The Nation Newspaper

Tag: Reginald Stanley

  • Ahmed Farouk is new PPPRA chief

    President Goodluck Jonathan on Thursday approved the appointment of Mr. Farouk A. Ahmed as Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA).

    A statement issued by the President’s Special Adviser on Media and Publicity, Dr. Reuben Abati, said Ahmed takes over from Mr. Reginald C. Stanley who is retiring from the agency after 35 years in service.

    The incoming PPPRA chief, who hails from Sokoto State, is the current Managing Director of Nidas Marine Limited, a subsidiary of the Nigerian National Petroleum Corporation.

    The statement said, “Ahmed comes to his new job at the PPPRA with over 28 years’ experience in the oil and gas industry and a sound commercial and trading background having held senior positions in the downstream sector of the oil and gas industry including Manager, Crude Oil Programming, Nominations, and Shipping and Terminals.

    “He has also served as Executive Director (Commercial), Pipelines and Products Marketing Company Limited (PPMC).

    “President Jonathan thanks the outgoing Executive Secretary of the PPPRA, Mr. Stanley for his meritorious service to the nation and wishes him well in his future endeavours.”

    The appointment takes immediate effect.

     

  • NewsDirect to honour Aregbesola, oil chiefs

    NewsDirect to honour Aregbesola, oil chiefs

    Osun State Governor Rauf Aregbesola and the Executive Secretary of Petroleum Products Pricing Regulatory Agency (PPPRA), Mr Reginald Stanley are among those to be honoured by Nigerian NewsDirect during the paper’s third anniversary celebrations on December 12.

    A statement by the publisher, Sam Ibiyemi, said Aregbesola would receive the Best Governor of the Year awards on infrastructure development and education; Stanley, the Best Regulator of the Year awards. Others are the Managing Director of Omatek Computers, Mrs Florence Seriki, Best Female Entrepreneur of the Year, and Managing Director of Flying Doctors Dr Ola Orekunrin Outstanding Female CEO.

    In the corporate award category, the paper will honour OilServ Limited, Seplat Petroleum, First Bank, Babcock University and NIPCO Plc.

    The ceremony will feature presentation of papers on “Enabling Environment, infrastructure development, funding and capacity building”.

    The guest lecturers are the Group Executive Director of the Nigerian National Petroleum Corporation, Mr Abiye Membere and Osun State Commissioner for Finance Dr Wale Bolorunduro.

  • PENGASSAN hails PPPRA’s ongoing reforms

    The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has commended the management of the Petroleum Products Pricing Regulatory Agency (PPPRA) for the ongoing reforms in the downstream sector.

    The Chairman of the PPPRA Branch of the association, Mr. Lazi Akhore, and the Secretary, Mr Ghide Mohammed, said on Monday that PPPRA’s management deserved a pat on the back for sanitising the sector.

    The officers who spoke in a statement issued in Abuja, expressed their support for the Executive Secretary of the PPPRA, Mr. Reginald Stanley, for taking bold steps in saving over N409 billion in the subsidy scheme last year.

    The union said the Federal Government should be commended for taking measures resulting in an unprecedented clean-up of the downstream, following the appointment of Stanley in November, 2011.

    “It is worth noting that the PPPRA under Mr. Reginald Stanley has recorded significant achievements in the operations of the subsidy scheme, resulting to the saving of over N409 billion in 2012 alone.

    “Stanley has also facilitated the drastic reduction of daily fuel consumption in line with actual national demands,” the News Agency of Nigeria (NAN) quoted the body as saying in the statement.

     

     

  • PPPRA to NEITI: Stop confusing the public

    PPPRA to NEITI: Stop confusing the public

    The Petroleum Products Pricing and Regulatory Agency has appealed to the Nigeria Extractive Industry Transparency Initiative to desist from confusing the public further on its audit report which said that the agency should remit N4.423 billion to the Federation Account.

    In a swift reaction to NEITI’s statement affirming that it stood by its controversial audit report, the Executive Secretary of the PPPRA, Mr. Reginald Stanley, told reporters in Abuja on Wednesday that “NEITI appeared to have embarked on a wild-goose chase, instead of addressing the issues at stake.’’

    He said there was never a time the audit report was `signed-off’ by the management of the PPPRA, challenging NEITI to make a copy of the sign-off public, to prove its claim against PPPRA.

    On July 29, NEITI released its 2009-2011 audit report on the oil and gas sector, recommending that the PPPRA should remit N4.423 billion, arising from “over-recovery’’ to the Federation Account.

    “We challenge NEITI to tell Nigerians where the N4.423 billion it claims was warehoused. If NEITI is indeed, desirous of efficiently doing its job, we challenge it to go and consult the records at the Central Bank of Nigeria, where the Petroleum Support Fund (PSF) account is domiciled.

    “It should also go a step further by visiting the records at the Federal Ministry of Finance to confirm if certain amount of money as claimed was remitted accordingly or not by the PPPRA.

    “To all intents and purposes, it is apparent that NEITI is on a wild-goose chase and self-seeking in its putrid claims,’’ the News Agency of Nigeria quoted the PPPRA boss as saying to journalists.

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  • NEITI’s audit report, inaccurate, misleading – PPPRA

    NEITI’s audit report, inaccurate, misleading – PPPRA

    The Petroleum Products Pricing Regulatory Agency (PPPRA) has dismissed the audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI) which said the agency should remit N4.423 billion to the Federal Government.

    The Executive Secretary of the PPPRA, Mr. Reginald Stanley, told the News Agency of Nigeria (NAN) in Abuja on Sunday that NEITI’s report “is steeped in inaccuracies and gross misrepresentation of facts.

    “The report has glaring potential to mislead the public and further cast aspersions on the activities of the PPPRA as a key administrator of the Petroleum Support Fund (PSF),” Stanley stated

    On July 29, NEITI released its 2009-2011 audit report on the oil and gas sector, recommending that the PPPRA should remit N4.423 billion, arising from “over-recovery’’ collected to the Federation Account for the period in review.

    The report also ordered other establishments to refund various sums of money to the Federal Government.

    “The PPPRA wishes to state unequivocally that the statement credited to the NEITI chairman is misleading and a gross misrepresentation of facts.

    “We note with dismay, NEITI’s admission to the fact that it had no absolute control of its sources of data as they were derived information and data provided through its own independent auditors as well as companies doing business in the sector.

    “Such over-reliance on secondary data must have accounted for the glaringly flawed computations presented in the report,” the PPPRA chief told NAN.

    Stanley explained that the N4.423 billion “over-recovery” that the PPPRA was asked to remit, was not correct, noting that only the Nigerian National Petroleum Corporation still had an outstanding payment of about N3.98 billion to be paid into Central Bank of Nigeria’s account.