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NNPC Revenue Hits ₦2.68tn As Profit Crashes 64% In February.

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Nigerian National Petroleum Company Limited posted ₦2.68 trillion in revenue for February 2026, reflecting a 4.2 percent increase from the ₦2.57 trillion recorded in January.....KINDLY READ THE FULL STORY HERE▶

Despite the revenue growth, the company’s profit after tax fell sharply by 64.67 percent to ₦136 billion, down from ₦385 billion in the previous month, highlighting mounting operational and fiscal pressures.

According to NNPC’s February monthly report released on Saturday, earnings improved, but profitability weakened significantly.

The drop in profit was largely linked to increased statutory remittances to the Federal Government following a presidential directive that scrapped the 30 percent profit retention in the oil and gas sector.

As a result, NNPC’s remittance rose by 148.48 percent, climbing from ₦726 billion in January to ₦1.804 trillion in February.

The company said its contributions remain a major source of government revenue amid ongoing economic challenges.

Crude oil output drops

Crude oil and condensate production declined to 1.51 million barrels per day in February from 1.64 million barrels per day in January.

A breakdown showed crude oil production at 1.27 million barrels per day, while condensate stood at 0.24 million barrels per day.

NNPC attributed the decline to several operational setbacks, including the shutdown of the Trans Forcados Pipeline due to integrity issues, start-up challenges at Stardeep Agbami GTC 2 and 3 after maintenance, delays at the Sterling Oguali flow station, and production constraints at Enyie wells.

Gas output improves

Despite lower crude production, natural gas output rose strongly to 7,458 million standard cubic feet per day, one of the highest levels recorded in recent months.

However, gas sales stood at 4,893 million standard cubic feet per day on a two-month lag basis, slightly below peak levels seen in mid-2025.

Total crude oil and condensate sales for February stood at 23.08 million barrels, lower than the 28.64 million barrels recorded in October 2025, reflecting both production and evacuation challenges.

Fuel supply and infrastructure

On the downstream side, NNPC said fuel availability at its retail stations dropped to 58 percent, raising concerns over supply efficiency and possible shortages in some areas.

The company also reported progress on major gas pipeline projects aimed at boosting domestic supply and improving energy security.

The Ajaokuta-Kaduna-Kano gas pipeline project has reached 93 percent completion, with efforts ongoing to deliver early gas supply to Abuja and northern regions.

Similarly, the Obiafu-Obrikom-Oben gas pipeline project is now 96 percent complete, with drilling work continuing in collaboration with stakeholders.

NNPC reaffirmed its commitment to restoring production through improved operational efficiency, stronger infrastructure reliability, and faster resolution of evacuation constraints.

The report noted that all figures remain provisional and subject to reconciliation as efforts continue to stabilise production and unlock Nigeria’s oil and gas potential.

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Massive Military Shake-Up: COAS Replaces Top Generals, Names New GOCs And Commanders!.

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To bolster national security and enhance operational efficiency, Chief of Army Staff (COAS) Lieutenant General Waidi Shaibu has authorized a significant reshuffling of senior officers, impacting various command, operational, and staff roles. According to Acting Director of Army Public Relations, Colonel Appolonia Anele, this strategic reorganization aims to strengthen the Army’s capacity to tackle evolving security threats nationwide.....KINDLY READ THE FULL STORY HERE▶

  • Operational Commands: Major General WM Dangana replaces Major General EF Oyinlola as General Officer Commanding (GOC) 3 Division and Commander of JTF Operation ENDURING PEACE. Additionally, Major General EI Okoro succeeds Major General EE Emeka as GOC 6 Division and Land Component Commander of JTF South-South Operation DELTA SAFE.

  • Administrative and Support Roles: Major General JR Lar is now Commander of the Army Headquarters Garrison, while Brigadier General OM Oyekola has been named the Acting Military Secretary (Army). Brigadier General I Waziri will continue serving as Chief of Staff in the Office of the COAS.

