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

ATWAP SAID PURE WATER MIGHT BE SOLD FOR N100 PER ONE.(PHOTO).

The Association of Table Waters Producers (ATWAP) has said that the price of pure water may be sold for N100 per one due to the high cost of production materials.


The group which spoke at a press conference in Lagos, said they’ve been facing so many challenges such as high cost of diesel, lack of power as well as high cost of production. They also said that the current price of water sales reflects the situation of the country.


One of the group’s representatives said; 


“Pure water is sold for N50 now, and it is even going up to N100 per one. At our own end, there’s nothing we can do. The cost of production is high.


“As at last year December, we were buying materials (nylon) for N1,100 per KG. The 6 kg of nylon is now N3,600/N3,700. The cost of treatment is also high. The increment for these materials comes at 3 times in one week. It is also difficult for us to increase the price of water.


“If ordinary Nigerians can’t afford pure water, I don’t know where we are going. Every water producer is funding the pure water factory on personal pockets or borrowed money.


“Many banks don’t give pure water producers loans. We want Nigerians to bear with us. We don’t want Nigerians to buy water at more than N20 per sachet. The cost of production including the price of diesel has affected so many things.”

 

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