Tag: Petroleum

  • Independent petroleum producers, others set agenda for Tinubu incoming govt

    Independent petroleum producers, others set agenda for Tinubu incoming govt

    The Independent Petroleum Producers Group (IPPG) has called on the incoming administration of Sen. Bola Tinubu to address the bottlenecks mitigating against industry growth and energy security.

    The IPPG Chairman, Mr. Abdulrazaq Isa, made the call on Monday in Abuja at the sixth edition of the Nigeria International Energy Summit (NIES).

    Isa said the administration’s agenda for the industry should be geared toward improving investor confidence through the effective implementation of the Petroleum Industry Act (PIA) and strengthening regulatory institutions.

    He said the incoming administration should arrest the menace of crude theft across the Niger Delta which still lingered in spite of the recent successes recorded by the Federal Government.

    Isa listed others as harnessing the nation’s hydrocarbon asset, particularly gas, to catalyse and rapidly industrialise the economy, building a broader value-creating midstream (gas processing plants) and downstream (refineries) and transforming Nigeria into a product supplier.

    He emphasised the need to eliminate industry-wide subsidies for all hydrocarbon and refined products as they remain detrimental to the growth of a vibrant industry.

    Isa also called for an immediate repositioning of the industry.

    “The Nigerian oil and gas industry has a very limited window to get things right and must work toward the rapid exploitation of its vast hydrocarbon assets for the socio-economic transformation and deploying same to guarantee our energy security.

    “It is instructive to note that this edition of the NIES will be the last of this current administration.

    “It is on that note and on behalf of the Board of Trustees and the Governing Council of the IPPG I commend President Muhammadu Buhari, for his unwavering commitment to the survival and growth of our industry.

    “Under his leadership, his administration has delivered unprecedented milestones across the entire industry, notably, the enactment PIA in 2021 which has boosted investor confidence after a two-decade lull in activities.

    “This landmark legislation has begun the transformation of Nigeria’s oil and gas industry and laid a solid foundation for the growth and development of the industry for future generations,’’ he said.

    Also speaking, Dr Omar Farouk, the Secretary-General, African Petroleum Producers’ Organisation (APPO), called for enabling environment for African energy security.

    Farouk listed challenges in the African energy industry as lack of funding, technology and reliance on foreign markets.

    He said for seven decades that Africa had been producing petroleum; it had relied essentially on external finance and always depended on foreign technology and to some extent expertise to produce the products.

    Farouk said that these three challenges had been the focus of APPO in the last three years and it had concluded that the future of the industry lied on the hands of Africans.

    “For the funding of the oil and gas projects across the continent, we have gone into partnership with the African Export-Import Bank to establish Africa Energy Bank with objective of financing oil and gas projects in the continent.

    “For technology and expertise, the APPO secretariat has just concluded a tour of institutions of oil and gas training in some of our member countries for centres of excellence in petroleum industry.

    “We want to banish the mindset that our people are too poor to buy energy and empower people to have access to energy,’’ he said.

    The event also featured remarks by the Secretary-General of Gas Exporting Countries Forum, Mohamed Hamel, and Chairman, Oil Producing Trade Section, Mr Rick Kennedy, among others.

    The summit, scheduled to hold from April 16 to April 20, has its theme as “Global Perspectives for a Sustainable Energy Future“

  • Petrol now massively distributed, to sell at N184 – Sylva

    Petrol now massively distributed, to sell at N184 – Sylva

    Minister of State for Petroleum Resources, Mr Timipre Sylva, has assured the people of the country that the FG has taken a big step to nip in the bud the ravaging fuel crisis in the country.

    Mr Sylva assures that there will be a massive distribution of the product as from now.

    Mr Sylva made this known after his tour of some selected petroleum dispensing outlets in Lagos on Friday

    He said that he came on the directive of President Muhammadu Buhari, to assess the situation of things with regard to distribution and adherence to price regulation.

    The minister said that an inter-ministerial intervention, initiated by the government, has set out to ensure proper management of petrol distribution across the country.

    He reassured that with the current steps, all hiccups leading to the current situation was been addressed.

    According to him, the situation is pleasant because he observed availability of products in the state.

    “Fuel is everywhere, both in Lagos and Abuja.

    “I visited many stations in Ikeja and on the mainland. From every indications, there are products everywhere and I want to assure you that the queues will disappear in a matter of days”, he said.

