The Nigerian National Petroleum Corporation (NNPC) on Wednesday described as false, rumours of an imminent increase in the pump price of Premium Motor Spirit (PMS) otherwise called petrol.

IT was the late Dele Giwa, who in those days of yore, wrote that Nigerians have become immune to shocks. They are capable of the impossible – with the dire challenges facing us as a nation – we were once rated as the happiest people on earth.

Remittance of oil proceeds to the Federation Account by the Nigerian National Petroleum Corporation, (NNPC), has been enmeshed in controversy. Central Bank Governor, Mallam Sanusi Lamido Sanusi, raised the alarm that a huge sum of the proceeds had developed wings without any trace in the Federation Account where it is supposed to be domiciled. But the management of NNPC came up to say no single kobo was missing

The exchange between the Governor of Central Bank of Nigeria (CBN), Mr Sanusi Lamido Sanusi, and the Nigerian National Petroleum Corporation (NNPC) over oil funds has generated interest in the polity. This is hardly surprising since the bulk of the money that sustains the nation comes from oil.

The allegation of non-remittance of $49.8 billion oil revenue made the Nigerian National Petroleum Corporation, NNPC, by the Governor of Central Bank of Nigeria, CBN, took a new dimension on Friday as the Corporation accused the CBN Governor, Sanusi Lamido Sanusi, of turning the issue into a political instrument.

The House of Representatives on Thursday mandated its Ad hoc Committee to investigate the volume and sales of crude oil by the NNPC between January and July 2013.

Our parlous economic predicament is generally regarded as a “resource curse”, a phenomenon, which the free encyclopedia defines as a paradox of plenty, in which countries with abundant revenue from mineral resources show less economic growth with a beleaguered manufacturing sector when compared with other countries with less resource endowments.

The management of NNPC on Sunday has refuted a statement credited to Gov. Adams Oshiomhole of Edo that the Corporation owes the Federation Accounts N2.3 trillion.

The Nigerian National Petroleum Corporation, NNPC, Thursday, said it will revoke the operating licenses of the three oil blocks put up for sale by Chevron Nigeria upon their acquisition by a new investor.

Chevron Nigeria Limited (CNL), operator of the NNPC/Chevron Joint Venture, has described as false report of spill in its Funiwa field located in CNL’s Eastern Operational areas, in Bayelsa State of Nigeria.

The Nigerian National Petroleum Corporation, NNPC, and its downstream subsidiary, the Pipelines and Products Marketing Company, PPMC, yesterday, threatened to sanction marketers and other stakeholders engaged in the sale of kerosene above the approved price to Nigerians.

Nigerian National Petroleum Corporation, NNPC, has disagreed with claims that Shell lost $700 million to oil theft in the second quarter of the year.

Operatives of the Inspector-General of Police Special Task Force on Anti-Pipeline Vandalism Unit, weekend, arrested four suspected pipeline vandals in Shagamu area of Ogun State and recovered a 33,000-litre truck loaded with petroleum products siphoned from the Nigerian National Petroleum Corporation, NNPC, pipeline.

Nigeria has suffered a shortfall of N191billion ($1.23 billion) in the first quarter of 2013, due to drop in crude oil production.