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    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    LASTMA Introduces Drone Technology to Improve Traffic Management in Lagos

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

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    Egypt’s Enza Secures $6.75M to Drive Financial Inclusion in Africa

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    Stitch Teams Up with Standard Bank’s Shyft for Instant Wallet Top-Ups in South Africa

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

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    Pick n Pay Set to List Boxer Business in Africa’s Largest IPO of 2024

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    It’s important to set boundaries in entertainment industry – Reminisce

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    Flying Eagles moves to Ikenne for camping in prep for 2024 WAFU B U20 Championship in Togo

    EGUAVOEN APPOINTED NIGERIA FOOTBALL FEDERATION TECHNICAL DIRECTOR

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We Begged Buyers to Purchase Crude Oil at $9 Per Barrel in April – NNPC

by Eucharia Egwuma
November 24, 2020
in National
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We Begged Buyers to Purchase Crude Oil at $9 Per Barrel in April – NNPC
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 The Nigerian National Petroleum Corporation (NNPC), has said that the corporation begged buyers to purchase Nigeria’s crude oil at $9 per barrel in April, during the peak of the Covid-19 pandemic.

Group Managing Director (GMD), Mele Kyari, stated this on Friday at a media briefing with journalists in Abuja.

Brent crude, the global oil benchmark, plummeted to as low as $15.98 per barrel in April — its lowest since June 1999 — amid the collapse in demand and the price war between Saudi Arabia and Russia.

Admitting that the oil & gas industry is facing difficult times, Kyari said the corporation has continued to maintain its obligation to the federation account for seven months without fail, assuring that the corporation would declare dividend to Nigerians and shareholders by the end of 2020 despite the huge impact of COVID-19 pandemic on the oil and gas industry.

“NNPC has never published its audited financial statement in 43 years. We came and started doing that and released the 2018 financial statement. We were not afraid of doing that and there were a lot of criticisms that we lost money in refinery operations and pipeline business,” he said.

“I have been around in this company for 29 years and I have worked closely with top management of the NNPC for about 15 years. This is the only president who has never asked NNPC to do something. Under no circumstances has the president controlled what we do.”

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