Index to Nigerian Newspapers

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has expressed readiness to partner with the Nigerian Liquified Natural Gas (NLNG) company to increase gas use in cooking, transportation and power generation.  The NMDPRA CEO applauded the NLNG for prioritising domestic supply and reiterated the federal government's goal of deepening LPG and Compressed Natural Gas (CNG) especially for autogas. The NLNG Managing Director, Philip Mshelbila, also revealed plans to commence operation for the Nigerian domestic LNG market in 2022 in line with the government's desire to boost local consumption. He pledged the company's dedication and commitment to making Nigeria an energy-sufficient nation.

The Senate Committee on Public Accounts has begun an investigation of N14.7 billion proceeds of privatisation of the defunct Power Holding Company of Nigeria (PHCN) allegedly hidden in commercial banks by the Bureau of Public Enterprise (BPE). The committee is acting on an audit query in the 'Auditor-General for the Federation's Annual Report on Non-Compliance/Internal Control Weaknesses Issues in Ministries, Departments and Agencies of the Federal Government of Nigeria for the Year Ended 31st December 2019'. The query stated that the funds from the PHCN privatisation were still in the banks as of December 31, 2016, whereas the privatisation had been concluded since 2013. The Bureau of Public Enterprises (BPE) is seeking to recover the sum of N14,720,396,432.43, being proceeds of the PHCN, and remit same to CRF. However, two separate sums of N3,231,984.73 allegedly held in Fidelity Bank Plc and N18,199,520.87 held in Stanbic Bank were unaudited bank balances that were actually no longer in existence as of the date of the audited financial statements or asked questions. The probe is expected to reveal whether the BPE's claims are true or not.