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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EL-RUFAI: FG NOW PAYING MORE FOR FUEL SUBSIDY, BUT MANY NIGERIANS DON'T KNOW. (PHOTO).

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 El-Rufai: FG Now Paying More For Fuel Subsidy, But Many Nigerians Don’t Know


Former governor of Kaduna State, Malam Nasir El-Rufai, says fuel subsidy is back, but many Nigerians do not know this.


Fielding question from newsmen in Maiduguri , Borno State capital, on Monday, El-Rufai said the federal government is now paying more than before.


Traveling across Quang Binh to stunning cinematic locations


He observed that the packages of support that would reduce the impact of fuel subsidy were not effective, hence reversal of the policy.


In his inaugural speech, President Bola Tinubu had announced the removal of fuel subsidy, saying its payment was no longer justifiable.


But El-Rufai, who said he was in support of the policy, said the government had to make necessary adjustments.


“Fuel subsidy is another policy that has been implemented by the president, it’s the right policy. I always supported withdrawing fuel subsidy.”


“But, in the course of implementation as you can see the government has now realized that the subsidy has to be back because right now, we are paying a lot of money for subsidy even more than before.


“This is because the impact has been seen and the packages of support that would reduce the impact have not been so effective in reducing the impact, so the federal government is back now subsidizing Petrol.”


He said many people don’t know that fuel subsidy is back, “but, if they want to know whether we are subsidizing or not, they should compare the price of petrol and diesel because petrol should be more expensive than diesel but diesel is priced above a thousand naira while petrol is at N600 per liter.


“So, we are still subsidizing Petrol because the government has realised that they way it implemented the fuel subsidy initially required some adjustments. That’s what I keep saying about policy and policy pragmatism,” he said.


El-Rufai had earlier presented a paper titled: “Leadership and Public Policy: Navigating Challenges and Lessons”, at the Capacity-building workshop for Senior Government Officials of Borno State.

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