The Nation Newspaper

Category: Energy

  • Nigeria’s non-oil exports hit $1.79bn in Q1 2025 — NEPC

    Nigeria’s non-oil exports hit $1.79bn in Q1 2025 — NEPC

    The Executive Director of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, has revealed that Nigeria’s non-oil export performance for the first quarter of 2025 reached US$1.791 billion, marking a 24.75% increase from the US$1.436 billion recorded in the same period in 2024.

    Speaking during the presentation of the Q1 non-oil export progress report in Abuja, Ayeni also noted a significant rise in export volume, which climbed to 2.416 million metric tonnes — a 243.44% increase compared to the 1.937 million metric tonnes reported in Q1 2024.

    She attributed the growth to the success of the Council’s various export intervention programmes, particularly the “Double Your Exports” campaign.

    Ayeni further disclosed that 197 distinct products were exported in the first quarter of 2025, up from 162 products in the same period the previous year.

    She said, “In the presentation of the 2024 non-oil export performance in January last year, the Nigerian Export Promotion Council (NEPC) reported the highest value of export since it was established 49 years ago with a year-on-year increase of 20.77% from US$4.517 billion in 2023 to $5.456 billion in 2024. 

    “The Council working with our supervising ministry, Ministry of Industry, Trade and Investment other stakeholders remains committed towards continuing this trajectory of increasing the volume and value of non-oil exports from Nigeria by providing support to the exporting community in the areas of capacity building, standardization, enhancing market access and others. 

    “Products exported range from manufactured and semi-processed goods, to industrial extracts, and agricultural commodities, amongst others.

    “Based on information received from Pre-shipment Inspection Agents (PIAs), of the top-20 products exported in the first quarter of 2025, Cocoa and its derivatives including cocoa butter, cocoa liquor, cocoa cake came first, followed by Urea, Cashew Nut, Sesame Seed, Gold Dore, Cocoa Butter, Aluminium Ingots, Copper Ingot, Soya Beans/meal, Rubber were the top of the list.

    Read Also: NEPC: Women lead 32% of SMEs in Nigeria

    “These products ranged from the top commodity in terms of total non-oil export, accounting for 45.02% was Cocoa Beans. Urea/Fertilizer held the second position at 19.32% while Cashew Nuts came third with 5.81% of the total exported products. Performing exporting companies are, Indorama Eleme Fertilizer and Chemical Limited and Starlink Global & Ideal Limited maintained their position as the first and second with 12.07% and 10.00%, respectively. This is attributed to their notable export values of fertilizer and Cocoa products”, she said.

  • NUPRC boss Komolafe puts Nigeria on global energy map, earns praise ahead of London awards

    NUPRC boss Komolafe puts Nigeria on global energy map, earns praise ahead of London awards

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its chief executive, Gbenga Komolafe, have received nominations in two key categories at the 2025 Africa Energies Summit Awards, set to hold on May 15, in London.

    The Commission is shortlisted for the Rhino Award, which honours Africa’s top-performing regulators or national oil companies, while Komolafe is nominated for the Elephant Award, which recognises individuals making significant contributions to the continent’s energy advancement.

    In response to the nominations, a civil society group, the Alliance for Sustainable Energy Governance in Africa (ASEGA), commended Komolafe for the recognition, describing it as “a timely affirmation of Nigeria’s evolving stature in Africa’s energy sector”.

    ASEGA, which describes itself as a network of professionals, researchers, and community-based advocates focused on energy governance, said the nominations underscore the progress made by the NUPRC under Komolafe’s leadership since its creation in 2021.

    “The nomination of Engr. Komolafe and the Commission points to one thing: strategic, consistent reform works,” said Alhaji Ibrahim Bello Kura, the coalition’s national president, in a statement on Tuesday.

    “It reflects a growing perception that Nigeria’s upstream sector is now more transparent, more predictable, and far more efficient than it was just four years ago.”

    During his Senate screening in 2021, Komolafe pledged to build “a 21st-century regulator and the leading upstream regulator in Africa.” 

    ASEGA said the nominations were evidence that this vision is being realised.

    “At the time of his Senate clearance, many may have viewed his ambition as aspirational. But today, there is measurable progress. From data-driven regulation to investor confidence and better governance mechanisms, the NUPRC has set a new standard,” the coalition said.

    ASEGA added that the recognition at a continental event with global visibility highlights how Nigerian institutions can gain respect through impactful reforms. 

