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FG Moves To End Fuel Scarcity, Raises 14-Man Panel Chaired By President Buhari

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In its quest to put an end to the ongoing fuel scarcity, the federal government, on Tuesday, approved the constitution of a 14-man committee on petroleum products supply and distribution management, which will be personally chaired by President Muhammadu Buhari.

This is contained in a statement signed by Horatius Egua, Senior Ad­viser (Media & Communications) to Minister of State for Petroleum Re­sources, and made available to jour­nalists in Abuja on Tuesday.

It noted that the steering committee, which has the minister, Chief Timipre Sylva as Alternate Chairman is expected to among other things ensure transparent and efficient supply and distribution of petroleum products across the country.

Other terms of reference, the statement said, are to ensure national strategic stock management, visibility on the Nigerian National Petroleum Company Limited (NNPC), refineries rehabilitation program, and end-to-end tracking of petroleum products, especially petrol, to ascertain daily national consumption and eliminate smuggling.

To further ensure sanity in the supply and distribution across the value chain, Sylva said that he had directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure strict compliance with the government-approved ex-depot and retail prices of petrol.

The minister further directed the NMDPRA to ensure that NNPC limited, which is the supplier of last resort, meets the domestic supply obligation of petrol and other petroleum products in the country.

The statement stated that the interest of the ordinary Nigerian should be protected from price exploitation on other deregulated products such as diesel, kerosene, and gas.

“The federal government will not allow misguided elements to bring untold hardship upon the citizenry and attempt to discredit government’s efforts in consolidating the gains made thus far in the oil and gas sector of the economy,” Sylva noted.

Other members of the committee are the Minister of Finance, Permanent Secretary, Ministry of Petroleum Resources, National Economic Adviser to the President, Director-General, Department of State Services (DSS), Comptroller-General, Nigerian Customs Service (NCS), Chairman, Economic and Financial Crimes Commission (EFCC), and Commandant-General, Nigerian Security and Civil Defence Corps (NSCDC).

Others that made up the steering committee are the Authority Chief Executive, (NMDPRA), Governor, Central Bank of Nigeria (CBN), Group Chief Executive Officer, NNPC Limited, Special Adviser (Special Duties) to Sylva, while the Technical Advisor (Midstream) to the HMSPR will serve as Secretary.

Meanwhile, Sylva has said that the unprecedented and sustained Declaration of Cooperation (DoC) with 10 non-Organisation of Petroleum Exporting Countries (OPEC) oil-producing countries remains an unparalleled feat in the history of the oil industry.

The DoC saved the oil industry from total collapse due to the COVID-19 pandemic, as well as helped in the recovery of the global economy following the devastating pandemic, Sylva stated.

The minister spoke when Equatorial Guinea’s Minister of Mines and Hydrocarbons, Gabriel Mbaga Obiang Lima, visited him in Abuja.

Sylva explained that it is now widely acknowledged that, had OPEC not existed over the past 60 years, the global oil market would have been in perpetual chaos.

“Many countries would not have been able to develop their oil industry due to stiff competition. The collaboration between OPEC member countries enabled the participation of all players, whatever the level of production. This underpins the importance of OPEC membership.

“It is remarkable that the current 13 members of OPEC – accounting for about 80 percent of the global proven crude oil reserves, 38 percent of production, and 48 percent of exports – include seven African countries – Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, and Nigeria.

“ It is likewise remarkable that Africa is producing the 4th President of OPEC Conference in consecutive years. This is a demonstration of Africa’s capability to lead and direct global affairs, and to take its rightful place among the comity of nations on global issues,” Sylva stated.

Sylva also alluded to a pertinent challenge that currently threatens the oil and gas industry in Africa.

“This has to do with dwindling investments. With the fastest-growing population in the world and an unimaginable prevalent energy poverty level across the continent, Africa’s energy needs will continue to grow in leaps and bounds over the foreseeable future.

“It is estimated that about 640 million Africans have no access to electricity, while about 900 million Africans have no access to clean cooking fuels. While taking cognizance of the current global drive towards renewable energy, Africa will undoubtedly need to continue to utilize its abundant oil and gas resources for the continent to be delivered from the shackles of perpetual energy poverty and stunted economic growth.

“Africa has an enormous proven crude oil reserve of over 125 billion barrels and over 630 trillion cu foot (TCF) of natural gas reserve. Investments required in the medium term to sustain oil and gas production in the continent was recently estimated at an average of about $40 billion annually,” the minister said.

Sylva implored the minister from Equatorial Guinea to use the opportunity of his presidency tenure to promote the cause of Africa and attract more investments into the oil and gas industry in the continent.

“ I am of the opinion that local content should be at the driver’s seat for investments in Africa’s oil and gas industry, for the continent to witness sustainable development. In this context, the ongoing move to establish an African Energy Bank is a right move in the right direction.

“Nigeria will continue to lend full support to the efforts of both OPEC in its quest to balance and stabilize the energy market for the benefit of all, as well as strengthening our shared values and protecting our common interest,” the minister added.

