Nigeria’s state oil and gas company is planning to jumpstart an industrial boom in the north of the country thanks to a much-delayed gas pipeline, Reuters has reported, citing the chief executive of the Nigerian National Petroleum Company. “This is not just about energy,” Bashir Ojulari said. “It’s about industrialisation – fertiliser plants, power generation,...
Day: December 29, 2025
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FG writes off $1.42bn, N5.57tn NNPC debt after reconciliation
The federal government has written off the bulk of legacy debts owed by the Nigerian National Petroleum Company Ltd. (NNPCL) to the federation account, wiping out about $1.42 billion and N5.57 trillion following a reconciliation exercise approved by President Bola Tinubu. The decision, contained in a regulatory document prepared by the Nigerian Upstream Petroleum Regulatory...