Written by Zakariyya Adaramola, Francis Arinze Iloani, Simon Echewofun Sunday, Kubrat Hussain and Olatemide Arowora (Abuja) & Mohammed Shosanya (Lagos)
Fuel queues which started to build up Tuesday grew longer yesterday in Abuja, Lagos and other states.
Motorists queued up for hours at fuel stations in the past two days before they were served.
Many who spoke to our reporters hoped they were not witnessing a return to the “nightmarish experience” of the last few weeks of former President Goodluck Jonathan administration.
Sources linked the situation to the non-payment of outstanding subsidy funds of about N150 billion.
One of the sources also revealed that in the past one month of the President Buhari administration subsidy funds had accumulated to about N59 billion.
Marketers, who for over two months had stopped importing petroleum products, are said to have been worried that the unpaid debt may have accumulated beyond the outstanding one left by the former administration with mounting foreign exchange differentials.
He said oil marketers are therefore reluctant to commit more funds to the importation of petroleum products until their current bills are settled. It’s not clear whether the current government is willing to offset the debt to enable the marketers resume importation. Read More →
By Ejiofor Alike
The Crude for Petroleum Products Exchange Agreements, better known as crude oil swaps, and Offshore Processing Agreements (OPAs), entered into by the Nigerian National Petroleum Corporation (NNPC) and oil traders between 2011 and 2014, are to blame for the abysmally low output from NNPC’s refineries and the high importation of petroleum products into the country, THISDAY has learnt.
Extensive interviews with officials of NNPC and industry operators revealed that contrary to the perception that has been created for some time that the nation’s four refineries were operating at suboptimal capacity, thus necessitating the massive importation of petroleum products, certain elements within the system, with endorsement of the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, ensured that the refineries were starved of crude oil. Read More →
President Muhammadu Buhari on Monday attributed the delay in his appointment of ministers to the late submission of the transition committee’s report on the previous administration to him.
Mr. Buhari made this known while speaking to journalists at the Summit of the African Union in Johannesburg, South Africa.
The President said he was being careful in order not to make mistakes in appointing individuals especially to key positions such as in the finance and petroleum ministries.
“I don’t know why people are so anxious about ministers. But eventually we will have (them). Read More →
The Oodua People’s Congress (OPC) said it would pull out its men from guarding all Nigerian National Petroleum Corporation (NNPC) pipelines nationwide from Monday evening.
Mr Yinka Oguntimehin, the Spokesman for Gani Adams Faction of the congress said this in an interview with the News Agency of Nigeria in Lagos on Monday.
Oguntimehin said that this became necessary because the corporation had yet to start paying for the work its men are doing.
He said the corporation was, as part of the contractual agreement entered into, three months ago, expected to start payment.
The spokesman said that the OPC personnel had continued to guard the pipelines with the belief that the corporation would pay as promised. Read More →
by AYO ESAN
Otunba Gani Adams is the National Coordinator of the pan-Yoruba group, Oodua Peoples Congress, OPC. He recently had a chat with newsmen in Lagos. AYO ESAN brings excerpts:
President Muhammadu Buhari has assumed power. What is your expectation from him?
I think we should encourage the president to build a new Nigeria that Nigerians can be proud of. Although, he may not want to follow the policies of the former president, but I think he should use his initiatives to pick those who would work with him so that he can pursue his own objectives or policies, because some of the problems we have in Nigeria is that when a new government comes, it will destroy all the structures it meets on ground and starts building new structures.
In the process, there would be delay in building infrastructure. Before you bring a consultant to build a new platform for development, it will take a long time. It would even take not less than three years out of his first tenure of four years. I think President Muhammadu Buhari should look thoroughly at the good side of President Goodluck Jonathan’s administration and policies and lift from it and continue with the implementation of good ones and leave out any one that does not tally with his own ideology or that he thinks cannot give Nigeria the change he desires for the country.
We should be very, very careful to avoid waste. In a situation where an airport project has attained 70 per cent implementation, the President should not stop it by saying that he want to start a new project. Also, a situation where a seaport has been assigned by the former President, he may investigate the contract, but not abandon it because the problem we have in Nigeria today is that we don’t have sound infrastructure. Read More →
by WALE IBRAHIM
At least, three police officers and a tanker driver, whose identity were yet to be ascertained, have been shot dead by suspected illegal oil bunkerers.
The incident occurred at Oguda area in Okene Local Government Area, a border town between Kogi and Edo states known to be a notorious haven for oil thieves, who are in the habit of stealing petroleum products from NNPC pipelines. Read More →
The Department of Petroleum Resources (DPR) said on Wednesday that 167 trucks of petrol were supplied to Abuja on Tuesday following the suspension of strike by oil sector workers on Monday.
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASAN), embarked on indefinite strike on May 18.
The two unions were protesting the inability of the government to meet their demands.
The demands included inability by government to carry out turn-around maintenance of refineries and reduction in the pump prices of petroleum products in line with the slump in global prices of crude oil. Read More →