    “We now have an upstream regulator that others across Africa are studying, not out of courtesy, but out of a need to replicate results,” the group noted.

    “These awards go beyond prestige. They recognise how the NUPRC has translated complex mandates into clear outcomes. They validate the argument that public institutions can be effective and respected, if properly led.”

    Read Also: Oil and Gas Integrity Forum hails NUPRC, Komolafe for driving PIA success

    The coalition credited Komolafe’s leadership for the agency’s upward trajectory. 

    “What we’re seeing is the outcome of stable, focused leadership. This nomination does not belong to one individual, but Komolafe’s role in establishing institutional direction cannot be overstated.”

    ASEGA also referenced the Commission’s recent data on hydrocarbon reserves, which it said show improved sector confidence. 

    In 2025, NUPRC reported oil reserves of 37.24 billion barrels and gas reserves of 210.5 trillion cubic feet, with a projected reserve life of 64 and 93 years respectively. 

    The Commission also launched initiatives aimed at raising Nigeria’s oil production by one million barrels per day.

    “Statistical improvements alone don’t tell the full story. But when you connect those figures to regulatory actions, you see a pattern of deliberate policy execution. That’s what’s being recognised in London.”

    According to ASEGA, the global nature of the summit makes the nominations particularly meaningful. 

    “This is not just a local commendation. These are peers and observers from across Africa and the global energy space. When they choose to nominate a Nigerian regulator and its chief executive, that sends a signal.”

    The coalition urged the Commission to stay focused on long-term institutional reforms rather than see the recognition as an endpoint. 

    “There’s still more work ahead. But this shows that the direction is right,” ASEGA added. 

    The Africa Energies Summit, now in its 29th edition, is expected to convene energy leaders, regulators, and policymakers from across the continent. 

    Other nominees for the Rhino Award include PETROCI (Côte d’Ivoire), ANPG (Angola), ANP-STP (São Tomé and Príncipe), SMH (Mauritania), and PETROSEN (Senegal). 

    Komolafe joins a shortlist for the Elephant Award that includes senior officials from ExxonMobil, Angola’s ANPG, Uganda’s Petroleum Authority, and Madagascar’s OMNIS.

    The awards will feature keynote addresses from Gayle Meikle, CEO of Frontier, and Maggy Shino, Petroleum Commissioner of Namibia, among others.

  • Lawyers, CSOs storm NNPCL with FOI request on Kyari’s tenure

    Lawyers, CSOs storm NNPCL with FOI request on Kyari’s tenure

    A coalition of lawyers and civil society organizations (CSOs) on Tuesday submitted a Freedom of Information (FOI) request to the Nigerian National Petroleum Corporation Limited (NNPCL), seeking full disclosure on the status of refineries refurbished during the tenure of Mele Kyari, the former Group Chief Executive Officer.

    The Concerned Citizens Against Corruption, leading the coalition, demanded transparency and accountability on the reported expenditure of $4 billion on refineries repairs. 

    Led by Comrade Ogwuche Emmanuel,  the group alleged inflation of refineries rehabilitation contracts, fraudulent allocation of crude oil proceeds, misappropriation of funds and other questionable practices during Kyari’s tenure from July 2019 to April 2025.

    The FOI request seeks specific details on payments to consultants and contractors, crude oil allocations, budgetary provisions for the AKK Pipeline Project, documentation on gasoline imports, and information on crude-backed loans and oil exploration activities.

    The group emphasised the need for accountability and restoring public trust in NNPCL’s operations. 

    They urged the NNPCL to provide the requested information within the stipulated timeframe under the Freedom of Information Act.

    “We are concerned about the growing reports of monumental Inflation of the Refineries Rehabilitation Contracts with allegations that the costs of refurbishing the refineries were significantly inflated, Fraudulent Allocation and Mismanagement of Crude Oil Proceeds, Misappropriation of Funds in the AKK Gas Pipeline Project, Fuel Subsidy Fraud, Value Review for NNPCL’s Crude-Backed Loans,  and Fraudulent Oil Exploration Activities that have yielded no benefits to the nation,” the letter signed by Comrade Ogwuche Emmanuel said. 

    Read Also: Protesting lawyers demand probe of Kyari’s tenure at NNPCL

    “Our findings, supported by reliable intelligence, suggest a pattern of institutionalising of these questionable practices during Mallam Kyari’s tenure. As an organisation of law-abiding Nigerians, who are affected by these identified issues, we require information to seek judicial intervention. 

