The Nigerian National Petroleum Corporation Plc (NNPC) deducted over N3.3 trillion from January to November, last year to pay for fuel subsidy. The deductions were made from revenue the NNPC was supposed to remit to the Federation Account. This is contained in the Federation Account Allocation Committee (FAAC) Post-Mortem Sub-Committee (PMSC) report presented to FAAC on Tuesday in Abuja. The …

Former chairman of the Senate Committee on Local and Foreign Debts, Ifeanyi Ararume has filed a N100 billion suit against President Muhammadu Buhari at a Federal High Court in Abuja over his alleged unlawful removal as a non-Executive Chairman of the Nigeria National Petroleum Company Limited (NNPCL). Ararume is claiming damages from the Federal Government as a result of the …

Premium Motor Spirit (well known as fuel or petrol) sold for between N198 and N200 in Lagos, Ogun, and Oyo States on Tuesday against the official pump price of N165 as more filling stations complained of short supply. Vehicular queues lengthened in the few stations that had supplies while bus stops were crowded by stranded commuters, who were agitated by …