Business
We are not selling employment slots—NNPC tell Nigerians
The Nigerian National Petroleum Company Limited (NNPC) Limited has firmly denied any allegations of involvement in the sale of employment slots to job seekers in the country.
Earlier in June, the Nigerian National Petroleum Company (NNPC) Limited opened a portal for qualified Nigerians to apply for various jobs opportunities in the organization.
Speaking on the recruitment process, the spokesperson of the company, Olufemi Soneye, said the recruitment would be for various positions across various departments within the energy company.
He directed interested applicants to visit the NNPC careers page for application instructions.
“NNPC Ltd is pleased to announce that we are currently hiring for multiple positions across various departments. We are seeking talented and dedicated individuals to join our team. Visit our careers page for application instructions,” Soneye stated.
The spokesperson of NNPC, Olufemi Soneye, made this disclosure in a statement on Saturday in Abuja.
The national oil company has categorically stated that there is no truth to the insinuations that it offers employment slots for sale to anyone willing to purchase them.
NNPC emphasized that such claims are entirely baseless and have no connection to the organization’s recruitment processes.
Describing these claims as the work of fraudsters, the company warned that these individuals are attempting to exploit unsuspecting applicants.
“The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has called on members of the public, especially jobseekers, to discountenance rumours of employment slots for sale.
“The company states that there is no iota of truth in the insinuations that it has employment slots on offer to anyone who wishes to buy, describing such as antics of fraudsters who want to take advantage of unsuspecting applicants,” Soneye said.
NNPC urged the public to be vigilant and not fall victim to these deceitful schemes.
The company, in addition, warned that anyone who pays money to secure a job in the company does so at their own risk.
“It cautions that as a responsible corporate entity, recruitment into the company is a straightforward process and does not involve the sale of slots or inducement of any kind.
“It warns that anyone who pays money to anyone for any job in the company does so at his or her own risk,” the oil company added.
Nigeria’s public debt rose by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024 from N97.34 trillion ($108.23 billion) in 2023.
The Debt Management Office (DMO) disclosed this in its latest public debt profile report.
The debt stock consists of external debt of N70.29 trillion ($45.78 billion) serviced with $4.66 million and domestic debt of N74.38 trillion ($48.44 billion).
The report showed that the country’s external debt increased by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.
Domestic debt also grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.
The report further indicated that the Federal Government’s domestic debt component rose by 32 per cent YoY to N70.41 trillion from N53.26 trillion in 2023.
But the domestic debt of states and the Federal Capital Territory declined YoY by 32 per cent to N3.97 trillion in 2024 from N5.86 trillion in 2023.
The rise in public debt can be attributed to fluctuating trends in exchange rates amidst changes in global economic conditions.
The sharp increase, particularly in external debt, highlights the nation’s vulnerability to exchange rate volatility and changes in global economic conditions.
With the continued depreciation of the naira, the cost of servicing foreign debt could escalate, adding pressure on the country’s financial resources.
The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight -man Senior Management Team.
The appointment followed the recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors.
Disclosing this in a statement on Friday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the appointments all take immediate effect.
“Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday,” he stated.
“The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group Chief Operating Officer; Adedapo Segun as Group Chief Financial Officer; and Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy.
“Other members of the team are: Udy Ntia as Executive Vice President Upstream; Mumuni Dangazau as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President Business Services; and Adesua Dozie, as Company Secretary & Chief Legal Officer. All appointments are with immediate effect.”
Ngozi Okonjo-Iweala, the director-generaI of the World Trade Organisation (WTO), says the recent tariffs announced by the United States (US) will have significant implications for global trade and economic growth prospects.
On April 2, President Donald Trump announced sweeping global tariffs on all imports into the US, imposing 14 percent on Nigeria.
In a statement on Thursday, Okonjo-Iweala said the WTO secretariat is closely monitoring and analysing the measures announced by the nation.
The WTO DG said many members have “reached out to us”, adding that the secretariat is actively engaging with them in response to their questions about the potential effect on their economies and the global trading system.
“The recent announcements will have substantial implications for global trade and economic growth prospects,” the economist said.
“While the situation is rapidly evolving, our initial estimates suggest that these measures, coupled with those introduced since the beginning of the year, could lead to an overall contraction of around 1% in global merchandise trade volumes this year, representing a downward revision of nearly four percentage points from previous projections.”
Okonjo-Iweala expressed concern over the decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that could lead to further declines in trade.
“It is important to remember that, despite these new measures, the vast majority of global trade still flows under the WTO’s Most-Favored-Nation (MFN) terms,” she said.
“Our estimates now indicate that this share currently stands at 74%, down from around 80% at the beginning of the year. WTO members must stand together to safeguard these gains.”
According to the WTO DG, trade measures of this size have the potential to create significant trade diversion effects.
Therefore, she called on members to “manage the resulting pressures responsibly to prevent trade tensions from proliferating”.
“The WTO was established to serve precisely in moments like this — as a platform for dialogue, to prevent trade conflicts from escalating, and to support an open and predictable trading environment,” Okonjo-Iweala said.
She encouraged members to utilise the forum to engage constructively and seek cooperative solutions.