BIG STORY

FG Reaches Agreement With Oil Producers On Supply Of Crude Oil To Local Refineries

Published

1 year ago

July 12, 2024

The federal government, through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has struck a deal with oil producers to sell crude oil to local refiners at market prices, resolving a longstanding supply dispute that had strained relationships with international oil companies.

NUPRC CEO Gbenga Komolafe stressed that pricing issues should no longer hinder domestic refining, paving the way for a more harmonious and market-driven approach to crude oil sales.

“We will never allow price strangulation to disincentivise our domestic refining capacity optimisation,” said Komolafe.

Komolafe highlighted the commission’s commitment to preventing “crude supply profiteering” while ensuring that oil production remains profitable.

To ensure transparency, the NUPRC has requested monthly cargo price quotes on crude oil supply and delivery from both producers and refiners.

The NUPRC aims to balance upstream development with a sustainable domestic energy supply chain, reinforcing its role in fostering a fair and profitable oil production environment.

Recall that earlier in the year, the NUPRC directed local and international oil companies to prioritise the supply of crude oil to local refineries. The regulator further set a target of 483,000 barrels to local refineries with the Dangote refinery expected to receive 325,000 barrels daily.

Additional refineries expected to benefit from the crude oil supply include the Warri and Port Harcourt refineries, which are slated to receive 75,000 and 54,000 barrels of crude oil per day, respectively. Meanwhile, smaller refineries such as Waltersmith, OPAC, and Niger Delta Petroleum Refinery, among others, are set to receive 10,000 barrels per day or less.

Later in April, the NUPRC mandated all oil companies in Nigeria to supply crude oil to domestic refineries that are unable to source it locally. Only after meeting these domestic supply obligations are producers allowed to export crude oil. The Petroleum Industry Act (PIA) mandates that international oil companies must first meet local demand by supplying crude oil to domestic refineries before exporting any surplus.

However, last month, Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), accused International Oil Companies (IOCs) in Nigeria of deliberately attempting to undermine the Dangote Oil Refinery and Petrochemicals.

Edwin asserted that the IOCs are intentionally obstructing the refinery’s efforts to purchase local crude by inflating premium prices above market rates. This forces the refinery to import crude from distant countries such as the United States, resulting in significantly higher costs.

Nigerians expected the 650,000 barrels Dangote refinery to significantly or end the country’s petrol import dependence in the era of post-subsidy removal.

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BIG STORY

We Never Seized Her Passport — NIS Denies Natasha’s Allegation

Published

4 hours ago

November 4, 2025

PorscheClassy News

The Nigerian Immigration Service (NIS) has rejected claims by Senator Natasha Akpoti-Uduaghan of Kogi Central that its personnel seized her passport in an alleged attempt to stop her from travelling.

Speaking to Channels Television on Tuesday, NIS spokesperson Akinsola Akinlabi responded shortly after the senator released a video alleging she was being prevented from flying. He explained that the situation was a normal part of airport immigration clearance.

According to Akinlabi, “NIS didn’t seize the distinguished senator’s passport, but rather she went through routine immigration checks and was allowed to travel.” He emphasized that the officers were carrying out standard duties and acted within the law.

He further stated that immigration officials sometimes take passports temporarily to conduct necessary checks, but that does not amount to confiscation. “The NIS officers needed to conduct their checks. They may take your passport to do so, but that doesn’t mean it was seized as alleged.”

Akinlabi noted that Senator Akpoti-Uduaghan completed her checks and travelled as planned. He added that the senator may have assumed she was being stopped because she was waiting for the process to be concluded. “She has since been allowed to travel. Perhaps while waiting for the checks to be completed, she assumed she was being stopped from travelling.”

He pointed out that the senator’s video was recorded during the routine process, and she did not provide an update after clearance was granted. “She has travelled since then. The video was made while she was going through the checks, not after. The passport was never seized,” he said.

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BIG STORY

Firm Seeks ‘Remote Prayer Warrior’ For N500k A Month

Published

7 hours ago

November 4, 2025

PorscheClassy News

A company has advertised a job vacancy for a “dedicated and spiritually grounded” prayer warrior who will serve as a corporate intercessor for its executive leadership and business operations.

The listing was posted on the recruitment platform Indeed by Betafans NG, which is identified on the website as a firm operating in the broadcast media sector.

According to the advert, the ideal applicant must be a Christian prayer warrior who will offer consistent prayer support, spiritual guidance and prophetic covering to help ensure “divine alignment, peace, and progress” across multiple business ventures.

The responsibilities outlined in the posting include leading daily and weekly intercessory prayers for the leadership team and ongoing projects; preparing and observing a structured prayer calendar with themes such as growth, protection, wisdom, partnerships and expansion; and hosting remote prayer meetings or vigils via Zoom or other virtual platforms.

The successful candidate will also be required to maintain a private prayer journal documenting topics, scriptures, insights and testimonies; provide periodic spiritual briefings on prayer focus areas; uphold confidentiality and discretion in all company-related issues; and offer spiritual support during special moments such as new product launches, crisis periods or major business decisions.

Other expectations include a strong personal commitment to a consistent prayer routine with at least three prayer sessions daily, prior experience as an intercessor or prayer coordinator, and high moral standards and humility.

The firm indicated that preference will be given to applicants with verifiable experience praying for individuals, organisations or ministries, as well as familiarity with business or startup environments, and prior ministry or intercessory background.

Spiritual mentorship was listed as an added advantage.

The advert states that the role will attract monthly pay ranging from N400,000 to N500,000.

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