House of Reps investigates structure, accountability of NNPC joint venture business

The House of Representatives says it is investigating the structure and accountability of the Joint Venture (JV) business and production sharing contracts of the Nigerian National Petroleum Company (NNPC) Ltd. Represntative Hassan Fulata, the Chairman of the ad hoc committee, on Wednesday said his committee was investigating the Joint Venture Business and Production Contract of the NNPC from 1990 till date. Fulata said the probe became imperative as some NNPC accounts did not follow due process. He said his committee had discovered a secret account owned by the NNPC Ltd., alleging that…

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“We need N3.4trillion to subsidise daily fuel consumption – NNPC

The Nigerian National Petroleum Company (NNPC) Limited says the sum of N3.4 trillion is needed to subsidise the 66.7 million litres of Premium Motor Spirit (PMS), otherwise known as petrol, for daily consumption, and not the N4 trillion approved in this year’s budget. The Chief Executive Officer of NNPC, Mele Kyari, disclosed this at the resumed hearing of the House of Representatives ad-hoc committee investigating subsidy regime from 2013 to 2021 in Abuja, on Monday. Kyari, who was represented by the NNPC’s Chief Financial Officer, Umar Ajia, said there is…

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Falana drags NNPC to EFCC,  calls for probe on fraudulent oil importation, exportation, smuggling

Human rights activist and lawyer, Femi Falana, has dragged the Nigerian National Petroleum Company Limited (NNPCL) before the Economic and Financial Crime Commission (EFCC) calling for investigation into fuel importation and smuggling of petroleum products to Nigeria’s neighbours. Falana, in the petition dated September 15, said the anti-financial crime agency needs to urgently investigate the discrepancies observed in the daily consumption figures of PMS declared by the corporation at different public fora. He explained that the investigation has become necessary following indictment on the Corporation and the Ministry of Petroleum…

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Tompolo: ‘NNPC promoting criminality with N48bn surveillance contract’ – CISLAC boss

The Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Auwal Musa Rafsanjani, has condemned the Nigerian National Petroleum Company Limited (NNPCL) for awarding an N48 billion surveillance contract to an ex-militant, Government Ekpemupolo, better known as Tompolo. The CISLAC boss, who made this known in an issued statement yesterday, queried whether the value of the investments and allocations made from the national treasury to the numerous security paraphernalia in Nigeria if an ex-militant is seen to be more competent to deliver on security issues than the entire armed…

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‘NNPC’s support key to Nigeria’s tankers fleet implementation drive’ – Transport Minister

The Minister of Transportation, Mu’azu Jaji Sambo, has said that Nigeria’s effort toward a sustainable national fleet implementation is subject to support from the Nigerian National Petroleum Company Limited, (NNPC). Disclosing this in Abuja, on Tuesday, when he received an interim report on the need to establish a strong and sustainable national fleet by the Nigerian Fleet Implementation Committee, the minister stated that, “Nigeria is a maritime country, and if Nigeria gets its acts together the country will have no business looking for money from the oil sector as a…

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Fuel Subsidy Posers: “We’re ready for petrol supply forensic audit – NNPC Spokesman replies Customs Boss

The Nigerian National Petroleum Company Limited (NNPC) says it is ready for a forensic audit of its petrol supply and subsidy management framework. Its Group General Manager, Public Affairs Division, Garba Deen Muhammad, stated this in an issued press statement at the weekend. Recall that the Nigerian Customs Service (NCS) had refuted claims by the NNPC that citizens consume about 60 million litres of petrol daily. It further alleged that the oil company was supplying an excess of 38 million litres of petrol daily since “98 million litres” were lifted…

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“NNPC N6trillion fuel subsidy is a fraud” – Customs Boss, Hameed Ali 

…Says over 38m litres of petrol leave Nigeria daily The Comptroller-General of Nigerian Customs Service (NCS), Hameed Ali, yesterday faulted the over N6 trillion allegedly being paid as fuel subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, in 2022 fiscal year by the Nigerian National Petroleum Company (NNPC) Limited. The Customs Boss, who disclosed this while defending the NCS presentation on the 2023-2025 Medium-Term Expenditure Framework (MTEF) and Fiscal Policy Paper (FSP), held at the instance of the House Committee on Finance, chaired by Hon. Abiodun James Faleke,…

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NNPC in ‘locked agreement’ to supply Dangote Refinery crude oil for 20 yrs

The Federal Government says it has high hopes the Dangote Refinery will help solve its petroleum importation challenge. And it hopes for more: amid fears of an oil glut as nations move to cleaner energy, Nigeria will still be able to sell to the privately-owned refiner for at least 20 years. To do this, the Government has locked down a right-of-first-refusal agreement with the company, with Nigeria owning 20 percent of the firm. The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, said this on…

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Video Surveillance: In race to curb rising theft, NNPC adopts Saudi Aramco’s model

With losses from pipeline vandalisation and theft overwhelming Nigeria’s oil business in recent weeks, the Nigerian National Petroleum Company Limited (NNPC) has said it is adopting Saudi Aramco’s model of using video surveillance to monitor its pipelines carrying crude oil from wells to flow stations in the Niger-Delta. The Group Chief Executive Officer (GCEO) of NNPC Limited, Mele Kyari, disclosed this during a press briefing at the State House in Abuja yesterday. According to him, “We have put up a control centre, it started in April 2022; it’s not yet…

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Pipelines Surveillance: Ex-militants threaten mass attacks on oil installations over N48bn NNPC contract

Some agitators, under the aegis of ‘Akwa-Ibom Ex-Militants Forum’ have asked the Federal Government to revoke the N48 billion pipeline surveillance contract awarded to the ex-militant warlord, Government Ekpemupolo, alias Tompolo. In a petition addressed to President Muhammadu Buhari, copied to security agencies and made available to newsmen, the agitators claimed that they were undermined by the Federal Government regarding pipelines that pass through Akwa-Ibom State. They threatened to resume hostilities by attacking oil installations in the state if their demands are not met in seven days beginning from Sunday,…

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