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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 Will Soon Disburse Funds To SME Operators


By Favour Ifeoluwa & Akinola Ajibade


The Government will commence disbursement of funds under its Presidential Palliative Programmes, the Minister for Industry, Trade and Investments, Dr Doris Uzoka-Anite has said. 

The programmes aim at alleviating the impact of the fuel subsidy removal on Nigerians. 

The Minister, in a statement, yesterday ( Sunday) and made available to the media, said the programmes consist of the Presidential Conditional Grant Programme and the Presidential Palliative Loan Programme. 

The statement said: "“In the Presidential Conditional Grant Programme, the Federal Government will disburse a grant sum of N50,000 to nano businesses across the 774 local government areas. “The Federal Government, through the Federal Ministry of Industry, Trade and Investment and Small and Medium Enterprises Development Agency of Nigeria, will collaborate with state and local governments, federal legislators, ministers, banks and other stakeholders for the disbursement of the funds. 

It added that: “Eligible nano business beneficiaries should be willing to provide proof of residential/business address in their local government area, and provide relevant personal and bank account information, including Bank Verification Number for verification of identity.” For the Presidential Palliative Loan Programme.

It said the government would disburse N75billion to micro, small and medium-sized enterprises across various sectors and N75billion  specifically to manufacturers. The loan would be administered to the beneficiaries at a single-digit interest rate of nine per annum.

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