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NNPC Has Stopped Importing Refined Petroleum Products – Kyari

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The Nigerian National Petroleum Company (NNPC) Limited has announced that it has stopped importing refined petroleum products.

Speaking at the 42nd Nigerian Association of Petroleum Explorationists (NAPE) annual international conference and exhibition in Lagos, NNPC Group Chief Executive Officer (GCEO) Mele Kyari confirmed that the company is now sourcing fuel exclusively from domestic refineries, including the Dangote Petroleum Refinery.

“Today, NNPC does not import any product, we are taking only from domestic refineries,” Kyari stated, highlighting the shift towards a locally sourced supply chain.

In a recent deregulation move, the federal government ended NNPC’s sole off-taker role, allowing other marketers to purchase directly from local refineries. Addressing claims that the NNPC was not supportive of local refineries, Kyari refuted the notion, emphasizing the company’s commitment to domestic refining.

“We are very proud part-owners of Dangote refinery, no doubt about it,” he said. Kyari explained that NNPC’s decision to supply local refineries was based on strategic business insight. “We saw an opportunity that there is a clear market for at least 300,000 barrels of our production; we know that as time moves on, people will start struggling to find markets for their production. Therefore, we saw an opportunity to log supply to the domestic refinery, not just Dangote but any other refinery that operates in the country.”

Addressing calls for Nigeria to fully domesticate its oil, Kyari pointed out that Nigeria’s crude is often blended with lower-quality crude in the global market. “We should never forget that Nigerian crude is ’Lamborghini crude,” Kyari said, explaining that if all domestic products were derived from high-quality Nigerian crude, it would impact pricing. “Everybody buys Nigerian crude and blends it with dirtier crude to process… no one takes Nigerian crude except one or two refineries that I know.”

Kyari further commented on quality concerns, suggesting that product quality is relative. “You are driving a Keke-Napep and you want Lamborghini fuel, you do not need it. So, the quality issue is a relative thing… we will do everything possible to make sure that we domesticate this.”

The NNPC GCEO also dispelled rumors that the company was reluctant to sell crude to Dangote in naira, refuting claims of sabotage. “There are too many claimants out there, that the NNPC does not want to sell crude to the refinery in naira as a form of sabotage. Far from it!” he said. Kyari explained that selling in naira would be a neutral transaction, adding, “It’s a net zero gain. You lose nothing, you probably gain nothing.”

Kyari praised President Bola Tinubu for backing this approach, noting that settling such transactions domestically would reduce foreign exchange (FX) pressure on the naira. “If you stop the import and sell in naira, what you are simply doing is just a substitution… you would have controlled inflation, and you would have controlled the FX pressure because we would have settled the exchange rate for 50 percent of your imports.”

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Tinubu Working To Bring Smiles To Nigeria, Obasa Says

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– as Methodist Archbishop advocates for Muslim governor in 2027

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has urged Nigerians not to despair as the administration of President Bola Tinubu is working to resolve the country’s challenges.

“The outgoing year is indeed a challenging one, especially considering the economic situation of the country. Nevertheless, we have solace in the fact that the government of Asiwaju Bola Ahmed Tinubu, GCFR is not leaving any stone unturned to bring us to our promised land.

“Mr. President is busy doing everything possible to put smiles on our faces. Trust me, succour is coming. I urge us to keep the hope alive,” Dr. Obasa said during the Assembly’s 22nd Annual Thanksgiving Service with the theme: ‘The Voice Of Mercy’.

Senior Special Assistant to the President on SDGs, Adejoke Orelope-Adefulire; Rt. Hon. (Dr) Mudashiru Ajayi Obasa; Archbishop of the Methodist Church of Nigeria, Lagos, during the 22nd annual Christian Thanksgiving of the Assembly on Friday.

At the event which had officials from the various arms of the state government, members of the Governance Advisory Council (GAC), traditional rulers and guest preachers, the Speaker urged Nigerians to enter 2025 with renewed passion and vigour.

Quoting from various portions of the Bible, Dr. Obasa said the country had reasons to thank God for His mercies, love and faithfulness.

“In times like these, when the world can seem overwhelming and uncertain, it is crucial to remember the enduring message of mercy and grace that is ever-present in our lives. Indeed, it is through God’s mercy that we find strength, solace, and renewal.

“May we acknowledge God’s sovereignty and mercy in our lives, recognising that our blessings and successes are not solely the result of our efforts, but rather a manifestation of God’s mercy and compassion,” he said while urging citizens to also learn to show mercy to one another.

In his sermon, Most Rev. Isaac Ayo Olawuyi, Archbishop of the Methodist Church Nigeria (Lagos), urged Nigerians to be merciful to one another in line with God’s instruction.

“When the mercy of God is upon you, all protocols are be broken. All things are possible by the mercies of God. We receive forgiveness of our sins from Him by His mercies. The nation needs God’s mercy and it is by His mercy that we can overcome our predicaments and our shortcomings.

“How many people have you helped and taken care of? Go and show love and mercy,” he said.

He praised the Speaker for his leadership and collaboration with the other arms of government saying these have kept the state strong.

“You have been a true and sensitive leader with a big heart. You have proved yourself worthy. We pray that God will continue to use you to make us smile in Lagos and also grant you your heart desires,” he said while commending President Tinubu for the steps he has taken so far.

The Archbishop ended his sermon with an advocacy for a Muslim as the governor of Lagos in 2027 arguing that this was in the spirit of religious tolerance.