    The minister said the situation, witnessed in Lagos, had been achieved in 15 states across the country, adding that the President had ordered that queues must be cleared, immediately.

    On arbitrary price hike by some marketers, he said that he had directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to upscale its regulatory activities and ensure marketers abide by current price regime.

    He said that the Nigerian National Petroleum Company Ltd., (NNPCL), retail outlets were selling at N184 per liter and over 900 outlets operated by the company were selling at same price.

    “And that is the official price everybody is expected to sell, but l admitted there are sharp practices still ongoing.

    Explaining how the situation degenerated into the crises point, Sylva said that government did not see it coming.

    According to him, sabotage plays a key role in the sector as those who do not mean well for the country take advantage of the upcoming elections, to create panic by engaging in market disruptions.

  • NUPRC announces Nigeria Mini Bid Round 2022

    NUPRC announces Nigeria Mini Bid Round 2022

     

    The Nigeria, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the Mini Bid Round 2022.

    TheNewsGuru.com, (TNG) reports this was contained in a statement issued and signed by the commission’s Chief Executive Officer, CEO Engr. Gbenga Komolafe, stating that:

    “The Mini Bid Round is an opportunity to spur new exploration and drilling activities in the prospective deep waters offshore Nigeria.

    “The Mini Bid Round is the first in a series of bid rounds, aimed at further development of this prospective petroleum basin will be held in accordance with the Petroleum Industry Act 2021 (PIA), with its enhanced legal and regulatory frameworks that seeks to encourage new investors and investments into the next phase of exploration in this region.

    “The Mini Bid Round will be managed by the NUPRC, in line with the provisions of the PIA, as the statutory body responsible for ensuring compliance with petroleum laws regulations, and guidelines in the Nigerian upstream petroleum industry.

    “The National Data Repository (NDR) of NUPRC and our multi-client partners are delighted and ready to support the Mini Bid Round underpinned by high-quality datasets. The blocks have extensive 2D and 3D seismic data coverage, including multi-beam and analog data.

    ” Additionally, a remarkable quality, 3D MegaSurveyPlus reprocessed Pre-stack Time Migration (completed October 2022), with angle stacks and gathers is also available to prospective bidders. Links to all data can be accessed via the dedicated NUPRC portal.

    “The Mini Bid Round is a market-driven programme and will follow a transparent and competitive procurement process designed to attract competent third-party investors from across the world that have the capability and proficiency in operating in deep-water environment.

    “Historically, this Mini Bid Round intends to build on the successes of the last bid round that held in April 2007 during which a total of forty-five (45) blocks, drawn from the inland Basins of Anambra, Benue and Chad; the Niger Delta Continental Shelf; Onshore Niger Delta and Deep Offshore were put on offer.

    “The 2007 bid round was held under a different regulatory regime (the Petroleum Act, 1969) and generated massive interest and participation with its attended revenue which made the exercise a success.

    “In this year Mini Bid Round, seven (7) Offshore blocks covering an area of approximately 6,700 km2 in water depths of 1,150m to 3,100m is put on offer.

    “The success of the Mini Bid Round will ensure all stakeholders gain value from the country’s resources, whilst paying close attention to reduction in carbon emissions, as well as overall environmental, social and governance (ESG) considerations.

    “A dedicated programme portal (br.nuprc.gov.ng) for the Mini Bid Round has been published by NUPRC, which provides details of the bid round process, including the registration and prequalification requirements, and detailed guidelines for applicants.

    “A pre-bid conference is scheduled for 16th Jan 2023, to provide potential applicants with an opportunity to ask questions they may have concerning the Mini Bid Round process and requirements, after which interested companies will be invited to submit their pre-qualification applications by 31st Jan 2023. NUPRC will continue to provide further details and roadmap for this international competitive Mini Bid Round in due course.

    “It is a great privilege to announce the Mini Bid Round 2022 and we look forward to the success of the upcoming events and activities.

  • Nigerian troops recover N2billion worth of stolen petroleum products in 14days

    Nigerian troops recover N2billion worth of stolen petroleum products in 14days

     

    Troops of operation DAKATAR DA BARAWO have recovered over two billion naira from stolen petroleum products in Southern Nigeria within two weeks.

    The Director of Defence Media Operations, Major General Musa Danmadami disclosed this during the Bi-weekly briefing in Abuja, Nigeria’s capital saying that the briefing covered the period from 20th October to 3rd November, 2022.

