Tag: NNPC
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Tinubu approves write-off of $1.42bn and ₦5.57tn NNPC debt
Overview: A Bold Fiscal Move President Bola Tinubu has directed a sweeping write-off of significant debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The decision, which covers approximately $1.42 billion and ₦5.57 trillion, marks a pivotal intervention in Nigeria’s petroleum and public finance landscape. The approval, captured in…
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Tinubu Approves Write-Off of $1.42 Billion and ₦5.57 Trillion NNPC Debt
Key Move: Tinubu Greenlights Debt Write-Off for NNPC Ltd In a landmark decision, President Bola Tinubu has approved the write-off of substantial arrears owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The measure cancels roughly $1.42 billion and ₦5.57 trillion in outstanding debts, a development that could have wide-ranging…
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Tinubu Approves Write-Off of $1.42 Billion, ₦5.57 Trillion NNPC Debt
Overview: A Landmark Debt Forgiveness for NNPC In a move that could shift the trajectory of Nigeria’s public finances, President Bola Tinubu has approved the cancellation of substantial debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The write-off amounts to about $1.42 billion and ₦5.57 trillion, aimed at…
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Tinubu Approval Clears $1.42 Billion, N5.57 Trillion NNPC Debt to Federation Account
Overview of the Debt Cancellation President Bola Tinubu has approved a significant write-off of debts that the Nigerian National Petroleum Company Limited (NNPC) allegedly owed to the Federation Account. The move, which follows a detailed reconciliation of records, results in the elimination of about $1.42 billion and N5.57 trillion from the financial ledger. The decision…
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Nigeria Grants Massive Debt Write-Off: NNPC Debts to Federation Account Slashed
Overview: A Landmark Debt Cancellation President Bola Tinubu has approved a sweeping cancellation of a significant portion of debts owed by the Nigerian National Petroleum Company Limited (NNPC) to the Federation Account. The reconciliation process reportedly cleared about $1.42 billion and N5.57 trillion, marking one of the largest debt write-offs in recent Nigerian fiscal history.…
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Achieving 1.8mbpd by 2026: Ojulari outlines Nigeria’s oil roadmap
Nigeria’s oil ambition gains traction Nigeria’s energy leadership is signaling renewed confidence in a higher oil output trajectory. Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), has asserted that an oil production benchmark of 1.8 million barrels per day (mbpd) by 2026 is achievable. This projection sits at…
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Can Nigeria hit 1.8mbpd oil benchmark by 2026? Ojulari forecasts ambition tied to $30bn by 2030
Nigeria sets ambitious oil and gas targets for 2026 and beyond Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), recently outlined a bold trajectory for Nigeria’s oil and gas sector. He asserted that an 1.8 million barrels per day (mbpd) oil benchmark for 2026 is achievable, provided the…
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Nigerian Oil Outlook: 1.8 mbpd Benchmark for 2026 Within Reach, Ojulari Says
Overview: Gearing Up for a 1.8 mbpd Benchmark by 2026 In a notable briefing, Bashir Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, outlined an optimistic trajectory for Nigeria’s oil industry. He asserted that a benchmark of 1.8 million barrels per day (mbpd) for oil output by 2026…