  • Tactical and Specialized Units: Brigadier General IB Buhari has been appointed Commander of Headquarters 63 Brigade, and Brigadier General K Rabiu takes charge of Headquarters 31 Artillery Brigade. Furthermore, Major General SA Emmanuel was named Commander of the Nigerian Army Space Command to bolster technology-driven operations, while Major General O Adegbe becomes the Director of Intelligence and Security at Defence Headquarters.

  • Education and Institutional Development: New leadership appointments were also made for the National Defence College, where Major General KE Chigbu is now Deputy Commandant. Other roles include Major General SD Makolo as Commandant of the Nigerian Army Armour School, Major General SO Adejimi as Commandant of the Nigerian Army School of Supply and Transport, Major General FS Etim as Chief of Training at TRADOC NA, and Brigadier General U Ahmad as Commandant of the Depot Nigerian Army in Zaria.

  • Corporate Leadership: Major General KO Ukandu has been appointed Managing Director/CEO of Post Housing Development Limited (PHDL), and Major General AI Allison will lead Defence Properties Limited as Managing Director.

In his directive, the COAS tasked these officers with demonstrating professionalism, innovation, and leadership as they fulfill their mandate to protect Nigeria’s sovereignty and support civil authority. The Nigerian Army emphasized that this restructuring is part of a broader commitment to creating a combat-ready, professional, and people-oriented force dedicated to national security objectives.

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World Cup Heartbreak: Uruguay Sent Packing In Shock Group Stage Exit!.

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Ahead of the final group stage fixtures scheduled for Saturday, 12 countries have officially been eliminated from the 2026 FIFA World Cup. Following the matches played on Friday, Iraq, Uruguay, Saudi Arabia, and New Zealand became the latest teams to be knocked out of the competition.....KINDLY READ THE FULL STORY HERE▶

  • Iraq: Their tournament run ended after a 5–0 loss to Senegal, a win that keeps Senegal’s hopes alive for a knockout spot as one of the best third-placed teams.

  • Uruguay: The two-time world champions were eliminated following a 1–0 defeat to Spain.

  • Saudi Arabia: Despite managing a 0–0 draw against Cape Verde, the team was unable to remain in the competition.

  • New Zealand: A 5–1 loss to Belgium confirmed their exit, while simultaneously strengthening Belgium’s position to advance.

By the conclusion of the group stage, 16 teams in total will fail to progress to the knockout phase. The full list of eliminated nations includes:

  • Haiti, Turkey, Tunisia, Jordan, Panama, Qatar, Czech Republic, Curacao, Iraq, Uruguay, Saudi Arabia, and New Zealand.

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“We Are Overpaid!” Senator Ndume Sparks Outrage With Explosive Demand For Salary Cuts.

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Senator Ali Ndume, representing Borno South, has sparked a conversation on fiscal responsibility by admitting that National Assembly members are currently overcompensated. During a recent appearance on Trust TV’s Daily Politics on Friday, June 26, 2026, the senator argued that Nigeria’s spending priorities require a significant shift to better support military and security agencies, which are currently struggling with funding.....KINDLY READ THE FULL STORY HERE▶

Ndume contended that the high costs associated with maintaining government officials and lawmakers contrast sharply with the inadequate rewards for soldiers and police officers who risk their lives daily. Emphasizing that any serious dialogue on security funding must address the overall cost of governance, he maintained that he and his colleagues receive pay that exceeds what is appropriate.

In a candid admission regarding the cost of governance, Senator Ali Ndume stated that Nigerian lawmakers are currently being overpaid. Speaking on Trust TV’s Daily Politics on June 26, 2026, the Borno South representative urged the government to prioritize the funding of security agencies over the high salaries and allowances of top officials. Ndume stressed that those on the front lines, such as soldiers and police officers, deserve better support, and he reiterated his long-standing position that the current remuneration for public officeholders, including himself, is excessive.

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