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NNPCL Ends Fuel Import December 2024, Projects N4.5tn Revenue

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The Nigerian National Petroleum Company Limited (NNPCL) announced on Thursday that it would stop importing refined petroleum products by December 2024, when all of the country’s refineries would be functioning.

It also projected that the national oil company’s revenue would reach N4.5 trillion by the end of 2023, and that the rehabilitation of the Port Harcourt Refining Company, which is managed by NNPCL, would be completed by December of this year.

Mele Kyari, Group Chief Officer of the NNPCL, announced this when he led company officials to a meeting with Speaker of the House of Representatives Tajudeen Abbas, who urged for the privatization of Nigeria’s refineries.

Also, oil marketers, on Thursday, confirmed the readiness of the Port Harcourt refinery, as they stated that its operations, which could begin in January 2024, would lead to a considerable drop in the prices of refined petroleum products.

At the meeting in Abuja, Kyari declared that Nigeria was on track to stop the importation of refined petroleum products in 2024 and would emerge as a net exporter of the commodities in the same year.

He also provided explanations on the commencement of operations of the Port Harcourt, Warri, and Kaduna refineries

The company’s helmsman said all refineries would become fully operational, adding that the country would become a net exporter of petroleum products by the end of 2024.

Fuel Subsidy

He blamed the petroleum subsidy for inactive refineries in Nigeria over the years, stressing that the removal of the subsidy was already attracting a lot of private-sector investments.

Kyari stated, “I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, Kaduna refinery will come into operation.

“This is the commitment we are giving today and you can hold us accountable for this. In 2024, many of the initiatives including the rehabilitation of our refineries and also the efforts of small-scale refineries, and the upcoming Dangote refinery, will make Nigeria a net exporter of petroleum products in 2024.

“We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallise,” he said.

Kyari pledged that by the end of 2023, the expected government revenue from the company would hit N4.5tn, as NNPCL now returns value to shareholders in compliance with the Petroleum Industry Act.

Earlier report in October 2023 had it that Nigeria was spending about N843bn monthly on the importation of Premium Motor Spirit, popularly called petrol, following the halt in oil swaps by NNPCL.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority stated in July this year that between June 1 and June 28, 2023, which was described as the post-deregulation period, the total petrol consumption across the country was 1.36 billion litres, while the average daily consumption was put at 48.43 million litres.

The average ex-depot price of petrol from the only importer of the commodity, NNPCL, is about N580/litre.

But the NNPCL and oil marketers stated on Thursday that this huge oil import fund would drop soon as the Port Harcourt refinery would start producing refined petroleum products from January 2024 barring any unforeseen circumstances.

Confirming the readiness of the plant, the President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, told one of our correspondents that he visited the facility to get first-hand experience and saw that it was ready.

The Federal Government announced in August this year that the rehabilitation of the Port Harcourt refinery would be completed in December 2023.

When contacted on Thursday to tell the current stage of repairs at the facility, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, replied, “Scheduled for the end of December 2023, the Port Harcourt refinery project is proceeding as planned without any issues. The delivery date stands. The work is ongoing.”

PETROAN president

The PETROAN president said the Port Harcourt refinery was on course to begin operations, based on findings by the oil union at the facility.

Gillis-Harry said, “I can confirm to you that the refinery is getting set for production. I’ve been there and I’m still going there tomorrow (Friday) morning. One area is going to be active but I want to be there and take a photograph of the place, with me standing by it and I will send it to you.

“The Port Harcourt refinery is on course. I am working on a committee that is reviewing these issues. I won’t tell you the name of the committee because it is a secret mission. However, I can assure you that they are already set.’

“There are quite a lot of products there and it is not difficult for them to set it up and start pumping. So they should be set to produce and deliver by January, and tomorrow (Friday) if you call me in the morning I’ll be in the refinery and I’ll speak to you on video for you to know what I’m talking about.”

Gillis-Harry stated that anytime the Port Harcourt refinery kicks off, the cost of PMS would drop.

“It is simple, there are so many inputs that are going to be removed from PMS cost, such as cost of importation, ports rate, and shipping. From here, you can load products and move them to far locations in Nigeria.

“So all we need to do is just to ensure equitable distribution of what is being produced. Therefore once the refinery starts pumping out products it will save forex for the Federal Government.’’

On his part, the National Secretary of the Independent Petroleum Marketers Association of Nigeria, Chief John Kekeocha, urged the NNPCL to ensure that the Port Harcourt refinery begins operations as targeted.

“The refinery will, of course, help to augment fuel supply by addressing the crisis of fuel shortage and its high cost in Nigeria. Once it begins operations in December or January as the case may be, it will augment supply both in price and quantity.

“So if they can do that, fine. And maybe after that, they can shift to the Warri and Port Harcourt refineries. This will help a lot and we don’t want excuses this time. They must work hard to meet this target because the impact on the economy is going to be massive.’’

Meanwhile, Kekeocha explained that since crude oil was a significant component in the production of refined petroleum products, the cost of the commodity would still determine the price of products that would come from the refinery.

