Business
NNPC CEO Denies Fuel Importation Claims and Quality Issues
The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), Mele Kyari, has dismissed claims that the company imported 200 million litres of Premium Motor Spirit (PMS) in late February 2025.
Speaking at the 60th Nigeria Mining and Geosciences Society (NMGS) Conference in Abuja, Kyari clarified that NNPC has not imported a single litre of petrol since the start of the year.
He also addressed concerns over fuel quality, calling the allegations baseless and misleading. “The talk around fuel quality is unfortunate and just bad marketing. It’s all drama and entertainment. Regulatory agencies are doing their jobs, and none have reported substandard products in the country,” he said.
Kyari warned that spreading false information about fuel imports and quality could harm not just NNPC but the country’s reputation as a whole. He emphasized that while frustrations may exist, misinformation should not be used as a business tactic.
Addressing a viral video comparing NNPC’s fuel to Dangote’s, Kyari dismissed it as another example of misleading marketing. He reassured Nigerians that NNPC remains committed to maintaining fuel quality and transparency in its operations.
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
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