ABUJA — The Nigeria National Petroleum Company (NNPC) has expressed concern about the sudden appearance of queues in parts of the Federal Capital Territory, Abuja. General Manager, Group Public Affairs Division of the NNPC, Garba Deen-Mohammed, in a statement, however, assured residents not to panic as normalcy would return as quickly as possible. According to the statement, the queues are due to low load-outs at Depots, which usually happen during long Public Holidays; in this...

ABUJA — Lawmakers in the lower chamber of the National Assembly have expressed worry over the outrageous rise in the cost of diesel and cooking gas, launching an investigation into the cause. Presenting the motion at the plenary on Tuesday, Hon. Chike John Okafor, (APC, Imo State) lamented the outrageous rise in the price of diesel, as the product which was sold between N280 to N350 per liter three weeks ago is currently being sold...

ABUJA — The Nigerian National Petroleum Company Limited is to deduct N242.53bn as subsidy on Premium Motor Spirit, popularly called petrol, from the Federation Account this month. Although it described the proposed subsidy deduction as a value shortfall, the oil firm stated that the fund would be recovered from February 2022 proceeds due for sharing in the March 2022 Federation Account Allocation Committee meeting. The NNPC disclosed this in its latest presentation to the FAAC...