Oludayo Adeagbo, a 45-year-old Nigerian-British man, has received a seven-year prison sentence in the U.S. for his involvement in a multimillion-dollar business email compromise (BEC) scheme.

•Says ‘With local production of fuel, price should be going down, not up as we’re now saving costs of shipping, insureance, freight etc’•Without transparency reforms will not work•How to tackle inflation, food scarcity etc In this interview, with Emma Ujah, our Abuja Bureau Chief, the President of the Nigeria Economic Society, Prof. Adeola Adenikinju says […]

. And when we reconvened, we made it clear to Mr. President that we didn’t have any mandate to come there to discuss the price of petroleum products or increase, we were only there to discuss minimum wage and minimum wage alone we were going to discuss. And on the basis of that we accepted 70,000 (Naira)”.

An updated transactional analysis of the pricing template obtained by Vanguard, yesterday, put the total direct cost, including product cost at N887.45 per litre, Freight (Lome-Lagos) N10.37, port charges N7.37, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA Levy N4.47, storage cost N2.58 to arrive at N913.12 per litre for total direct cost.

By Obas Esiedesa, Abuja Joint Venture partners including SPDC, NNPC Limited, TotalEnergies and Eni have signed a Gas Sales and Purchase Agreement (GSPA) for the $3.5 billion Brass Fertilizer and Petrochemical project in Bayelsa State. A statement by the Ministry of Petroleum Resources on Friday said the signing of the agreement, supervised by the Minister […]