NEWS
NNPCL, CBN Assure Nigeria Economy on Recover Path as Nass Holds Interactive Session
By Eze Okechukwu, Abuja
The Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN) and other critical stakeholders of the Nigeria economy yesterday assured that Nigeria’s ailing economy was getting revitalized based on emerging indicators.The assurances of getting the economy out of the woods were given during a critical interactive session of the Joint Committees of the National Assembly on Finance with the Ministers of Finance, Wale Edun, Budget and National Planning, Senator Atiku Bagudu, Minister of State for Petroleum , Senator Heineken Lokpobiri , the Group Executive Officer of NNPCL , Mela Kyari and the Governor of Central Bank of Nigeria , Yemi Cardoso.
In his presentation, the Group Executive Officer of NNPCL informed the Committee led by Senator Sani Musa (APC, Niger East) that based on emerging indicators in the Energy and Gas sector, Nigeria will be a net exporter of petroleum by December this year.The indicators according to him were the Port Harcourt refinery that will start production early next month, which will be followed by the one in Warri months after and Kaduna refinery latest by December this year.He added that in a few months’ time, Nigeria’s Oil production would hit 2 million barrels per day as all enablement towards that has already been put in place.”Mr. Chairman and members of the Joint Committee, let me just give a confirmation that NNPCL and the oil and gas industry is very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this..”We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared a war on production activities and this is yielding the required results.”The combination of these two has now seen us restoring production in our country, and we believe that, as the Honorable Minister has said, we will soon hit the target of 2 million barrels oil production per day.”I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery.”Yes, this country, as we have said, will be a net exporter of petroleum products by the end of this year.”We’re very optimistic that by December, this country will be a net exporter. That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies that we know are in line to do this.”So I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.”Specific to NNPC refinery, we have spoken to a number of your committees that it is possible to have the Kaduna refinery come to operation before December, it will get to December. Both Warri and Kaduna but that of Port Harcourt will commence production early August this year “, he said.In his own submission, the CBN Governor represented by Deputy Governor (Economic Policy ) Muhammad Sani Abdullahi said the triple challenges of rising inflation, foreign exchange rate fluctuations and food inflation would take a downward trend soon as indicators to that effect were already emerging.In his submission, the Minister of Budget and National Planning , Atiku Bagudu said the 2024 budget was already being implemented and that there was ongoing negotiation with Labour Leaders on Minimum wage to ensure that there were no further disruptions to the economy.In his remarks, Senator Sani Musa appealed to Nigerians to persevere as the government was working around the clock to stabilise the economy.”Our critical interactive session with you as managers of the economy is about economic growth. It’s about how we can get our policies to work. How we will support Nigerians.”The National Assembly is very concerned because we are the representatives of the people. And we are obliged to ask what is happening. And this is the reason for the meeting .”And we have heard from you. At least you have given us preambles of the activities on how our economy can get back to track.”You are all aware of the obstructions our economy has had in the previous years. And it’s not going to be easy that overnight, in 365 days or in one year of the coming administration, things will change. It will be gradual.”And I believe that Nigerians will persevere. This is the only time we can all come together as Nigerians to give His Excellency the President, all the needed support. In order to get us out of all the trouble we have been in.”The indicators are showing that the economy is doing well. The only thing is that things are a bit difficult because it’s not easy for an inflation that has gone up to go down like that. It takes time”, he said.
By Laide Akinboade, Abuja
The Christian Association of Nigeria (CAN) at the weekend, condemned the brutal attacks and persistent violence inflicted upon communities in states such as Plateau, Benue and Gombe.This was contained in a statement signed by Archbishop Daniel Okoh,President, Christian Association of Nigeria (CAN), in Abuja.
