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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DON'T EVER CONTEMPLATE ANOTHER FUEL PRICE INCREASE,PDP TELLS APC ADMINISTRATION.{PHOTOS}.#PRESS RELEASE.

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February 14, 2021
Press Statement
Don’t Ever Contemplate Another Fuel Price Increase, PDP Tells APC Administration
The Peoples Democratic Party (PDP) charges the All Progressives Congress (APC) and its government to perish any thoughts of further increase of fuel price in the country.
The PDP alerts that it has been made aware of discussions and consultation in the APC and its administration for further increase of fuel price from the unbearable N170 to a higher figure.
Our party cautions the APC to immediately perish such contemplations as it would amount to pushing the already impoverished Nigerians to the wall; a situation that might result in public restiveness and acerbation of agitations in the land.
The party laments that Nigerians are groaning heavily under the weight of economic hardship and high costs occasioned by the unjustified increase in the price of fuel to an unbearable N170 per liter last November, adding that any new hike might become the last straw that can break the camel’s back.
This is because there is no way our compatriots can survive a further fuel price increase with its attendant increase in cost of goods and services, which will worsen the current agonizing economic situation, where over 90 million citizen live in abject poverty, with an alarming 23% unemployment rate and many more living below N500 a day.
The PDP restates that the APC and its administration have no justification ever to increase fuel prices to even above N100 per liter, when there are practical options available to maintain affordable price template, given our national production capacity and potentialities.
Our party condemns the bizarre attempt by the APC administration to compare our domestic fuel price to those of other countries where their governments are sincere and working hard in running productive economies that boost purchasing power of citizens.
With an official N30,000 federal monthly minimum wage, which represents a N1,000 daily wage, compared to a country like Saudi Arabia with monthly 3,000 Riyals; a daily 100 Riyals (N10,161) there is no foundation to base fuel price in Nigeria to that of Saudi Arabian where citizens earn ten times higher that their counterparts in Nigeria.
It is therefore clear that the sordid increases in fuel price in Nigeria are products of nebulous indices coming from an incompetent and overtly corrupt APC administration under whose watch APC leaders had stolen over N15 trillion from our oil coffers and other national sources.
Our party therefore rejects any contemplation towards fuel price increase but urges President Muhammadu Buhari to rather end the corruption in his administration, recover the stolen N15 trillion and seek help in evolving viable options for affordable price template, given our national production capacity and potentialities.
Signed:
Kola Ologbondiyan
National Publicity Secretary
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