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Fuel scarcity looms as suppliers drop out

Posted by admin Latest Politics, Oil Politics Saturday, June 2nd, 2012

June 2, 2012 by Agency Reporter 17 Comments Nigeria faces fuel shortages as a crackdown on fraud and the government’s lack of funds to pay for subsidies have prompted private firms to halt imports, which could trigger unrest and harm the country’s faltering economic expansion, Reuters reported on Friday. Half the money set aside for […]

EFCC overhauls legal team for subsidy thieves’ trial

Posted by admin EFCC Politics, Oil Politics Thursday, May 24th, 2012

May 24, 2012 by Fidelis Soriwei, Abuja 49 Comments Chairman, Economic and Financial Crimes Commission, Mr. Ibrahim Lamorde | credits: File copy There were indications on Wednesday that the Economic and Financial Crimes Commission might have begun the overhaul of its legal department as a way of presenting a strong legal team to prosecute perpetrators […]

Fuel Subsidy: Fear of revolution made govs abandon Jonathan

Posted by admin Goodluck Jonathan (2010-present), Governors, Oil Politics, Presidency, Top Stories Sunday, May 13th, 2012

Seven-day protests and strikes embarked upon by organised labour and civil society groups in January forced most governors to abandon President Goodluck Jonathan despite the plan they had with him to withdraw the fuel subsidy, SUNDAY PUNCH has authoritatively learnt . Investigations by our correspondents showed that although most governors were party to the decision […]

Shake-up looms at NNPC, DPR, PPPRA over rot (Start with the minister)

Posted by admin Latest Politics, Oil Politics Monday, May 7th, 2012

THE House of Representatives ad-hoc committee’s report on the fuel subsidy regime may soon claim its first casualties. Reason: Plans are under way by the Federal Government to send on compulsory retirement several top executives of some agencies in the oil sector over their indictment in the […]

‘Nigeria earned N428bn from non-oil exports last year’

Posted by admin Latest Politics, Oil Politics Thursday, May 3rd, 2012

Nigeria made N428bn from non-oil exports in the last one year, the Minister of Trade and Investment, Mr. Olusegun Aganga, said on Thursday. This feat, he said, was achieved through proactive trade policies and incentives for non-oil exports introduced by the Ministry of Trade and Investment, adding that Nigeria had achieved a relatively high level […]

Subsidy scam: Rep insists on Diezani’s resignation

Posted by admin Latest Politics, Oil Politics Friday, April 27th, 2012

April 27, 2012 by John Ameh, Abuja A member of the House of Representatives, Mr. Robinson Uwak, on Thursday repeated his call on the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to resign her appointment following the uproar over the N1.07tn fuel subsidy scam. Uwak had made the same call on the floor of the […]

Subsidy scam: I won’t spare any culprit – Jonathan

Posted by admin Goodluck Jonathan (2010-present), Oil Politics, Presidency, Raw Politics Thursday, April 26th, 2012

By BEN AGANDE, Henry Umoru, EMMAN OVUAKPORIE & Inalegwu Shaibu ABUJA- PRESIDENT Goodluck Jonathan said yesterday that those indicted in the report of the House of Representatives Committee that investigated the implementation of the subsidy regime in Nigeria will be punished. He vowed that no one will be spared. The House which called for the […]

Fuel subsidy scam – Reps make U-turn

Posted by admin House, Legislature, Oil Politics Tuesday, April 24th, 2012

The House of Representatives yesterday began the debate of the report of its Ad hoc Committee on fuel subsidy probe. The panel submitted its report in Abuja last Wednesday. Scores of companies were indicted for their roles in the scam. The firms, including government agencies, Nigerian National Petroleum Corporation (NNPC), Petroleum Products Pricing Regulatory Agency […]

Cabal Moves Against Fuel Subsidy Report

Posted by admin Latest Politics, Oil Politics Wednesday, April 18th, 2012

There are heightened fears that a cabal was determined to ensure that the Hon. Farouk Lawan-led committee panel report does not see the light of day or at worst, get the contents heavily doctored. As a result, controversy has continued to trail the report on fuel subsidy with a group describing it as being suspicious, […]

Petrol: NNPC, Oando, others to import 4.8b litres

Posted by admin Headlines, Oil Politics Tuesday, March 13th, 2012

Font size: Executive Secretary of PPPRA, Reginald C. Stanley The Petroleum Products Pricing Regulatory Agency (PPPRA) has shortlisted 42 oil marketing firms to import 4,794,075,000 litres of premium motor spirit (petrol) for the second quarter of this year. In a statement signed by the Executive Secretary of PPPRA, Reginald C. Stanley, the agency said […]