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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NO JUSTIFICATION FOR FUEL SCARCITY,PRICE HIKE- PENGASSAN. (PHOTO).

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No justification for fuel scarcity, price hike — PENGASSAN

31 January 2023 

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said that there is no justification to the current fuel scarcity and the hike in the price of Premium Motor Spirit, PMS.

It called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to revoke licenses of any marketers found to be selling petrol above the approved price.

A statement signed by PENGASSAN’s President, Comrade Lumumba Okugbawa, and General Secretary, Comrade Festus Osifo, on Monday in Abuja, insisted there was no justification for the current petrol scarcity hike in price as being witnessed nationwide.

While noting that there was enough petrol to last Nigerians for the next 30 days and more, the union accused some marketers of creating artificial scarcity of petrol, with the aim of having the product sell at a higher price.

The statement partly reads: “PENGASSAN empathizes with Nigerians on the hardship currently faced with the scarcity and drastic hike in the price of PMS.

“While we understand that the parameters imputed into the old PPPRA and now NMDPRA template have since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of AGO amongst others, there is no sufficient justification for PMS (Petrol) to be selling for a such highly inflated price, thereby subjecting the masses to further difficulties.”

 

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