    General Danmadami said that “troops in the sustained fight against oil theft and maritime illegalities also discovered and destroyed 11 illegal refineries and 107 metal storage tanks, 5 wooden boats, 58 dugout pits, 38 ovens, 6 fibre boats, 28 reservoirs, 15 jerrycans, 2 pumping machines, 20,000 barrels of crude oil and 167,900 litres of Automotive Gas Oil”.

    Cumulatively, within the weeks under review, oil thieves were denied a total of 54,547 barrels of crude oil, 817, 900 litres of Automotive Gas Oil, 5,000 litres of Premium Motor Spirit and 10,000 litres of Dual Purpose Kerosine amounting to the sum of Two Billion, Four Hundred and Thirty-Five Million, Twenty-One Thousand, Three Hundred Forty-Three Naira and Ninety-Four Kobo (N2,435,021,343.94)

    In a related development, troops of the Joint Task Force, Operation DELTA SAFE sustained pressure towards denying criminal elements freedom of action, essential to sustain a conducive environment for economic activities to thrive while ensuring relative peaceful environment and protection of oil and gas infrastructure in the general area all in the Southern part of the country.

    According to him, the maritime and land component of Operation DELTA SAFE in the conduct of operation OCTOPUS GRIP, conducted operational activities at creeks, waterways, communities, villages, towns and cities within Delta, Bayelsa, Cross River and Rivers States between 20 October – 2 November 2022.

    He said“during the operations, troops discovered and destroyed 57 illegal refining sites, 35 wooden boats, 304 storage tanks, 172 cooking ovens, 12 dugout pits, 5 drums, 2 reservoirs, 2 illegal bunkering camp and 6 illegal bunkering boats”.

    He added that troops also recovered 34,547barrels of crude oil, 650,000 litres of Automotive Gas Oil, 5,000 litres of Premium Motor Spirit, 10,000 litres of Dual Purpose Kerosine, 7 pumping machines, 7 vehicles, 5 motorcycles, 1 double barrel gun, 2 live cartridges and arrested 5 pipeline vandals.

    General Danmadami noted that troops in conjunction with operatives of the office of the National Security Adviser (ONSA) tracked and raided the criminals location and arrested 2 Eastern Security Network criminals kingpins at Oyigbo in Oyigbo Local Government Area of Rivers State.

    He said “troops recovered 2 Ak47 rifles, 285 rounds of 7.62mm special, 84 rounds 7.62mm NATO, 1 empty magazine, 2 mobile phones, 3 sim packs, a file containing documents, 3 ATM cards, NIN certificate, voters’ cards and charms.

    According to him, in a continuous effort to eliminate criminal elements in the South Eastern part of the Country, troops and other security agencies have not relented on their constitutional mandate in tackling insecurity in the state.

    Notably, on 20 October 2022, troops while on duty at Isuofia in Aguata Local Government Area of Anambra State were attacked by suspected Indigenous People of Biafra/Eastern Security Network criminals.

    He said the troops however, repelled the attack and arrested 1 of the criminals, recovered 2 pistols and 4 rounds of 9mm ammo.

    Also on the same day, following a tip-off, troops arrested a known armed robber at Ibagwa community in Igbo-Eze Local Government Area of Enugu State.

    He said troops recovered 1 locally made revolver pistol, 2 mobile phones and 1 motorcycle. Suspect is in troops custody for further action.

    Also, on 24 October 2022, troops and Nigerian Police personnel on fighting patrol around Nkwere forest in Oji-River Local Government Area of Enugu State came in contact with suspected Indigenous People of Biafra/Eastern Security Network criminals mounted on SUVs and motorcycles, who fled on sighting troops.

    According to him, troops pursued the criminals and engaged with superior fire, forcing them to abandon their vehicles and motorcycles adding that troops exploited the area and recovered 2 SUV vehicles, 3 motorcycles, cooking utensils amongst others.

    All recovered items are in troop’s custody for further necessary action.

    In another development between 21 October to 2 November 2022, troops conducted anti-illegal bunkering operation to Ama-Hausa Arugu and Umuokabia Ugodo villages in Ngor Okpala Local Government Area of Imo State. During the operation, troops discovered and destroyed illegal bunkered oil in 79 sacks of 50 litres Automotive Gas Oil each, 8 gallons of 25 litres, 3 nylons with 3 drum containing refined products, arrested a bus and 2 suspects conveying illegal refined Automotive Gas Oil and 1 Toyota Avalon containing 1,200 litres of Automotive Gas Oil.

