Fears Over Removal Of Oil Subsidy


Nigeria’s crippling fuel shortages are unlikely to ease any time soon and much-needed deregulation of the subsidised market would be a fraught process, the chief executive of energy company Sahara Group said on Wednesday. Prospects for a removal of subsidies, and a change in government at the end of May,

Empty Treasury Awaits Buhari


By Joe Igbokwe If PDP and the President had known that they may not make it in the 2015 presidential elections, I am dead sure they would not have looted our treasury with reckless abandon. If they had known that the bubble will burst in March 28, 2015 presidential election,

Fuel Scarcity And The Agony Of Nigerians


By Tayo Ogunbiyi It started like a trivial development that would soon fizzle out with time. Most government officials that spoke about it gave a glimmer of hope that all will soon be well.

Muslims, Christians In Kaduna Call For NNPC Probe

Muslim and Christian members of the APC have called on the incoming President, General Buhari to probe the Nigerian National Petroleum Corporation (NNPC) and also ensure that all sectors of the economy are properly overhauled. The APC members held a joint prayer session and thanksgiving for the incoming administration of General

Ex-militants in Akwa Ibom plead for inclusion Jonathan’s pipeline surveillance contract

The militants say they had on August 3, 2012 written to President Jonathan and the National Security Adviser (NSA), demanding their inclusion in the contract. The post Ex-militants in Akwa Ibom plead for inclusion Jonathan’s pipeline surveillance contract appeared first on Premium Times Nigeria.

Amosun Seeks Proper Monitoring Of Petroleum Pipelines

The Ogun State Governor, Ibikunle Amosun, has asked the Nigerian National Petroleum Corporation (NNPC) and other authorities to adopt proactive measures  that would end pipeline vandalism. Governor Amosun told reporters at the site of a vandalised pipeline in Ogere, in Ikenne Local Government area of the state that the NNPC should be

NNPC searching for oil in Chad Basin

Dr. Joseph Dawha, Managing Director, NNPC The Nigerian National Petroleum Corporation (NNPC) said it was set to resume oil search in the Chad Basin following the remarkable improvement in the security situation in the North-Eastern Nigeria.

Missing $20 billion: I Didn’t Appoint PriceWaterHouseCoopers – Okonjo Iweala


Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala has today denied appointing world renowned audit firm, PriceWaterHouse Coopers to audit the Nigerian National Petroleum Corporation (NNPC) over the alleged missing $20 billion oil money. This was revealed through a statement released by the Special Adviser to the Minister, Paul Nwabuikwu, Thursday.

FG Pays 500bn Naira To Oil Marketers In Five Months

The Federal Ministry of Finance says it has paid the sum of N156 billion to oil marketers. This is according to a statement by the Special Adviser to the Coordinating Minister and Minister of Finance, Paul Nwabuikwu, dated Thursday, April 30, 2015.

The Need To Sanitise NNPC, Oil Sector


Every Nigerian knows how impossible it would be for anyone to try to paint a positive picture of the country’s oil sector currently. This sector is supposed to be the country’s nest egg but proceeds from oil sales have often been diverted into private coffers through dubious accounting system operated

Nigeria’s $20b Oil Sales Fraud: Presidency Pressuring Audit Group To Revise Report


A day after Nigeria’s president, President Goodluck Jonathan ordered for the release of the version of a forensic audit of $20 billion reportedly missing from Nigeria’s crude oil sales, the FG has been pressuring the auditors, PricewaterhouseCooper to revise some areas of the preliminary report. According to Sahara reporters, the

Subsidy Scam: Forensic Audit of NNPC Reveals $1.28bn Missing


FOLLOWING a Presidential directive, the Federal Ministry of Petroleum Resources, yesterday, released the Forensic Investigative Audit conducted by PriceWaterCoopers into the allegations of unremitted Funds into the Federation Accounts by the NNPC. Among other things, the report revealed financial improprieties amounting to $1.

“Missing” $20 Billion: NNPC Audit Report Exposes Double Subsidy Payments on Kerosene & Petrol


PricewaterhouseCoopers (PwC) has conducted an audit regarding the $20 billion oil money that former Central Bank of Nigeria (CBN) governor, Muhammadu Sanusi claimed NNPC failed to remit to the federation account. Here are some excerpts of what the audit revealed, as reported by The Cable: The PwC report, which was ordered