“When the Port Harcourt refinery begins to produce, since we are practising deregulation, if the price of crude drops, the refined products will be cheaper, but if crude oil increases in price, it will make the price of these refined products rise.

“This is because the crude oil refiners are going to buy the product based on its international rate. But the only way it will not affect us is if we are practising subsidy.’’

‘Privatise Refineries Now’

At the meeting with NNPCL officials, the Speaker of the House of Representatives called for the privatisation of oil refineries in the country to address the perennial crisis bedeviling the oil sector.

While describing the state of the refineries as shameful, Abbas added that NNPCL workers’ work hours in the last 20 years could be less than a month, yet they get paid, promoted, and cared for.

He said, “There is a need to make these refineries have multi-dimensional uses. If there is no crude oil, are there other activities that can make the workers active so that what they earn is deserved? I need you and your management to look at how we can turn around these decades of losses.

“One way to do so is to find a way to privatise these refineries. We have spent so much money and time deceiving ourselves that some businesses can be run by the government.

“In the case of the refineries, we have now realised that some sectors of NNPCL

business can only be handled by the private sector and our refineries are one of those.

“The inadequacies will become manifest as soon as the Dangote refinery comes on board because the competition will be there and inefficiencies of the refineries will become more naked.

“I want you to put it as part of your cardinal objectives ways to privatise our refineries so that they can be active. Shortly, they will be able to compete with new refineries that will come up,” he said.

Abbas said that the NNPCL is central to the economic development of Nigeria pledging the commitment of the house to supporting the company to succeed.

According to him, the House is concerned about the high rate of oil theft, saying it is draining revenue, affecting forex availability, and causing inflation in the country.

The Speaker maintained that the House had inaugurated a special committee on oil theft to interface with stakeholders to address oil theft in the country.

 

Credit: The Punch

BIG STORY

JUST IN: FG Secures 386 Convictions In Mass Trial of Terrorism Suspects

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The Federal Government on Friday said it secured 386 convictions out of 508 terrorism-related cases prosecuted at the Abuja Division of the Federal High Court.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, disclosed this to journalists at the conclusion of the ninth phase of the mass trials.

The AGF added that eight defendants were discharged, two acquitted, while 112 cases were adjourned to the next phase of proceedings.

“Well, in total, we brought about 508 cases. Of these 508, we were able to secure 386 convictions. Eight discharges, two acquittals and 112 adjourned to the next session or phase,” he said.

Fagbemi noted that the next phase of the trial had already been scheduled.

“Don’t forget that this is the ninth phase. The 10th phase will come up between the 15th and the 18th of June by God’s special grace,” he added.

The trial began on Tuesday, April 7, 2026, and ended on Friday, April 10, 2026.

The AGF had earlier disclosed that over 500 suspects would be arraigned in the exercise for various offences bordering on terrorism in contravention of the Terrorism (Prevention and Prohibition) Act.

The proceedings, which marked the ninth phase of the exercise, saw defendants arraigned before 10 judges of the Abuja Division of the Federal High Court, despite the Easter vacation which commenced on the same Tuesday.

The AGF stressed that the inclusion of discharges and acquittals underscored the government’s adherence to due process and the rule of law.

“The fact that you have discharges and acquittals speaks to the fact that we have been following due process. Anybody who is not guilty will not be sent to jail,” he said.

He added that subjecting the suspects to trial reflected respect for the judiciary’s constitutional oversight role.

“The fact that we brought them to court also speaks to the fact that they recognise the oversight function of the judiciary, and this is what has taken place,” Fagbemi stated.

Expressing satisfaction with the exercise, the minister said the trials were conducted transparently, with the participation of key stakeholders, including representatives of the United Nations Office on Drugs and Crime and members of the media.

“I’m satisfied, and that’s why it’s taking place in the full glare of the public. All the representatives of critical stakeholders are here. We have people from the UNODC, you, the press, you are here, and you can speak to how the proceedings were conducted,” he said.

Fagbemi maintained that the sentences handed down by the court were meant to serve as a deterrent to terrorism and its financing.

“The type of punishment that the judges dished out is to send a clear signal to people involved in terrorism and terrorism-financing that there is no space for them here in Nigeria,” he said.

He added, “We cannot stop them from going elsewhere. But as far as the Nigerian space is concerned, there is no space. We will not be able to accommodate them. We have been able to bring them to justice.”

The AGF also commended the leadership of the court, particularly the Chief Judge, John Tsoho, and the head of the 10-member trial team, Binta Nyako, for their commitment.

“I also want to seize this opportunity once again to thank the Federal High Court under the able leadership of the Chief Judge and the leader of the 10-member team. They have done very well, and we are grateful to them for their patriotism,” he said.

He noted that the judges demonstrated exceptional dedication by sitting during a period ordinarily reserved for rest.

“These are not normal times. They are supposed to use this week, in particular, to be at home resting if they cannot travel. But they have shown great patriotism in answering the clarion call,” Fagbemi said.

He equally appreciated the media for its role in covering the proceedings and informing the public.

