Despite the claims by the Nigeria Extractive Industries Transparency Initiative (NEITI) that the defunct Nigeria National Petroleum Corporation (NNPC) did not remit $1.9bn to the federation account in 2021 before transitioning to a commercial venture, the federal government has the biggest indebtedness to the national oil company with about N4.1trn ($9.74bn) for subsidy payment.
NEITI had last Monday disclosed in its 2021 oil and gas report unveiled in Abuja that NNPC failed to remit $1.9bn to the Federation Account Allocation Committee (FAAC) before the transition.… Read the rest
Explosion at an illegal fuel depot in Cotonou, the Republic of Benin, has killed 34 people.
A government official confirmed the incident to newsmen today, Saturday.
The government official said no fewer than 34 people were killed when a contraband fuel dump burst into flames in southern Benin near the border with Nigeria.
“A serious fire occurred in the town of Seme Podji,” Interior Minister, Alassane Seidou told reporters.… Read the rest