    He added that troops also discovered a loading point in an abandoned filling station with 3 vehicles containing 1,400 litres each of diesel and 2 tanks containing 1,000 litres each of diesel.

    Furthermore, troops conducted a clearance operation at the Indigenous People of Biafra/Eastern Security Network Camp at Amu Agba community in Ishielu Local Government Area of Ebonyi State and made contact with the criminals who fled following a fire fight. Troops exploited the area and recovered 4 motorcycles, 32 rounds of 5.56mm, 1 round of 7.62mm NATO, 1 locally fabricated pistol, 1 dane gun and 4 IEDs amongst others.

    Also on 27 October 2022, troops in conjunction with Nigeria Police and Department of State Service conducted clearance operation on the Indigenous People of Biafra/Eastern Security Network camp at Orsumoghu village in Ihiala Local Government Area of Anambra State.

     

    According him, troops made contact with criminals and in a fire fight neutralized 5 criminals, arrested 2 and recovered 1 Ak47 rifle, 2 rounds of 7.62mm special, 1 dane gun, 4 locally fabricated composite IED, 1 single barrel rifle, 15 locally fabricated mortar tubes, 1 pistol hoister, military uniforms, 1 motorcycles, 1 power generating set among others.

     

    Meanwhile, the Military High Command has commended the troops on their efforts in the various theatres of operation across the nation while the entire populace is appreciated, for the support given to the Armed Forces and other security agencies in the conduct of their operations.

  • TUC urges FG to save people from fuel exploitation

    TUC urges FG to save people from fuel exploitation

    Trade Union Congress, TUC, has called on the federal government to protect the people from those exploiting them through fuel.

    Appealing to petrol marketers to stop hoarding fuel, TUC asserted that the protection of people from exploitation is in line with Section 14, subsection 2b.

    In a statement issued in Ado Ekiti, the State Chairman of the TUC Comrade, Olusola Adigun, charged the marketers to consider the interest of the workers.

    According to TUC, the ordinary people who need to move daily and the artisans whose daily survival is determined by the product are being exploited.

    Comrade implored the task force on petroleum to justify the essence of its existence and protect the people from Shylock businessmen who are bent on making life unbearable for the people.

    The TUC leader noted that workers who had to move several kilometres to work were worst hit by the unjustifiable scarcity and illegal increase in the pump price and the attendant skyrocketing prices of commodities.

  • See some safety rules to obey while handling petroleum products

    See some safety rules to obey while handling petroleum products

    Mrs Roseline Wilkie, the Zonal Controller of Department of Petroleum Resources (DPR) in Imo, on Friday advised petrol station managers to observe environmental safety rules in their premises.

    Wilkie gave the advice in Owerri on Friday when she visited some petrol stations to create awareness and monitor compliance to DPR rules and regulations on sale and distribution of petroleum products and safety.

    She said there was the need for station managers to continue to encourage their customers to put off their cell phones and car engines while buying products and also observe other safety rules.

    Wilkie also urged Imo residents to observe safety rules while handling petroleum products.

    She listed the rules to include non-usage of hand sets at filling stations, non-keeping of petrol in jerrycans inside house and no smoking of cigarettes as well non-usage of candles near petrol.

    Others are putting off motor engines and generators while buying or pouring fuel, buying petrol in good stations, stop scooping petrol from fallen tankers, stop burning things or bush near filling stations and never to use containers for petrol to buy kerosene.

    The DPR controller also warned gas users to change leaking gas valve or hose, not to use water to quench a fire caused by gas, keep their cylinders in well ventilated areas and to call experts and fire service in case of any complaint on the gas and fire.

    Some petrol station managers and gas plants visited thanked the DPR for the oversight function.

    Mr John Jenka, the Manager of A.A. Roni Nig. Ltd., and Mr Chigbo Chukuma the Managing Director of Regime Cooking (Gas Plant) Filling Station, both along Onitsha Road, commended DPR officials for the visit which they said was meant to keep them on their toes.

    The managers, on behalf of other station managers, promised to comply with the safety rules and regulations of the DPR.

    Part of the visit was the handing over of the fliers on safety rules by the DPR to the managers.

