Latest update on fuel price hike, fuel scarcity for November 22nd, 2024

As Nigerians express their frustrations over the recent fuel price hikes by the Nigerian National Petroleum Company (NNPC) Limited, IDOMA VOICE presents the latest updates on petrol scarcity, rising fuel costs, and the reactions from both the government and citizens.

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

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has announced that Nigeria’s crude oil production will increase by 60,000 barrels per day (bpd) thanks to a new floating storage facility operated by NNPC and First E&P Joint Venture.

During a recent inspection of the Floating Production Storage and Offloading (FPSO) facility, located on OML 83/85 in Bayelsa State, Lokpobiri expressed optimism about the facility’s contribution to Nigeria’s oil output. Known as ‘Abigail Joseph,’ the FPSO is already producing 60,000 bpd and is expected to ramp up to 70,000 bpd soon, with plans to reach 100,000 bpd in the near future.

NNPCL Seeks Court to Dismiss Dangote Refinery’s Lawsuit Over Import License

The Nigerian National Petroleum Corporation Limited (NNPCL) has petitioned the Federal High Court in Abuja to dismiss a lawsuit filed by Dangote Petroleum Refinery and Petrochemicals FZE. The refinery had sought a ruling over the import license, but NNPCL argues that the case is premature.

In a legal motion presented by NNPCL’s legal team, led by Kehinde Ogunwumiju, SAN, the corporation seeks to have the case dismissed due to lack of jurisdiction and to have NNPCL removed from the proceedings. The case, filed on November 15, 2024, is labeled as FHC/ABJ/CS/1324/2024, and NNPCL asserts that Dangote Refinery lacks the standing to pursue the lawsuit.