NNPC

Kwankwaso tells Nigerians to Reject APC, PDP, “They have failed”

Kwankwaso tells Nigerians to Reject APC, PDP, “They have failed”

Former governor of Kano State and presidential candidate of the New Nigeria Peoples Party (NNPP) for the 2023 election, Senator Rabiu Musa Kwankwaso has called on the citizens of the country to reject the candidates of the All Progressives Congress and the Peoples Democratic Party. He said they have failed the nation over the years. The former governor noted that the two major political parties have failed over the years to provide succour for Nigerians across all sectors of governance, adding that all indices of socio-economic development are daily rising in the negative side. Kwankwaso, who spoke on Sunday in…
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Timi Frank urges EFCC, ICPC to probe $3.7bn repair cost on ‘dead’ refineries

Timi Frank urges EFCC, ICPC to probe $3.7bn repair cost on ‘dead’ refineries

Press Release - 24/4/2022 Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, on Sunday, called on the nation’s anti-graft agencies to urgently probe alleged award of $3.7billion contract to rehabilitate dead refineries. Frank in a statement in Abuja strongly condemned the award of the said $3.7billion contract to rehabilitate the nation’s refineries as revealed by the House of Representatives Adhoc Committee investigating the state of refineries in the country. He described the sum of the contract as an unimaginable heist and brutal looting of the nation’s financial resources under President Muhammadu Buhari’s watch in…
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FG pays $194m for Port Harcourt refinery, plans additional $98m, N17.2bn

FG pays $194m for Port Harcourt refinery, plans additional $98m, N17.2bn

The Federal Government has processed $98m and N17.2bn as partial payments for the ongoing rehabilitation of the Port Harcourt Refining Company, it was learnt on Friday. It was also gathered that the government had made an initial payment of $194m, being the 15 per cent advance payment required for the rehabilitation of the facility, to Tecnimont SpA of Italy. A report obtained by our correspondent from the Nigerian National Petroleum Company on the financial status update of the rehabilitation said the project was financed by an equity contribution by the sponsor and loan by lenders (AfreximBank). The report indicated that…
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Oil firm executive on trial over attempt to defraud CBN of $100 million

Oil firm executive on trial over attempt to defraud CBN of $100 million

The Group Managing Director (GMD) of an oil marketing firm, Triumph Oil and Gas Madagascar Nigeria Limited, Ibrahim Olanrewaju Mahmud, was on Monday arraigned before an Abuja, FCT high court over an alleged attempt to defraud the Central Bank of Nigeria (CBN) to the tune of $100 million. Although Mahmud was granted bail by the court, he was ordered to be remanded in prison custody after failing to fulfil the bail conditions. Mahmud, who was arraigned before the FCT court on a six-count charge, was also accused of forging the signatures of CBN Governor Godwin Emefiele, Special Assistant to the…
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Buhari approves incorporation of NNPC, appoints board members

Buhari approves incorporation of NNPC, appoints board members

The President, Major General Muhammadu Buhari (retd.), has directed that the Nigerian National Petroleum CompanyLimited be incorporated. He also approved the appointment of the Board and Management of the NNPC Limited with Senator Ifeanyi Ararume as Chairman. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, was appointed Chief Executive Officer. This was contained in a statement by his Special Adviser on Media and Publicity, Mr Femi Adesina, saying that the president acted in accordance with the Petroleum Industry Act 2021. The statement read, “President Muhammadu Buhari, in his capacity as Minister of Petroleum Resources,…
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