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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DANGOTE ACCUSES IOCs OF PLOT TO SINK HIS REFINERY. (PHOTO).

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 Dangote Accuses IOCs of Plot to Sink His Refinery


 In a tale that reads like a high-stakes thriller, the Vice President of Dangote Group, Devakumar Edwin, has sounded the alarm on a sinister plot orchestrated by International Oil Companies (IOCs) to sabotage the monumental refinery project.


 This unfolding drama, steeped in intrigue and economic warfare, threatens not just a corporate venture but the very future of Nigeria’s economic sovereignty and public health. Amid the clamor of Nigeria’s bustling oil sector, a dark conspiracy has come to light. Aliko Dangote’s state-of-the-art refinery stands on the brink of a precipice, besieged by International Oil Companies intent on seeing it fail. 


The implications of this are profound, with the potential to undermine Nigeria’s quest for industrial independence and leave its citizens grappling with the fallout. Crude Conspiracy: IOCs vs. Dangote Refinery Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), has exposed a calculated scheme by IOCs to cripple the Dangote refinery’s operations. 


Addressing Energy Editors, Edwin revealed that these international behemoths are inflating crude prices and engineering artificial shortages to force the refinery to import crude from the United States, driving up costs astronomically. “This is not just business rivalry; it’s economic sabotage,” Edwin declared, his voice tinged with frustration. 


The IOCs’ tactics have pushed the refinery to its financial limits, threatening its very existence. Compounding the refinery’s woes is the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which has recklessly issued licenses for importing banned, dirty diesel and jet fuel.


 Despite Dangote refinery’s capacity to produce high-quality, ECOWAS-compliant diesel, the market is flooded with substandard, high-sulfur fuels. Edwin lamented, “It’s disheartening to see our own regulatory body undermining our efforts by allowing toxic fuels to saturate the market.”


 Credit: capital.ng

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