London court seizes Allison-Madueke’s cash

Nigeria ex-minister’s cash seized A court in London has approved the seizure of cash from Nigeria’s former oil minister Alison Diezani-Madueke, reports BBC Africa’s Sam Piranty. The amount seized from the former minister is about $41,000 (£27,000), following an application brought by the UK’s National Crime Agency under the Proceeds of Crime Act. The court […]

Buyers stop loading Nigerian crude

  Group Managing Director, NNPC, Dr. Emmanuel Kachikwu The measures introduced by the Federal Government to monitor crude transit and check oil theft are said to be threatening income lifeline, compounding the damage the crude price fall has done to Nigeria’s finances, access to dollars and imports. Oil traders and shipping brokers said a newly […]

I will be petroleum minister, says Buhari (Is Diezani Allison-Madueke not available?)

President Muhammadu Buhari As the nation awaits President Muhammadu Buhari’s ministerial list, the President on Tuesday said he would head the Ministry of Petroleum Resources. Buhari dropped the hint in one of the interviews he granted one of the foreign media in his hotel shortly before departing New York. The President was in New York […]

NNPC Appointments: Much Ado about a Conflict of Interest – By Akintokunbo A. Adejumo

By Akintokunbo A. Adejumo | London, UK | Sept. 26, 2015 – I was as usual browsing the noted and respected Sahara Reporters website when I came across a Petition/Press Release by a group named Civil Society Network Against Corruption (CSNAC) who claimed to be a “coalition of over hundred and fifty Anti-corruption organizations whose […]

NNPC to recover N1.9tn from JV partners

Group Managing Director, NNPC, Dr. Ibe Kachikwu The Nigerian National Petroleum Cooperation has commenced the process of recovering over $7bn (N1.4tn) in over-deducted tax benefits from joint venture partners on major capital projects. It was learnt on Sunday that the corporation had also engaged an international accounting firm to ascertain the exact amount due to […]

The Rising Cost of Petrol – By Arnold A. Alalibo

By Arnold A. Alalibo | NNP | August 21, 2015 – In the last few months, Nigerians have not ceased from fussing over the ever rising cost of premium motor spirit, PMS, popularly called petrol. Millions of Nigerians groan as the product sells above N110 while queues by motorists have continued to grow across filling […]

Stop fixing fuel prices, NNPC, others tell FG

    Group Managing Director, NNPC, Dr. Emmanuel Kachikwu ADVERTISEMENT   The fixing of petroleum products’ prices is denying the country investment in the downstream sector of the oil and gas industry and depriving Nigerians certain benefits from the country’s petroleum resources, industry stakeholders said on Thursday. The Federal Government currently regulates the prices of […]

NNPC: Kachikwu redeploys GGM crude oil marketing

  Group Managing Director, NNPC, Dr. Emmanuel Kachikwu ADVERTISEMENT   The restructuring at the Nigerian National Petroleum Corporation continued on Friday as the oil firm’s new Group Managing Director, Dr. Emmanuel Kachikwu, redeployed the Group General Manager, Crude Oil Marketing Division, Mr. Gbenga Komolafe. Komolafe, according to the NNPC, is to now serve as the […]

Why we’re yet to move against NNPC – Buhari

By Emma Ujah & Michael Eboh ABUJA—The Federal Government, yesterday, attributed the delay in moving against the Nigerian National Petroleum Corporation, NNPC, to efforts being made to establish the magnitude of fraud and inefficiencies in the corporation and in the oil and gas industry over the last couple of years. Speaking in an interview on […]

North set to take over NNPC

As committee recommends restructuring From ISMAIL OMIPIDAN, KADUNA & ISAAC ANUMIHE, ABUJA Barely 48 hours after President Muhammadu Buhari dissolved the board of Nigerian National Petroleum Corporation (NNPC), intense lobby has begun to fill the positions of the Group Managing Director (GMD) and those of Executive Directors, Daily Sun has learnt. Eight new structures are […]

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