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Why Oil Marketers Can’t Buy Petrol From Dangote — NNPCL

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The Nigerian National Petroleum Company Limited has explained why marketers may have difficulty obtaining petrol from the Dangote Refinery and Petrochemical Company or importing it themselves.

The Executive Vice-President, Downstream, at the NNPC, Adedapo Segun, provided the explanation during an interview with journalists.

During the discussion in Abuja, Segun stated that while the Nigerian Midstream and Downstream Petroleum Regulatory Authority has been approving import permits, it is not financially advantageous for marketers to import petrol or purchase it from the Dangote refinery.

He said: “When the marketers go to NNPC to get the permit or licence to get the import, typically they will say they want to import x amount of automotive gas oil (AGO), aviation turbine kerosene (ATK), and some of them actually include petroleum motor spirit (PMS).

“They then go to market, check the market indices and say to themselves: PMS is still being sold below cost, if I bring it in, I’ll make a loss.

“Now they have approval to bring in ATK, AGO, and PMS, but they end up bringing only AGO and ATK.

“They do not bring in that PMS because the market is still not right for them.

“So, it is not because NNPC wants to be the sole importer or provider of PMS.

“It is because the other marketers won’t do it if it’s not profitable.”

BIG STORY

Stella Visited Vatican City To Secure My Release From Prison — Former President Obasanjo

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Former President Olusegun Obasanjo has shared the significant role his late wife, Stella Obasanjo, played in securing his release from prison.

In 1995, Obasanjo was arrested and convicted by the military regime of the late Sani Abacha for his alleged involvement in a planned coup.

After four years of detention, Obasanjo was released in 1998 by Abdulsalami Abubakar, following Abacha’s death.

During his imprisonment, Stella was a strong advocate, relentlessly demanding her husband’s release.

She tragically passed away on October 23, 2005, during a liposuction surgery.

Speaking on Friday at the inauguration of the 250-bed Stella Obasanjo Hospital in Benin, the Edo state capital, the former president recounted how his late wife traveled to the Vatican City and other parts of the world to secure his freedom.

“My late wife went everywhere to ensure that I came out of prison alive. She was in Vatican City, France, and other parts of the world,” Obasanjo said.

“We were planning for her 68th birthday anniversary but never had it before she died. It was very painful for me in particular and for all of us in my family.

“So you can appreciate how thankful I am to you for doing this in her honour.”

He expressed gratitude to the Edo state government for recognizing his late wife, “who made tremendous contributions to my achievements in public life.”

Obasanjo also praised Governor Godwin Obaseki for “starting and finishing well.”

“I have worked in the past with the likes of John Oyegun; he was a fantastic permanent secretary. I reminded him recently of some of the things that he practised on me and the ones I practised on him,” Obasanjo added.

“With this hospital, you’re assured of first-class treatment for any ailment. More grace to the elbows of the governor. With this kind of edifice, I can say that the governor started well and is finishing well.”

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BIG STORY

Court Remands Woman For Allegedly Stabbing Husband To Death In Ibadan

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An Iyaganku Chief Magistrates’ Court yesterday ordered the remand of a housewife, Olajumoke Olalere, 33, at Agodi Correctional facility, Ibadan, for allegedly stabbing her husband to death.

The Chief Magistrate, Mrs Olabisi Ogunkanmi, who did not take the defendant’s plea for lack of jurisdiction, ordered her remand pending the legal advice from the Directorate of Public Prosecution (DPP).

She, thereafter, adjourned the case until March 5, 2025 for mention.

According to The News Agency of Nigeria (NAN), the police charged Olalere with a count of murder.

The prosecutor, Cpl. Akeem Akinloye, had told the court that the defendant on October 30, at 9.00 p.m. allegedly caused the death of her 39-year-old husband, Oluwasegun Tinubu.

Akinloye said the defendant allegedly stabbed her husband with a knife during a disagreement at their house, at Zone 5, Gbelu, Iyana – Agbala, Ibadan.

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BIG STORY

UPDATE: EFCC Grants Former Delta Governor Okowa Bail Over Alleged N1.3trn Fraud

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The Port Harcourt zonal command of the Economic and Financial Crimes Commission (EFCC) has granted administrative bail to Dr. Ifeanyi Okowa, a former governor of Delta State, over allegations of diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023.

Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, after reporting to the Port Harcourt Directorate of the EFCC at the invitation of investigators handling his case.

Sources confirmed that the former governor left the EFCC facility around 9 pm on Wednesday night.

A source under anonymity stated: “He left the facility at about 9 pm yesterday (Wednesday).”

“Okowa is expected to return soon to provide documents and answer more questions before the matter will be charged to court.”

The former governor is accused of failing to account for the 13% derivation funds, as well as an additional N40 billion, which he allegedly claimed to have used to acquire shares in UTM Floating Liquefied Natural Gas (LNG).

Specifically, Okowa is said to have purchased N40 billion worth of shares in one of the country’s major banks, representing an 8% equity stake in the offshore LNG venture.

The funds are also alleged to have been diverted for other purposes, including acquiring properties in Abuja and Asaba, Delta State.

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