NEITI Restates Economic Losses Of Crude Oil Swap Deal

The Nigerian Extractive Industry Transparency International (NEITI) on Wednesday again decried the rude oil swap deal that costs Nigeria as much as $866 million in losses annually. While it denied that the losses are as high as $8 billion, NEITI said: “There is no cost efficiency in the transactions with the offshore processing organisations. Nigeria, […]

Lagos Sets Up Counsumer Protection Agency

The Lagos State government has established a consumer protection agency to promote the rights of consumers and protect them against exploitative business practices. Gov. Babatunde Fashola, who signed a bill establishing the agency into law on Monday said he legal intervention was to ensure that consumers got real value for their purchases and services rendered. […]

Allison-Madueke Blames Diversion For Fuel Shortages

As Nigeria battles to end another round of embarrassing fuel shortages, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, on Sunday blamed the current scarcity nationwide to the diversion of the commodity by some marketers. Speaking after an unscheduled inspection of 15 filling stations in Surulere, Ikoyi, Ajah and Iponri areas of Lagos in South-West […]