Nigeria Faces Growing Fuel Crisis: Latest Update On Petrol Price Hike And Shortages

Nigeria Faces Growing Fuel Crisis: Latest Update On Petrol Price Hike And Shortages

As Nigerians continue to express frustration over the recent hike in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, ireporteronline,provides the latest developments regarding the ongoing fuel shortage,...READ MORE…

price surge, and reactions from both the government and citizens.

New NNPC/First E&P Floating Storage Facility to Increase Oil Output by 60,000bpd

The Minister of State for Petroleum Resources, Heineken Lokpobiri, announced that Nigeria’s crude oil production would be enhanced by 60,000 barrels per day (bpd) thanks to a new Floating Production Storage and Offloading (FPSO) facility operated by NNPC and First E&P Joint Venture.

During his inspection of the facility in Bayelsa State, Senator Lokpobiri shared that the FPSO, named ‘Abigail Joseph’ and currently producing 60,000 bpd, is expected to ramp up to 70,000 bpd soon, with plans to reach 100,000 bpd in the near future. This development is seen as a significant boost to Nigeria’s oil production capabilities.

NNPCL Seeks to Have Dangote Refinery’s Lawsuit Dismissed

The Nigerian National Petroleum Company Limited (NNPCL) has filed a petition asking the Federal High Court in Abuja to dismiss the lawsuit filed by Dangote Petroleum Refinery and Petrochemicals FZE, arguing that it is without merit.

In a preliminary objection submitted to Justice Inyang Ekwo, NNPCL, represented by its legal team led by Kehinde Ogunwumiju, SAN, contended that the case was premature. The lawsuit, filed on November 15, 2024, seeks two primary orders: one to dismiss the case due to lack of jurisdiction, and another to remove NNPCL from the legal proceedings. NNPCL presented a six-point argument challenging Dangote Refinery’s standing to bring the case forward.