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$1.2m NNPC 'bribe' used to finance Jonathan, Buhari elections – Report

$1.2m NNPC 'bribe' used to finance Jonathan, Buhari elections – Report
dailytrust.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytrust.com Daily Mail and Mail on Sunday newspapers.

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How police 'extort' victims before tracking kidnappers, thieves

How police 'extort' victims before tracking kidnappers, thieves
dailytrust.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytrust.com Daily Mail and Mail on Sunday newspapers.

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NNPC commercialised as Senate passes PIB

The Red Chamber approved the commercialisation of Nigerian National Petroleum Corporation (NNPC) and the scrapping of the Petroleum Equalisation Fund (PEF) and Petroleum Products Pricing Regulatory Agency (PPPRA).
It also okayed 30 per cent of profits accruing from oil and gas operations by the NNPC Limited for the exploration of oil in the frontier basins and set aside three per cent of the operating expenditure of oil companies for the development of host communities.
The Chairman of the Joint Committee, Sabo Muhammed Nakudu, said the bill’s passage and eventual assent into law would strengthen accountability and transparency of NNPC limited as a full-fledged company. ....

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How smuggled petrol from Nigeria floods Niger, Cameroon, Benin, Togo

How smuggled petrol from Nigeria floods Niger, Cameroon, Benin, Togo
dailytrust.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytrust.com Daily Mail and Mail on Sunday newspapers.

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Nigerians react as FG alerts on fuel price increase

However, the Minister of State, Petroleum Resources, Chief Timipre Sylva, at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP) in Abuja on Tuesday said Nigerians should brace up for higher fuel price.
The NUCOP launch was to find ways of reducing the cost of crude oil production and processing, officials said.
Sylva also said with no provision of subsidy in the 2021 budget, the Nigerian National Petroleum Corporation (NNPC) couldn’t continue to bear the cost of under-recovery.
“Since we are optimizing everything, NNPC needs to also think about the optimization of product cost because as we all know oil prices are where they are today, $60. As desirable as this is, this has serious consequences as well on product prices. ....

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