    “Consequently, we require the following information from July 1, 2019 to April 29, 2025: Specific details of payments to consultants and contractors, work scopes, and the justification for payments for the Port Harcourt, Warri and Kaduna Refineries. 

    “Information regarding crude oil allocations and financial transactions under the guise of pipeline security payments. Details of the budgetary provisions, foreign financing arrangements, and physical progress of the AKK Pipeline Project. 

    “Documentation including ship records, bills of lading, and discharge certificates for gasoline imports during the stated period. Information regarding the structure, terms, and purposes of crude-backed loans taken from 2019 to date. 

    “Documentation and feasibility outcomes of oil exploration activities in Gombe, Bauchi, Ogun, and Nasarawa states. Given the gravity of the allegations that necessitated this request, it is imperative that the NNPCL provides full transparency on the expenditures and activities undertaken during Mallam Kyari’s tenure”.

  • Expert proposes modular homes for Nigerians

    Expert proposes modular homes for Nigerians

    A building expert, Adepeju Sanusi, has proposed modular homes for Nigerians, saying it remains the smart solution for future of Nigerians.

    According to her, traditional building method alone can not address housing deficit in Nigeria because of its rising construction costs, lengthy construction times and it’s economic pressures demand innovation solution, hence, the need for modular homes.

    Sanusi, a construction project management professional and graduate researcher at The Catholic University of America Washington DC, lamented many Nigerians are yet to know the potential of modular homes, calling on developers, policymakers, financiers, and every Nigerians to be open to the possibilities of modular homes.

    She urged Nigerians to encourage development of local modular manufacturing industries, update housing regulations to embrace off-site construction and educate home-buyers about benefits of this modern method, which not only provides homes but also create job.

    According to her: “Modular homes are permanent houses built in sections called modules. They are produced in a factory, then transported to the construction site and assembled to form complete, high-quality homes.

    “They can be customised to suit different family sizes, budgets, and tastes and meet the same building standards as conventional. Unlike traditional construction, which requires several months (or even years to complete, modular homes can be built and installed faster, reducing the time required for conventional construction activity.

    Read Also: Self-growth key to success, say experts

    “Modular homes use streamlined production processes, thereby reducing waste, lower labor costs, and efficient materials use. These savings can translate into more affordable housing options for everyday Nigerians.

    “Modular homes, unlike temporary shelters, are strong, permanent structures designed to withstand the challenges of Nigeria’s climate-from heavy rains to extreme heat-and have the potential to last the lifespan of traditional buildings.

    “Modular homes can be customized to individual preferences, from cozy bungalows to duplexes to multi-family units. Many modular homes are now designed with energy save on electricity bills and contributing to Nigeria’s broader climate goal.

    “Modular homes are not the same as tiny homes or container conversions. They are not temporary shelters. They are not second-rate. Once installed, they are legally and physically identical to traditional site-built houses and eligible for standard financing and insurance (with the right partners).”

  • Protesting lawyers demand probe of Kyari’s tenure at NNPCL

    Protesting lawyers demand probe of Kyari’s tenure at NNPCL

    A group of lawyers stormed the Federal Ministry of Finance on Monday to demand a judicial commission of inquiry into the tenure of Mele Kolo Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL).

    The lawyers under the aegis of the Guardian of Democracy And Rule of law, who submitted a petition to the Ministry, alleged that Kyari’s leadership was marked by monumental corruption, tax evasion, abuse of office and misappropriation of public funds. 

    Led by Barrister Benjamin Theophilus, the lawyers  cited several areas of concern, including the alleged inflated cost of refineries rehabilitation contracts, fraudulent allocation of crude oil proceeds, misappropriation of funds in the AKK Gas Pipeline Project, fuel subsidy fraud and value review for NNPCL’s crude-backed loans.

    According to the petition, NNPCL under Kyari’s leadership spent over $4 billion on refineries repairs, contrary to an initial proposal of $1 billion for all three refineries. 

    “Mele Kyari is alleged to have collaborated with certain consultants and contractors involved in the refineries rehabilitation projects to conceal the actual cost of the contracts and evade taxes due to the Federal Government,” the petition stated. 

    “Seven years ago, there was a proposal by a consortium of private sector firms to repair the 3 refineries, with a total capacity of 445 kbpd (thousand barrels per day) for about $1 billion. 

