A group, Partner For Petroleum & Energy Sector Prosperity Initiative( P-PESPI has condemned a recent call for the sack of Minister of State Petroleum, Timipre Silva over a recent comment on debts owed by International Oil Companies (IOCs). Sylva was quoted as saying that the $62 billion owed Nigeria by IOC’s would be difficult to […]
The Federal Ministry of Finance Thursday, denied knowledge of a $3.5 billion- fund allegedly kept and utilised by the Nigerian National Petroleum Corporation (NNPC) for fuel subsidy. The Permanent Secretary, in the ministry, Mr Mahmoud Isa-Dutse, gave its position when he appeared before the Senate ad hoc committee probing the allegation in Abuja yesterday. Isa-Dutse’s […]
By Tochukwu Ezukanma | Lagos, Nigeria | August 20, 2018 – In one of those instances of fuel scarcity in Lagos State, I drove to a fuel station, and, like the other motorists, parked my car in the line for petrol. In a more sane society, motorists will sit in their cars, and inch their […]
By Prof. Nyerhovwo Tonukari | Abraka, Delta State, Nigeria | February 28, 2018 – Price controls are regarded by economists as one of the worst forms of intervention in markets. Over the years, the history of governments implementing price controls has shown that it is a failed venture. If truth be told, no measure implemented […]
— 26th January 2018 •NASS is broke, says Saraki Fred Itua, Abuja Senate has issued a seven-day ultimatum to the Federal Government and the Nigerian National Petroleum Corporation (NNPC) to, within one week, end long queues in fuel stations across the country. The resolution followed the unanimous adoption of an interim report of its Joint Committee […]
— 26th January 2018 Henry Umahi The former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has thrown some light on the process for the release of funds requested by security/intelligent agencies in the country. Reacting to publications in traditional and new media titled “Diezani in trouble again over withdrawal of $1.3b from NNPC accounts,” she averred […]
Militants abduct 5 oil workers in Niger Delta — 20th January 2018 Suspected militants have abducted five oil workers in Nigeria’s restive Niger Delta region, an area regularly hit by militant attacks and abductions. The militants seized the workers on Wednesday near the Ajoki community, which borders Edo and Delta States, said Delta State police spokesperson, […]
By Udeme Akpan, Johnbosco Agbakwuru, Mike Eboh & Dennis Udoma FG waives port charges on fuel imports Refineries pump 3.8m litres per day – Baru As fuel scarcity across the country bites harder, the Federal Government, yesterday, ordered that port charges be waived for vessels carrying Premium Motor Spirit, PMS, also known as petrol, to […]
The Nigeria Army on said it has recovered 21 additional bodies in an operation to rescue oil exploration crew abducted by the Boko Haram insurgents in Borno. The Director Army Public Relations, Brig. Gen. Sani Kukasheka, in a statement, said that the army recovered vehicles and various calibres of weapons in the operation. “So far […]
Troops rescue NNPC kidnapped Staff, recover corpses The Army said it had rescued all the NNPC staff kidnapped by suspected Boko Haram terrorists in Borno on Tuesday. The Director, Army Public Relations, Brig.-Gen. Sani Usman, who disclosed this in a statement on Wednesday, also said that the corpses of an officer, eight soldiers and a […]
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