"Enough is Enough" - Abiola Looses Grip on Oil, Government takes charge - Khorgist.com

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Tuesday, 11 June 2019

"Enough is Enough" - Abiola Looses Grip on Oil, Government takes charge



For five of Nigeria's oil magnates, it is a last farewell to the oil coalitions which they have sat on for such huge numbers of years, transforming into profitless, resourced-depleting, obligation ridden, useless endeavors on their watch. After numerous long periods of losing billions of Naira to joint endeavors which were yielding pretty much nothing or nothing into the national treasury, the government at long last announced that's the last straw.
Among the individuals who presently have one less oil coalition to gloat about are very rich person businessperson Dr Festus Fadeyi whose organization Pan Ocean Oil Corporation lost its rights to OML 98, northern oligarch Aminu Dantata whose responsibility for 108 through Express Petroleum and Gas Company was denied, and Borno tycoon Alhaji Zanna Mai Deribe who lost his organization Cavendish Petroleum Nigeria's OML 110. Additionally influenced were OMLs 120 and 121 which were disavowed from Allied Energy Resources Plc claimed by US-based moneybag Kase Lawal.

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