by mid-2018.

Is Nigeria poised for a massive refining boom?

President Obama was not among the heads of state at the inauguration of incoming President Muhammadu Buhari on May 29, 2015. However, in his private conversations with Nigeria’s new president, he might offer Mr. Buhari some encouragement that, beyond the friendship between their nations, they share something else in common.

David McIlroy, Head of Africa Investments, Alquity

Nigeria in political sweet spot after election: David McIlroy, Alquity's Head of Africa Investments

Muhammadu Buhari faces a catalogue of challenges after winning Nigeria’s presidential race, but his victory has put the frontier market on its strongest political footing in years.

Nigeria's new President Muhammadu Buhari rides in a motorcade while inspecting the guard of honor before his inauguration at Eagle Square in Abuja, Nigeria on May 29, 2015. Afolabi Sotunde—Reuters

Why change in Nigeria matters to the world: Madeleine Albright, former US Secretary of State

This week, something unprecedented is happening in Africa’s most populous country, where groundbreaking political change is underway.

The fuel search continues(Reuters/Afolabi Sotunde)

Nigeria's Goodluck Jonathan just did incoming Buhari a big favor with the fuel crisis

As Nigeria gradually pulls back from the brink of the ‘Petrocalypse‘, it is just the latest example of why the petroleum sector of one of the world’s biggest exporters needs urgent reform.

Nigeria’s President-elect Muhammadu Buhari

Buhari will release full audit on Nigerian National Petroleum Corporation (NNPC)

Nigerian President-elect Muhammadu Buhari’s administration will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended, his party’s policy director said.

Goodluck Jonathan, President of Nigeria

Nigeria should curb president's oil licensing powers, say lawmakers

The Nigerian president’s power to grant oil licenses should be removed and the government should float 30 percent of the state oil company, lawmakers recommended in a report on a bill aimed at cleaning up the industry in Africa’s top crude producer.

In happier times: Ngozi Okonjo-Iweala (Left), Nigeria’s Minister of Finance and former Managing Director of the World Bank; Sanusi Lamido Sanusi (Center), former Governor of the Central Bank of Nigeria; and Nigeria’s President Goodluck Jonathan (Right)

The most important job in Nigeria right now

In most countries, the position of central bank governor is one of a conservative low-key economist who only makes public utterances a few times a year around monetary policy.

Diezani Alison-Madueke, Nigeria's Minister of Petroleum

Nigeria's petroleum minister Diezani Alison-Madueke appointed Gas Exporting Countries Forum (GECF) president

Nigeria’s Petroleum Resources Minister, Diezani Alison-Madueke, on Tuesday emerged the new president of the Gas Exporting Countries Forum, GECF.

Steel Manufacturing

Nigerian Law May Usher in Billion-Dollar Steel-Pipe Business

Steel-pipe manufacturing in Nigeria is set to expand on the back of a law that reserves supplies to the energy industry for local companies, the implementing agency said.

Goodluck Jonathan, President of Nigeria

Nigerian president replaces state oil firm's leadership

Nigeria’s President Goodluck Jonathan has replaced the top four executives at Nigeria National Petroleum Corporation, his office said on Saturday, intervening in one of the country’s most powerful institutions and the source of 80 percent of government revenues.

At 2.5 million barrels per day, Nigeria is Africa's largest oil producer

India overtakes US as Nigeria's biggest oil importer

India has taken over from the US as the largest importer of Nigerian oil, the West African state’s national oil company has said.

Ngozi Okonjo-Iweala, Minister of Finance, Nigeria

Nigeria's Corruption Is Sensationalized: Ngozi Okonjo-Iweala, Minister of Finance, Nigeria (Video)

Nigeria’s finance minister, Ngozi Okonjo-Iweala, says Nigeria’s corruption is sensationalized and trivialized.