JUST IN: Substandard fuel: NNPC threatens legal action over viral video

Published

2 years ago

February 15, 2025

597 Views

The Nigerian National Petroleum Company Limited, NNPCL, has threatened to take legal action over a viral video in which a reviewer claimed its petrol does not last long in vehicles.

NNPC spokesperson Olufemi Soneye issued the threat in a statement on Saturday.

The state-owned oil firm dismissed claims made in the viral video that its product doesn’t last when compared with Dangote Refinery’s petrol.

NNPC described the originators of the viral video as economic saboteurs who are desperate to misinform the public.

“This misleading video represents yet another desperate attempt by economic saboteurs to misinform the public and tarnish NNPC Ltd.’s reputation.

“We will not tolerate deliberate misinformation designed to undermine our operations and mislead Nigerians.

“Henceforth, NNPC Ltd will take firm legal action against individuals or groups who intentionally spread falsehoods about our brand and operations.

“Those engaged in such malicious activities will be held fully accountable under the law,” the statement reads.

NNPCL added that most PMS in its Lagos retail outlets are sourced from Dangote Refinery.

Recall that a viral video of a reviewer claiming that NNPCL petrol products don’t last long as Dangote Refinery went viral on the social media.

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

133 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.