Dangote, Witches and Why We Need Yams, By Dare Babarinsa

ADEOLA YUSUF

  Dangote’s new battle is not going to end in a hurry.   In the months and years ahead, Nigerians and Africans would have a choice of buying refined petroleum products produced on our soil. In North and West Africa, only Libya and Algeria have functioning refineries. Nigeria, in the past 20 years, has expended enormous resources in trying to revive its four comatose refineries. In the last few years, Aliko Dangote and his team have finally built the Dangote Petroleum Refinery and Petrochemical Complex; the largest industrial project in…

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Maiduguri Flood Receding, Normalcy Beginning To Return, Says NEMA

ADEOLA YUSUF

The National Emergency Management Agency (NEMA) has said that the widely reported flooding in Maiduguri, Borno State is beginning to recede, and normalcy is returning to the metropolis. Director General, NEMA, Zubaida Umar revealed this in a statement on Thursday, while giving an update on the current situation in the worst flooding occurrence in the history of Nigeria. She said, “Though our work is far from being done and our round-the-clock emergency response, monitoring, and assessment continues, it’s important to provide some updates. “First is the relieving observation that the…

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Scarcity: Hawkers Sell Petrol Cheaper Than Filling Stations – Investigation

ADEOLA YUSUF

▪️Incredible revelation on Nigeria’s petroconomics that shattered postulations and expectations of real-time economists Nigerians have not seen the last of the current petrol scarcity in the country as some funny developments have continued to emerge by the day. The most amusing one presently, according to a report by thr Lagos-based Vanguard newspaper, is that fuel is now sold cheaper by hawkers when compared to the pump price at filling stations. Quoting an investigation by the newspaper, the report revealed that fuel is sold at #1,000 per litre by hawkers along…

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Ekpo Hails BFPCL, COSCO Methanol Vessel Acquisition Deal, Set To Drive Economic Growth, Job Creation

ADEOLA YUSUF

Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has welcomed a major vessel acquisition deal between Brass Fertilizer Petrochemical Company Limited (BFPCL) and COSCO Shipping Lines Co Ltd, highlighting its potential to promote Nigerian content and drive economic growth. The deal, which involves the construction of 16 methanol-powered shipping vessels, valued at $900 million, is set to increase Nigerian companies’ participation in the maritime space, aligning with the Federal Government’s drive to encourage indigenous involvement in critical sectors of the economy. Ekpo in a statement by his spokesman, Louis…

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‘Oko, Otitoju, Wang,’ Meet Trio That Won NLNG 2024 Science Prize

ADEOLA YUSUF

In a significant announcement that could reshape Nigeria’s energy future, the Advisory Board of The Nigeria Prize for Science has named Eni Oko, Olajide Otitoju, and Meihong Wang as the winners of the 2024 edition of the Prize. The trio was recognised for their pioneering work on “Process Intensification Technology for Greenhouse Emission Control in Power Generation and Industry for Sustainable Fuel Production (PIC-FUEL)”. At a press conference held on Monday, the Board highlighted the importance of the 2024 competition theme, “Innovations and Technologies for Reducing the Effect of Climate…

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NNPC/Chevron JV Targets 165,000 Bopd Oil Production By December

ADEOLA YUSUF

In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its JV assets into the PIA terms. Under the new PIA regime, all existing Oil Prospecting Licenses (OPLs) and Oil Mining Leases (OMLs) would be automatically converted to Petroleum Prospecting Licenses (PPLs) and Petroleum Mining Leases (PMLs) upon their expiration. Nonetheless, an option of voluntary conversion is provided…

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EKEDC Excites Customers As 60/66MVA Transformer Energised For Bulk Supply

ADEOLA YUSUF

. “Ajah, VGC, Lekki, Eleko, others,” full list of areas to benefit from power transformer at the 330/132kV Ajah Transmission Substation . + What Momoh, Ukoh, Lasaki told customers on vandalism, extortion     The Eko Electricity Distribution Company (EKEDC) has assured customers in Ajah, VGC, Lekki, Eleko, Elemoro, and surrounding estates of improved bulk power supply, following the commissioning of a new 60/66 MVA 132/33KV power transformer at the 330/132kV Ajah Transmission Substation a crucial component of the Presidential Power Initiative (PPI). Platforms Africa reports that Mrs. Rekhiat Momoh,…

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NNPC Ltd and Challenges In The Oil Sector: Banire Misconceives the Facts, Promotes Biased Views, By Olufemi Soneye

ADEOLA YUSUF

“Unfortunate that the Senior Advicate of Nigeria (SAN) (Dr. Banire) would descend to this level…”   In the face of the challenges in the oil sector, particularly the current tightness in the supply of petrol, it has become fashionable to blame the national oil company, the Nigerian National Petroleum Company Ltd (NNPC Ltd), for everything. Last week, it was Prof. Pat Utomi who railed and fumed at the NNPC Ltd calling it one of the most opaque and unreliable companies in the world. Before then, The Punch had published an…

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JUST IN: Osun Monarch, Oba Adekunle Aromolaran, Is Dead

ADEOLA YUSUF

A first-class traditional ruler in Osun State, Owa-Obokun of Ijesaland, Oba Gabriel Adekunle Aromolaran, is dead. He was 86. The monarch’s passing was announced in a statement by Asiwaju of Ijesaland, Chief Yinka Fasuyi, on Thursday. Chief Fasuyi, in a tribute that he signed, said, “An era comes to an abrupt end!” The monarch spent 42 years on the throne. READ ALSO Fuel Price Hike: Blame Exchange Rate Crisis Not Subsidy Removal – TUC Declares Why NNPCL’s Restructuring Is Critical At This Moment – Ex-Lawmaker How Gospel Singer, Dele Gold,…

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Fuel Price Hike: Blame Exchange Rate Crisis Not Subsidy Removal – TUC Declares

ADEOLA YUSUF

The Trade Union Congress (TUC), has attributed the prevailing high cost of petrol primarily to the devaluation of the naira, rather than the removal of the petrol subsidy in May 2023. TUC President, Festus Osifo, who made the submission during an interview on Channels TV, Politics Today show, argued that petrol would have been selling at around N350 per litre if the naira had not been devalued, noting that “the ultimate elephant in the room is devaluation.” Osifo said the current official exchange rate of N1,600/S is unsustainable and has…

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