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How EFCC Recovered $9.8m Plus £74,000 From Andrew Yakubu, Ex-NNPC GMD

A special operation conducted by operatives of the Economic and Financial Crimes Commission on 3rd February, 2017 on a building belonging to a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Andrew Yakubu in Kaduna yielded the recovery of a staggering sum of $9,772,800 (Nine Million, Seven Hundred and Seven Two Thousand, Eight Hundred United States Dollars) and anot ...

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128 Companies Bid for NNPC DSDP Crude Import Programme

No fewer than 128 Indigenous and International Oil and Gas companies have indicated interest to participate in the Nigerian National Petroleum Corporation’s (NNPC) Direct Sale of Crude Oil and Direct Purchase of Products (DSDP) programme. The DSDP arrangement is a model introduced last year and is carried out through direct sales of crude oil to refiners or consultants, who in turn supply NNPC with equivale ...

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Sokoto Govt, Oil Marketers Reach Deal On Fuel Supply

Sokoto State and Independent Petroleum Marketers (IPMAN) have reached a deal that both parties said will ensure availability and affordability of petroleum products in all parts of the state. The government had threatened to revoke the Certificate of Occupancy (C of O) of any sales outlet hoarding petroleum products, a situation that has thrown parts of the state into artificial scarcity for over two weeks ...

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Troops Raid Oil Bunkerer, Militants’ Camps In Niger Delta Creeks

(Nigerian Army Press Release) Troops of 4 Brigade  of the Nigerian Army have entered Day 4 in the field training exercise nicknamed "Operation Crocodile Smile" with  quite a number of activities that involved continued humanitarian assistance through free medical outreach, show of force, patrols and raids in the creeks. Earlier on Monday, 29th August 2016,  the troops with help of Nigerian Navy helicopters, ...

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Lagos Shuts 12 Houses As Police Uncover Illegal Oil Wells

The Lagos State Government on Friday shut 12 houses in Abeokuta and Ibadan Streets in Ilasamaja area of the State over discovery of shallow oil wells built by landlords to illegally scoop diesel from pipeline belonging to the Nigerian National Petroleum Corporation (NNPC). The oil wells were said to have been built for the purpose of illegally scooping diesel and selling same to members of the public, while ...

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Niger Delta Avengers Blow Up Chevron Oil Wells, Despite Heavy Military Presence

The Niger Delta Avengers have carried out another major attack as they  claimed to have  blown  up Chevron oil  wells  in Nigeria's oil producing region. The Niger Delta Avenger  announced their latest  attack  via tweets  Wednesday  thus : “With the heavy presence of 100 Gunboats, 4 Warships and Jet Bombers NDA blew up Chevron Oil Well RMP 23 and RMP 24 3:44am this Morning.” “This is to show the whole worl ...

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Fuel Price Increase: Oyegun Begs Nigerians,Labour

National Chairman of the governing All Progressives Congress (APC), Chief John Odigie-Oyegun yesterday appealed for the understanding of organised labour and the Nigerian public on the recent increase in prices of premium motor spirit otherwise known as petrol. Oyegun who spoke with reporters in his office said the government had to do away with the subsidy regime because it was evident that Nigerians were ...

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Fuel Price Hike: Why We Did It – Presidency

7Nigeria's presidency has reeled out its justification for the fuel price hike and the deregulation of the oil sector. Speaking on the issue for the first time Tuesday, Vice President Yeti Osinbajo said in a statement Friday that the most important issue is the need to shield the poor. He said"I have read the various observations about the fuel pricing regime and the attendant issues generated. All certainl ...

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NUPENG, PENGASSAN back subsidy removal

The National Union of Petroleum and Natural Gas Workers  (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have thrown their weight behind the decision of the Federal Government to stop the payment of petrol subsidy. Chairmen of NUPENG and PENGASSAN, Comrade Igwe Achese and Comrade Francis Olabode Johnson, respectively, addressing reporters after a joint National Ex ...

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Fuel Subsidy Removal, A Gift to Nigerians – CSO

The president's resolve to remove subsidy on fuel has been met with approval from many quarters even as the Centre for Social Justice, Equity and Transparency (CESJET) has described it as a gift to Nigerians. According to a statement issued by CESJET’s Executive Secretary, Comrade Ikpa Isaac in Abuja today, the removal of the subsidy will put a lasting end to the incessant fuel crisis which have put the nat ...

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Amnesty Boss Condemns Attack On Pipeline

Special adviser to the President on Niger Delta and Coordinator of the Presidential Amnesty Programme (PAP), Brig-Gen. Paul Boroh (rtd), has denounced the recent attack on oil and gas pipelines in the Niger Delta by some misguided elements. The PAP coordinator, who spoke to journalists in Abuja, against the backdrop of the recent attack on the Chevron Abiteye pipeline in Delta State, said the act is condemn ...

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OPEC: Kachikwu Seeks Consensus As Oil Producers Fail To Reach Agreement On Output Freeze

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu has assured that despite the stalemate on crude oil production freeze, the Organisation of the Petroleum Exporting Countries, OPEC, will continue to work to achieve consensus for output freeze among oil producers. Addressing newsmen after the protracted meeting of OPEC a ...

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