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NNPC Can’t Keep Paying Petrol Price Differential Without Going Bankrupt — Onanuga

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Bayo Onanuga, special adviser on information and strategy to President Bola Ahmed Tinubu, says the Nigerian National Petroleum Company (NNPC) Limited admitted to having financial constraints because it can no longer subsidise petrol.

In an X post (formerly known as Twitter) on Tuesday, Onanuga said if NNPC continues to pay the differences in landing cost and petrol price, the national oil company will go bankrupt.

NNPC had earlier increased the price of petrol to N855 per litre. However, the premium motor spirit (PMS) landing cost is around N1,200.

Earlier reports on Sunday showed that the lingering petrol scarcity in many parts of the country was worsened by a $6 billion debt NNPC owed suppliers.

Hours later, NNPC admitted to owing suppliers of premium motor spirit (PMS), also known as petrol, adding that it was facing financial strain due to the petrol supply costs, and this is affecting the company’s ability to sustain PMS supply.

Prior to acknowledging the debt, NNPC had denied subsidising petrol after TheCable reported that the president approved a request by the company to utilise the 2023 final dividends due the federation to pay for the subsidy.

Speaking on the subsidy and the impact on NNPC’s finances, Onanuga said NNPC’s debt was a result of the company’s efforts to absorb rising petrol costs and protect Nigerian consumers, rather than any government deception.

“NNPC cried out recently because it can no longer sustain the price differential on its balance sheet without becoming insolvent,” he said.

“The situation has greater implications for the ability of the three tiers of government to function as the NNPC has failed to pay into the Federation Account, the money that should go to the government.

“There are no easy choices. Something must be done to make NNPC survive, and keep the engines of government running and petrol flowing at the pumps.

“That is the scenario that is unfolding, and the game changer and big relief giver may well be the Dangote refinery and other local refineries, which will become the fuel suppliers to the local market.

“When Dangote Refinery and other refineries, including government-owned Port Harcourt Refinery, come fully on stream, our country and economy will benefit on all fronts. There will be many good paying jobs that will be created along the value chain.”

Also, Onanuga said there will also be a drop in the huge demand for foreign exchange to import petroleum products.

  • ‘FG Never Lied About Removing Subsidy’

Onanuga said the federal government did not lie about the removal of the subsidy.

According to the spokesperson, the federal government has been faithful to its policy of deregulating the petroleum sector.

He added that the government’s decision to remove the petrol subsidy was reflected in the 2023 supplementary budget, 2024 budget, and amended 2024 budget, where provisions for subsidy payments were absent.

“I have read a series of articles attacking the Federal Government for not telling the truth about fuel subsidy payments, following NNPC Limited’s admittance it was owing suppliers some $6 billion,” Onanuga said.

“Some of the stories have been written with relish, as the authors believed they have uncovered some scoops.

“The truth is that there is no discovery. No lie uncovered. The government has been faithful to its policy that it was no longer going to pay fuel subsidies since President Tinubu announced the deregulation of the PMS sector on 29 May 2023. Since then, subsidy provisions have disappeared from the budget.

“It was not in the Supplementary budget of 2023, not in the 2024 budget and the amended 2024 budget.

“So the giddy headlines about the so-called unraveling of the Tinubu government’s subsidy payment; and return of subsidy were not justifiable.

“Rather what has unravelled was the commendable disposition of the oil company owned by all the tiers of government to absorb the rising costs of petrol at the pump and protect the Nigerian consumer.”

Onanuga said the generous disposition of NNPC, backed by the president’s unwillingness to let the people suffer, has been under threat for months, because of the rising cost of crude and the devalued naira.

BIG STORY

10,000 New Recruits Ready For Deployment February 2025 — Police

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The Nigeria Police Force has revealed that the 10,000 newly recruited constables and specialists, currently undergoing training, will be deployed in February 2025.

As part of the Federal Government’s community policing initiative, the recruits will be assigned to their states of origin.

The recruitment process, conducted by the Police Service Commission, was initially met with controversy. In June, the commission released the list of successful applicants, but the police, under Inspector General Kayode Egbetokun, rejected it, citing allegations of corruption and seeking a fresh recruitment process.

The PSC stood by the integrity of the process, leading to a standoff. However, in July, the police accepted the list, and the recruits began their training.

With training underway, the February 2025 deployment will mark the culmination of this recruitment cycle, bolstering community policing efforts nationwide.

Speaking in an interview (with The Punch) on Tuesday, the Force spokesperson, Muyiwa Adejobi, said the recruits’ training was being conducted in 16 police training institutions across the country.

He added that the training commenced on August 10, 2024, for the General Duty cadre, adding that the exercise would last for six months.

Adejobi said the specialist cadre training will commence on 28 September 2024.

He said, “The training is currently being conducted in 16 police training institutions spread across the federation. The training commenced on 10 August 2024 for the General Duty cadre and would last for six months. The specialist cadre will commence training on September 28, 2024.

