The Federal High court sitting in Lagos had on Wednesday ordered the final forfeiture of N2.7 billion corruptions proceeds recovered from former chief of Air Staff, Adesola Amosun to the Federal Government of Nigeria. The order was directed by Mojisola Olatoregun, the judge in response to an application filed by the Economic and Financial Crime Commission (EFCC) in June 2018.
The suitable time to end fuel subsidy totally by the Federal Government and also deregulate the downstream sector is now as the global crude price is at its lowest ebb, economy and energy expert disclosed. The Brent crude at the international oil market benchmark closed around $66.87 per barrel in 2017 raising to as high as $86.74 in October, 2018 which later dropped since then.
The vice-presidential candidate of Peoples Democratic Party (PDP), Peter Obi has spit fire on continued petroleum subsidy by the federal government. Mr Obi who stated this on Channel Television Program tagged “Politics Today” on Tuesday said “any serous government” would prefer to spend fuel subsidy fund to development of healthcare and Education to its citizenry rather than what is obtainable.
Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru in a comprehensive end-of-year-message to staff of the agency, listed Nigerian Petroleum Development Company (NPDC), Nigerian Gas Company (NGC), Petroleum Products Marketing Company (PPMC), Duke Oil, NIDAS and Integrated Data Services Limited (IDSL) as the re-engineered companies of the NNPC.
President Buhari said yesterday he was committed to the Nigerian oil sector reform, he disclosed he is ready to assent to the Petroleum Industry Governance Bill (PIGB) as soon as the National Assembly pass it to him for assent. Mr, President who made this declaration at the 40th anniversary of the National Union of Petroleum and Natural Gas Workers (NUPENG), in Abuja.