By Cobham Nsa, Abuja The Federal Government and Major Petroleum Products Marketers yesterday struck a partnership deal aimed at settling appropriately on-going subsidy payments audit in the country. The two sides also promised to ensure efficient and uninterrupted distribution of petroleum products to their various outlets nationwide. In a media briefing at the end of yesterday’s meeting between the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala and the marketers in Abuja, Chief Executive Officer of Folawiyo Energy, Mr. Dipo Makanjuola said the audit was essential and the marketers were ready to cooperate with government to properly conclude the verification exercise. According to him, “There is a verification exercise that is on-going by a firm of auditors and we expect that it will be concluded by the end of next week.  Subsequently, payments will be made. Basically, the amounts th...

Vice President Mohammed Namadi Sambo has expressed appreciation of the Federal Government to the NNPC in the positive progress it is making in exploration of hydro carbon at the Chad Basin. In a statement signed on behalf of the Senior Special Assistant on Media and Publicity to the Vice President, by Mfon Udott, said at a meeting convened with experts within the NNPC and other public sectors at the State House, Abuja .  Arc Sambo was happy that surveys have indicated the presence of oil in the Chad Basin. He noted that the budget provision is based on activity assessment and that the efforts so far expended and the achievements recorded so far will lead to the realization of the targeted goal. He directed that a meeting with CNPC should be convened as a step to engaging willing and ready investors that will facilitate speedy and timely exploration in the second phase of the exercise. He further directed that the recommendation ...