Tag: PETROLEUM INDUSTRY

‘Despite producing zero fuel, NNPC refineries’ directors, workers get N252.8bn in 3yrs’

Aminu Imam

Workers and directors at the Nigerian National Petroleum Corporations (NNPCs) three refineries in the last three years were paid N252.8 billion in salaries and other emoluments. This is according to data collated from most recent 2020 audited financial statements released by the Corporation. The refineries, which are located at Port Harcourt, Kaduna, and Warri, with a total installed capacity of 445,000 barrels per day, have not been able to produce a single drop of fuel in recent years. However, in the last three years employees earned N250.3 billion in wages,…

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‘Police, Army, EFCC, Customs, fail to curb petrol smuggling’ – NNPC GMD laments

Aminu Imam

Seeks lawmakers intervention  Nigeria is running out of options to deal with the smuggling of imported petrol out of the country and the state-owned oil firm is now asking lawmakers to intervene after all the security agencies fail to resolve the problem. The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Mele Kyari,  in a presentation during the House of Representatives Committee on Finance at an interactive session on the 2022-2024 Medium Term Expenditure and Revenue Framework (MTERF) and Fiscal Strategy Paper (FSP), asked lawmakers to intervene. According to a…

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IPMAN threatens to suspend distribution of products in Port Harcourt, Enugu, Makurdi, others

Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has threatened to suspend the supply and distribution of products within its designated eastern zone effective Monday. In a circular signed by Sanusi Fari, the associations national president, IPMAN said the development is due to alleged harassment of its members by the police. Depots to which IPMAN supplies products in its designated eastern zone include Aba, Calabar, Enugu, Makurdi, and Port Harcourt. Following the series of unwarranted attacks by the Police against IPMAN, Eastern zone, comprising the National Executive Committee of IPMAN…

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PIB: Lawyers advocate restructuring of petroleum ministry

Abdul-Azeez Ahmed Kadir

Abuja-based lawyers, Messrs Pelumi Olajengbesi and Henry Kelechukwu, have appealed to the National Assembly (NASS) to ensure that the proposed Petroleum Industry Bill (PIB), 2020 was tailored to strengthen the policy arm of the petroleum industry and the Ministry of Petroleum Resources. The lawyers made the appeal in a memorandum on the PIB they jointly signed and addressed to the Senate Committee on Gas Resources in Abuja on Wednesday. Olajengbesi and Kelechukwu, both Senior partners at the Law Corridor, an Abuja-based law firm, stated that the bill should be properly…

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