“This implies that come February 2025, all the successfully trained recruits (both General Duty and Specialist) will be absorbed into mainstream policing and deployed to their various states of origin in line with the community policing scheme of the Federal Government.”

Adejobi also said the ongoing training for the newly recruited constables is guided and conducted through the implementation of a new and robust Training Plan and Curriculum.

He added, “The training plan and curriculum provide for three learning phases, the Basic Training Course, Intermediate Training Course and the Practical Police Duty Course.

“These phases will emphasise the rudiments, fundamentals, core principles and concepts of contemporary policing, suitable for a dynamic society such as our dear country, Nigeria.

“The courses being taught encompass core areas, such as practical beat duty policing, police professional studies, including suspects’ handling and detention, criminal law, emotional intelligence, distress and complaints handling, police ethics and code of conduct, public relations and community policing, fundamental human rights, gender education, firearms handling and shooting range practice, unarmed combat, use of English and French languages, ICT, forensics, general liberal and field studies, amongst others.

“Recruits will also be exposed to relevant areas of law as it relates to policing. These include knowledge of the Constitution of the Federal Republic of Nigeria, 1999; Nigeria Police Act, 2020; Administration of Criminal Justice Act, 2015; Evidence Act, 2011 (as amended); Cybercrime Prevention Act, 2015; Electoral Act 2022, etc.”

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55-Yr-Old Woman Slumps, Dies While Sharing Testimony In Lagos Church

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A 55-year-old woman, identified as Ifeoma, tragically passed away on September 8, 2024, after collapsing during Sunday service at a church in the Ejigbo area of Lagos State.

According to reports, Ifeoma had stepped forward to share her testimony around 8:48 am when she suddenly collapsed. Despite prompt medical attention, she died shortly thereafter.

Lagos State Police Command spokesperson, Benjamin Hundeyin, confirmed the incident on Wednesday, stating that Ifeoma was rushed to a nearby hospital where she was pronounced dead.

Eyewitnesses described the scene as Ifeoma sang praises and prepared to share her testimony before suddenly collapsing.

He stated, “The Zonal accountant of the church in Ejigbo came to the station and reported that during testimony hour in the church, while the service was on, Ifeoma came out singing songs to give her testimony when she suddenly slumped.

“She was quickly rushed to a nearby hospital but was referred to the General Hospital in Isolo, where she was confirmed dead.

“Based on the report, detectives were detailed to visit the hospital with the complainant. On getting there, they were told that the husband and family of the deceased had taken the corpse to Anambra State, where she came from for burial.”

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Two UK-based Nigerians Risk Life Jail After Rape Conviction

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Two Nigerians, Tosin Dada and Solomon Adebiyi, now face the possibility of life imprisonment for multiple rape charges after being convicted by a jury at the Northampton Crown Court in the United Kingdom.

It was gathered from Lawtons Solicitors, a UK-based law firm, and a feminist charity organisation, Rape Crisis (England & Wales), that under the UK’s Sexual Offences Act 2003, the maximum sentence for rape is life imprisonment.

It was earlier reported that the Northamptonshire Police announced the conviction of the two Nigerians on its official Facebook page on Monday.

The conviction of Dada and Adebiyi follows weeks after a Nigerian pilot, Olukayode Ojo, was found guilty in a Texas court in the United States for making false statements to obtain a certificate from the Federal Aviation Administration.

The Northamptonshire Police announced that the convicts, Dada and Adebiyi, had each been charged with three counts of rape related to a March 2022 incident, while claiming they had engaged in consensual sex with a 17-year-old girl.

However, the jury found these claims false, ruling against them and declaring both guilty.

“Tosin Dada, 34, previously of Knox Road, Wellingborough, and Solomon Adebiyi, 39, previously of Stanley Street, Northampton, were both charged with three counts of rape each in connection with the offence on March 12, 2022.

“Their nine-day trial at Northampton Crown Court ended last week with both men being found unanimously guilty by the jury on all charges after eight hours of deliberation.

“Both men were remanded into custody ahead of sentencing at Northampton Crown Court on October 25, 2024,” the police disclosed.

Lawtons noted that while the average prison sentence for rape ranges from four to 19 years, varying from case to case, there is no statutory minimum sentence for the crime.

“Generally, sentencing for rape convictions starts from four years imprisonment. This sentence would only be given for category three offences and it is also very rare to receive such a short sentence, given that the majority of rape convictions also include some degree of harm or culpability.

“The maximum sentence for rape is life imprisonment. However, when using the term ‘sentenced for life’, it does not mean that someone will spend their whole life in prison. Instead, someone who is given a life sentence usually spends 15 years in prison.

“In these cases, the offenders will spend the rest of their lives on a life licence. This means they would immediately be called back to prison if they were to commit another crime,” the law firm stated on its website.

Our correspondent also learnt that the possibility of the convicted Nigerians bagging life imprisonment for the crime was possible, as mentioned on the official Rape Crisis (England & Wales) website.

“Rape is defined as someone with a penis penetrating another person’s vagina, anus, or mouth without consent and carries a maximum sentence of life in prison,” the feminist charity organisation stated.

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