The Nigerian National Petroleum Company (NNPC) Limited disclosed at the weekend that it has commenced termination of crude oil swap contracts and will pay cash for petrol imports.
According to NNPC’s Group Chief Executive Officer (GCEO), Mele Kyari, private companies would begin importing petrol in June.
Kyari who said the national oil company will now pay for its purchases in cash by terminating the crude swap contracts, added that less petrol will be imported by NNPC while private companies will import the bulk.
In the last four months, we practically terminated all Direct Sale Direct Purchase (DSDP) contracts. And we now have an arm’s-length process where we can pay cash for the imports,” Kyari told Reuters.
Information Nigeria reports that DSDP is an agreement that allows sales of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products.
Meanwhile, the House of Representatives on Thursday, asked the Federal Government to suspend all DSDP contracts sequel to the removal of the petrol subsidy by President Bola Ahmed Tinubu’s administration.
The GCEO however noted it is the first time NNPC has said it is terminating crude swap contracts.
Speaking on the country’s production capacity, the of 1.742 million bpd.
However, Nigeria’s oil production fell below the one million mark in April 2023, as output tumbled to 998,602 bpd.
The figure was a 21.26 percent decline compared to March, when output was 1,268,202 bpd.
It was also the lowest volume of production in the last seven months.
President Bola Tinubu has stated that he inherited liabilities and assets from his predecessor, Muhammadu Buhari.
Speaking in Abuja during a meeting with governors elected under the platform of the All Progressives Congress, APC, the President said no budget or penny has been removed by his government.
According to Tinubu: “The situation that we have seen is one- I inherited, and it is fundamental, I inherited assets and liabilities of my predecessor.
No budget, no penny that has been removed. This is the first time you are entering the Council Chamber, this is the first time I’m entering it too. But we have to push on. We have to make decisions that affect all of us.
You as progressive thinkers, under the umbrella of our party, have a very serious role to play in educating the people, and making sure that we manage ourselves.”
Few days ago ,GGM Team and BVI Channel 1 were at Senator Dr Ifeanyi Ubah residence to confirm the trending news on social media that Nnewi , the largest motor (cycle) spare parts market in Nigeria has ingeniously created a local security system to secure the town and it’s environment from daredevils .
Before the visit , stories of kidnapping for ransom and ruthless killing of innocent victims have constantly been part of beer parlour discussions . This insecurity situation has affected the volume of business transactions as well as human movement throughout Anambra South Senatorial zone. A reliable source from Nnewi confirmed to me that 5 of his friends inside Nnewi market have all relocated to Lagos because of fear of kidnappers .
Surprisingly ,many families within the zone have organised traditional marriages in Abuja and other major cities in Nigeria. Nnewi that used to be beehives of business activities has now become a ghost land because of activities of kidnappers . These daredevils have been running riot attacking and burning police stations and other government facilities. Security agencies seemed to be handicapped. Under Obiano Administration , criminals took over 7 local government areas in Anambra South with camps established in more than 10 locations . These local government areas were under strict occupation of these daredevils hiding under freedom fighters . Luckily, Prof Soludo has declared war against these criminal elements but his efforts have not totally handled the situation as security is known to be local .
It is an established fact of law that the primary purpose of Government is security and welfare of the people (section 14(2b). Without a secure environment, Government cannot create economic prosperity and sustainable happiness.
The intervention of Sen Dr Ifeanyi Ubah is timely,hence our Team visit to Nnewi was quite revealing . From what we observed in Nnewi ,it is obvious that the people are determined to take back their environment. Sen.Dr Ifeanyi Ubah has showcased how to organize the people to secure their communities.
Indeed ,security operations must be localized to be effective and Senator Ifeanyi Ubah has proven that there is urgent need to decentralize security system in Nigeria for a secure society .
Ndubuisi Anaenugwu is an Ambassador of Good Governance Ministry.
Mr Peter Obi, the presidential candidate of the Labour Party on Friday, produced additional certified copies of results of the election from six states of the federation, to support his claim that he won February 25 presidential election.
Obi and his party tendered the results, which were obtained from 134 Local Government Areas, LGAs, in evidence before the Presidential Election Petition Court, PEPC, sitting in Abuja.
Though, the electoral umpire had since the beginning of the hearing disputed the admissibility of various documents brought to the Presidential Election Petition Court by the petitioners as exhibits to prove their case.
However, during today’s proceedings, counsel for INEC, Kemi Pinhero, SAN, told the court that the electoral body objected to the tendering of the election result sheets because the petitioners went beyond the areas where the election was being disputed.
He said those local government areas improperly brought into the proceedings of the court are strange to the petition and cannot stand in the face of the law.
While interjecting, the chairman of the five-man panel, Justice Harunna Tsammani, held that it was unacceptable for the lawyer to give reasons for their objection after the commission had indicated that it would advance reasons at the address stage of proceedings.
