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  • EFCC1
    Just In: Ex-NNPC boss, Andrew Yakubu, Jide Omokore arrested by EFCC

    Former Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu has been arrested by the Economic and Financial Crimes Commission (EFCC) alongside Jide Omokore, an oil magnate. Yakubu was arrested by the anti-graft agency Monday morning, following allegations of money laundering and corruption. Jide Omokore is a close business associate of former minister

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  • Crude oil
    Lagos joins oil-producing states as Aje field begins production

    Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the list of oil-producing states in the country. The milestone is coming after several missed targets for the achievement of first oil, the latest being March this year. Yinka Folawiyo Petroleum Company

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  • NNPC
    Nigeria needs $700 million to upgrade refineries – Kachikwu

    The Minister of State for Petroleum, Ibe Kachikwu, said on Saturday that the Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities. Mr. Kachikwu, who is also the Group Managing Director of NNPC, disclosed this while speaking with journalists during the re-inauguration of the Port Harcourt/Bonny Crude Supply Line

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  • osinbajo
    Pipeline security force to end vandalism underway

    The Federal Government is considering the creation of “a permanent pipeline security force” to protect sensitive pipelines across the country. Vice President Yemi Osinbajo said if established, such a force “would be armed with sophisticated weapons to ensure we contain the vandalism, and overhaul security.” Osinbajo called for an expedited repair of the Forcados Terminal

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  • NNPC
    Government rules out fuel price increase, return of subsidy

    Fuel subsidy has not been re-introduced by the Federal Government, according to the Petroleum Products Pricing Regulatory Agency (PPPRA). And the government has not increased the prices of petrol. It remains at the regulated prices of N86 at Nigerian National Petroleum Corporation (NNPC) filling stations and N86.50 at order outlets. It was learnt that that

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  • NNPC
    NNPC failed to remit N4.9tr to Federation Account, says Fiscal Commission

    Amid the denial by the Nigerian National Petroleum Corporation (NNPC) of the allegation by the Auditor- General of the Federation ( AuGF), Mr. Samuel Ukura, that it didn’t remit into the Federation Account N3.25 trillion crude oil minerals revenue, the Revenue Mobilisation, Allocation and Fiscal Commission ( RMFAC) has said the amount quoted by the

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