Connect with us

COVER

Refinery Sale Sparks Industry Debate: Marketers Back Plan, Demand Transparency

Published

on

Share

By David Torough, Abuja

Oil marketers and industry stakeholders have voiced strong support for the proposed sale or privatisation of Nigeria’s state-owned refineries, urging the Federal Government to ensure the process is transparent, inclusive and accountable.Their reactions followed comments by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, who revealed during the 9th OPEC International Seminar in Vienna that the ongoing rehabilitation of the Port Harcourt, Warri, and Kaduna refineries has failed to deliver the expected results.

Ojulari said the company is currently reviewing its refinery strategy and has not ruled out selling the facilities.
“All options are on the table,” he stated. “Sale is not out of the question, but we await the outcome of the current review.”The announcement comes amid public outcry over trillions of naira already spent on refinery maintenance, with little to show for it. The refineries with a combined capacity of 445,000 barrels per day have remained largely non-operational for over a decade.Marketers Demand Accountability, InclusionPresident of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry described the sale as the “only reasonable path forward,” but questioned the motives behind the timing. “We must understand what’s driving this process,” he said. “Privatisation should not be a political exercise.”Gillis-Harry stressed that all relevant stakeholders including PETROAN, IPMAN, MEMAN, DAPPMAN and NUPENG must be involved in the process to ensure it is fair and beneficial to the industry.He also criticised the government for failing to follow through on past commitments, including a promised 30-day review of the Port Harcourt refinery’s revamp. “We have yet to see the results of that probe. Instead, the conversation has shifted to selling the refineries that’s not good enough,” he said.A Financial SinkholeNational Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike echoed PETROAN’s stance, labelling the refineries “a burden” on public finances.“Billions of naira have been wasted on turnaround maintenance. We advised the declaration of a state of emergency in the refining sector long ago,” he said, adding that the best way forward is either complete overhaul or a well-managed sale. “They should not be scrapped, but they must be utilised.”Ukadike lamented the role of corruption and technical mismanagement in the ongoing failures, calling the situation “economic sabotage.”Experts Call for Due Process, Not Fire SalesEnergy economist Kelvin Emmanuel warned that moving forward with the sale without addressing past mismanagement would be a grave mistake. He called for investigations into former NNPCL leadership and suggested that the Economic and Financial Crimes Commission (EFCC) and Attorney General must hold those responsible accountable.“It would be a travesty if those who oversaw these failures walk free,” Emmanuel posted on X (formerly Twitter).Professor Wumi Iledare, a petroleum economist, urged caution, reminding the government that decisions must align with the Petroleum Industry Act (PIA) and serve long-term national interest. “This should not be about immediate gains,” he warned. “The problem isn’t necessarily state ownership, it’s institutional failure.”Billions Sunk, Nothing to ShowDespite consistent budgetary allocations for over a decade, the refineries remain unproductive. Data shows that: $1.4 billion was approved for Port Harcourt refinery in 2021.$897 million was earmarked for Warri, and $586 million for Kaduna.An additional N100 billion was spent on rehabilitation in 2021 alone.$396.33 million went into Turnaround Maintenance between 2013 and 2017.Yet, the refineries have not resumed meaningful operations, prompting increasing calls for a total re-evaluation of the downstream sector.With growing consensus among stakeholders that the government should exit refinery management, attention now turns to how the privatisation process will be handled. Industry players are calling for openness, consultation, and accountability, warning that anything less could replicate the very failures the proposed sale seeks to end.

COVER

DAILY ASSET Appoints Torough, Editor, Names Eze, Deputy

Published

on

Share

By Laide Akinboade, Abuja 

As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.

A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.

“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.

In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.

“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.

Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.

“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.

He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.

Torough, the new Editor has had a steady rise in the Newspaper in the last five years.

A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor.  He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment. 

Torough  has  attended several journalistic workshops and trainings to properly equip himself for the task ahead.

The statement also said the Management named Eze Okechukwu as Deputy Editor.

Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and  DAILY ASSET Newspaper correspondent  covering the Senate, having joined the organization in 2021.

Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.

Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.

Aside from his journalistic excellence, he has a great deal of passion for sports.

Continue Reading

COVER

Insecurity: Northern Govs, Monarchs Seek Six-month Mining Suspension

Published

on

Share

From Ngutor Dekera, Kaduna and Aliyu Askira, Kano

Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna.

The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils.
The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.
“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.

Continue Reading

COVER

Abacha Loot Probe: Malami Faces EFCC Panel Daily in December

Published

on

Abubakar Chika Malami SAN Attorney General
Share

By David Torough, Abuja

The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice,  Abubakar Malami, will face a team of interrogators at its office daily throughout December.A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request.

The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.
The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.

Continue Reading

Advertisement

Read Our ePaper

Top Stories

DEFENCE19 hours ago

COAS Urges NMS Students to Uphold Discipline, Excellence, Promises Better Learning Environment

ShareBy David Torough, Abuja The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has charged students of the Nigerian...

POLITICS23 hours ago

Gov Adeleke Didn’t Join APC Because Osun People Already Hated the Party – Jackson Ojo

Share…Says Defectors to Ruling Party Will Regret By Mike Odiakose, Abuja A former chieftain of the All Progressives Congress (APC),...

Uncategorized23 hours ago

COAS Charges 3,439 New Army Recruits on Loyalty, Discipline

ShareBy David Torough, Abuja The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu (NAM), has charged 3,439 newly trained...

BUSINESS2 days ago

CBN Revamps Agric Guarantee Scheme, Targets Smallholder Farmers

Share The Central Bank of Nigeria (CBN) has launched a major overhaul of the Agricultural Credit Guarantee Scheme Fund (ACGSF),...

BUSINESS2 days ago

Okonjo-Iweala, Others Urge Youths to Drive Reforms, Strengthen Civic Action

ShareNational leaders have challenged youths to lead Nigeria’s renewal, warning that meaningful change now depends on young citizens organizing, demanding...

NEWS2 days ago

Eight Students Die, Three Injure in Jos Road Crash

ShareFrom Jude Dangwam, Jos The Vice Chancellor of the University of Jos, Prof. Ishaya Tanko has confirmed the sad death...

NEWS2 days ago

ShareUNICEF Hails Bayelsa as Champion of Primary Healthcare Devt in Nigeria From Mike Tayese, Yenagoa The United Nations Children’s Fund...

BUSINESS2 days ago

EFCC Seeks Stronger Alliance with CSOs, Media in Anti-corruption Fight

ShareThe Economic and Financial Crimes Commission (EFCC) has called for deeper collaboration with Civil Society Organisations (CSOs) and the media...

NEWS2 days ago

ShareMutfwang Pledges Support for Minister of Defence in Fight against Insecurity From Jude Dangwam, Jos Plateau State Governor, Caleb Mutfwang,...

Uncategorized2 days ago

FRSC Deploys New Sector Commander to Benue

ShareThe Federal Road Safety Corps (FRSC) on Thursday, announced the deployment of Corps Commander (CC) Kehinde Dahunsi as new commander...