Subsequently, Peter Afoba, SAN, who conducted the proceedings for Obi and LP tendered before the PEPC, additional exhibits to back up their petition against Tinubu which were admitted and marked as Exhibits PB 16 to PB 21.
The exhibits, which were admitted in evidence by the Justice Haruna Tsammani-led panel, consisted of certified true copies of results of the presidential election from six states of the federation – Adamawa, Bayelsa, Oyo, Edo, Lagos and Akwa Ibom states.
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The petitioners also tendered evidence before the court, including the result from Bida Local Government Area in Niger State, which was admitted as Exhibit PE 24.
Earlier on Thursday, he had tendered the results of the election from select local government areas in Rivers, Niger, Benue, Cross River, Osun, and Ekiti but did not tender that of Bida LGA in Niger.
As in the case of INEC, other respondents objected to the admissibility of the document and said they would equally reserve their reasons for objecting until the final address stage of the petition.
The court thereafter admitted results from 21 LGAs in Adamawa State and marked them as Exhibits PH 1 to PH 21. It also admitted the results of the presidential election from eight LGAs in Bayelsa State and marked them as Exhibits PJ1 to PJ 8.
Results from 31 LGAs in Oyo that the court admitted as exhibits were marked PK 1 – PK 31, while results from 18 LGAs in Edo State were marked as Exhibits PL1- PL 18.
Further tendered were results from 20 LGAs in Lagos State, which were admitted as Exhibits PM 1 – PM 20, and results from 31 LGAs in Akwa Ibom State, accepted in evidence as Exhibits PN 1–PN 31.
The panel adjourned to Monday, May 5, for a further hearing in the matter.
A Benue State High Court has upheld the suspension of former National Chairman of the Peoples Democratic Party (PDP), Iyorchia Ayu.
Ayu was in March suspended by his Nyorov council ward exco over failure to pay dues, abruptly ending his reign as the PDP National Chairman.
The ward exco had also accused Ayu of anti-party activities after which they passed a vote of no confidence on him.
While reading their resolution at the time, the secretary of the party in Igyorov ward, Vanger Dooyum, said Ayu’s anti-party activities – alongside his allies – contributed to PDP’s loss in his ward and local government in the governorship election.
They also alleged that the PDP chieftain did not vote during the governorship and state assembly elections held on the 18th of March, 2023.
According to them, most of Ayu’s closest allies worked for the opposition All Progressive Congress (APC) which resulted in the abysmal performance of the PDP in Igyorov Ward.
Twelve out of the seventeen exco members signed the documents endorsing his suspension.
The Governor of Abia State, Dr Alex Otti has appointed another 22 persons to add to the list of the initial appointments made few days ago.
In a press statement release by the Chief Press Secretary to the Governor, Kazie Uko on the June 1st 2023, the 22 persons were appointed into different positions.
Mr Michael Akpara was appointed as Special Adviser on Finance, Mr Uwanna Ikechukwu as Senior Special Assistant on Legal Matters, Professor Uche Eme Uche as Special Adviser on Education, Professor Joel F. Ogbonna as Special Adviser on Petroleum and Energy and Dr. Clifford C. Agbaeze as Senior Special Assistant on Agriculture.
Other on the appointment list are; Mr. Chimereze Okigbo as Special Adviser on Internally Generated Revenue, Mr. Uche Mark Nwosu as Chief of Protocol, Mr. Uche Ukeje as Senior Special Assistant on Aba Rejuvenation, Mr. Dodoh Okafor as Special Assistant on Public Communication, Mr. Uzor Nwachukwu as Special Adviser on Local Government and Chieftaincy Affairs, Mr. Kingsley Anosike as Special Adviser on Planning and Strategy.
Also in the list are Mr. Uzoma Nwagba as Senior Special Assistant on Digital Economy and SME, Rev Father Christian Uche Anokwuru, PhD as Special Adviser on Policies and Interventions, Mrs. Ifeoma Thomas as Special Assistant on Vulnerable Groups and Poverty Alleviation, Pastor Dike Nwankwo as Senior Special Assistant, Special Duties, Mr. Okey Kanu as Special Adviser on Strategic Communication.
Finally, he also appointed Dr. (Mrs.) Betty Emeka-Obasi as Senior Special Assistant, Special Duties, Mr. Chinedu Ekeke as Senior Special Assistant Youth and Sports Development, Mr. Chuka Ofili – Senior Special Assistant, Domestic, Hon Luke Ukara Onyeani as Senior Special Assistant on Legislative Matters, Navy Commander Macdonald Ubah (Rtd) as Special Adviser on Security, Dr. Chimezie Ukaegbu as Special Adviser on Trade and Commerce respectively.
All appointments are to take effect starting from 1st of June, 2023.
The Nigeria Labour Congess (NLC) has declared a nationwide strike from next Wednesday.
The union announced the industrial action on Friday, following a meeting of its National Executive Council (NEC) in Abuja over the fuel subsidy removal and subsequent hike in the pump price of petrol.