The minister added that, beyond sentencing, courts also ordered rehabilitation and de-radicalisation for convicted persons as part of efforts to reform offenders.

“And part of the consequential order made by judges after the sentencing is that they should go for rehabilitation and de-radicalisation,” he said.

According to him, the approach reflects the government’s broader objective of ensuring that punishment also facilitates reformation and reintegration.

“This speaks to the effort of government to ensure that the purpose of punishment is also to make offenders turn a new leaf and jettison terrorism,” Fagbemi added.

 

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BIG STORY

Oba Elegushi: Celebrating The Modern Monarch At 50 —– Temitope Oyefeso

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If true leadership is about service, sacrifice, empathy, and a commitment to the well-being of others while seeking the common good, one man who has exemplified these qualities over the years is the traditional ruler of Ikate-Elegushi land, Oba Saheed Ademola Elegushi, Kusenla, the third.

This is one traditional ruler who listens and cares deeply about the aspirations and concerns of subjects. KSE, as he is also popularly known, operates an open-door policy and is always willing to engage with the community, fostering a sense of belonging and trust – qualities that bolster the fabric of unity and loyalty among his people. Just as his leadership has been a guiding light, illuminating hope and resilience during challenging times, KSE’s ability to navigate complex societal challenges with fortitude and foresight is one for the books.

Cosmopolitan and cerebral, what has always stood out about Kabiyesi is the seamless way he has blurred the line between modernity and tradition. Perhaps because of his early intimations with royalty through the influence of his late father, Oba Yekini Adeniyi Elegushi, the 20th Oba Elegushi of Ikateland, who reigned from 1991 to 2009, KSE is deeply rooted in the traditions that formed him, yet primed and poised to shape the dynamics of the future.

As a custodian of tradition, Oba Elegushi honours the rich cultural heritage of his progenitors. His vision for progress combines with deep respect for tradition and creates legacies that will undoubtedly stand the test of time. In him, one sees a king who understands that royalty is not defined by the crown alone, but by service, vision, compassion, and the quiet powers to shape lives and transform communities.

This commitment to the future informed his decision to celebrate his 50th birthday by committing funds toward intervention projects in public schools in Ikate kingdom. A similar gesture was when he celebrated his 15th anniversary on the throne last year, where over N200 million was distributed to young entrepreneurs from within and outside the Ikate-Elegushi kingdom.

Kabiyesi continues to invest in people, recognising that the most enduring infrastructure any leader can build is human. Through his support for education and youth empowerment, KSE ensures that development in Ikate-Elegushi is not merely visible on the skyline but felt in the lives of everyday people.

Today, as he celebrates the golden jubilee of his noble birth, we also celebrate his personal virtues – integrity, wisdom, and unwavering faith in humanity. Indeed, what emerges from any honest reflection on Oba Elegushi’s five decades is a portrait shaped by integrity held firm, wisdom applied with purpose, and a faith that has remained his compass through every season.

At 50, his legacy is not only in what he has built, but also in what others are becoming because they have watched him, learned from him, and risen through the force of his example.

Kabiyesi, as you mark another year of life, we pray that the Almighty blesses you more abundantly. May He grant you good health, long life, more wisdom, and strength to continue your noble work.

We are confident that under your stewardship, Ikateland will flourish even more and remain rooted in the values of peace, unity, and progress.

Happy birthday, Your Majesty.

Temitope Oyefeso is Special Assistant on Public Affairs to Oba Elegushi

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BIG STORY

FG Warns of Possible Flooding in Ogun, Delta, 8 Other States

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The Federal Government has warned that several locations across 10 states may experience heavy rainfall, potentially leading to flooding, between April 8 and April 12, 2026.

The warning was issued by the National Flood Early Warning Centre of the Federal Ministry of Environment in a flood prediction notice dated April 8, 2026, and signed by the Director of the Erosion, Flood and Coastal Zone Management Department, Usman Bokani.

“The following locations and their environs are likely to witness heavy rainfall that may lead to flooding within the period of prediction: 8th April – 12th April, 2026,” the notice stated.

According to the ministry, communities in Ebonyi, Anambra, Ogun, Taraba, Cross River, Benue, Imo, Delta, Rivers, and Abia states are among the areas likely to witness heavy rainfall that may trigger flooding during the period.

The ministry stated that in Ebonyi State, Afikpo and Nkalagu may be affected, while in Anambra State, Atani, Iyowa Odekpe, Odekpe, and Onitsha were listed.

It also identified Ayetoro and Ilaro in Ogun State; Donga, Kwata Kanawa, Lau, Serti, Takum, and Yorro in Taraba State; as well as Edor, Ikom, and Itigidi in Cross River State.

Other locations include Igumale in Benue State; Nworievbi, Okigwe, Otoko, and Owerri in Imo State; Oko Anara in Delta State; Port Harcourt in Rivers State; and Umuahia in Abia State.

The ministry noted that the listed locations and their surrounding areas were likely to witness heavy rainfall that “may lead to flooding” within the prediction period.

 

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