LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years  for N43.5m Fraud    Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.   The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00   Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
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ACTING PRESIDENT OSINBAJO TO INAUGURATE $1.5BILLION INDORAMA FERTILIZER PLANT IN PORT HARCOURT,TOMORROW.

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           Acting President Yemi Osinbajo, SAN, will inaugurate a new world-class fertilizer plant built by Indorama Eleme Fertilizer and Chemicals Limited, tomorrow in Port Harcourt, Rivers State.
The plant with production capacity for 1.5 million Metric Tons of Urea fertilizer is considered the world’s largest single-train Urea plant.
Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited was privatized in 2006 after the sale of Federal Government’s 75 percent shares to a core investor through a competitive bidding process.
The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizer per day or 1.5 MT per annum and was built with an investment of USD 1.5 billion.
The fertilizer plant is supported by a Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and beyond, in line with the economic diversification of the Buhari administration.
Besides making fertilizer available to farmers nationwide at affordable cost, the plant will also boost crop yield for farmers and help in minimizing the food grain deficit in Nigeria.
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President 
July 26,2017.
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