INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c

PRESIDENT TINUBU MEETS NIPCO EXECUTIVES, COMMENDS INVESTMENTS IN THE CNG SECTOR. (PHOTOS). #PRESS RELEASE


 STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU MEETS NIPCO EXECUTIVES, COMMENDS INVESTMENTS IN THE CNG SECTOR

 

President Bola Tinubu thanked NIPCO for investing in Nigeria’s Compressed Natural Gas (CNG) sector during a meeting with the company’s executives at the State House in Abuja.

 

The President commended NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI).

 

During the meeting, President Tinubu acknowledged NIPCO’s role as a critical player in enhancing the adoption of CNG as an alternative fuel, noting that such investments align with his administration’s energy security and economic diversification strategy.

 

He emphasised the importance of public-private partnerships in driving the transition to cleaner

and more affordable energy solutions for Nigerians.

 

The President lauded NIPCO’s efforts in promoting and supporting the “Switch to CNG” campaign, which has been instrumental in boosting public awareness and providing affordable CNG conversion kits even before the official kickoff of the Presidential CNG Initiative.

 

He highlighted the significance of this initiative in reducing the nation’s reliance on petrol and cutting down fuel costs for consumers.

 

CNG, being a cleaner and more affordable fuel, reduces the carbon footprint and saves consumers significant fuel costs.

 

“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200. We have also introduced incentives for commercial motorists to convert from petrol to gas” free of cost,” President Tinubu said.

 

President Tinubu reaffirmed his administration’s commitment to providing a conducive environment for private sector investments and expanding Nigeria’s CNG infrastructure to enhance energy efficiency and economic growth.

 

He further encouraged NIPCO to continue its innovative approach to CNG expansion while supporting the government’s broader goals in the energy sector.

 

Mr Ramesh Kasangra, NIPCO director, who led the delegation, thanked President Tinubu for his steadfast support of the CNG sector.

 

He expressed NIPCO’s commitment to furthering the partnership with the government to ensure Nigeria’s energy transition remains on track.

 

He assured the president that the company was ready to invest in infrastructure to make CNG more accessible nationwide.

 

According to him, NIPCO has been a key player in various sectors of Nigeria for over four decades and will continue to believe in Nigeria for the long term.

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

October 22, 2024.

One more photo below. 



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