Renegotiated Business Contracts Earned NNPC 35% Discount in 2016


Chineme Okafor in Abuja

The Nigerian National Petroleum Corporation (NNPC) has said that in 2016, it renegotiated and got substantial discounts of between five and 30 per cent in all of its existing business contracts.

It also said that Nigeria’s crude oil and gas reserves have risen to 37 billion barrels (bbls) and 192 trillion cubic feet (tcf) respectively on account of the relative peace in the Niger Delta region.

A statement from NNPC’s Group General Manager Public Affairs, Ndu Ughamadu, quoted the Group Managing Director of the corporation, Dr. Maikanti Baru, to have said these in his end of the year message to its workers.

Details later…