Connect with us


BIG STORY

NNPCL Ends N24Trillion Annual Fuel Import, Buys From Dangote Refinery

Published

on

The Nigerian National Petroleum Company Limited has ceased importing refined petroleum products and is now sourcing fuel from the Dangote Petroleum Refinery and other local refineries.

NNPC’s Group Chief Executive Officer, Mele Kyari, made this announcement on Monday at the ongoing conference of the Nigerian Association of Petroleum Explorationists in Lagos, themed ‘Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability.’

This development comes amid claims by some petroleum marketers that they would continue to import petroleum products but sell them at a price lower than that of the $20bn Dangote refinery.

In August, President Bola Tinubu stated that the country spent an average of N2tn monthly on fuel imports.

According to Tinubu, the introduction of compressed natural gas (CNG) into the country would save “over N2tn a month used to import PMS and AGO and free up our resources for more investment in healthcare and gas education.”

The President’s statement implies that the country spends approximately N24tn annually on importing petrol and diesel, excluding aviation fuel, kerosene, and gas.

Despite being an oil-producing nation, Nigeria has relied on imported fuels for years due to insufficient local refining capacity.

Speaking at the NAPE Conference, Kyari revealed that the NNPC is no longer importing fuel and is now sourcing only from domestic refineries.

“Today, NNPC does not import any product, we are taking only from domestic refineries,” he stated.

It’s important to recall that NNPC was initially the sole off-taker of Dangote PMS until the Federal Government allowed other marketers to source directly from the refinery.

Kyari dismissed claims that NNPC was sabotaging the Dangote refinery.

Addressing concerns about domestic refining, he said there had been several media reports suggesting that NNPC was hindering local refineries by not supporting them sufficiently.

“The point is very far from it, and I’m going to speak to it straight. We are very proud part-owners of Dangote refinery, no doubt about it. We saw an opportunity that there is a clear market for at least 300,000 barrels of our production; we know that as time moves on, people will start struggling to find markets for their production.

“It will happen, it’s already happening. Oil is found, as you know, in many unexpected locations across the world and people have choices. Therefore, we saw an opportunity to log supply to the domestic refinery, not just Dangote but any other refinery that operates in the country, so it was a very informed business decision.

“Therefore, from day one, we knew that it is to our benefit to supply crude oil to the domestic refinery, so we don’t need to be persuaded; we don’t need anyone to talk to us, there is no need for any pressure from the streets for us to do this. We are already doing this,” he clarified.

On the topic of Nigeria needing to domesticate its oil, Kyari noted that Nigerian crude is “Lamborghini crude,” meaning the products derived from it would be expensive.

He argued that the issue of high-quality fuel is relative, as many refineries avoid Nigerian crude due to its price.

Kyari shared that some global traders buy Nigerian crude and blend it with lower-quality fuels to reduce costs.

“We should never forget that Nigerian crude is ‘Lamborghini crude.’ If we choose that every product that we have in this country must come from domestic production, then we must deal with pricing. Otherwise, out there in the global market, everybody buys Nigerian crude and blends it with dirtier crude to process. A lot of you will confirm this. So, no one takes Nigerian crude except one or two refineries that I know. Straight processing of Nigerian crude, nobody does this because you do have a gap in value if you do this.

“Therefore, as a country, and I believe this strongly also, that we must process all the crude that we produce in the country to the optimum. You can do intermediate products and sell to the market, you are still adding value. You don’t have to sell gasoline that is coming from Nigerian production.

“You can do something different so you can process it domestically, but it’s going to be high quality. As we all know and it’s very clear in the media that we are selling high-quality products, that’s very true but you need not do this. You are driving a Keke-Napep and you want Lamborghini fuel, you do not need it. So, the quality issue is a relative thing, it’s by geography, by location, and we will do everything possible to make sure that we domesticate this.

“Today, NNPC does not import any product, we are taking only from domestic refineries. But I also know that we are working jointly with the government to make sure that we manage the issue around prices if we have to source all our supply from the domestic market. It will be an issue and we are already resolving it. I can confirm that substantial work has been done and this will no longer be an issue.”

BIG STORY

Music Band Boy Commits Suicide After Boss Tortured Him For Stealing “Sprayed Money” [VIDEO]

Published

on

A Lagos young guitarist identified as Lekan, has allegedly committed suicide after being tortured for stealing money from the leader of a music band group in Ogun State.

Lekan, who was pronounced dead by medical experts at a private hospital in Ifo Local Government Area of the state, was found lying lifeless inside his room after drinking an insecticide liquid, “sniper,” to get away from the trauma that trailed the allegations from his boss who was identified as Sam Omo-Oba.

It was learnt that the deceased was tortured and recorded alongside Ayo, another member of the band, for stealing the money realized from their performance at a Celestial Church of Christ (CCC) anniversary celebration where they entertained guests and worshippers.

The development has thrown the entire Oke-Aro community in Ifo Local Government into mourning, considering the circumstances surrounding the demise of the 26-year-old guitarist who lived in their community but operated often in Lagos.

On Wednesday, a close member of the family told our correspondent that Lekan was pronounced dead by medical experts on Monday, less than 24 hours after they left the church show on Sunday. The source, who identified himself as Kola, narrated that the family, even after seeing him lifeless still rushed him to hospital with a commercial motorcycle popularly called “Okada.”

