Nnpc
In short
The Nigerian National Petroleum Company Limited is the state-owned oil giant responsible for managing Nigeria's petroleum resources. It is the largest national oil company in Africa, holding assets valued at approximately $153 billion.
In plain words
It is a government-owned business that handles everything related to oil and gas in Nigeria. The company works with international partners to find oil and manages the transport and sale of fuel.
A simple example
When a foreign energy firm wants to drill for oil in Nigerian waters, they must partner with NNPC to do so legally.
Why it matters
The company is the backbone of the Nigerian economy and controls the nation's primary source of wealth. Its decisions affect fuel prices and government revenue across the continent.
Easy to mix up
Do not confuse NNPC Limited with private oil companies like Shell or Chevron, which act as partners rather than owners.