“I also want to add that we have consideration for religious inclination in Lagos State. It would be 12 years in 2027 that we have been in the system together and we have been having Christians as governors.

“Now, it’s time to give our Muslim brothers a chance to govern us in Lagos State. We want to pray that when it’s time for the election, it would be a time for us to elect who will govern us in Lagos State effectively,” he said.

 

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Senate Issues Warrant Of Arrest Against Julius Berger

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The Nigerian Senate has issued a warrant of arrest against the management of construction company, Julius Berger, for snubbing its invitation on several occasions.

The Senate’s resolution on Thursday followed a motion raised by Senator Osita Ngwu, representing Enugu West, expressing concern over Julius Berger’s repeated failure to appear before the Senate Committee on Works.

The lawmaker noted that Julius Berger has many failed contracts littered all over the country, stressing that there was need to investigate the development.

However, according to him, the company is taking the Senate for granted.

Making reference to the power of Senate to summon anyone before its investigative committee, Ngwu said: “If a committee summons any person or entity to come for a committee hearing and that entity does not send a representative or do not appear in any way, the normal thing is to report to the presiding officer and then warrants will be issued.”

The lawmaker urged the Senate President to compel Julius Berger to appear for investigation.

His position was supported by Senator Abdul Ningi representing Bauchi Central, who pointed out that the Senate President is empowered by the Constitution and the Senate Rules to order the appearance of anyone through a warrant of arrest.

“The committees, of course, derive their powers on the same standard rules.

“The Constitution gives the National Assembly such powers. There is no way in Order Paper, not in the powers and privileges of the National Assembly, because a committee chairman is saddled with the capacity to compel.

“It is the presiding officer that compels, and therefore, when a matter of this nature is brought before a house, the committee now seeks the mandate of the entire Senate.”

 

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₦80.2bn Fraud: Court Grants Yahaya Bello ₦500m Bail

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The Federal High Court, Abuja, on Friday, granted the immediate past Governor of Kogi State, Yahaya Bello, bail in the sum of N500 million with two sureties in like sum.

This was after the former governor had pleaded not guilty to the 19-count charges brought against him by the Economic and Financial Crimes Commission.

He is facing an alleged money laundering trial to the tune of N80bn but pleaded not guilty to all the charges.

When the case was called for hearing on Friday, Counsel for the EFCC, Kemi Pinheiro, SAN, notified the court of the intention of the prosecution to withdraw an earlier application for abridgment of the earlier date fixed for arraignment.

He said the application had been overtaken by events. The defendant’s counsel, led by Joseph Daudu, SAN, did not object, and Justice Emeka Nwite accordingly granted the request.

After the defendant had taken his plea, Daudu, SAN, made clarifications on the reasons he had not been in court during the previous hearings.

“I would like to place on record that for any impression that might have been created that the defendant did not wish to appear before your lordship, coincidentally, the ruling on my lord’s sitting this morning dealt with the issue of jurisdiction.

“What the defendant did was to ask his counsel to challenge the jurisdiction of the court, which got to the Court of Appeal and the Supreme Court.

“So it was not wishful disrespect, but he was only trying to defend himself. So we all hold your lordship in high esteem. If that impression must have been, he should not have presented himself for arraignment. That episode is gone, and things are clearer now,” the counsel stated.

While moving an application for bail, he assured that the former governor would always be present in court for the trial.

“I am saying this with the highest sense of responsibility that the defendant, a two-term governor of Kogi State who travelled only two times out of his eight years in service, will always be present in court at all times.

“There should be no apprehension that he will jump bail. So we urge your lordship to grant us very reasonable conditions of bail such that he will be able to bear,” the defendant’s counsel said.

He commended the prosecution counsel, saying he had conducted himself in the best tradition because the matter was not a do-or-die one.

He said they had agreed that the counsels would not stress his lordship over the issue of bail.

The prosecution counsel concurred.

Pinheiro, SAN, said, “I must express my honour to the very eminent lead senior counsel. He is a man of immense stature, not because of his size.

“I do respect him as former president of NBA. I also confirm that we have been engaging in a series of discussions to ease the burden on your lordship in compliance with Rule 26 of the Rules of Professional Ethics.

“I also note that your lordship had delivered not less than five rulings in this matter and it is our aim to ease the work. We are prosecutors, not persecutors, and EFCC is a professional commission, a prosecutorial, and not prosecutorial commission,” he said.

He added, “We accept the assurances of the very eminent SAN that the defendant will make himself available subject to your lordship’s discretionary terms that may be imposed.

“By so doing, we will ease the burden on the court. Therefore, we will not be opposing the eminent SAN’s submission.”

The prosecution counsel said though they had filed a counter-affidavit, they would not oppose the bail, going by the assurances of the learned SAN.

Ruling on the bail application, Justice Nwite said, “I have listened to the submissions of both counsels. It is not in dispute that both counsels have filed applications in respect of this.

“Based on the account exhibited by learned counsel for the defendant, which was exhibited and supported by prosecution counsel, I am minded to change my earlier stand on this matter.”

He granted the defendant N500 million bail with two sureties.

“Sureties must be landed property owners within the jurisdiction of this court. They must swear to affidavits of means. The title deeds of properties to be verified by the court registrar,” he said.

The defendant was also asked to submit his international passport, and he would remain at the Kuje Correctional Centre pending the perfection of the bail conditions.

It will be recalled that the ex-governor was earlier remanded in a fresh N110bn charge by EFCC, pending his bail application.

Meanwhile, the judge has fixed February 24, 2025, for hearing into the matter.

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