•Nationwide oil firm in talks to safe $2bn for pipeline improve
•Presidency: Regardless of write-off of $1.42bn, N5.57tn debt, $42bn stays in dispute
•Says Escravos–Lagos pipeline restored to full operations
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
The Nigerian Nationwide Petroleum Firm Restricted (NNPC Ltd) is planning to promote stakes in a few of its oil and fuel property and has already referred to as for bids, a report by Reuters mentioned yesterday.
Quoting an invite doc, it acknowledged that bidders should register on-line by January 10, after which pre-screening will comply with and certified companies will acquire entry to a safe digital information room.
However two of Nigeria’s influential oil sector unions had in September this 12 months strongly opposed the federal government’s reported plans to divest important stakes in three way partnership property managed by the NNPC.
Particularly, the Petroleum and Pure Fuel Senior Workers Affiliation of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Pure Fuel Staff (NUPENG) had warned that such strikes might destabilise the financial system, weaken the oil trade, and jeopardise the welfare of employees.
Each organisations rejected the proposal to chop authorities stakes in Joint Enterprise (JV) property by as a lot as 30–35 per cent. Presently, the federal authorities holds between 55 and 60 per cent of such property by means of the NNPC.
In keeping with the invitation doc, prequalification will likely be primarily based on technical and monetary capability, adopted by doc analysis, negotiations and regulatory approvals.
Nigeria has struggled to spice up crude output and entice funding and is concentrating on incremental progress by means of manufacturing from marginal onshore fields vacated by worldwide companies.
Additionally, the NNPC is discussing $2 billion in financing from Nexus Alliance, an organization that helps pipeline infrastructure, based on individuals with data of the matter, Bloomberg reported yesterday.
Nigeria’s over 5,000 kilometres oil and fuel pipeline community, as soon as the spine of the nation’s power export and home provide system, has lengthy suffered from intensive inoperability and disruptions attributable to repeated vandalism, theft, sabotage and infrastructure decay.
A lot of main pipelines that transport crude from producing fields to export terminals, and pure fuel to energy crops and LNG services, are regularly out of service or working beneath capability.
Regardless of current enhancements in safety, underinvestment, ageing infrastructure and the persistent menace of vandalism imply that many pipelines stay weak and intermittently inoperable, with direct penalties for Nigeria’s oil output, export earnings and home power provide.
Nevertheless, the report famous that the state-owned oil producer expects to obtain the funds early subsequent 12 months and can use the cash to restore and improve pipelines broken by theft and vandalism whereas decreasing leaks.
The NNPC has sought contemporary capital in current months as a part of a broader refinancing effort, together with discussions with lenders primarily based in Saudi Arabia, based on the individuals.
The corporate, which goals to raise oil output to a minimum of 1.8 million barrels a day and enhance fuel manufacturing, targets to draw funding of $30 billion by 2027, one of many individuals informed Bloomberg. It expects to get midway to that aim in 2026.
NNPC has a longstanding ambition to promote shares by way of an preliminary public providing and is attempting to enhance transparency and accountability to make progress in direction of that aim.
Checks by THISDAY confirmed that Nexus Alliance Restricted is a Nigerian-headquartered firm that specialises in coaching, consulting, and asset efficiency administration options for power, industrial, and infrastructure sectors, notably oil & fuel, power, petrochemicals and associated industries.
In the meantime, the NNPC has introduced the profitable restoration of the Escravos–Lagos Pipeline System (ELPS) in Warri, Delta State.
Following the surprising explosion on December 10, 2025, the corporate mentioned it instantly activated its emergency response, deployed coordinated containment measures, and labored tirelessly with multidisciplinary groups to make sure the broken part was repaired, pressure-tested, and safely recommissioned.
“At the moment, the pipeline is absolutely operational, reaffirming our resilience and dedication to power safety. This achievement was made potential by means of the unwavering help of our host communities, the steerage of regulators, the vigilance of safety companies, and the dedication of our companions and employees.
“Collectively, we turned a difficult second into successful story, restoring operations in document time whereas upholding the best requirements of security and environmental stewardship. As we transfer ahead, NNPC Restricted stays steadfast in its pledge to guard the environment, safeguard our communities, and keep the integrity and reliability of our property,” the assertion signed by the NNPC spokesman, Andy Odeh, acknowledged.
Moreover, the presidency on its X deal with yesterday mentioned that regardless of President Bola Tinubu’s write-off of NNPC’s $1.42 billion and N5.57 trillion, the $42.37 billion (which the NNPC has denied owing) stays contentious.
It confirmed that Tinubu has accredited the cancellation of a considerable portion of NNPC excellent money owed owed to the Federation Account, successfully wiping out roughly $1.42 billion in legacy obligations, following suggestions from the Stakeholder Alignment Committee on reconciling indebtedness between NNPC and the Federation.
The debt cancellation, it mentioned, coated legacy obligations as much as December 31, 2024, together with: Manufacturing Sharing Contracts (PSCs), Home Provide Obligations, compensation agreements, modified carry preparations and Joint Enterprise / PSC royalty receivables.
It famous that corresponding accounting changes have already been made within the Federation Account.
“New obligations for January-October 2025 stay excellent and are actively being tracked and recovered. A separate, long-running dispute over an alleged under-remittance of $42.37 billion (2011-2017) stays unresolved, with NNPC rejecting the claims and insisting all revenues had been correctly accounted for,” the fabric posted on X acknowledged.
