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Petroleum Equalisation Fund

Nigerian National Petroleum Corporation (NNPC)

Petrol: No increase in ex-depot price in May – NNPC

The Nigerian National Petroleum corporation (NNPC) says it will not increase the ex- depot price of Premium Motor spirit also known as petrol in May.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the proposed scrapping of the Petroleum Equalisation Fund (PEF), asserting that it fosters national unity.

Nigerian government urged not to scrap PEF

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has appealed to the federal government not to yield to calls to scrap the Petroleum Equalisation Fund (PEF).
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the proposed scrapping of the Petroleum Equalisation Fund (PEF), asserting that it fosters national unity.

IPMAN rejects scrapping of Petroleum Equalisation Fund

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has rejected the proposed scrapping of the Petroleum Equalisation Fund (PEF), asserting that it fosters national unity.
Petrol Tankers

Oil marketers fault plan to fix freight rate for petrol

Major Oil Marketers Association of Nigeria (MOMAN) says plans to fix the freight rate for Premium Motor Spirit (PMS) can hinder the downstream sector’s full deregulation.

Petrol to sell for N162.44 per litre as from December 14

The Federal Government has reduced the pump price of premium motor spirit (petrol) from N168 per litre to N162.44 per litre effective from December 14, 2020.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

Nigerian government not financially able to pay subsidy – minister

Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government was not currently capable, financially, to pay the subsidy.

Archbishop Kaigama denies soliciting oil-sector job from VP Osinbajo

The Catholic Archbishop of Abuja, Most Rev. Ignatius Kaigama, has denied ever soliciting oil-sector jobs from the office of the vice president, Yemi Osinbajo.
The Independent Corrupt Practices and Other Related Offences Commission (ICPC), has detained Mr Goddy Nnadi, the General Manager (Corporate Services), Petroleum Equalisation Fund.

ICPC confirms PEF chief’s arrest

The Independent Corrupt Practices and Other Related Offences Commission (ICPC), has detained Mr Goddy Nnadi, the General Manager (Corporate Services), Petroleum Equalisation Fund.

Courts grants final forfeiture of plaza, houses traced to official accused of corruption

The Federal High Court in Abuja Thursday ordered the final forfeiture of six properties traced to Goddy Nnadi, a general manager of the Petroleum Equalisation Fund.
The Department of Petroleum Resources (DPR) has sealed a filling station in Katsina State, north-western Nigeria.

DPR seals five filling stations in Cross River for sharp practices

The Department of Petroleum Resources (DPR) has sealed five fillings stations in Cross River for selling petrol above the government approved price of N145 per litre and other offences.

IPMAN hails automation of downstream sector

The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano unit, has commended the launching of the automation of the downstream sector of the petroleum industry.
Waziri Adio NEITI

Nigeria earned N28.6 trillion from oil, non-oil sources in five years

The Nigeria Extractive Industries Transparency Initiative (NEITI) said that N28.58 trillion was remitted to the Federation Account between 2012 and 2016, from mineral revenues, non-mineral revenues and Value Added Tax (VAT).
Waziri Adio NEITI

NEITI: N28.58 trillion remitted into Federation Account in five years

N28.58 trillion was remitted to Nigeria’s Federation Account between 2012 and 2016, according to a report from the Nigeria Extractive Industries Transparency Initiative (NEITI).
The Department of Petroleum Resources (DPR) has sealed 30 fillings stations in Cross River for selling petrol above the approved price of N145 per litre and other offences.

DPR seals 30 filling stations in Cross River

The Department of Petroleum Resources (DPR) has sealed 30 fillings stations in Cross River for selling petrol above the approved price of N145 per litre and other offences.

IPMAN urges federal government to fix refineries before deregulation

The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday advised the Federal Government to deregulate the donstream oil sector so as to attract investors and end fuel scarcity.
The Petroleum Equalisation Fund (PEF) says it’s newly introduced automation distribution system has helped the monitoring of movement of petroleum products across the country.

PEF explains new automation for monitoring petrol distribution

The Petroleum Equalisation Fund (PEF) says it’s newly introduced automation distribution system has helped the monitoring of movement of petroleum products across the country.

NAEE chief hails passage of petroleum industry bill

Prof. Wunmi Iledare, outgoing President, Nigeria Association for Energy Economics (NAEE) says the passage of the Petroleum Industry Governance Bill (PIGB) by the senate was a welcome development for the industry.

