Increase In Petrol Price Looms, As NNPC GMD Says Nigeria’s Price Is The Cheapest In West Africa

Mele Kyari - NNPC GMD

By Akinwale Kasali The nation is on the verge of witnessing a repeat of what happened four years ago when the pump price of Petrol jumped  from N97 to N145 a  few months after the inauguration of the President Muhammadu Buhari administration. A repeat of that is allegedly in the offing. The government may increase the pump price of Petrol to much more than N145 a litre. The new Group Managing Director of the Nigeria National Petroleum Corporation, NNPC,  Mele Kyari, gave this inkling  when he dismissed  the N145 pump price…

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Inferno: NNPC Cuts Off Supply To Ijegun Pipeline

By Uche Mbah The fire that engulfed the sleeping community of Ijegun, Igando area of Lagos may have been contained when the Lagos State Emergency Management Agency, LASEMA, appealed to the Nigerian National Petroleum corporation, NNPC, to cut off fuel supply to the pipelines that was carrying the inferno. Recall that the Ijegun area was engulfed by fire in the early hours of Thursday when there was a pipeline explosion due to the activities of oil bunkerers. Bunkerrs were scooping fuel from the pipeline and carting away in tankers. On…

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Ministerial List: Buhari Dashes Kachikwu’s Hope

The hopes of former Minister of State for Petroleum Resources, Dr Ibe Kachikwu to be re-appointed into the cabinet of President Muhammadu Buhari appear to have been dashed. The writer cum politician , sources say is poised to return to government to fill the slot of Delta state in the administration. Recall that Presidential spokesman Femi Adesina recently hinted that President Buhari will not delay in constituting his cabinet. But few hours after that statement, President Buhari made the first appointment suggesting that he may have foreclosed the appointment of…

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Buhari Replaces Maikanti Baru, Appoints Alleged Aba Kyari’s Brother GMD

President Muhammadu Buhari has approved the appointment of Mele Kolo Kyari as the Group Managing Director, GMD, of the Nigeria National Petroleum Corporation, NNPC. He replaces the current GMD, Maikanti Baru, who bows out on July 7, 2019. Kyari, believed in some quarters to be a brother to former Presidential chief of Staff, Abba Kyari, hails from Borno. But former Aviation Minister, Femi Fani-kayode, claims that they are not related. He said he had known the Kyari  family for long, and that kolo is not a member of their family.…

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Fuel Subsidy Removal: Buhari Bows To World Bank, IMF

President Muhammadu Buhari

By Bayo Bernard No fewer than 80 vessels carrying over 350, 000 tons of petrol   arrived Lagos ports yesterday amidst speculations that the federal government may eventually bow to pressure from the international Monetary Fund, IMF and other international development partners to increase petrol pump price. Their arrival, government sources say, is to re-assure Nigerians that the product is abundantly available, therefore, no need for panic buying. But the comment of the minister of state for Petroleum Resource, Dr. Ibe Kachikwu that the FG has not taken any definitive position…

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NNPC/IPMAN Distract Nigerians Over Pump Price

By Oji Odu First, the Independent Petroleum Marketers Association of Nigeria (IPMAN) came up with a gimmick, following the postponement of the 2019 elections to reduce fuel pump price so as to help ease movement of voters to their polling stations. Today, the association is threatening hell and brimstone that they will unilaterally increase petroleum pump price to over the official N145 per litre if the depot owners keep selling to them at a hiked price of N135.50 instead of the N133.28 The Nigeria National Petroleum Corporation (NNPC) on its…

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$3.5Bn NNPC Subsidy Under Investigation

By Akinwale Kasali The Senate has set up an AD-HOC committee to investigate the $3.5bn NNPC subsidy money, and to ascertain what the money was used for. This disclosure was made in a tweet on the verified Twitter handle of The Nigerian Senate, @NGRSenate. “Senator Bassey Akpan cited Orders 43 and 95 and drew the attention of the Senate to the various emails and complaints from the general public on the unauthorised withdrawal of $3.5bn by NNPC from the NLNG account,” the Senate added. “I ask that the Senate Committee…

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Otedola Tanker Fire: Senate Probes NNPC, FRSC

The Senate has called on the Nigeria Police and the Federal Road Safety Corps to investigate the circumstances surrounding the explosion of a tanker laden with premium motor spirit (petrol) in Lagos last Thursday. The Senate also plans to meet with the FRSC and the Nigerian National Petroleum Corporation to seek amendment of extant laws needed to check accidents involving articulated vehicles. This was based on a motion at the plenary on Wednesday by Senator Gbenga Ashafa (Lagos-East), in conjunction with senators Oluremi Tinubu (Lagos-Central) and Solomon Adeola (Lagos-West). A…

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