In a related development, Nigerian National Petroleum Corporation (NNPC) says it will unveil the largest Liquefied Petroleum Gas (LPG) also known as cooking gas and Propane Storage and dispensing facility in Oredo, Benin City.
The Corporation disclosed this in a statement by its spokesman, Ndu Ughamadu, in Abuja
The corporation with its subsidiary, the Nigerian Petroleum Development Corporation (NPDC) would unveil the facility as part of its efforts to fast track the consumption of LPG in the country.
“The facility, which is an extension of the Integrated Gas Handling Facility (IGHF) plant, has the capacity to dispense 330tonnes of LPG and 300tonnes of Propane daily in addition to the 100Million standard cubic feet of gas per day (MMscfg/d) and 260 barrels per day Condensate from the IGHF plant,’’ the Corporation said in a statement over the weekend in Abuja, by its Spokesman, Ndu Ughamadu.
Ughamadu noted that the Managing Director of NPDC, Mr Yusuf Matashi, said the IGHF would be a game changer for the National Oil Company, as both facilities (IGHF & LPG bay) when commissioned, would be a huge revenue stream for the Federal Government.
“Before the end of 2019 NPDC would be producing 40 per cent of the nation’s LPG requirements,’’ he quoted Matashi as saying.
Ughamadu noted that the NPDC boss said that the facility was centrally positioned to supply LPG to Lagos, South-South; South-East and to the North in order to grow its consumption across the country.
“Currently NPDC is the single largest supplier of gas to the domestic market with about 90 per cent of gas supply targeted at power generation to drive the nation’s economy positively.
“We are paying greater focus on our 100 per cent assets production. NPDC assets will deliver a lot in terms of meeting its (crude oil and gas) volume targets.
“We currently contribute 10 per cent to daily national production and by end of 2019, the company is looking at 15 per cent contribution to daily national production,” Matashi also said in the statement.
He further said that production outlook for 2019/2020, was on the bright side, adding that the company was aggressively pursuing its drilling and field development programmes as approved by the management of NNPC.
He said that the company had oil reserve base of 3.6billion barrels and gas reserve of 15 trillion cubic feet from its involvement in 29 concessions – 22 Oil Mining Leases (OMLs) and 7 Oil Prospecting Licenses (OPLs).
According to him, the flagship upstream subsidiary of NNPC will continue to be a leading exploration and production company of choice going forward.
Matashi noted that NPDC maintained cordial relations with regulatory agencies, such as the Department of Petroleum Resources (DPR) and had maintained its remittance of royalties and Petroleum Profit Tax to the Federal Inland Revenue Service (FIRS).
He added that the company and its various host communities were living in peace due to the company’s commitment to sustainable community development policy.
Police Parade Suspected Killers of Former Benue Judge
By David Trough, Abuja
The Benue State Police Command has paraded four suspects in connection to the murder of Retired Justice Margaret Igbetar, who was murdered in August this year.
State Commissioner of Police, Bartholomew Onyeka who disclosed this while briefing newsmen in Makurdi on Tuesday said the suspects have since confessed to the crime.
According to him, among those who were arrested was a nephew to the deceased, Aondohemba Joseph, adding that Joseph had alleged that Justice Igbetar was holding his father’s property which should have been bestowed on him, but she (Justice Igbetar) had refused to relinquish the said property.
Onyeka said, “You will recall that on 24th August 2023, a case of Culpable Homicide involving the late Justice Margaret Mary Igbetar (rtd) was reported and I had promised to ensure that Justice is served. One Aondohemba Joseph, a nephew of the deceased was arrested immediately.
“A more detailed and advanced investigation started when the case was transferred to the State Criminal Investigation Department (SCID) and handed over to the Operation Zenda investigative team to continue.
The suspect who eventually confessed to having planned and recruited other people to help him in killing his Aunty (Justice Igbetar) led a team of detectives to Adikpo, in Kwande Local Government Area of the state where more suspects were arrested including, Igbazenda Gbidye, 63yrs old and Dzungwenen Ukor, 40yrs old.
“These suspects admitted that Aondohemba Joseph had reported to them that his father died and left so much property in the hands of his aunty (the deceased) and she has refused to hand the said property over to him. They agreed to join him in eliminating her so that he could have access to his property.
“One Akuhwa Barnabas, 32yrs old, a driver to the deceased who was also arrested, corroborated their statements by admitting that he was the one who allowed the gang access to the house and manned the gate for them until they finished the assassination process”, the State Commissioner of Police stated.
Onyeka said commended the people of the state for their patience and cooperation adding that the command would continue to do its best to rid the state of crime
DMO Offers N150bn Sukuk Bond for Subscription at N1, 000 Per Unit
The Debt Management Office (DMO) on Tuesday offered for subscription, Ijarah Sukuk valued at N150 billion.
