Legal & Regulatory

PIB: We need to pass it

Dec 16, 2013

The inconclusive journey of the Petroleum Industry Bill, PIB, began in 2000 when concerns about more transparent management of the oil and gas sector resulted in the bill. It has remained controversial since then. Among the aims of the bill are to – · the exploitation of oil and gas in Nigeria · Commercialise the…

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Malabu deal: House asks Adoke to amend letter on oil transaction

Dec 13, 2013

The House of Representatives has recommended that the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Muhammad Adoke, should amend his statement that it was satisfied with the OPL 245 deal. Adoke had written in a letter to one Simon Taylor of Global Witness in United Kingdom, regarding the deal that the…

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Arco, others seek stricter enforcement of Nigeria Content Act

Dec 12, 2013

Nearly three years after the signing into law of the Nigerian Local Content Act by President Goodluck Jonathan, experts in the nation’s oil and gas industry have been unanimous in lauding the implementation of the Act, saying that it has yielded positives for Nigerian firms and professionals but also called for a firmer enforcement of…

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How multinational oil firms resisted Local Content Act – Nwapa

Dec 12, 2013

The Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB) Mr Ernest Nwapa, has disclosed how multinational operating and service companies in the oil and gas industry resisted the signing into law of the Nigeria Local Content Act. The Nigeria Local Content Act, a law which seeks to increase indigenous participation in the oil…

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Subsidy fraud: EFCC re-arraigns Tukur, Arisekola’s sons

Dec 10, 2013

The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned Mahmud Tukur, son of the National Chairman of the Peoples Democratic Party (PDP), Alhaji Bamanga Tukur, and four others for their alleged complicity in the fuel subsidy fraud. Tukur was arraigned afresh alongside Ochonogor Alex, Abdullahi Alao, son of an Ibadan-based businessman, Alhaji Abdullazeez Arikesola-Alao and…

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N6bn subsidy fraud: SFU launches manhunt for suspects

Dec 5, 2013

The Special Fraud Unit (SFU) of the Nigeria Police in Lagos has launched a manhunt for three alleged fuel subsidy fraudsters who swindled the federal government to the tune of over N6 billion. The SFU in a statement signed by the Police Public Relations Officer (PPRO), DSP Ngozi Isintume-Agu, declared that the Managing Director of…

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NIMASA scam: How contracts were awarded, by EFCC witness

Dec 4, 2013

Most of the contracts awarded at the Nigeria Maritime Administration and Safety Agency (NIMASA) alleged to have been split, were approved by the agency’s governing board, a Federal High Court heard yesterday. An Economic and Financial Crimes Commission (EFCC) witness, Mohammed Shehu, said the agency’s former Director-General, Mr. Raymond Omatseye did not influence the contracts. Testifying…

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Four suspected pirates set for trial

Dec 3, 2013

The four suspected pirates, who hijacked an oil vessel, MT Norte, car-rying 17,000 metric tons of Petrol Motor Spirit (PMS) in the Gulf of Guinea on August 15, will soon be presented to appropriate quarters for prosecution. Speaking with reporters during his tour of some facilities of the Nigerian Navy Ship (NNS) Delta State, the Chief of Naval…

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Refinery privatisation: Senate urged to amend bill

Dec 3, 2013

To ensure that Nigerians get more consideration when the four refineries are privatised next year, experts have called for a modification of the bill on investment in the petroleum industry. Part 1 Section 3 of a Senate Bill 176 ensures that 50 per cent refining capacity should be domiciled in the country. The bill further…

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Membere-Otaji: Nigeria should pass PIB to remain competitive

Dec 3, 2013

The Chairman of ELSHCON Nigeria Limited, an Engineering, Procurement, Construction and Installation (EPCI) and marine services company, Dr. Emi Membere-Otaji, has called on the National Assembly to expedite action on the passage of the Petroleum Industry Bill (PIB) to ensure that the country remain competitive in the global oil and gas business. Membere-Otaji, who is…

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