NNPC Boosts Gas Supply to Gencos, Redeploys Top Staff Oil marketers to sack workers over unpaid $2bn subsidy claim Ejiofor Alike in Lagos and Chineme Okafor in Abuja with agency report The Nigerian National Petroleum Corporation
(NNPC) increased its daily average natural gas supply to the nationâs gas power plants by 123 per cent to 730 million standard cubic feet per day (mmscf/d) in June.
yesterday showed. This is just as the state-run oil firm also announced yesterday the redeployment and promotion of 55 senior management staff across its
In contrast, the corporation supplied the power plants 327mmscf/d in the corresponding period in 2016, the Monthly Financial and Operations Report released
value chain. But even as the corporation released its financial and operations report for the month of June and announced the senior staff redeployment and
promotions, all was not well in the downstream oil sector, as oil marketing firms in the country resolved to embark on the mass Continued on page 49
Amnesty Intâl Accuses Nigerian Authorities of Detaining Hundreds Illegally⌠Page 50 Wednesday 30 August, 2017 Vol 22. No 8168. Price: N250
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AGF Explains Why Arewa Youths Were Not Arrested Admits shallow investigations played a role in dismissal of corruption cases Sets up unit to improve probes, prosecution of cases Alex Enumah in Abuja Following accusations of bias, the Attorney General of the Federation and Minister of
Justice, Mr. Abubakar Malami (SAN) has proffered a reason as to why the proponents of the quit notice to Nigerians of South-east extraction residing
in the Northern part of the country were not arrested. Speaking in Abuja yesterday, Malami said the government resisted pressure to go after
leaders of the Arewa Youth Consultative Forum after it gave due consideration to the security implications of arresting them.
Malami has come under attack in recent days over his request to the court to withdraw the bail conditions granted to the leader of the
Indigenous People of Biafra (IPOB), Nnamdi Kanu, while ignoring the antics and Continued on page 10
Wigwe: Banks Cannot Provide for Power Sector Loans Because Itâs Systemically Important Says Abu Dhabi-based Etisalat Group still has a case to answer Access Bank redeems $350m Eurobond Predicts exchange rate convergence Obinna Chima The Group Managing Director and Chief Executive Officer of Access Bank Plc, Mr. Herbert Wigwe has explained why Nigerian banks have still not made provisions for most of the power sector loans, despite the fact that most of the loans taken by investors who bought up the federal governmentâs assets in the electricity sector almost four years had defaulted on their loan repayments. He said if the banks were to make impairment charges on the loans it would be counterproductive, as the power sector was systemically important and critical to the growth of the Nigerian economy.
Wigwe, who said this during an interview on Arise News Channel, the sister broadcast station of THISDAY Newspapers yesterday, described the issues surrounding the power sector privatisation as very important and urged the federal government to look into the issues and create some form of reprieve for investors that had staked their funds in the sector. âThere is a problem in that value chain and there is also a problem with the pricing of their product which everybody needs to look at. There is a problem in terms of access to gas also. So several little things need to be resolved. Continued on page 10
GROUP RECORDS ANOTHER MILESTONE⌠Katsina Senator, Kanti Bello Dies BUA The Emir of Kano, Alhaji Muhammad Lamido Sanusi II; Edo State Governor, Godwin Obaseki; Vice-President Yemi Osinbajo; the Chairman/CEO of BUA Group, Abdulsamad Rabiu, at the commissioning of BUA (Obu) Cement Plant in Okpella, Edo After Protracted Illness⌠Page 51 and State⌠yesterday (See story on page 50)