  • Petroleum Industry Intervention on COVID-19 earmarks 53% of funding to construction of medical infrastructure

    Petroleum Industry Intervention on COVID-19 earmarks 53% of funding to construction of medical infrastructure

    Of the N21billion ($58million) pledged in kind as medical intervention by the Nigeria Oil and Gas Industry to combat COVID-19 and improve on healthcare delivery in the country, 53 percent of the sum pledged has been earmarked for the construction of medical infrastructure across the six geopolitical zones in the country.

    Ground-breaking ceremonies for the construction of 200-bed Infectious Diseases Hospitals with in-situ laboratory had already been held in Bayelsa, Borno and Katsina States with that of the other locations to follow suit.

    A recent report of the group’s delivery schedule indicated that other medical consumables and logistic support have been delivered to 20 states and the Federal Capital Territory (FCT), while end of June 2020 is set for states yet to receive.

    The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, who leads the intervention group, said 14 medical centres in total and two Intensive Care Unit (ICU) expansion and upgrade would be delivered across the federation as part of the intervention initiative.

    The group’s Governance Committee comprising Managing Directors of oil companies and other Industry players, headed by the NNPC GMD, has also allocated 26 per cent of the intervention funding to the deployment of logistics and in-patient support systems and 21 percent of the sum to the provision of medical consumables across the Country.

    All the initiatives by the respective stakeholders form part of their usual Corporate Social Responsibility (CSR) programme/commitments.

    The report said medical consumables comprising respirators, protective suites and test kids as well as logistics and in-patient support systems among which are ambulances, ventilators and beddings and laboratory equipment have been delivered to 21 states and the Federal Capital Territory.

    States that have received medical consumables, as well as logistics and in-patient support systems, are: Adamawa, Akwa Ibom, Borno, Delta, Ekiti, Enugu, Imo, Jigawa, Kwara, kaduna, Kano, Katsina, Lagos, Ogun, Ondo, Osun, Oyo, Sokoto, Plateau and Rivers State as well as the FCT.

    Intervention is provided in kind by donors using internal transparent procurement processes driven with a clear governance structure of the various coalescing companies involved in the initiative, a release by NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said

    The Oil Industry Intervention group is made up of the NNPC, Oil Producers Trade Section (OPTS), Independent Petroleum Producers Group (IPPG), Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers (DPPMA), Petroleum Technology Association of Nigeria (PETAN) and Nigeria Liquefied Natural Gas Limited (NLNG).

    The Nigerian Oil and Gas Industry under the leadership of the NNPC has embarked on an Industry-wide collaborative intervention in recognition of the ravaging impact of COVID-19 pandemic on the critical sectors of the national economy.

    The initiative is to support the ongoing Federal Government’s efforts and in collaboration with the Presidential Task Force and the National Centre for Disease Control (NCDC) to curb the pandemic.

     

  • Taking analgesics for another person’s headache – Owei Lakemfa

    By Owei Lakemfa.

    The last of five Iranian ships carrying petroleum products to Venezuela berthed safely this week after repeated United States (US) threats to militarily stop them. The first ship, Fortune, had arrived on Saturday May 23, escorted by Venezuelan Navy to ward off possible American attacks. It was followed by the vessels, Bella, Bering and Clavel.

    Apart from threatening the ships as they sailed from Iran, America had dispatched destroyers, littoral combat ships, Poseidon maritime planes and Air Force surveillance aircraft off the Venezuelan coast ostensibly to check drug smuggling but making it clear it could use them against the Iranian ships.

    But Iranian President Hassan Rouhani had warned: “Any pirate-like action by the U.S. Navy against the Iranian fuel shipments to Venezuela would trigger a harsh response.”

    The US was willing to spark off an international conflagration on the bizarre basis that it does not approve trade between the two sovereign countries. Secondly, the Americans claim that since they have imposed sanctions on both countries, they have lost the legitimate right to trade even between themselves. Thirdly, it says the Iranian supply of petroleum products to Venezuela amounted to an intervention in that country which is against its 19th Century Monroe Declaration under which US rejects outside intervention in the Western Hemisphere, a region it regards as its “backyard” This, the Trump administration says, gives it the right to militarily attack the ships. The Commander of U.S. Southern Command, Admiral Craig Faller in buttressing this inane position claimed Iran’s objective was to “gain positional advantage in our neighborhood in a way that would counter U.S. interests.”

