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 REFINERY TO SUPPLY 25 MILLION LITRES DAILY- NMDPRA. (PHOTO).

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 Dangote refinery to supply 25 million litres daily — NMDPRA


The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the Dangote Refinery is set to supply 25 million litres of petrol daily to the Nigerian market


The $20 billion refinery, which has a capacity of 650,000 barrels per day, is expected to increase this supply to 30 million litres per day by October.

 

The regulatory authority disclosed that during a meeting held in Abuja on Tuesday, an agreement was reached between the NMDPRA and the Nigerian National Petroleum Company Limited (NNPCL) to commence the sale and supply of crude oil to the Dangote Refinery in local currency.


“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September,” the NMDPRA stated.


“This amount will be increased to 30 million litres daily from October 2024.”


The refinery, one of the largest in Africa, is expected to play a critical role in addressing Nigeria’s fuel supply challenges and reducing dependence on imported petrol.

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