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We’re Ready For Forensic Audit Of Petrol Supply, NNPC Replies Customs

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The Nigerian National Petroleum Company Limited (NNPC) says it is ready for a forensic audit of its petrol supply and subsidy management framework.

Garba Deen Muhammad, group general manager, public affairs division, NNPC, said this in a statement on Saturday.

The Nigerian Customs Service (NCS) had refuted claims by the NNPC Limited that citizens consume about 60 million liters of petrol daily.

It further alleged that the oil company was supplying an excess of 38 million liters of petrol daily since “98 million liters” were lifted daily from the depots.

“If I am operating a fuel station today and I go to Minna depot, lift petrol and take it to Kaduna, I may get to Kaduna in the evening and offload that fuel. There is no way I would have sold off that petrol immediately to warrant another load,” Hammed Ali, comptroller-general of Customs, had said.

“So, how did you get to 60 million liters per day? That is my question. The issue of smuggling, if you release 98 million liters in actual and 60 million liters are used, the balance should be 38 million liters. How many trucks will carry 38 million liters every day? Which road are they following and where are they carrying this thing to?”

Responding to this in the statement, NNPC said between January and August 2022, the total volume of premium motor spirit (PMS), better known as petrol, imported into the country was 16.46 billion liters.

According to the company, the figure represents an average supply of 68 million liters per day.

“Similarly, import in the year 2021 was 22.35 billion liters, which translated to an average supply of 61 million liters per day,” the statement reads.

“The NNPC Ltd notes that the average daily evacuation (depot truck out) from January to August 2022 stands at 67 million liters per day as reported by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

“Daily evacuation (depot load outs) records of the NMDPRA do carry daily oscillation ranging from as low as four million liters to as high as 100 million liters per day.

“The NNPC also wishes to point out that rising crude oil prices and PMS supply costs above PPPRA (now NMDPRA) cap had forced oil marketing companies’ (OMCs) withdrawal from PMS import since the fourth quarter of 2017.

“In the light of these challenges, NNPC has remained the supplier of last resort and continues to transparently report the monthly PMS cost under-recoveries to the relevant authorities.

“NNPC Limited also notes that the average Q2, 2022 international market-determined landing cost was US$1,283/MT and the approved marketing and distribution cost of N46/liter.

“The combination of these cost elements translates to a retail pump price of N462/liter and an average subsidy of N297/liter and an annual estimate of N65 trillion on the assumption of 60 million liters daily PMS supply.

“This will continuously be adjusted by market and demand realities.

“NNPC Ltd shall continue to ensure compliance with the existing governance framework that requires the participation of relevant government agencies in all PMS discharge operations, including Nigerian Ports Authority, Nigerian Midstream, and Downstream Petroleum Regulatory Authority, Nigerian navy, Nigeria Customs Service, NIMASA, and all others.”

The national oil company, however, said it recognized the impact of maritime and cross-border smuggling of petrol on the overall supply framework.

It also acknowledged the possibilities of other criminal activities in the PMS supply and distribution value chain.

“As a responsible business entity, NNPC will continue to engage and work with relevant agencies of the government to curtail smuggling of PMS and contain any other criminal activities,” the statement adds.

“We will continue to deliver on our mandate to ensure energy security for our country with integrity and transparency.

“We invite any forensic audit of the PMS supply and subsidy management framework of the NNPC.”

BIG STORY

DSS Arrests Blogger For Cloning Its Website, Posting Fake Recruitment Notice

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Operatives of the Department of State Services (DSS) have arrested the man responsible for cloning its website and posting a false recruitment notice.

It was gathered that 32-year-old Sylvester Victor Augustus, a native of Abak Local Government Area in Akwa-Ibom State, was apprehended on Thursday at his residence on Akpan Eno Lane in Abak, Abak LGA.

Augustus, who claimed to be a graduate of the University of Uyo (UNIUYO) and worked as a blogger and content creator, had created a fake online recruitment notice on the cloned DSS website, likely intending to defraud unsuspecting members of the public.

The DSS has labeled the notice “fake” and urged the public to avoid falling victim to such fraudulent schemes. Augustus is expected to be arraigned in court soon.

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Nigeria, China Plan Collaboration On Military Training, Arms Production

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The Federal Government has announced a deepening of its security partnership with the People’s Republic of China, focusing on local arms production and military training as part of a broader strategy to address terrorism and insecurity.

Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, disclosed this during a briefing at the State House after President Bola Tinubu met with China’s Foreign Minister, Wang Yi, at the Aso Rock Villa in Abuja.

Wang Yi is on a week-long tour of Africa, visiting Namibia, DR Congo, Nigeria, and Chad.

Tuggar emphasized that closer cooperation with China would help Nigeria and neighboring countries address common security threats. He noted that the goal was to domesticate the production of military equipment to avoid delays and complex regulations involved in international procurement.

