Thursday , 27 April 2017

Tag Archives: nnpc

NNPC yet to remit $81.2bn in four years – House of Reps

The Nigerian National Petroleum Corporation (NNPC) did not remit a total of $81.2bn crude oil proceeds to the Federation Account in four years according to the House of Representatives. Its ad hoc committee, which is investigating the alleged export of $17bn worth of undeclared crude oil and gas resources, has demanded …

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Commuters stranded at Lagos-Ibadan Expressway

It was all locked down on Friday at the Ogun axis of the Lagos-Ibadan Expressway as lots of passengers travelling out of Lagos on Friday were stranded  from the Magboro end of the road. At almost every bus stop on the expressway, there were several commuters, some with the bags …

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Three NNPC Chiefs Fired Over Missing N11bn Petrol

The Nigerian National Petroleum Corporation(NNPC) on Thursday sacked three of its senior officials and deployed four others in vacant positions. Although the corporation did not state why the officials were sacked, it was gathered that the affected directors and a manager were allegedly involved in the N11bn missing petrol scandal …

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‘Missing’ Petrol Scandal: Four NNPC Top Officials Get Letters Of Compulsory Retirement

Four top officials of the Nigerian National Petroleum Corporation, NNPC, on Tuesday received their letters directing them to proceed on compulsory retirement over the missing petrol scandal, multiple sources told PREMIUM TIMES. On Monday, PREMIUM TIMES published an exclusive report that the Managing Director of the NNPC Retail, Esther Nnamdi-Ogbue, …

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‘Missing’ Petrol Scandal: NNPC Asks Four Top Officials To Resign

The management of the Nigerian National Petroleum Corporation, NNPC, has asked four top officials of the agency to resign, multiple sources have told PREMIUM TIMES. Those asked to resign are the Managing Director of the NNPC Retail, Esther Nnamdi-Ogbue; the General Manager (Operations) of NNPC Retail, Mamza Gwadabe; as well …

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NNPC debunks fuel scarcity rumour

The Nigerian National Petroleum Corporation, NNPC on Wednesday has debunked news making the rounds that there will be fuel scarcity in the country. Following last Monday’s N1 (about 16.4 per cent) review of the bridging allowance to transporters from N6.20 to N7.20 per litre, speculations were rife that government was …

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NNPC Denies Hike In Pump Price of Petrol

The increase in the bridging allowance to transporters from N6.20 to N7.20 per litre will not result in upward review of petrol pump price, the Nigerian National Petroleum Corporation (NNPC) has said. Speaking on the rumoured planned increase of the product in Abuja yesterday, Chief Operating Officer (COO) in charge …

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Gas flaring dropped from 36% to 10 % in the last 10 years -NNPC

Gas flaring has been reduced by 26 percent by the Nigerian National Petroleum Corporation, NNPC in the last 10 years. According to the NNPC said the reduction, which has pushed Nigeria down from the second highest gas flaring nation to the seventh position, was from 36 per cent in 2006 …

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NNPC/MPN JV: 55 Years of Delivering Value to Akwa Ibom State

The NNPC/MPN Joint Venture in Akwa Ibom State The Nigeria National Petroleum Corporation/Mobil Producing Nigeria Joint Venture (NNPC/MPN JV) has operated in Akwa Ibom State for 55 years, having been granted its first Oil Prospecting License (OPL) in 1961.   Since then, the JV has consistently delivered significant economic value …

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House of Reps urge NNPC to regulate the pump price of Kerosene

The Nigerian National Petroleum Corporation (NNPC) and other relevant agencies have been urged by the House of Representatives to work on price regulation of the supply of kerosene nationwide in order to normalise its pump price.The House also mandated its Committee on Petroleum Resources (Downstream) to liaise with relevant agencies to …

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Senate accuses corrupt leaders of hiding money in caskets

THE Senate, yesterday (Wednesday), alerted the nation to the fact that corrupt politicians now hide stolen money in caskets and uncompleted buildings  in remote villages. The revelation came as the Upper Chamber of the National Assembly commenced probe of Nigerian National Petroleum Corporation, NNPC, over allegation of  fuel subsidy funds …

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NNPC faces Probe challenge by Senate for alleged unremitted N5.1trn

The Nigerian Senate is set to investigate the , NNPC, over allegation of fuel subsidy money not accounted for to the tune of N5.1 trillion collected between 2006 and 2015. This was raised yesterday (Monday), during plenary,as  Senator Dino Melaye, APC, Kogi, drew the attention of the Senate to what …

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Revealed: Petrol Subsidy Resurfaces As FG Continues To Bear The Brunt Of Payment

Petrol subsidy is back. The Nigerian National Petroleum Corporation has been offsetting for months the difference between the landing costs of petrol and the pump price. In series of interviews with knowledgeable players in the sector, NAN can report authoritatively that the landing costs per litre of petrol is higher …

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FG Order Contractors Of Abandoned Projects In Niger Delta Back To Site

The Federal Government on Tuesday ordered all contractors who abandoned projects in the Niger Delta region to return to site immediately. Acting President Yemi Osinbajo gave the order at a stakeholders meeting for sustainable development in the Niger Delta region held in Owerri, Imo State. Mr. Osinbajo said he was …

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Our Whistle-blowing Policy Has Yielded $160m, N8bn – Lai Mohammed

Minister of Information and Culture, Lai Mohammed says the Federal Government’s Whistle-blowing policy has yielded $151million and  N8billion in looted funds. In a statement signed by Segun Adeyemi,  the Special Assistant to the Minister, Alhaji Mohammed said the looted funds were recovered via the clues provided by three whistle-blowers who gave …

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Photos: Wads Of Cash Discovered In Ex-NNPC GMD, Andrew Yakubu’s House

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

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Kaduna Refinery Loses N2bn Annually To Illegal Pipeline Tapping

The Nigerian National Petroleum Corporation (NNPC), said its subsidiary, ‎Kaduna Refining and Petrochemical Company (KRPC), loses about N2.2 billion yearly ‎to illegal tapping on its raw water pipeline. The corporation said this in a statement in Abuja on Thursday by its Group General Manager, Group Public Affairs Division, Mr Ndu …

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Nigeria To Stop Fuel Importation By 2019 – Kachikwu

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said on Tuesday in Abuja at a public hearing on the review of petroleum pricing template for Premium Motor Spirit organised by the House of Representatives. He said that within two years, the Federal Government revived refineries that were non-functional …

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FG Still Owes Fuel Importers N660bn After Paying N150bn

The Major Oil Marketers Association of Nigeria, MOMAN, on Wednesday said Federal Government had assured of full settlement of all debts owed on importation of petroleum products. The Executive Secretary of MOMAN, Obafemi Olawore, told the reporters in Lagos on Wednesday that the government had demonstrated positive disposition to defray the …

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Suleja Depot Fire Will Not Affect Fuel Supply – NNPC

The Nigerian National Petroleum Corporation, NNPC, said the fire incident which affected a truck at the Suleja Depot at about 4 a.m today would not affect adequate supply of petroleum products in Abuja and the states of  Niger and Nasarawa. Nigeria Pipeline and Storage Company, NPSC, Managing Director, Barrister Luke Anele, said …

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