By Wole Arisekola In Africa, most especially the South-Western part of Nigeria, it is believed that when a mother hen is crying out to the world that an eagle stole its chic, it is not because it can do anything to retrieve it but to let the world hear its voice. It is very sad…
Contrary to reports that the Assets Management Corporation of Nigeria (AMCON) could take over the Dangote Refinery over debts owed by the Dangote Group to banks, the corporation have denied such claims, saying it have no business with the group. Some online news platforms had on Tuesday reported that Africa’s richest man, Aliko Dangote, could…
The Management of the Nigerian National Petroleum Corporation (NNPC) has announced the promotion and redeployment of some staff to fill key vacant positions in the corporation. In a statement released by the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru on Monday, the management said the appointments and redeployments would strengthen and…
By Adewole Kehinde The debate over the appropriateness or otherwise of the Federal Executive Council (FEC) decision to approve the award of contracts for the rehabilitation of Warri and Kaduna refineries to Messrs Saipem SPA and Saipem Contracting Limited at the combined the sum of $1.484billion has again dominated the media space in recent times.…
Some economists and oil and gas expert have backed the Federal Executive Council’s (FEC) approval of the acquisition of 20 per cent minority stakes by the Nigerian National Petroleum Corporation (NNPC) in the Dangote Petroleum and Petrochemical Refinery. They made their views known in separate interviews with the News Agency of Nigeria (NAN) on Thursday…
The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021. This was contained in the…
The Senate has faulted the Nigerian National Petroleum Corporation for under remitting the sum of N3,878,955,039,855.73 trillion revenue from domestic crude oil sales to the Federation Account for the period of January to December, 2015. Accordingly, the upper chamber called on the Corporation to desist from further deduction at source as this contravenes Section 162(1)…
By Adewole Kehinde The Nigerian National Petroleum Corporation (NNPC) was established on April 1, 1977. In addition to its exploration activities, the Corporation was given powers and operational interests in refining, petrochemicals and products transportation as well as marketing. Between 1978 and 1989, NNPC constructed refineries in Warri, Kaduna and Port Harcourt and took over…
The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa on Tuesday vowed that smugglers of Premium Motor Spirit (PMS) in the country will face the full wrath of the law. Bawa issued this stern warning in a remark at a stakeholders’ engagement on high PMS evacuation, code named “Operation White 2“at the…
President Muhammadu Buhari has flagged off the Nigeria Liquefied Natural Gas (NLNG) train 7 project, charging for its timely completion so as to enable the commencement of the Train 8 project. The President gave the charge on Tuesday at the virtual groundbreaking ceremony of the project in Bonny Island, Rivers State. He urged the Board…