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Energy

This category contains 10 posts

HOW TONY ELUMELEU,EX UBA CEO MADE $123 MILLION IN 3 WEEKS

According to Forbes Africa, former United Bank for Africa (UBA) Managing director, and chairman of Heirs Holdings, Tony Elumelu made $123million in just three weeks. Wow! Read below… From Forbes. It’s just paper gains, but it counts. Nigerian banker Tony O. Elumelu has become at least $123 million richer between November 1 and November 21 … Continue reading

BREAKING: NIGERIAN ENTREPRENEUR, JIMOH IBRAHIM ARRESTED OVER N6.5 BILLION TAX FRAUD

Saharareporters just learned that the Special Enforcement  Unit of Federal Inland Revenue Service has arrested shady businessman, Jimoh Ibrahim, over a tax fraud that runs into N6.8 billion. Sources within the unit told Saharareporters that Mr. Ibrahim was picked up today and is currently under detention at the offices of the agency. According to one … Continue reading

TOP NIGERIAN BISHOP IN $10 MILLION OIL BLOCK FRAUD

Bishop Joseph Olarenwaju Obembe, is a former head of the Pentecostal Fellowship of Nigeria (PFN) and the Presiding Bishop of Elshaddai Bible Church in Dolphin Estate, Lagos State but his profile as a man of God may have been compromised with allegations by his business partners of being duped in a crude oil deal. The … Continue reading

Safe sex in Nigeria: Economist’s Report on Malabu Oil Deal on OPL 245

Court documents shed light on the manoeuvrings of Shell and ENI to win a huge Nigerian oil block and on the dilemmas of their industry. DEALS for oilfields can be as opaque as the stuff that is pumped from them. But when partners fall out and go to court, light is sometimes shed on the … Continue reading

Nigeria To Become Regional Gas Hub By 2017 – NNPC

Nigeria-National-Petroleum-Corporation-NNPC The Nigerian National Petroleum Corporation (NNPC) has said that the country would become the regional hub of petrochemical and fertiliser by 2017. The disclosure was made by the NNPC Group Executive Director of Gas and Power,The Nigerian National Petroleum Corporation (NNPC) has said that the country would become the regional hub of petrochemical and … Continue reading

President Rousseff,Jonathan seek to Boost Brazil-Nigeria Investments as Trade hits $9bn

Nigeria’s President,Jonathan & Brazillian President-Dilma Rouseff Madam Dilma Rousseff, President of the Federative Republic of Brazil, paid a State visit to Nigeria from 22 – 23 February, 2013 to foster bilateral relations. Nigeria and Brazil yesterday in Abuja signed a Memorandum of Understanding (MoU) covering agriculture and food security, petroleum, power, bio-fuel, trade and investment, … Continue reading

NIGERIA: Crisis Rocks ex-Militant Group, NDLF

Militants Hostage CRISIS hit the defunct Niger-Delta Liberation Force, NDLF, a militant group formed by the ex-militant leader, the late “General” John Togo, weekend, with the group torn into two factions. Spokesperson of the group, “Captain” Mark Anthony, in an exclusive electronic mail statement to Saturday Vanguard, confirmed that Togo’s successor, “General” Peter,  has been … Continue reading

FRENCH TANKER, CREW HIJACKED OFF IVORY COAST FREED

MT Gascogne Hijacked Off Abidjan,Ivory Coast by Pirates ABIDJAN, Ivory Coast (AP) — A French tanker seized by pirates off Ivory Coast and its crew of 17 sailors have been released, its owner said Wednesday, though two workers suffered injuries in the hijacking. SEA Tankers, a shipping firm based in Merignac, France, issued a statement … Continue reading

FG may dump Ribadu report on oil industry

Nuhu Ribadu,Chairman of Nigeria’s Presidential Taskforce on Oil Industry There are strong indications that the Federal Government has commenced moves to kill the report of the Petroleum Revenue Special Task force headed by ex-boss of Economic and Financial Crimes Commission, Nuhu Ribadu. Three months after the Ribadu panel submitted its report on November 2, 2012, the … Continue reading

Ebonyi to generate 2000 Mega Watts of Electricity by September 2012

Electricity demands in Nigeria The Ebonyi State government has signed a Memorandum of Understanding with a firm to produce 2000 megawatts of electricity by September 2013. The State Governor, Martin Elechi, who disclosed this during a town hall meeting to round off the National Good Governance tour of Ebony State, said the principal partners, last … Continue reading

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