The move follows comments by Nigeria’s Chief of Defence Staff, General Christopher Musa, who highlighted arms procurement as a significant bottleneck, particularly in getting timely supplies for frontline troops.

Tuggar also rejected the idea of relying on private military companies to tackle Nigeria’s security challenges, stressing Nigeria’s leadership role in West Africa’s security, especially in the Sahel region.

China’s Foreign Minister, Wang Yi, affirmed Beijing’s commitment to supporting Africa’s security, announcing a CN¥1bn military assistance package. This includes training 6,000 military personnel and 1,000 law enforcement officers across various African nations, as well as supporting the African Standby Force and rapid response forces.

China also pledged to continue backing peacekeeping operations and counterterrorism initiatives in Africa, stressing that African nations should lead their own peace and security efforts without external interference.

Wang Yi also addressed Nigeria’s request to expand the bilateral currency swap agreement, which is currently valued at $2bn. President Tinubu urged China to increase this swap to facilitate trade between the two countries. The agreement, initially signed in 2018, aims to stabilize Nigeria’s foreign reserves and reduce reliance on the US dollar.

Additionally, Tinubu pushed for an upward revision of China’s $50bn aid package for Africa, highlighting the continent’s significant infrastructural needs. He also called for China’s support for Nigeria’s bid for a permanent seat on the UN Security Council.

Wang Yi expressed China’s full support for Nigeria’s potential membership in BRICS and reaffirmed China’s commitment to contributing to the development of Africa, particularly through infrastructure projects such as railway modernization. He also welcomed Nigeria’s participation in issuing Panda bonds in China’s financial markets to further enhance economic cooperation.

Wang highlighted that China would continue to support Africa’s legitimate rights at the United Nations and back initiatives that promote long-term stability and security on the continent.

The visit follows the elevation of China-Nigeria relations to a comprehensive strategic partnership, aimed at enhancing cooperation in trade, agriculture, finance, and mutual prosperity.

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Police Detain Officer In Viral Video Of Okoya’s Sons ‘Abusing Naira’

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The Nigerian Police Force (NPF) has announced the detention of an officer who appeared in a viral video allegedly engaging in the abuse of the naira alongside the sons of Razaq Okoya, the billionaire industrialist.

The officer was seen holding wads of naira notes as Subomi ‘Sirheem’ Okoya, an up-and-coming musician, and his brother Wahab, danced to a tune.

The video was described as a promotional clip for Sirheem’s new song.

The clip has raised concerns about ongoing cases of naira abuse and the involvement of police officers in private ventures.

In 2024, the Economic and Financial Crimes Commission (EFCC) intensified its efforts to address naira abuse by celebrities, referencing Section 21 of the Central Bank of Nigeria (CBN) Act.

On April 4, Bobrisky, the social media personality, was arrested by the commission in Lagos for defacing naira notes.

The crossdresser was arraigned on a six-count charge by the EFCC.

On April 16, the EFCC filed a three-count charge against Cubana Chief Priest, the socialite and social media influencer, over alleged naira abuse.

  • ‘IT’S UNETHICAL’

In a statement on Friday, Muyiwa Adejobi, the police spokesperson, said the officer seen in the video with the Okoyas has been detained.

He said the officer’s actions were unethical, adding that he would face disciplinary action.

“The policeman captured in the recent viral video shared by the sons of the Lagos businessman, Chief Okoya, where they were abusing the naira, has been identified and detained for disciplinary action,” Adejobi wrote on X.

“The involvement of the policeman has been condemned, as it’s unethical. We will always strive hard to uphold the sanctity, credibility, and core values of the police.”

In his reaction, Subomi ‘Sirheem’ Okoya apologised to the police, adding that his actions were naive and unintentional.

“To the Nigerian people, my actions were not to cause any trouble or harm. My intentions were pure and naive,” he wrote on X.

“I ask for your forgiveness and support in this situation as I had no intention to raise such an alarm. I wasn’t fully aware of the consequences of my action.”

  • WHAT THE CBN ACT SAYS

Section 21 of the act states: “(1) A person who tampers with a coin or note issued by the Bank is guilty of an offence and shall on conviction be liable to imprisonment for a term not less than six months or to a fine not less than N50,000 or to both such fine and imprisonment.

“(2) A coin or note shall be deemed to have been tampered with if the coin or note has been impaired, diminished or lightened otherwise than by fair wear and tear or has been defaced by stumping, engraving, mutilating, piercing, stapling, writing, tearing, soiling, squeezing or any other form of deliberate and wilful abuse whether the coin or note has or has not been thereby diminished or lightened.

“(3) For the avoidance of doubt, spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section.

“(4) It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.”

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