President Muhammadu Buhari on Tuesday sent 2016 budget proposal of the News Agency of Nigeria (NAN), Nigerian National Petroleum Corporation (NNPC) and 36 other agencies to the Senate for consideration.The letter accompanying the budget, which was read by President of the Senate, Bukola Saraki, at plenary, indicated that the agencies’ budgets were in line with […]
Continue ReadingThe Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) worth 50 billion dollars with some Chinese companies for infrastructure development in oil and gas sector. The information is contained in a statement issued by the Corporation on Wednesday in Abuja. It stated that “NNPC wishes to announce the recent landmark strides […]
Continue ReadingThe Economic and Financial Crimes Commission has rearrested Jide Omokore, chairman of Atlantic Energy Drilling Concepts Nigeria Limited, and Andrew Yakubu, former group managing director (GMD) of the Nigeria National Petroleum Corporation (NNPC) and will most likely slam money laundering charges on him today (Monday). It was confirmed that the duo would be charged before […]
Continue ReadingFormer Vice-President Atiku Abubakar says he was queried by President Olusegun Obasanjo in 1999 for proposing the privatisation of the Nigerian National Petroleum Corporation (NNPC). Speaking on Tuesday at the launch of We Are All Biafrans, a book of essays by journalism and activist, Chido Onumah, in Abuja, Atiku said he made the proposal before the […]
Continue ReadingNigeria’s minister of state for petroleum resources, Ibe Kachikwu, has disclosed that Nigerian National Petroleum Corporation’s refineries will soon be producing aviation fuel. Dr. Kachikwu, who met with Hadi Sirika, his counterpart in the aviation ministry, said that although the refineries are not producing aviation fuel for now, efforts will be made in due course […]
Continue ReadingThe Ekiti State chapter of the All Progressives Congress has accused Governor Ayo Fayose of complicity in the fuel supply crisis in the state. In a statement by its Ekiti state Publicity Secretary, Taiwo Olatunbosun, the party said it was in possession of “incontrovertible evidence” that the governor was contributing to the scarcity of fuel […]
Continue ReadingThe Nigerian National Petroleum Corporation (NNPC) withheld 12 percent more money in six months under President Muhammadu Buhari than it did with his predecessor from 2013 to 2014. According to a report by the National Resource Governance Institute (NGRI), an international non-profit policy institute with focus on oil, gas and minerals, NNPC withheld more in the last six […]
Continue ReadingIf you were expecting to hear a cheering news from the Federal Government on the fuel situation, the Federal Government has something else for you. The minister of state for Petroleum Resources, Ibe Kachikwu, said on Wednesday in Abuja that “complete elimination” of fuel queues in the country would only be possible in the next […]
Continue ReadingIn a counter-reaction the the claims made by the Auditor-General of the Federation (AuGF), the Nigerian National Petroleum Corporation (NNPC) has given a detailed explanation of the N3.235 trillion allegedly unremitted to the federation account in 2014, stating the the AuGF’s claim on the “unremitted” sum is “erroneous”. Isiaka Abdulrazaq, group executive director and chief financial […]
Continue ReadingAuditor-General of the Federation, Mr. Samuel Ukura, on Monday, told the Senate that the Nigerian National Petroleum Corporation, NNPC, failed to remit N3.235 trillion to the Federation Account Allocation Committee, FAAC, in 2014. In a similar vein, he said the sale of gas to Nigeria Liquified Natural Gas, NLNG, to the tune of $235,685,861 was not […]
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