By Dare Olawin Nigerian businessman, Tony Elumelu says the government and security agents in Nigeria should be able to tell Nigerians who steal the country’s crude oil, especially using vessels that move through the territorial waters. Elumelu stated this in an interview published by the Financial Times on Friday. Elumelu who dreads oil theft said…
The Nigeria National Petroleum Corporation Limited is not transparent about the financial gains from fuel subsidy removal, the World Bank has disclosed. This extends to subsidy arrears that are still being deducted and the impact of subsidy removal on federation revenues, the bank noted. The Washington-based made this call in its Nigeria Development Update, December…
The Federal Government of Nigeria has won the legal case against Process & Industrial Developments (P&ID) Limited in a London court on Monday. The judgment was delivered after five years of legal frameworks which have finally been to the advantage of Nigeria, as the court quashed the $11 billion arbitration award in favour of P&ID….
We have sold forward FX contracts so some of our future FX earnings are encumbered. Essentially, some of the FX we are yet to earn does not belong to us. Under the infrastructure tax credit scheme, some of our major company income tax payers were awarded roads to either rehabilitate or construct and are entitled…
Enugu State government has expressed disappointment at the way certain petroleum dealers in the state are exploiting consumers through deliberate manipulation of metres while dispensing fuel inaccurately, warning that filing stations found culpable in such sharp practices will be severely sanctioned to serve as deterrent to others. While frowning at the dastardly act, the state…
A massive oil field has been discovered in the Niger Republic, according to the country’s Ministry of Petroleum. The field, which is located in the Agadem basin, is estimated to hold up to 60 billion barrels of oil. This discovery is a major breakthrough for Niger, which has been struggling to diversify its economy away…
By Justina Otio Nigerian TV news anchor, Rufai Oseni has asked President Bola Tinubu to apologize to Nigerians for misleading them in 2012 over his claims on fuel subsidy during the administration of former president Goodluck Jonathan. It was recalled that Tinubu, in 2012 had kicked against Jonathan for removing petrol subsidy. Tinubu had condemned…
The House of Representatives has rejected the motion to suspend the license allegedly granted to Dangote Refinery as the sole importer of Petroleum Motor Spirit (PMS) also known as petrol. The House of Representatives has rejected the motion to suspend the license allegedly granted to Dangote Refinery as the sole importer of Petroleum Motor Spirit…
THE NIGERIAN IDEAL My Fellow Citizens, I stand before you honoured to assume the sacred mandate you have given me. My love for this nation is abiding. My confidence in its people, unwavering. And my faith in God Almighty, absolute. I know that His hand shall provide the needed moral strength and clarity of purpose…
