The Federal Government is insisting on the benchmark price of $75 per barrel of crude oil in order to shore up the economy and make for macroeconomic stability, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said. Okonjo-Iweala, who spoke to journalists shortly after the presentation of the 2013 budget proposals to the National Assembly […]
The Federal Government plans to spend N251.2bn on the repairs of three refineries. The Minister of Petroleum, Mrs. Diezani Alison-Madueke made the disclosure on Monday when she appeared before the Senate Committee on Petroleum (Downstream). The minister was at the Senate with the Group Managing Director of the NNPC, Andrew Yakubu, and the Managing Director […]
The bid by the House of Representatives to probe the controversial sale of an oil block, OPL 245, was stalled on Thursday by key Federal Government officials with information on the deal. The alleged “shady sale” involved the Federal Government, Shell/Agip Consortium and Malabu Oil and Gas Limited, with OPL 245 being sold to the […]
NIGERIA’S daily crude output suffered a setback on Sunday, as Shell Petroleum Development Company of Nigeria (SPDC) shut its Bomu-Bonny Trunkline, translating to a 150,000 barrels per day shut in. A statement issued on behalf of the SPDC by its Corporate Media Relations Manager, Tony Okonedo, said the decision to shut the trunkline was as a […]
Abuja- Dr Ngozi Okonjo-Iweala, the Coordinating Minister for the Economy, on Friday said that the Federal Government had paid additional N56.75 billion to oil marketers out of the 2012 subsidy claims. While briefing newsmen in Abuja, Okonjo-Iweala, also Nigeria’s Minister of Finance, said that the payments were made to 14 companies after being screed by […]
By Emma Ujah, Abuja Bureau Chief and Soni Daniel The nation’s major petroleum products marketers, yesterday, pledged to work with the Federal Government to successfully complete the on-going subsidy payment audit and continue, unabated, the distribution of fuel to their various outlets across the country. The Chief Executive Officer, CEO, of Folawiyo Energy, Mr. Dipo […]
August 31, 2012 by Stanley Opara 3 Comments GMD, NNPC, Mr. Andrew Yakubu | credits: The Nigerian National Petroleum Corporation needs close to $3bn (N474.15bn) to upgrade its depots and refineries’ pipeline infrastructure nationwide, its Group Managing Director, Mr. Andrew Yakubu, has said. The GMD said this on Thursday during a forum in Lagos. In […]
President promises to suprise critics -Babangida threatens to expose Buhari On a day a former Head of State placed the blame for Nigeria’s woes at his doorstep, President Goodluck Jonathan yesterday hit back at his critics. He rejected such blame, especially by former leaders and vowed that although he is the most vilified President in […]
Former World Bank Vice President for Africa, Dr. Oby Ezekwesili yesterday said about $400 billion of Nigeria’s oil revenue has been stolen or mismanaged since independence in 1960. Presenting a paper entitled “Corruption, National Development, The Bar and The Judiciary” at the ongoing 52nd Annual General Conference of the Nigerian Bar Association (NBA), she said […]
By Dr. David A. Ehoro | Columbus, Ohio | August 25, 2012 – During the Vietnam War – a Cold War era military conflict that occurred in Vietnam, Laos, and Cambodia from 1 November 1955 to the fall of Saigon on 30 April 1975 – many Americans appeared thorn between the patriotic impulse of supporting […]
#FreeNnamdiKanuNow protests: Omoyele Sowore takes to his heels, escapes arrest, demands release of detainees, threatens mass mobilisation
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