ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE   ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).   To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.   The two nominees are seasoned professionals in the oil and gas industry.   Eyesan, a graduate of Economics f...
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NNPCL SETS RECORD STRAIGHT ON CRUDE OIL CONSTRACT WITH DANGOTE REFINERY. (PHOTO)

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The Nigerian National Petroleum Company Limited (NNPCL) has clarified reports circulating on social media about the alleged termination of its crude oil sales agreement in Naira with Dangote Refinery. According to Olufemi Soneye, NNPCL's Chief Corporate Communications Officer, the contract was a six-month agreement set to expire at the end of March 2025, with discussions ongoing for a new contract.


Under this arrangement, NNPCL has supplied over 48 million barrels of crude oil to Dangote Refinery since October 2024, with a total of over 84 million barrels supplied since the refinery's operations began in 2023.


NNPCL remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions. The Federal Executive Council (FEC) had directed NNPCL to sell crude oil to Dangote Refinery and other local refineries in Naira, aiming to reduce the strain on Nigeria's foreign exchange and stabilize fuel prices.

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