    Fourthly, America says it is angry that Iran is trying to help Venezuela restart its 310,000 barrel-per-day Cardon refinery, a claim Iran denies. But what is criminal in Venezuela working to end fuel shortages and bringing relief to its people?

    Fifthly, the US childishly wails that the petroleum products were stolen by the Iranian government from the Iranian people and given illegally to Venezuela. If this weird claim were true, how is it America’s business? How is it in America’s place to cry for Iranians who in the first place have not reported their oil stolen? How can it be America’s business to take analgesics for the headache it claims Iranians have? If America were a human beign, I would have suggested its sees a psychiatrist because its actions and postulations do not make any sense.

    Elliott Abrams, the U.S. Special Representative to Venezuela – the elegant title given to the man charged with overseeing the overthrow of the democratically elected government of President Nicholas Maduro – says American is opposed to the fuel supply because: “You have two pariah states finding that they are able to exchange things they need for things they have.”

    Mr. Abrams, an ex-convict might have been chosen for that role because he has a sordid past of being lawless and having little or no regard for human lives. He was appointed in January, 2019, thirty years after exiting the American State Department.

    In December 1981, American-trained special units of the Salvadorian military entered the village of El Mozote and massacred almost 1,000 men, women and children. When the massacre became public knowledge, the American Senate decided to probe it. The CNN in its January 26, 2019 report quoted the Human Rights Watch Report of the massacre which said Abrams at the Senate hearings “artfully distorted several issues in order to discredit the public accounts of the massacre,” insisted the numbers of reported victims were “implausible” and “lavished praise” on the military battalion behind the mass killings.

    The Reagan administration from August 20, 1985 to March 4, 1987, sold arms to Iran which was ostensibly under American sanctions, and used the money to fund Nicaraguan terrorist campaigns which included blowing up civilian ships at that country’s ports, and killing civilians especially in the rural areas.

    When the US Congress probed what became known as the Iran-Contra Scandal, Abrams lied to Congress. In order to escape multiple felony counts, he agreed to a guilty plea and was sentenced to two years probation and 100 hours of community service. The President George Herbert Walker Bush government later granted him pardon.

    The American establishment in resurrecting such a man three decades later, is a clear statement that the American interests in Venezuela is neither democracy nor human rights, but Venezuela oil and gas which it has been unable to exploit since the election of Hugo Chavez twenty two years ago.

    The Venezuelan refineries might not start running soon, and these Iranian supplies might soon be depleted necessitating more purchases which the Iranians might oblige. So, soon, there might be another round of American threats to go to war because two sovereign countries decide to buy and sell legitimate goods to each other.

    It is this type of incomprehensible diplomacy America displayed in warning Coronavirus-wracked countries not to accept medical aid from Cuba. With 1.87million infections, 421,000 recoveries and 108,000 deaths, as at Wednesday, America has clearly been unable to withstand the virus onslaught. So it has been in no position to assist other countries. In contrast, tiny Cuba with its sophisticated healthcare system built on prevention and community-based fights against viruses, is able to send medical personnel to fight Covid-19 in countries like Italy, South Africa, Jamaica, Grenada, Venezuela, Nicaragua and Suriname. In fact, it is trying to keep up with aid requests from 22 countries. But in a curious move, the American State Department issued a statement demanding countries to reject Cuban medical aid claiming that it is “an abusive programme” that engenders “end labour abuses” in Cuba. No country has responded to the odd American request as they are more interested in saving the lives of their people than be distracted by an administration locked in queer Cold War battles.

    A major headache of the American government might be campaigns by appreciative groups calling for the 2020 Nobel Peace Prize to be awarded to Cuba’s Henry Reeve International Medical Brigade which is fighting Covid-19 in various countries.

    America had exhibited a similar diplomatic attitude when it asked African countries to reject Chinese development loans which have favourable repayment terms and spread in contrast to those of the International Monetary Fund (IMF) Ironically, while Africa’s total loan from China is less than $140 Billion, the US alone is owing China $1.1 trillion.

    The US is a busybody interfering in the internal affairs of various countries, dabbling in many issues it has no direct, and sometimes even indirect stake. All the while, it claims to be all-knowing and omnipresent across the globe and even the planetary system. The universe will be a better place if the US stops playing god in world affairs.

  • Petroleum Pricing Agency speaks on increasing fuel pump price

    The Petroleum Products Pricing Regulatory Agency on Tuesday cautioned oil marketers against distorting the approved pump price of Premium Motor Spirit, popularly known as petrol.