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Nationwide Protest: Hon. Amusan Calls For Patience, Restraint

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A former House of Representatives member from Ogun State, Hon. Kayode Jelili Amusan has pleaded with the organizers of the planned nationwide protest tagged ‘End Bad Governance’ slated for August 1, 2024 to reconsider their stance and rather show more understanding and patience towards the many initiatives and programs the Federal Government is deploying towards alleviating the present harsh economic realities the nation is presently facing.

He further advised that rather than embark on protests that may spiral out of control and lead to a breakdown of law and order, as recently witnessed in Kenya, the brains behind the protests should rather seek a way where themselves and representatives of the Federal Government can sit on a round table and they can put their demands forward and even ask for specific timelines to realistic demands, urging that politicizing the situation may not be in the best interest of the nation.

According to Amusan, ‘’the present economic realities of our nation call for a concern and we need concerted efforts, both on the part of the elected government officials and the people being governed to pull through and return our nation to the path of economic recovery. The people have a right to protest and make their grievances known to the government but the truth is, as we have seen with Kenya, protests without identified leaders can be hijacked by people with ulterior motives and then we have a breakdown of law and order. Nigeria cannot afford any at a time like this. What we need is to come together as a people, both the government and the governed and find lasting solutions to the many challenges we are facing as a people. The current economic situation in the country is not one anyone should be proud of, regardless of our political or social standing. As we have seen that the government is putting measures in place to arrest the situation, what we need right now is not a protest but concerted efforts at returning our nation to its days of self-sufficiency and prosperity’’.

Amusan also commended the judiciary and the Bola Tinubu government for the recent Supreme Court pronouncement on local government autonomy. According to him ‘’the local government is the closest to the people, it should be synonymous with rural development, empowerment and any efforts towards strengthening it should be supported’’. The Supreme Court’s landmark judgement included a decision that overturned the longstanding practice where state governments received federal allocations on behalf of local government areas and withheld the funds. Nigeria’s Supreme Court affirmed on 11 July the financial autonomy of the nation’s 774 local governments.

Hon. Amusan, a two-time governorship aspirant in Ogun State is the chairman of Kamson Holdings Limited and represented Abeokuta North/Odeda/Obafemi-Owode Federal Constituency from 2003-2011 in the House of Representative

 

 

 

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BREAKING: Senator Ifeanyi Ubah Dies In London

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Renowned businessman and politician, Senator Ifeanyi Ubah, has reportedly passed away in London.

The Senator from Anambra State had recently joined the All Progressives Congress (APC) and was considering seeking the party’s nomination for the upcoming governorship election in Anambra State.

While details surrounding his death are still limited, sources indicate that he made a financial contribution to the Anambra APC just two days prior.

This news comes shortly after the passing of Chief Emmanuel Iwuanyanwu, President-General of Ohanaeze Ndigbo.

 

More to come…

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IGP Egbetokun Finally Approves Hunger Protest, Asks Organisers To Submit Names, House Addresses, Others

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On Friday, Inspector-General of Police Kayode Egbetokun requested that all groups planning to participate in the upcoming nationwide protest provide their details to the Commissioners of Police in their respective states.

During a press briefing at the Force Headquarters in Abuja, Egbetokun explained that this request is aimed at ensuring a peaceful protest.

Additionally, Egbetokun revealed that the police have received intelligence indicating that foreign mercenaries are involved in the planned protest.

This information has raised concerns about potential violence and unrest, prompting the police to take proactive measures to maintain public safety and order.

By submitting their details, protest groups can help the police to better understand their plans and take necessary steps to prevent any potential disruptions or security threats.

He said, “We acknowledge the constitutional right of Nigerian citizens to peaceful assembly and protest. However, in the interest of public safety and order, we urge all groups planning to protest to provide necessary details to the Commissioner of Police in the state where the protest is intended to take place.

“To facilitate a successful and incident-free protest, they should please provide the following information.”

Other guidelines, according to him, are “stating the proposed protest routes and assembly points. 2. Expected duration of the protest. 3. Names and contact details of protest leaders and organizers.

“Measures to prevent hijacking by criminal elements, including key identifiers for possible isolation of potential troublemakers. By providing this information, the police will be enabled to deploy adequate personnel and resources to ensure public safety.

“Designate specific routes and areas for the protest to avoid conflicts with other events or activities. Establish clear communication channels with protest leaders to address any concerns or issues that may arise.

“Minimize the risk of violence, property damage, or other criminal activity. We encourage all protestors to cooperate with the police, obey the law, and adhere to global best practices for peaceful assembly to guarantee a safe and successful exercise of their rights.”

The top cop said they have been monitoring development surrounding protest threats, saying while some groups call for violent protests, emulating Kenya’s recent events, others advocate for peaceful demonstrations.

“However, some individuals promote peaceful protests with violent undertones, raising concerns about their sincerity. We have our history of violent protests in Nigeria, and I don’t believe we have to look to other countries to note the dangers of unchecked demonstrations.

“We commend patriots who have withdrawn from the protest due to the apparent sinister motives and ignorance of those calling for violence. We note those who have spoken out against any form of protest at this critical juncture, fearing enemies of our country may be manipulating the process.

“We confirm their fears are genuine, as we have credible intelligence on foreign mercenaries’ involvement in this planned protest. The Nigerian police urge all Nigerians to exercise caution and think twice before joining any protest group.”

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