NNPC Limited

But Nigeria's situation is different.

For example now, and some of the crude oil that we even have in Nigeria, we are not the one that has the full, the NNPC is not the one that has the full 100% on the crude oil that we even have.

Because I don't know whether you know that about the JV Venture.

We have a joint venture with top big, big oil companies like Shell, Chevron, stuff like that.

NNPC owns 55% of Nigerian fuel today.

Most of this fuel that you're seeing today, like I do say that we have like four loans from the past administration that we are using our crude oil to pay back.

So whenever I see people complaining about why is fuel cheap in Iran and why is fuel not cheap in Nigeria? you cannot compare the situation with each other besides another thing you should know in Nigeria and today that you talk about the purchasing power now let me brief you another thing do you know that in world economy right now top 20 PPP Nigeria is 19 on the table you do not know that another thing you should know in economy yeah I'm telling you PPP purchasing power priority go and check it Nigeria is 19 on the table another thing you should know today is that In a normal economy, if there is inflation in a country, the first thing you need to do is to reduce people purchasing power.

I want you to say specific things though.

And a bit of that work took me to institutional reforms, having to interact with a lot of government folks on public finance, financial finance, budget and planning, budget office, all sorts of agencies in oil and gas, everywhere.

So I was talking to everyone, NNPC, you know, we're in their face.

So this is how I ended up here.

And the skill is transferable.

And if you call Mele Kiari, you call Pius Akinye Iye Lure, he was well known in Lagos.

He was chairman of NNPC.

Ask them, when you sign the contract with the Wu and you pay the money, are the refineries not working? They will tell you they are working.

But they fired Mele, fine, for their own reasons.

So if you are a refinery, If your name is Mr. Greedy, you will take my deal.

Because I am giving you the crude and you give me white back.

That was what NNPC was doing called swap.

That got Desi Aine, Gideon McCurry and all those people into trouble.

The quarterly dividend was hiked 58% sequentially to $0.19, taking the total announced for the year to $0.40, against the full-year target of $0.45.

In addition, CEPLAT expects to return around half the proceeds of the 10% CEP new disposal to NNPC, representing a further $0.233 in prospective dividends, with the transaction expected to close this quarter.

Offshore drilling has been delayed as the rig was not available, and Sepplett is pursuing alternatives.

But on a more positive note, the Yaku 1 exploration well discovered just under 50 million barrels of oil equivalent in place, including an unexpected oil leg.

Quite honestly, on everybody, the pinch is there.

But thankfully, we are still able to say, okay, NNPC, take out the profit and let us sell it at bare minimum of what we are importing.

Senegal does not have that luxury.

And sadly, there is no nation that is isolated.

Crude supply to local refineries hits ninety-seven point four percent of allocated volumes in Q2 2026.

Committee rolls out nine-pillar roadmap on downstream energy security, dismisses petition against NNPC, EVP Dagazal.

INEC to consider petitions over omitted candidates Thursday to publish preliminary register of voters online.

FBI arrests nine in Nigeria over cybercrime, seizes fifty-three electronic devices.

NESG presents mixed outcomes for Nigeria's economic reforms.

Reps pass vote of confidence in Tinubu.

NNPC boss rejects blanket fuel subsidy return.

Vanguard Newspaper this morning.

Right? CBN was about printing.

NNPC was using code to borrow money.

And that was the result of the subsidy we were paying at the time.

Okay.

The Vanguard newspaper this morning, the Nigerian Tribune, Tinubu to Nigerians, we won't return to subsidy regime, says economy on right track, accuses predecessor of printing money recklessly.

Nigerian Tribune orders federal government to list NNPC, other key governmental assets on stock exchange.

Finance Minister alleged wiretapping.

Again, court dismisses RFI's 120 million rights violations.