The NEC comprises all Presidents, General Secretaries, Treasurers of all NLC’s affiliate unions; State Chairpersons and Secretaries of the NLC State Councils, Chairperson of the NLC Youth Committee and members of the National Administrative Council (NAC).
This comes amid the fuel scarcity across the country occasioned by President Bola Tinubu’s inaugural speech in which he declared that “fuel subsidy is gone”.
The meeting between the organised Labour and the government ended in stalemate and the product sells for over N500 per litre an over 200 hundred percent increment from the former price of N198 per litre.
President Bola Tinubu has named Senator George Akume, immediate past Minister of Special Duties, as Secretary to the Government of the Federation.
This is contained in a statement issued by Abiodun Oladunjoye, the State House Director of Information on Friday
“President Bola Ahmed Tinubu Friday in Abuja announced the appointment of Speaker of House of Representatives, Rt. Hon. Femi Gbajabiamila as Chief of Staff, and Sen. Ibrahim Hassan Hadejia, a former Deputy Governor of Jigawa State, as Deputy Chief of Staff.
“In a meeting with Progressives Governors Forum (PGF), the President also named former Governor of Benue State and immediate past Minister of Special Duties, George Akume, Secretary to the Government of the Federation (SGF).”
A legal practitioner and social critic, Inibehe Effiong has urged people not to panic over objections to admissibility of documents by the Independent National Electoral Commission, INEC, at the ongoing hearings at the Presidential Election Petition Tribunal, saying it is a distraction.
Effiong claimed that the objected documents by the INEC were duly certified, adding that the Court will act on them.
In a post via his verified Twitter handle on Thursday, the legal expert claimed that “the Electoral Commission’s neutrality is a mirage, especially in electoral litigations”.
He alleged that the INEC had basically aligned its defence strategy with the other Respondents, including the All Progressives Congress, APC.
He wrote, “People should not panic over objections to admissibility of documents by INEC at the Presidential Election Petition Tribunal. I’m not surprised by INEC’s roguish and embarrassing attitude. These are public documents duly certified. The Court will act on them. It is a distraction.
“Ordinarily, INEC being the maker of the documents which they’ve certified, that is Form EC8 series (polling unit & collation results), they’re not supposed to object to their admissibility.
“I’ve always said that INEC’s neutrality is a mirage, especially in electoral litigations.
“The documents have been admitted, though the Respondents will state the grounds for their objections in their final addresses.
“Typically, the tribunal will look into the documents and act on them.
“As long as the documents have been duly certified, there’s no cause for alarm.
“INEC has basically aligned their defence strategy with the other Respondents (Tinubu, APC and Shettima). They’re working in sync as they always do.”
President Bola Tinubu, the All Progressives Congress, APC, and the INEC had on Wednesday objected to the admission of some documents sought to be tendered in evidence by the presidential candidate of the Labour Party, Peter Obi.
Peter Obi, and his party tendered INEC form EC8A from six states to advance their petition challenging the declaration of the All Progressives Congress (APC) candidate as the winner of the February 25 presidential election.
The presiding Justice of the five-member panel of Justices of the Presidential Election Petition Court (PEPC), Justice Haruna Tsammani admitted the INEC form EC8A from 23 local government areas of Benue state and were marked exhibit PC (1-23).
For Rivers state, the court admitted INEC form EC8A from 15 Local Government areas out of the 23 local governments Areas of the state and was marked PD (1-15)
Counsel for Obi and his party, Chief Emeka Okpoko, (SAN) who handled Thursday’s proceedings on behalf of the lead counsel, Awa Kalu (SAN) tendered INEC form EC8A for 23 local government areas of Niger state, which the court admitted in evidence and were marked as exhibit PE (1-23).
The petitioners also tendered INEC form EC8A from Osun state which challenged the election of 20 local government areas of the state, which were admitted and marked as exhibits PF (1-20).
Also for Ekiti state, the court admitted in evidence, INEC forms EC8A from 16 local governments of Ekiti state and marked them as exhibit PG (1-16).
The court admitted all the documents tendered by the petitioners, despite objections to the admissibility raised by INEC, Tinubu, Kashim Shettima, and the APC, who are first to fourth respondents in the petition.
The respondents informed the court that they will give reasons for their objection to the admissibility of the documents at the address stage.
The local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity, the Nigerian National Petroleum Company Limited has said.
The NNPCL’s Group Chief Executive Officer, Mele Kyari, who disclosed this during an interview on Arise television in Abuja on Thursday, stressed that the notion that petrol prices would reduce once the country starts domestic production was false.
Kyari confirmed that the Dangote Refinery, which was inaugurated on May 22, 2023, by former President Muhammadu Buhari, would start pushing out products by the end of July and early August.
He also stated that the Port Harcourt Refinery would be delivered by the end of the year, adding that the facility was expected to further boost local production of petrol.
But Kyari declared that despite the volume of petrol being expected from these facilities, the cost of the commodity would not reduce, regardless of the fact that the product was produced locally.
“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.
“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” Kyari stated.
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