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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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Fed Govt-NSIA: You are no longer an investor in national carrier



Favour Ajibade


The Federal Government has taken the Nigerian Sovereign Investment Authority (NSIA) out of the list of investors for the nation’s national carrier,the Nigerian Air.

The Ministry of Aviation, in a statement signed by its  James Odaudu, Special Assistant (Public Affairs), James Odaudu, admitted that it included the Nigerian Sovereign Investment Authority (NSIA) as one of the investors in the nation’s national carrier, in great error.

He noted that the NSIA was not mentioned in Minister of Aviation Senator Hadi Sirika’s presentation, but only in the general brief given to the media, stressing that it was an error made during its preparation.

According to him,the equity ownership structure of Nigeria Air stands as : Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS and other institutional investors) 46% and the Federal Government 5%.

The statement titled, ‘Error of Inclusion of NSIA as an Investor in Nigeria Air’ reads:
Error of Inclusion of NSIA as an Investor in Nigeria Air.

“Our attention has been drawn to the inadvertent inclusion of the Nigerian Sovereign Investment Authority (NSIA) as part of the private investors in the Nigeria Air project. We wish to clarify that the Authority is not involved, in any way, as part of the private equity ownership of the airline, being a government establishment.

“It should be noted that the NSIA was not mentioned in Honourable Minister’s presentation, but only in the general brief given to the media, an error made during its preparation.

“For the avoidance of doubt, the equity ownership structure of Nigeria Air stands as : Ethiopian Airlines 49%, Nigerian private investors (SAHCO, MRS and other institutional investors) 46% and the Federal Government 5%.The public, especially the business community and the media should please take note”.


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