    According to the agency, which is in charge of fixing the price of white petroleum products – petrol and kerosene, the approved cost of PMS at retail filling stations has not changed beyond N145 per litre.

    The Executive Secretary, PPPRA, Abdulkadir Saidu, refuted the growing speculation of an imminent increase in the price of petrol and noted that the speculation was being made by some interest groups.

    He therefore advised oil marketers to ensure that there was no price distortion in their respective retail outlets, adding that PPPRA would continue to carry out its oversight function of monitoring depots and filling stations across the country.

    This, he said, would ensure strict adherence to the regulated price and nip in the bud other forms of sharp practices at retail outlets.

    Saidu specifically warned that adequate sanctions awaited any erring filling station that was found wanting.

    He commended oil marketers for their dialogue with the Federal Government to resolve issues on the payment of their outstanding subsidy claims.

    The PPPRA boss noted that embarking on strike was not always the best option to address industrial disputes and appealed to oil marketers associations to cooperate with the government in finding a solution to the issue.

    Saidu said that PPPRA was totally committed to ensuring uninterrupted petroleum products supply and distribution, especially during the festive period and beyond.

    He said that motorists and other PMS consumers should desist from panic-buying as PPPRA was partnering other agencies of government to ensure that there was no short fall in the supply and distribution of petroleum products nationwide.

  • 800bn subsidy debt: FG, petroleum marketers finally agree on settlement of unpaid claims

    800bn subsidy debt: FG, petroleum marketers finally agree on settlement of unpaid claims

    The Federal Government says it has agreed with petroleum marketers on the settlement of outstanding claims and assured that operations at all depots and sales will continue until further notice.

    This is contained in a statement by Paul Abechi, Special Assistant on Media and Communications to the Minister of Finance, Mrs Zainab Ahmed, on Thursday in Abuja.

    He said it was contained in a statement jointly signed by officials of the Federal Government and representatives of the petroleum marketers after a joint meeting on Thursday.

    Abechi said the petroleum marketers expressed satisfaction over the arrangement being made by the Federal Government to settle their claims and assured the members of the public of availability of petroleum products.

    According to him, the meeting which was held at the Ministry of Finance in Abuja, had in attendance senior government officials from the Ministry of Finance, the Debt Management Office (DMO), the Nigerian National Petroleum Corporation (NNPC) and the Central Bank of Nigeria (CBN).

    Others present were officers from the Budget Office of the Federation, the Office of the Accountant-General of the Federation and the Petroleum Products Pricing Regulatory Agency (PPRA).

    Also in attendance on the part of the petroleum marketers were representatives from the Depot and Petroleum Products Marketers Association (DAPPMA), Major Oil Marketers Association of Nigeria (MOMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN).

    Abechi said, “the DAPPMA, MOMAN and IPMAN with the Federal Government delegation meeting held at the Ministry of Finance in Abuja on Thursday, agreed that operations at all depots and sales will continue until further notice.

    “After a meeting held today with senior government officials from the Ministry of Finance, the DMO, NNPC, CBN, the Budget Office of the Federation, the Office of the Accountant-General of the Federation and the PPPRA, we are satisfied with the arrangements being made by the government to settle the claims of petroleum marketers.

    “The discussions showed that the government has considered the concerns and is reviewing the initial process approved by it for the settlement.

    “We consider that this shows the government’s responsiveness to the need for the claims to be settled in a timely manner.

    “We hereby wish to reassure the members of the public on the availability of Petroleum Motor Spirit (PMS), and we urge the public not to panic, as there will be no fuel scarcity.

    “The engagement of the two sides will continue on Monday”, he said.

    The News Agency of Nigeria (NAN), reports that the Federal Government commenced the accelerated implementation of settlement of government arrears through promissory notes to oil marketers.

    The obligations due to the oil marketers represent interest accruals and foreign exchange differentials and the implementation is in line with the process approved by the Federal Executive Council (FEC).

    After the approval by FEC, President Muhammadu Buhari presented a request to NASS, as required by the Fiscal Responsibility Act, 2007.

    The current administration as one of its strategies to address inherited arrears to various contractors, approved the issuance of promissory notes to various categories of creditors.

    The categories of creditors for whom the settlement of arrears was approved by FEC include pensioners and staff, contractors, construction companies, exporters, DisCos, GenCos, State Governments, Judgement Debts and the petroleum marketers.