Connect with us

Headlines

NNPC Assures Fuel Will Continue to Sell for N145 Per Litre

Published

on

Despite increased landing cost of petroleum products, Premium Motor Spirit will continue to sell at N145 per litre, the Nigerian National Petroleum Corporation has said.

In a telephone interview with our correspondent in Abuja on Wednesday, NNPC Group General Manager, Public Affairs, Mr Ndu Ughamadu, said that the corporation would continue to bear the cost of under-recovery of petrol through other sources.

Ughamadu said, “The Federal Government has made it clear; petrol will continue to sell at N145 per litre. NNPC is not operating subsidy. What we have done is under-recovery of which we make up from other sources.

“Yes, the under-recovery will continue. The corporation plays many roles in the country. We are an importer of the last resort where others refuse to import.

“We equally operate in a social regime to make sure that the system gets wet with products because if the corporation is not doing that as part of its responsibilities, you can imagine what the system will look like.”

Meanwhile, the NNPC on Wednesday denied that it had spent $22bn on the Brass LNG project.

In a statement made available to our correspondent in Abuja, Ughamadu said that the corporation had spent $1.2bn on the project.

Ughamadu said that the corporation made the clarification at the House of Representatives Ad-hoc Committee investigating the expenditure.

The statement quoted the General Manager, New LNG Venture of the NNPC, Ahmed Dikko, as telling the committee that the $1.2bn was about the total money spent so far by the various shareholders to get the project to its current stage.

Dikko said, “This sum included the cost of acquiring project land, which covers approximately 606 hectares, cost of early works contract, Front End Engineering Design, Pre-FEED Concept Evaluation Study, Project Environmental Impact Assessment comprising both onshore and offshore studies, dredging, EIA activities and ambient noise survey, displacement and settlement action plan, cultural site heritage study, staff and administration project cost from inception, and sustainable development cost, among others.”

The Punch

Continue Reading
Advertisement

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

Travel Agent Scams Cristiano Ronaldo of £250,000, Jailed

Published

on

A travel agent, named Maria Silvia scammed Manchester United striker, Cristiano Ronaldo, out of £250,000 (about N140 million) after the football star entrusted her with his credit cards and pin.

The 53-year-old travel agent also scammed Ronaldo’s super-agent Jorge Mendes of £14,000 and Manchester United winger, Nani, of over £1,500.

Due to her wrongdoing, Silvia got a four-year suspended prison sentence on Sunday after being earlier convicted by a Porto criminal court in 2017.

It was also revealed that Ronaldo was targeted for three years between February 2007 and July 2010.

The paper read, “Afterwards the travel agent had to plug the hole in the firm’s accounts. She, therefore, began to bill those trips to Cristiano Ronaldo, who had an account at Geostar and for practical reasons, handed the agent a virtual credit card and pin code. It was a green route to taking money out.”

Quoting a renowned Portuguese daily Jornal de Noticias, Sun Sports reported that the 36-year-old Ronaldo submitted a statement to the police after flying to the court to meet up with his lawyer.

The travel agent, who currently works as a cleaner, was first interrogated in 2011 before her eventual sentence on Sunday, September 19, 2021.

Continue Reading

Headlines

I am Getting Better, Says Hospitalised Pele

Published

on

Brazilian football legend Pele said Sunday he is “punching the air” to celebrate “every better day” after the 80-year-old suffered his latest health scare.

“As you can see, I’m punching the air in celebration of every better day,” Pele wrote on Instagram beside a photograph of him sitting in a hospital chair, watched over by two medical staff.

The three-time World Cup winner was Friday briefly transferred back to an intensive care unit at the Albert Einstein Hospital in Sao Paulo, where he underwent surgery earlier this month, after suffering breathing difficulties.

“A good mood is the best medicine and I have plenty of that. It couldn’t be different,” he added Sunday.

“I have received so much affection that my heart is full of gratitude. Thanks to all the amazing staff at Albert Einstein Hospital!”

His condition had been described as stable.

Pele’s daughter Kely Nascimento also posted a photo of herself next to her father in the hospital on Friday, seeking to cheer up his fans.

Agency Report

Continue Reading

Headlines

We Won’t Accept Second Position in 2023 – NEF

Published

on

The Northern Elders Forum has said the north was in the process of rebuilding itself and was not prepared to play second fiddle in a nation where it clearly enjoys numerical strength.

Director of Publicity and Advocacy of the NEF, Dr. Hakeem Baba-Ahmed, said this while delivering a keynote address at the maiden Maitama Sule Lecture Series organized by the students’ wing of the Coalition of Northern Groups, held at Ahmadu Bello University, Zaria, on Saturday.

He said, “We will lead Nigeria the way we have led Nigeria before whether we are President or Vice President, we will lead Nigeria. We have the majority of the votes and democracy says vote whom you want.

“Why should we accept a second class position when we know we can buy a form and contest for first class and we will win?

“Why does anybody need to threaten us and intimidate us? We will get that power but be humble because power comes from God. We inherited leadership and being honest is not being stupid.

“The North has pride; we are humble enough to know that we are going to run Nigeria with other people but we are not going to pay a second fiddle to anybody. We may not have the most robust economy, there are people who are trying to strangulate us even more than we are being strangled.

“We are ready for this. We will consider every economic adversity, challenge. We will fix the Northern economy and we are the only one who can fix this Northern economy. For that reason, we are not for sale. We are in the process of rebuilding the North and we will rebuild the North from 2023.

“Whether the North holds power in 2023 or not anybody who wants to break up in this country will say so, they are just looking for excuses. This is democracy. If they don’t like what Nigeria is, they will say they want to break up from this country, we don’t pay attention to those people, we are focused on the fact that we are running a democratic system.

The NEF’s spokesman added, “If the majority of Nigeria voters vote for a candidate from the North and he becomes the President and somebody doesn’t want to live under the Nigeria President, the person can leave.”

The Punch

Continue Reading