The Nigerian National Petroleum Corporation (NNPC) has urged Nigerians to disregard rumours of an impending scarcity of petrol in the country. In a statement issued by Ndu Ughamadu, NNPC spokesman on Thursday, the corporation said such rumours were “tales fabricated by mischief makers with intent to create undue panic in the prevailing sanity in the fuel supply and distribution matrix across the country”. “The Nigerian National Petroleum Corporation (NNPC) has once again appealed to Nigerians to disregard trending social media report of an impending fuel scarcity due to purported refusal by some oil marketers to lift products from depots,” the statement read. The state oil firm reassured Nigerians that it already has an ample stock of over one billion litres of petrol,
Nigeria’s indigenous automobile company, Innoson Vehicles Manufacturing, has requested shares from Guaranty Trust Bank (GTB), should the bank not be able to obey the supreme court’s judgement on a debt of N8.7bn. Innoson had last week said the supreme court had refused to grant the bank an injunction to restrain Innoson from executing the judgement against it. However, GTB had insisted that the judgment was against Garnishee Proceedings, an account of the Nigerian Customs Service (NCS) board, domiciled with the Bank and not against the bank as an entity. Erhi Obebeduo, secretary of the bank, said GTB was taking all necessary legal steps to ensure that no “illegal or fraudulent execution” is carried out. But responding on Sunday, Cornel Osigwe, Innoson’s head corporate co
Former Director of Strategy/Communication under ex-President Goodluck Jonathan, Jackson Ude, has reacted to the directive by the Federal Government that the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele, should vacate office. The Nigerian Government had directed the CBN governor to embark on leave, ahead of expiration of his tenure. Emefiele was said to have received letter to this effect on Monday. However, Ude said the alleged cabal in the current government would take over when Emefiele finally leaves office. In a tweet, he wrote: “CBN Governor, Godwin Emefiele has been issued two weeks to clean his table, make it super clean, then resign quietly. “The Cabal would officially take over the NNPC, CBN, NSPMC and all! #NextLevelConfirmed If you are waiting
Godwin Emefiele remains the governor of the Central Bank of Nigeria, TheCable can report. Emefiele reportedly received a letter from the office of President Muhammadu Buhari on Monday to vacate his office. Sources within the presidency told TheCable there is no truth in the reports. “The president does not have the power to sack the CBN governor without the approval of the national assembly,” one of the persons familiar with the matter told TheCable. “The reports are fake.” When TheCable likened the matter to the suspension of Muhammad Sanusi II, the former CBN governor, the source said: “Suspension is different from sack, and Emefiele has not done anything wrong to be suspended or asked to proceed on terminal leave.” Section eight of the CBN Act of 2007 says a CBN g
Associates Limited, authorized distributor of Mercedes-Benz in Nigeria is set to introduce the new Mercedes Benz GLE SUV in Nigeria. Managing Director, Weststar Associates Limited, Mr. Mirko Plath, described the new GLE as one of the welcome innovations in the global automobile industry. He said that with features like the MBUX the world continues to move towards a more digitalized era and that Nigeria isn’t left out. With the growing demand for Mercedes-Benz cars in Nigeria, he believes the new GLE will be well received. The new GLE, according to him, remains an iconic member of Mercedes-Benz SUV and its newest installments has largely exceeded expectations. With first of its kind innovations and an even more personal interaction between the driver and car, customers can look f
Twenty-three years after it was created the first aircraft on Thursday landed at the Bayelsa State International Airport. The 3.5 kilometer runway airport according to the Governor, Seriake Dickson was built at the cost of over N65 billion. Dickson said it is the first aircraft to land in any airport in Izon land, the heartland of the Ijaws. He said the clarification over the cost of the airport project had become imperative because of allegations peddled by Senator Heineken Logbobiri who said the project gulped between N120 to N150 billion. The senator had alleged that the airport was flooded. Speaking at the airport when an Air Peace Embraer Regional Jet that flew from Lagos landed at the runway, to the tumultuous welcome of Bayelsa indigenes, Dickson said the facilit...
Atiku Abubakar, the Peoples Democratic Party’s, PDP, presidential candidate has cautioned northern Nigerians not to allow themselves be deceived again by President Buhari that his government had commissioned oil and gas for the region in Bauchi State. This was just as Atiku said that President Buhari was already in fever of losing the general election, following his (Atiku) acceptance, popularity by the people and failure of the ruling party. The PDP presidential candidate made the statement during campaign tour in Bauchi on Tuesday. He added that there was no room for Buhari and warned him not to use oil and gas exploration as a ploy to again deceive Nigerians to reelect him. “PDP discovered the oil and gas in Bauchi State and it’s unfortunate that APC is today claimi
Nigerian National Petroleum Corporation, NNPC, weekend, issued a caveat against heightened expectations of an early find of crude oil and gas in the north, warning that discovery of hydrocarbons in the region might not be immediate, as it might take years or decades to achieve. Speaking during the Presidential Spud-in (drilling) of Kolmani River II Well, in Barambu community in Alkaeri Local Government Area, between Bauchi and Gombe states, Group Managing Director of NNPC, Mr. Maikanti Baru, warned that oil was discovered in Niger Delta after 50 years of searching, while in some other countries, it took several decades and search in numerous wells before the discovery. He called for patience from the president, who gave them the marching orders to search for crude in the nor
Governor Aminu Tambuwal of Sokoto is giving out the sum of N1 billion as direct loans to traders in the state. The governor states that the loan is in addition to the N2 billion earlier earmarked for the traders. The governor says the N1 billion is to be provided through the state’s investment company, the chamber of commerce and the Sokoto Traders Association The government of Aminu Tambuwal of Sokoto is reportedly set to disburse a total of N1 billion to traders in the state as direct loans. This move was announced by the governor, who said the loans were not part of the N2 billion earlier earmarked for disbursement to the traders. The governor explained that the earlier N2 billion loan approved by his government, would soon be disbursed to the beneficiaries when they sa
The House of Representatives has finally passed the national minimum wage after receiving it from President Muhammadu Buhari . The House approved N30,000 as the new minimum wage, saying it will be effective the day it is assented to by President Buhari -The bill was passed by the lawmakers during plenary on Tuesday, January 29 The national minimum wage bill has been passed by the House of Representatives after considering the report of its ad hoc committee during plenary on Tuesday, January 29. The Cable recalls that President Muhammadu Buhari sent the wage bill for consideration following its approval by the national council of state, which approved N27,000 while the federal government said it would increase it to N30,000 for its workers. News gathers that on plenary ...