“He was rushed to a private hospital to save him but the medical facility rejected the family request which prompted the move to another healthcare facility where the doctors pronounced him dead”.

Kola explained that the theft allegation, which was linked to the young artist’s demise, started after Sam Omo-Oba asked that members of his band who could not go home spend the night in his house.

“But they could not spend the night in his house because he was not allowed into the estate, so they decided to lodge at a hotel close to the community.

“While in the hotel, we heard that Sam and the band members drank and slept in the same room. In the morning, the band boss raised an alarm that Lekan and Ayo had stolen money inside his pocket, demanding they return it immediately”.

It was gathered that the deceased guitarist maintained the innocence of the crime he was being linked to during the torture. In the video making rounds online, Lekan was seen being allegedly tortured over the theft despite denying any link to the alleged crime perpetrated.

In the less than one-minute video, Lekan and Ayo were seen being questioned about who took the money and their responses attracted torture after the answers failed to meet expectations of the band leader.

In another video, a voice, suspected to be that of Sam Omo-Oba, was heard announcing that some notes had been discovered where the deceased and Ayo allegedly hid them.

Analyzing the videos, a resident of Oke-Aro who identified himself as Micheal told The Guild that the deceased was wrongly accused of theft, saying, “I know Lekan, rather than steal would prefer to work to earn his pay daily. And since our paths crossed, I have not earned that he stole from people”.

He added, “The torture and recording may have affected him psychologically that he considered suicide as the next option. I say this because, on his body, there were bruises on him which indicated that the torture was too much for him.

“I know him since he started playing drum under Kehinde Carlos and I have no record of theft linked to him. You can see it that the video showed the deceased insisting that he never took the money from his boss even when he was beaten to accept the allegations.

“The entire issue is sad and I can’t believe that Lekan is gone. I wish that this whole scenario could be reversed to avoid this tragedy. This is a young man with aspirations in the music industry. I know how he aspired to handle musical instruments for the big artists in the country. But now, all the dreams have been shattered”.

Efforts to get the Ogun Police Command spokesperson, SP Omolola Odutola, to confirm the sad development proved abortive.

 

Credit: The Guild

 

Continue Reading

BIG STORY

Doctor, Three Nurses Die In Same Hospital Within 72 Hours In Saki, Oyo State

Published

on

A doctor and three nurses have been reported dead in a hospital in Saki West Local Government Area of Oyo State within 72 hours.

According to Vanguard News, this has created panic among residents of the ancient town, particularly around the hospital.

The hospital has been identified as Almusharaf Hospital, Oke Sunah.

A resident of the area, Adekunle Lawal, told Vanguard News: “Three days ago, one nurse died and on Monday another nurse died and yesterday, the doctor and another nurse died.

“We are afraid because we don’t know what caused their deaths.

“The doctor is a quack doctor.

“Maybe all of them treated a patient who has a contagious disease, which, I think, was not well handled.

“It’s a very big hospital.

“They carry out minor surgery on patients and at times they invite doctors from elsewhere to join them.

“If it’s a contagious disease, how come that no patient died but the staff?

“People are also speculating that it could be food poisoning.

“Maybe one of them ate food and gave it to the others to eat.

“We don’t know.

“All these are mere assumptions until those responsible for monitoring these hospitals carry out an autopsy on the deceased.

“None of the patients died.

“It’s only the staff of the hospital.

“All of them have been buried.

“You know they are Muslims.

“Please, the Ministry of Health and other relevant agencies should step in.”

Continue Reading

BIG STORY

President Tinubu Determined To Eliminate Bandits, Terrorists — Nuhu Ribadu

Published

on

The National Security Adviser, “Nuhu Ribadu,” has warned that obstructing security under President “Bola Tinubu’s” administration will not be tolerated.

According to the News Agency of Nigeria (NAN), Ribadu made this statement at the Comptroller General of Customs Conference in Abuja on Wednesday, emphasising the President’s determination to eliminate bandits, terrorists, and other security threats.

According to him, the government’s high-level strategies had led to the killing of hundreds of bandits daily, forcing many to flee to Chad.

“This prompted the Chadian president to declare war on them.”

“We will secure this country, we will fix it, we are not jokers,” he said.

“Ribadu” assured that the government was working tirelessly to achieve a secure environment, which is crucial for the country’s development.

He cited the improved security situation in the Niger Delta region and the significant increase in crude oil production, which had reached 1.8 million barrels per day.

“Many parts of our country today are living in peace. Go to the Niger Delta, things have changed,” he added.

The NSA urged Nigerians to be patient in the face of the current challenges, as the government’s policies were designed to sanitise the system and improve the economy.

He noted that the “Central Bank of Nigeria” was being reformed, adding that “Naira” would be stabilised.

“Ribadu” also commended the achievements of the “Nigeria Customs Service” and encouraged career officers to aspire to leadership positions, stressing that opportunities for growth were now available to them.

The NAN reports that the conference, which began on Tuesday, is scheduled to end on Friday.

Continue Reading



 

Join Us On Facebook

Most Popular