Nigerian National Petroleum Corporation

SURE conceived hastily, no longer workable – Jonathan

Cassava bread President Goodluck JonathanOnce again, as shown by this report on Punch, Nigerians have been unbelievably deceived by President Goodluck Jonathan and his crew. When will we learn never to trust these people? Didn’t we all know SURE was a big lie?

PRESIDENT Goodluck Jonathan on Monday said the Subsidy Reinvestment and Empowerment programme promised by his administration was no longer realistic. (more…)

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Nigerian Fuel Subsidy Probe Abracadabra

Fuel Subsidy illusion

Someone has collated the most commonly asked questions in the recently concluded fuel subsidy probe by the House of Representatives and the answers different government officials gave to each question. The answers are so dissimilar it leaves you wondering if these officials worked for the same government.

Read them below.

Farouk Lawan: What is Nigeria’s daily fuel consumption?Diezieni: (more…)

Former Petroleum Minister, Tam David West, Say Petrol Should Sell at N40.02

FORMER PETROLEUM MINISTER ON FUEL SUBSIDY REMOVAL

1) One barrel of Crude oil = 42gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day

4) . . 133,500 barrels = 21.2 million litres (more…)

FG annouces immediate removal of Fuel Subsidy

What About Us

What About Us???

Press Statement

PPPRA Announces Formal Removal of Subsidy on Premium Motor Spirit (PMS)

Following extensive consultation with stakeholders across the nation, the Petroleum Products Pricing Regulatory Agency (PPPRA) wishes to inform all stakeholders of the commencement of formal removal of subsidy on Premium Motor Spirit (PMS), in accordance with the powers conferred on the agency by the law establishing it, in compliance with Section 7 of PPPRA Act, 2004. (more…)

Whose pocket does it flow into? – NNPC can’t account for 65, 000 barrels of crude per day

Steel drums used as shipping containers for ch...

65,000 Crude oil barrels belonging to NNPC goes missing daily

In Nigeria, you are 83 percent sure to find fraud wherever you look, but NNPC, like the police always assures you of fraud whenever you probe them.

In a continued display of fraud and secrecy, the Nigerian National Petroleum Corporation, on Monday failed to account for 65,000 barrels of crude oil allocated to daily.

The Group Managing director of NNPC, Austine Oniwon, told the senate committee investigating the management of Nigeria’s fuel subsidy that he was ignorant of the whereabouts of 65,000 barrels out of the 445,000 barrels of crude allocated to NNPC daily.

(more…)