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Port Harcourt Refinery Will Produce 12 Million Liters Of Petrol Daily, To Begin Operation This Month — Marketers

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that the Port Harcourt refinery is progressing towards meeting its scheduled August deadline for commencing petroleum production.

In a statement made during an interview with Channels TV on Thursday, Zarma Mustapha, IPMAN’s National Operations Controller, revealed that the refinery is expected to supply approximately 10-12 million liters of petrol to marketers.

This development is anticipated to enhance the national supply of petroleum products to a daily range of 11-15 million liters, thereby ensuring widespread energy availability.

Furthermore, Mustapha noted that the refinery will operate autonomously, selling products at prevailing market rates with minimal government intervention.

“There is this understanding that the Port Harcourt refinery is going to perform independently and sell at whatever prevailing market price for them to recover their cost.

“It is not going to be run like a government entity as it has been before. I believe that the refinery coming up, will really boost the demand and supply of PMS to nothing less than 11 to 15 million litres daily.

“I am confident and optimistic that this August deadline is going to be a realistic deadline. It will come on stream and fully produce all the necessary components that the refinery is supposed to produce. At least, at its capacity of 0,000 barrels, can give you 10 to 12 million litres of PMS,” he said.

Commenting on whether the refinery will help reduce the price of petrol in the country, Mustapha said that might be the case if the operators decide to sell at a subsided rate.

He, however, explained that the refinery has to recover its cost of operation, particularly the $1.5 billion loan it obtained from a creditor for its maintenance in 2021.

Accordingly, the spokesperson of the marketer said since the operators are also buying crude at an international price, they will have to recover their cost also.

“It depends on how much they are willing to sell. How much did they get the crude? Because they’re buying the crude at an international price too.  They have to pay back the loan they took also.

“The $1.5 billion is a loan they took from one of these African financial institutions. I don’t know which one among them. They took the loan with the promise of paying back with whatever recoup from the earnings of the refinery,” he added.

BIG STORY

Those Who Collected Money For Alaafin Stool Will Be Prosecuted — Governor Makinde

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Seyi Makinde, the governor of Oyo State, has stated that individuals who received bribes during the selection of the Alaafin of Oyo designate will be prosecuted.

Makinde made this remark on Monday while presenting the staff of office to Abimbola Owoade, the new Alaafin of Oyo, at the Oyo State Government House in Ibadan.

Despite opposition from a five-member faction of the Oyomesi (kingmakers), who preferred Lukman Gbadegesin, Makinde announced Owoade as the Alaafin-designate on Friday.

In July 2024, two members of the Oyomesi informed the Economic and Financial Crimes Commission (EFCC) that Gbadegesin had offered each of the five kingmakers N15 million during the selection process.

While handing over the instruments of office to the monarch, Makinde reiterated that the Alaafin stool would not be for sale during his tenure.

He further emphasized that those who attempted to destabilize the traditional institution in the state would be prosecuted.

“The government is not letting down. We will prosecute them. The money they collected, they will still be prosecuted,” the governor stated.

“Except they go to Kabiyesi and apologise; if he forgives them, then I will also forgive them.”

The governor also clarified that there were no political motives behind his approval of Owoade as Alaafin.

He mentioned that he had neither spoken with Owoade nor met him or any of the other princes competing for the throne.

This approach, he said, allowed him to remain objective in his decision-making.

“Some people said maybe it was political consideration. No. Politics, electioneering is a game,” he stated.

“It’s only when you have been elected that governance becomes a serious business because you will take decisions that will affect millions of people. So, we will not play politics with governance.”

Makinde further explained that in 2019, his administration faced challenges with the traditional institution in Ibadanland, which have since been resolved to everyone’s satisfaction.

Regarding the Alaafin stool vacancy in 2022, he mentioned, “We were moving towards the election, and people said, ‘you have to approve the appointment of Alaafin; otherwise, Oyo people would not vote for you.’”

He added, “I said, ‘the people should not vote for me, but that I would do what was right,’ and Oyo voted for me massively. And Oyo will still continue to vote for me.”

The governor confirmed that the coronation would take place in four weeks, adding, “on that day, I’ll talk.”

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BIG STORY

UPDATE: Why We Sacked Obasa, Replaced Him — Lagos Lawmakers [VIDEO]

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Lawmakers in the Lagos State House of Assembly have revealed why they sacked Mudashiru Obasa as their Speaker on Monday.

The lawmakers spoke after the plenary on Monday during which they also elected Hon. Mojisola Meranda as Obasa’s replacement.

The representative of Epe 1 Constituency, Abiodun Tobun, who spoke on behalf of his colleagues, said: “The Lagos State House of Assembly declared its decision to impeach Speaker Mudashiru Obasa.

“The impeachment was a unanimous decision by the lawmakers.

“The lawmakers agreed to take this step to safeguard our image and Lagos State.

“Change is inevitable, and we felt it was time for a new direction.

“All standing committees and principal office positions have been dissolved.

“We are determined to work together to elevate the Assembly and deliver on our responsibilities to Lagosians.”

Tobun then went on to explain in detail the reason for their decision.

 

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BIG STORY

Court Nullifies ‘Wike-Backed’ PDP Congresses In Rivers

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The Rivers High Court has nullified the congresses conducted by the Peoples Democratic Party (PDP) in the state in 2024.

The court also restrained the state executive committee of the PDP from overseeing the affairs of the party and barred Aaron Chukwuemeka from parading himself as the chairman.

Stephen Jumbo, the presiding judge, gave the order on Monday while ruling on an interlocutory injunction filed by Edwin Woko and Love Otuonye (both lawyers) and two other PDP members. The suit was instituted against Chukwuemeka and nine others.

The petitioners asked the court to declare the local government and ward congresses of the party held in 2024 as null and void.

The congresses, conducted in the 319 wards and 23 LGAs in August 2024, were backed by Nyesom Wike, minister of the federal capital territory (FCT).

The applicants argued that the congresses were conducted in disregard of an order issued by the court in July 2024, which restrained the PDP and the Independent National Electoral Commission (INEC) from holding the congresses.

The claimants urged the court to set aside the congresses and restrain Chukwuemeka and members of the state executive committee from acting, representing, or parading themselves as officials of the party in the state.

They also asked the court to declare themselves (the petitioners) as the authentic and subsisting members of the PDP state executive committee and direct the party’s national leadership to recognize and deal with them accordingly.

The judge upheld the applicants’ prayers, nullifying the congresses and restraining Chukwuemeka and other respondents from acting as executives of the party in the state.

The court also recognized the applicants as the authentic and subsisting members of the Rivers State executive committee of the PDP.

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