By Ben Agande, Michael Eboh & Kunle Kalejaye ABUJA — The Federal Government said, yesterday, that it had no plans to increase the pump price of Premium Motor Spirit, PMS, popularly known as petrol from the prevailing pump price of N97 per litre, describing the growing fear of imminent price hike as unfounded. Equally, what […]
Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi The Northern Elders Forum and the Trade Union Congress have cautioned the Federal Government against ignoring calls by the Governor, Central Bank of Nigeria, Lamido Sanusi, for a probe into the oil $49.8bn fund unaccounted for by the Nigerian National Petroleum Corporation. Spokesman […]
THE Senate has empowered its committee on finance to commence a full-scale investigation into the alleged missing $49.8 billion from the Federation Account. The committee is expected to conclude its findings and submit report in less than seven days. The missing money was said to be the value of crude oil export and proceeds from […]
The Nigerian National Petroleum Corporation (NNPC) has refuted reports credited to the Governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, alleging that it withheld the sum of $49.8bn representing 76 per cent of the total crude oil revenues from January 2012 to July 2013. In a statement signed by the General Manager, […]
FEDERAL MINISTRY OF FINANCE News Release. December 6, 2013. CLARIFYING INACCURACIES IN REUTERS STORY ON SUBSIDY PAYMENTS IN NIGERIA In its recent story on subsidy payments to oil marketers in Nigeria, Reuters confuses the facts and obfuscates the issues. It is well known that the Federal Ministry of Finance […]
By Abdullahi M. Seidu | NNP | October 23, 2013 – Nigeria, it is customary for us to throw stones at government officials when they stray off course; and even when they get it right, we still find stones to throw, while we turn blind eyes to their good deeds. Perhaps this is due to […]
FROM CHRIS ANUCHA The Movement for the Emancipation of the Niger Delta (MEND), has said that it was responsible for the damage of Shell facilities, which caused further pollution of the environment in Ogoniland and other communities in the Niger Delta region. The pollution was said to have been due to crude oil spills and […]
Alison-Madueke | credits: File copy The Senate Committee on Petroleum Resources (Upstream), has issued a seven – day deadline to the management of the Petroleum Technology Development Fund to provide details of its earnings in the last five years as well as a comprehensive list of its portfolio investments. Chairman of the committee, Senator […]
The Central Naval Command of the Nigerian Navy says it has arrested a Cameroonian and nine Nigerians for stealing crude oil in Bayelsa State. A statement on Sunday by the Command Operations Officer, the CNC, Commodore Emmanuel Enemor, said the suspected oil thieves were arrested by the operatives of the Forward Operating Base of the […]
By Emma Ujah, Abuja Bureau Chief & Ben Agande ABUJA—The Dangote Group Wednesday made history by signing of a combined $ 9.05 billion facility agreement with a consortium of local banks and international investors for the establishment of a refinery, and petrochemicals cum fertilizer complex in Nigeria. Agreement Under the agreement signed at a crowded […]
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