Oil & Energy
Witnesses’ Transfer Stalls N1.3bn Fuel Subsidy Fraud Trial
The absence of the pros
ecution witnesses last week stalled the trial of two oil marketers charged before a Federal High Court in Lagos, over an alleged N1.3 billion fuel subsidy fraud.
The accused, Chinyerem Nweze and Olaniran Ogundipe, were charged alongside their companies, Geacan Energy Ltd and Petroleum Brokers Ltd, on a six-count charge bordering on conspiracy and fraud.
The case, which was fixed for continuation of trial, could not go on as scheduled, due to the absence of prosecution witnesses.
The prosecutor, Mr Dania Abdullahi, informed the court that some of the police witnesses had been transferred out of the jurisdiction of the court.
Abdullahi, therefore, prayed the court for an adjournment to afford the prosecution adequate time to regularise the vacuum created by the transfer. The defence did not object to this prayer for adjournment.
Justice Musa Kurya, in a short ruling, adjourned the case to June 19 for continuation of trial.
The Tide gathered that the accused were arraigned on September 13, 2013.
They had, however, pleaded not guilty to the charge, and were granted bail in the sum of N1.5 billion each, with two sureties each in like sum.
The accused were alleged to have committed the offence between January and April, 2011.
They were alleged to have fraudulently obtained N1.32 billion from the Federal Government, under the pretext of having imported about 18,000 litres of petrol.
According to the prosecutor, the accused allegedly forged a consolidated Hallmark Marine Insurance Certificate, with which they perpetuated the fraud, adding that the accused never imported the products.
The offence contravenes Sections 1(1), 1(2), 3 (1), 8 (a), and 10 (1) of the Advance Fee Fraud and other Fraud Related Offences Act, Cap. A6, Laws of the Federation, 2004.
It also contravenes Section 467 of the Criminal Code, Laws of the Federation, 2004.
Oil & Energy
Reps C’mitee Moves To Resolve Dangote, NUPENG Dispute

Oil & Energy
Increased Oil and Gas: Stakeholders Urge Expansion Of PINL Scope

Oil & Energy
Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
-
News3 days ago
Stakeholders Tasks Fubara on recognition of Nwoga As Nzeobi of Egbema kingdom ….laud Tinubu for lifting Emergency in the state
-
Sports3 days ago
Palace End Liverpool’s Invincibility
-
Sports15 hours ago
2026 World Cup: FIFPro sounds alarm over ‘extreme’ conditions
-
Oil & Energy3 days ago
Reps C’mitee Moves To Resolve Dangote, NUPENG Dispute
-
News3 days ago
China sentences former Agric minister to death
-
Rivers15 hours ago
Eight Young Nigerian Entrepreneurs Win N2.4m In Youth Enterprise Challenge
-
Sports3 days ago
Makinde Expresses Readiness To Host Super Eagles
-
Niger Delta3 days ago
Warri Crisis: Oborevwori Sues For Peace