The CAN President said Nigerian Christians remain commited to advocating for safety, security, and dignity and will continue to pursue justice and lasting peace for all affected communities. Archbishop Okoh, therefore urged Nigerians from all walks of life, backgrounds, and faiths to support ongoing peace initiatives and refrain from actions that could undermine efforts to address the country’s security challenges, particularly in the Middle Belt region. He said, “Engagements with stakeholders across professional, ethnic, and religious lines are recognised diplomatic practices that foster dialogue and mutual understanding. Any actions or statements that heighten tensions risk destabilising our nation, and we therefore call for the utmost caution”.3. He said CAN as a body won’t stop condemning the senseless killings occurring across various parts of Nigeria through official press statements, and remain resolute in speaking out against violence targeting any community. “Furthermore, we have undertaken visits to affected areas, including parts of Plateau State, to express solidarity, offer condolences, and distribute palliatives. In the days ahead, we will continue with further visits to provide support, comfort, and much-needed relief to those impacted, highlighting our commitment to standing by our communities in times of distress.”We appeal to all citizens to refrain from spreading unverified information that may deepen divisions. The strength of our nation lies in our unity, and it is only through collective effort that we can build a peaceful and prosperous Nigeria. Let us embrace the teachings of the Holy Bible to love our neighbours and the pursue peace with all.”CAN encourages open and honest dialogue among all stakeholders, both local and international, including the United States, through the presence of Ambassador Richard Mills. In addition, we believe that trusted platforms like the Nigerian Inter-Religious Council (NIREC) provide the ideal space to raise concerns and work together towards practical, sustainable solutions”, he said.He also reaffirms the association unwavering dedication to promoting peace, unity, and understanding across the nation. And collaborate with all parties to ensure the safety, security and well-being of all Nigerians, regardless of faith or ethnicity.
The Nigerian Navy Forward Operating Base (FOB), Ibaka, Akwa Ibom, has arrested two suspects trafficking 500 kilos of pangolin scales worth N25 million from Cameroon to Nigeria.
The Commanding Officer, Capt. Aliyu Abdullah, stated this while handing over the suspects and the items to the Nigeria Customs Service (NCS), in Ibaka on Saturday.
Abdullahi said that the suspects were arrested on routine patrol around Tom Shot Island on Thursday.
“The arrest was made during routine-stop-and-search of boats transiting from Cameroon to Nigeria,” he said.
He stated that Pangolins are a critically endangered species protected under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
Abdullahi noted that smuggling of products derived from endangered animals, such as pangolin scales, across International maritime borders constituted a serious violation of both International and domestic legal frameworks.
“They play a vital role in their ecosystem, however, their population has been decimated due to high demand for scales and meat particularly in black markets across Asia and Africa,” Abdullahi said.
The commanding officer said the shipment of scales was believed to be destined to a port in Lagos for smuggling out of Nigeria to markets in Asia.
“It breaches the convention on CITES, which prohibits the commercial trade of endangered species and their derivatives.
“Both Nigeria and Cameroon are signatories to this convention.”
Abdullahi said that the Navy, under the leadership of the Chief of the Naval Staff, Vice Adm. Emmanuel Ogalla would continue to tackle all forms of illegal activities within the waterways, thereby improving the National image of Nigeria Internationally.
Receiving the suspects, items and boat, Deputy Superintendent of Customs, Dada Fagbola, said that the suspects would be investigated for necessary prosecution
The Academic Staff Union of Universities (ASUU) has awarded scholarships to 12 academically outstanding but financially disadvantaged indigents students across its Bauchi Zone.
The Bauchi Zone includes: Abubakar Tafawa Balewa University (ATBU), Sa’adu Zungur University (SAZU) Bauchi.
Others are Gombe State University, Federal University Kashere, University of Jos and Plateau State University Bokkos.
During the presentation held at the ASUU Secretariat, SAZU Bauchi on Saturday, the 12 beneficiaries received cheques worth ₦200,000 each from the national body of the Union.
Prof. Christopher Piwuna, Convener of the ASUU Grant, Research and Publications Committee was represented by Prof.
Lawan Abubakar, the immediate past Zonal Coordinator.Piwuna explained that the scholarships aimed to support brilliant students who were hindered by financial hardship.
“This initiative was born out of the need to counter the government’s rising imposition of school charges, which continues to burden students and their families,” he said.
Piwuna added that ASUU believed that such financial aid should be a grant, not a loan, noting: “We don’t expect any repayment from the beneficiaries or their parents.”
Prof. Namo Aku, the Zonal Coordinator, said that while the national body supported 12 students, the six universities in the zone collectively sponsored additional 18 indigenous students.
“ATBU and Gombe State University sponsored five students each, Plateau University and University of Jos sponsored two each, while SAZU and Federal University Kashere sponsored two students apiece,” he said.
Aku emphasized that ASUU’s mission includes supporting the less privileged through collective contributions from lecturers who are passionate about students’ success.
Speaking on behalf of the beneficiaries, Bappa Salisu, a Pharmacy student at SAZU, expressed gratitude to the Union.
“We are deeply thankful for this opportunity. It motivates us to work harder and live up to the expectations of those who believe in us,” he said
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