According to a statement by the DMO, the Sukuk is issued by Federal Government of Nigeria (FGN) Roads Sukuk Company PLC, on behalf of the Federal Government.
It said that the Sukuk were offered at N1,000 per unit, subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter.
“Rental payment is made half-yearly, and bullet repayment is done on the date of maturity.
“Proceeds will be used solely for the construction and rehabilitation of key road projects and bridges across the six geopolitical zones of the country,” the DMO said.
It added that the Ijarah Sukuk was backed by the full faith and credit of the Federal Government.
“It qualifies as securities in which trustees can invest under the Trustee Investment Act.
“Qualifies as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among other investors.
“To be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited, ” it said.
It added that the Ijarah Sukuk was classified as liquid asset by the Central Bank of Nigeria (CBN) and certified by the Financial Regulation Advisory Council of Experts of the CBN.
The News Agency of Nigeria (NAN) reports that the Sukuk is a Sharia-compliant instrument that represents the interests of the owner in an asset or pool of assets.
It ensures that every financial activity is backed by real economic activity, is usually linked to specific infrastructure projects.(NAN)
Release of Chicago Documents Stirs Uproar, Stereotypes, Sarcasm
By Ben Atonko, Abuja
The release of documents by the Chicago State University (CSU) to clear doubts on President Bola Tinubu’s certificates on Monday has caused huge public uproar in Nigeria.
Lawyers and social media users are particularly agog with different views.
While some call it a disgrace to President Tinubu, some say it is a dashed hope for the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar.
The documents contained Tinubu’s admission records, and a letter dated 27 June 2022 confirming that he attended the university from August 1977 to June 1979 majoring in Accounting.The letter said Tinubu was awarded Bachelor of Science in Business Administration with Honours on 22 June 1979. CSU released the school documents to Abubakar.
In his reaction, a Senior Advocate of Nigeria (SAN), Wahab Shittu said Abubakar’s case against President Tinubu in the February 25 election may have collapsed completely.
Shittu is of opinion that the release of Tinubu’s educational results as ordered by Justice Nancy Maldonado of the Northern District of Illinois Court, USA, does not alter the likely outcome of the case.
A subpoena was issued after a federal judge in the United States ordered the university to turn over records pertaining to Tinubu’s time there in the late 1970s.
Tinubu has been accused by Abubakar of falsifying his academic credentials.
Abubakar alleges in court that the documents showing that Tinubu graduated from CSU in 1979 are not authentic and that is grounds to nullify Tinubu’s election victory.
His application sought four categories of documents from CSU, which confirmed Tinubu’s graduation in 1979 with a bachelor’s degree in Business Administration.
Following the release of the documents, Shittu said aside from the fact that CSU exists, there is proof that President Tinubu attended the institution, stressing that his claim is not a fabrication.
He said, “The constitutional requirements for qualification to aspire for the presidency is at least school certificate level or its equivalent. The three diplomas issued by the university satisfy this requirement.”
He noted that the university has not denied issuing the certificate issued to the president in 1979 adding that “the school merely says it does not keep duplicate copies of issued certificates.
Similarly, a former Minister of Aviation, Osita Chidoka in an essay entitled “The US Court Proceedings on Order Directing Discovery from Chicago State University: A National Embarrassment” maintained that however the certificate matter ends, Nigeria has been disgraced.
Chidoka is a staunch member of PDP.
He wrote, “The decision of the District Court and the whole proceedings is not a moment of triumphalism but a sober moment of introspection. It is a moment when as a nation we ask ourselves:
“What are our national values? Who or which institution should have ordered the full investigation of the questionable certificate?
“If the certificate is not forged, the president should conduct a wide-ranging reorganisation of our national security system for failure to save the country from this needless embarrassment and reputational damage.
“If and that is a big if, the certificate is forged, President Tinubu should resign immediately. It is not a legal matter but a national honour and moral issue.
“If he does not, the National Assembly should do the needful to restore our dignity as a people. I also expect the Supreme Court to rise to the occasion and restore order to our electoral process.
“On either count, the National Assembly should start a constitutional amendment process to end all election judicial challenges before the assumption of office of all elected persons at all levels.
“The bold challenge of President Tinubu by HE Abubakar Atiku in the US is the most prominent sign of state failure.
“It is depressing but maybe it is an inflection point to alter the character of the Nigerian state to live up to the words of the second stanza of our old national anthem.”
Social media users also take opposing position, espousing that which suits their narration.
X formerly Twitter and Facebook have been buzzling since. Users lace their comments with stereotypes, sarcasm and abuses.
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