February 29, 2012 by Everest Amaefule, Abuja The Federal Government on Tuesday gave the Petroleum Special Task force 60 working days within which to probe and clean up the oil industry. The task force is headed by the pioneer chairman of the Economic and Financial Crimes Commission, Mallam Nuhu Ribadu. Minister of Petroleum Resources, Mrs. […]
Task force inaugurated WE seek new ethics by promoting values that support a new dawn of business conduct in the sector. Those who play by the rules will enjoy the best support and unscrupulous players should know now that the game is over.” With these words, former Chairman, Economic and Finance Crimes Commission (EFCC), Nuhu […]
Anger dripped from the reply of governors and stakeholders in the oil-producing states on Saturday to the 19 Northern governors’ demand for a review of the revenue formula to give more funds to them. The South-South governors said such a call smacked of insensitivity to the plight of the zone, evident in its over 50 […]
Shell Petroleum has said that the reason for its divestment in some rig assets in Nigeria is partly due to the high cost of doing business and the degree of political risks in the country. Speaking at the Nigeria Oil and Gas (NOG) conference in Abuja on Tuesday, the Executive Vice President, Sub-Sahara Africa, Shell […]
THE Federal Government has reduced the 2012 budget estimates from the initial N4.749 trillion to N4.648 trillion in its revised budget estimates submitted to the National Assembly on Tuesday. President Goodluck Jonathan, in a letter sent to the President of the Senate and the Speaker of the House of Representatives said that the new budget […]
Some federal lawmakers from Ekiti State have said reports of different probe panels set up by the National Assembly will always be left to gather dust as long as the legislators lack the power to prosecute those indicted. The senator representing Ekiti North Senatorial District, Mr. Olu Adetumbi, stated the position of the lawmakers in […]
The Central Bank of Nigeria on Tuesday put the “actual” total subsidy payments on fuel imports in 2011 at N1.7tn, an excess of N300bn above the N1.4tn figure given by the Minister of Finance, Mrs. Ngozi Okonjo-Iweala, last week. The apex bank told the House of Representatives Ad Hoc Committee on Subsidy Regime that that […]
The suspension of a nationwide strike which paralysed Nigeria with enervating toll on neighbouring nations was greeted with relief, amid speculation that the last has not been heard about the hike in petroleum products’ pricing in the country. In Cotonou, the economic capital of Benin Republic, many roads are crowded once more. Aside the countless […]
WHILE President Goodluck Jonathan has continued to say that the government spends so much money on subsidising the oil consumption, the economic indices point to the contrary. Experts in the field of petroleum, civil societies and non-governmental organisations have given a concise analysis of how much crude is lifted, sold, and brought back for sale […]
By Dr. Olu Ojedokun, London, UK – Jan. 19, 2012 – We have taken stock of the grave national crises we face and we of, The Nigerian Front after a process of consultation and reflection have come up with a roadmap to provide some solutions for the nation. We hope these detailed solutions will be […]
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