Federal government moves to monitor daily consumption of petrol

The Federal Government yesterday said it has taken measures to end the guess work on the millions of litres of Petroleum Motor Spirit (PMS) used daily in the county.

House of Reps summons NNPC, finance minister over alleged unbudgeted subsidy payments

The Minister of Finance, Mrs. Zainab Ahmed, and the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, have been summoned to appear before a House of Representatives joint committee next Thursday to explain their roles in an alleged unbudgeted funds being paid as fuel subsidy.

IPMAN: We will not join planned strike

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that it would not be a party to the planned strike by other oil marketers.

NEC, FAAC approve $1.05bn NLNG dividends for fuel subsidy

The National Economic council (NEC) and the Federation Allocation Accounts Committee (FAAC) have approved the use of Nigeria Liquiefed Natural Gas dividends for financing of the petroleum products importation.
Nigerian National Petroleum Corporation (NNPC)

NNPC: $1.05 billion petrol supply support fund sourced from NLNG dividends

The Nigerian National Petroleum Corporation (NNPC) has disclosed the source of the $1.05 billion revolving fund it said it uses to support its supply of petrol to Nigerians since private oil marketers stopped importing and supplying petrol in the country.

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FILE PHOTO - A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS-Yuriko Nakao-File Photo

Fake currency gang busted with over $5 million at Ghana airport

The National Security has busted a 13-member gang involved in the printing and distribution of fake currency notes to unsuspecting victims, mostly foreign nationals.
Spartak Moscow manager Domenico Tedesco has revealed how Victor Moses has been a great help to his side since his arrival from Chelsea.

Spartak boss: Victor Moses has helped us a lot since his arrival from Chelsea

Spartak Moscow manager Domenico Tedesco has revealed how Victor Moses has been a great help to his side since his arrival from Chelsea.
Kylian Mbappe is a doubt for Paris Saint-Germain’s Champions League semi-final second leg against Manchester City tonight according to coach Mauricio Pochettino.

PSG sweat on Mbappe fitness for Man City Champions League clash

“I think we need to assess Kylian. Today he is going to start training individually and then we’ll see if he can be with the team at the end,” Pochettino told reporters at a press conference on Monday just before his side’s last training session prior to the game.
Bill and Melinda Gates in Paris, France, on 21 April 2017. Frederic Stevens-Getty Images

Divorce: Bill and Melinda Gates kids to inherit $10 million – report

After Bill and Melinda Gates’ divorce documents revealed the couple never had a prenup, many are wondering how the couple, with a combined net worth of $130 billion, will split their assets.
“At this moment, l cannot say how many students were taken away by the gunmen until l get there, but we have already mobilized security men and members of the vigilantatè who are now in pursuit of the abductors,” the commissioner stated.

MBF: Nigerian government watches helplessly as bandits hold sway

The Middle Belt Forum has described as sad the threat by bandits to kill the students they abducted from Greenfield University, Kaduna.

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FILE PHOTO: A man runs past Jacaranda trees covered in purple petals amid the spread of coronavirus disease (COVID-19) in Nairobi, Kenya October 18, 2020. REUTERS/Thomas Mukoya

Kenyan president lifts coronavirus lockdown imposed last month

Kenyan President Uhuru Kenyatta on Saturday lifted the COVID-19 lockdown he imposed last month, allowing for a reopening of bars and restaurants, religious services and schools,

Nnia Nwodo: I’ve never indicted IPOB for killings in South-East

Former Minister of Information, Chief John Nnia Nwodo, has dissociated himself from social media reports in which he purportedly accused the Indigenous People of Biafra (IPOB) of masterminding the killings and insecurity in the South East region of the country.
A Nigerian police officer holds a bunch of handcuffs in Abuja on October 3, 2020. Sodiq Adelakun-Channels TV

Vigilantes nab 19 bandit informants in Niger

No fewer than 19 suspected agents of bandits have been arrested by men of the local security outfits in Munya and Shiroro Local Governments Areas of Niger State.
Nigerian winger Moses Simon teams Nantes starting XI as Canaries trip to Principality side AS Monaco for the third match day of the French Ligue 1.

Moses Simon makes Ligue 1 Team of Week

Moses Simon has earned his first selection this season in the French Ligue 1 Team of Week by L’Equipe after a superlative showing for FC Nantes.

Katsina emirate council suspends district head for ‘banditry’

The Katsina Emirate Council has suspended the Sarkin Pauwan Katsina, who is also the district head of Kankara, Yusuf Lawal, over alleged involvement in aiding and abating banditry activities in his domain.