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DPR revokes Addax Petroleum oil mining licences

The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OML) belonging to Addax Petroleum due to the non-development of the assets by the petroleum company.

PIB: Stakeholders want 10 percent derivation for host communities

Stakeholders in the oil and gas industry, Thursday demanded a raise of the oil operating expenditure from 2.5 per cent to 10 per cent for host communities in the new petroleum industry bill (PIB).
The supreme court, on Friday, dismissed a suit filed by Shell Petroleum Development Company of Nigeria (SPDC), seeking the review of a judgment ordering it to pay N17 billion to some Ogoni communities in Rivers state.

Seplat: Access Bank wants Supreme Court to reverse Appeal Court’s ruling

Access Bank Plc at the weekend said it had filed a notice of appeal at the Supreme Court to challenge the decision by the Lagos Division of Court of Appeal to upturn the suspension of the interim order made by a Federal High Court in Lagos sealing the corporate offices of Seplat Petroleum Development Company (SPDC) and freezing its accounts, in respect of loan obtained by Cardinal Drilling Services Limited.
Seplat Petroleum Development Company

Appeal court unseals Seplat Petroleum’s offices

The Lagos Division of the Court of Appeal has suspended the interim order issued by a Federal High Court sealing the corporate offices of Seplat Petroleum Development Company over loan which Cardinal Drilling Services Limited allegedly owed Access Bank Plc.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

N1.1 billion fraud: Lagos businessman for arraignment January 8

The absence of the Chief Executive Officer of a limited liability company, Kenneth Ndubuisi Amadi, and his company Idid Nigeria Limited alleged to have obtained the sum of N1,115.000,000 by false pretence from a Petroleum company stalled their arraignment before a Federal High Court sitting in Lagos on Thursday.

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The governor of Ondo State, Rotimi Akeredolu, has reacted to his victory at the primary election of the All Progressives Congress (APC).

Ondo governor orders residents to submit illegal weapons to police

Governor Rotimi Akeredolu has called on Ondo residents to turn in illegal weapons in their possession and threatened to sanction any traditional ruler in the state who cannot contain the activities of cultists in their domain.
The Obi of Onitsha, Igwe Alfred Achebe, Vice Chancellor, UNIZIK, Prof Charles Esimone , Panel Chairman, Barr. Danladi Kifasi with other members of the Visitation Panel during a courtesy call at Imeobi palace yesterday.

Obi of Onitsha: Ndigbo proud of Nnamdi Azikiwe University

Traditional Ruler of Onitsha kingdom, Igwe Nnaemeka Achebe, has described Nnamdi Azikiwe University, Awka as a pride for the Igbo and called for more government and private support to the institution.
FILE PHOTO: Director-General of the World Trade Organisation Ngozi Okonjo-Iweala speaks during a press conference remotely on the annual global WTO trade forecast at the headquarters of the World Trade Organization (WTO) in Geneva, Switzerland March 31, 2021. Salvatore Di Nolfi/Pool via Reuters/File Photo

WTO chief: U.S. support for coronavirus patent waiver will push WTO talks

A United States’ proposal to discuss waiving patent protections for COVID-19 vaccines will intensify talks on the issue within the World Trade Organisation, the WTO director general said on Friday
The Federal Trade Commission (FTC) has published its long-awaited report on how manufacturers limit product repairs. The “Nixing the Fix” report details a host of repair restrictions, especially those imposed by mobile phone and car manufacturers.

FTC report blasts manufacturers for restricting product repairs

The Federal Trade Commission (FTC) has published its long-awaited report on how manufacturers limit product repairs. The “Nixing the Fix” report details a host of repair restrictions, especially those imposed by mobile phone and car manufacturers.
The bill for the Chartered Institute of Forensic and Certified Fraud Examiners of Nigeria has scaled the First Reading in the House of Representatives .

House summons NNPC, Addax, others over ‘irregularities’ in oil sector

The House of Representatives Committees on Petroleum Resources (Upstream), which is investigating the circumstances surrounding the revocation and award of oil mining leases (OML), has given the Nigerian National Petroleum Corporation (NNPC), Addax Petroleum Company Limited and Santex Nigeria Limited two-week ultimatum to appear before it and explain alleged irregularities in the corporations.

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Senator Bwacha: Nigeria sliding into anarchy

Following rising security challenges bedeviling the country, the Senate deputy minority leader, Senator Emmanuel Bwacha has said that Nigeria is sliding into the state of anarchy and needs prayers for God intervention.

Documentary on legendary former Manchester United boss Alex Ferguson set for release

The teaser trailer for an upcoming documentary about one of the greatest managers in English Premier League history, Sir Alex Ferguson, with the eponymous title “Sir Alex Ferguson: Never Give In,” has been made public to draw attention to the release.
President Muhammadu Buhari is presiding over a high-level security meeting at the State House over the rising insecurity in the country. In attendance are Vice President, Yemi Osinbajo, as well as Secretary to the government of the federation, Boss Mustapha, Ministers, Service Chiefs, acting Inspector-General of Police and Intelligence chiefs.

NSA: Why President Buhari adjourned security meeting

The National Security Adviser, NSA, Major General Babagana Monguno (retd), said the Security meeting on Friday was adjourned to Tuesday next week in order to receive further briefings from the Security Chiefs.
Governor Douye Diri has expressed worry over the development, following the lifting of the ban on interstate travel.

Bayelsa governor urges new INC leadership to protect Ijaw interest

Governor Douye Diri of Bayelsa State has charged the new executive of the Ijaw National Congress (INC) to protect the interest of the Ijaw nation at all times.
The highly infectious variant of the novel coronavirus that is predominant in the United Kingdom may be up to 70 percent more deadly than previous strains, according to a report by the government’s scientific advisers.

Nigerian records 34 new coronavirus cases

The Nigeria Centre for Disease Control (NCDC) says it registered 34 new cases of COVID-19 in three states of the federation and the Federal Capital Territory (FCT).g