    “NNPCL under Mele Kyari has expended $1.5 billion on the Port Harcourt Refinery, $1.5 billion on the Warri Refinery and $1 billion on the Kaduna Refinery bringing the total of what Kyari spent on the refineries to more than $4 billion as opposed to the $1 billion that the consortium has requested for all the refineries. 

    “Even after expending these inflated sums, the refineries are unable to produce gasoline without using large quantities of chemicals from Indorama. This is a monumental project cost inflation as about $500 million is sufficient to build a brand new simple 600 kbpd refinery that will operate at a better efficiency. 

    “There is credible information that crude oil allocations were diverted, and financial transactions were carried out under the guise of ‘pipeline security”’at a suspicious rate of 80,000 barrels per day, with no transparent process or accountability mechanism. 

    “The AKK Pipeline Project, initially valued at $5 billion has been riddled with irregularities in the award and execution of contracts. Despite several budgetary provisions and foreign financing arrangements, there is little physical progress or transparency in fund utilisation.

    “There have been repeated allegations of fraud tied to the payment of fuel subsidy. It is instructive to note that while the rest of the world witnessed a decline in fuel consumption in 2020 due to COVID, NNPCL increased its imports of petroleum products during the same period. 

    “Under Mele Kyari, NNPCL took various crude-backed loans which hit $21.565 billion since 2019. Aside from mortgaging future production, the structure of these loans disadvantage Nigeria as upside from trading Nigeria’s crude in the international market was ceded to traders.“

    The lawyers demanded a thorough investigation into the payments made to consultants and contractors handling the refineries, as well as the work scopes and delivery of the projects.

    Read Also: Arewa coalition urges ex-NNPC boss Kyari to submit to judicial probe

    The protesters also alleged that crude oil allocations were diverted and financial transactions were carried out under the guise of “pipeline security” without transparent processes or accountability mechanisms. 

    They further claimed that the AKK Pipeline Project was riddled with irregularities in the award and execution of contracts.

    The lawyers urged the Ministry to constitute a judicial commission of inquiry into Kyari’s tenure, investigate the failure of past audit reports, and collaborate with relevant government institutions to recover public funds if found to have been misappropriated. 

    They also demanded that the Federal Inland Revenue Service (FIRS) probe suspected tax evasion and fraudulent declarations.

  • Oil and Gas Integrity Forum hails NUPRC, Komolafe for driving PIA success

    Oil and Gas Integrity Forum hails NUPRC, Komolafe for driving PIA success

    The Nigeria Oil and Gas Integrity Forum has applauded the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its “critical and patriotic role” in ensuring the successful implementation of the Petroleum Industry Act (PIA), a law widely regarded as a turning point for Nigeria’s oil and gas sector.

    In a statement issued on Saturday, the forum’s President, Vivian Okorafor, emphasised that the PIA’s passage would have had little impact without the “visionary, competent, and firm regulatory leadership” shown by the NUPRC under the guidance of Engr. Gbenga Komolafe.

    “The PIA was a monumental achievement, but the real success story is what followed. Without the solid and transparent enforcement of the law by NUPRC, we would still be grappling with regulatory uncertainties, capital flight, and investor distrust. Today, because of strong leadership at the NUPRC, Nigeria’s upstream sector has regained the confidence of both local and international investors,” the statement read.

    The forum also praised Komolafe for creating a regulatory environment that promotes growth instead of serving as a bureaucratic bottleneck. It noted that under the NUPRC’s leadership, key investment indicators in the sector have shown steady and positive progress.

    “In the past, regulatory opacity drained our oil industry of investments. But the NUPRC under Engr. Komolafe has reversed that trend. Transparent bid rounds, clear licensing processes, streamlined procedures — these have restored faith in Nigeria’s petroleum sector and placed us on a competitive global footing once again,” Okorafor said.

    She also highlighted the Commission’s focus on promoting Nigerian content and encouraging indigenous companies, saying these steps were crucial for broad-based economic development.

    “One of the quiet revolutions happening under the NUPRC is the deliberate empowerment of indigenous operators. For the first time in decades, we are seeing more Nigerian companies participating actively in the upstream space, thanks to policies that favour transparency, merit, and homegrown expertise,” she said.

    The forum further applauded NUPRC’s introduction of digital platforms that have simplified regulatory compliance, boosted efficiency, and reduced corruption in the oil and gas sector.

    “Technology is now being deployed smartly to plug leakages. Licensing, reporting, and monitoring are now largely digital, making it difficult for underhanded dealings to thrive. This is part of the transformational thinking that the NUPRC leadership has brought into the regulatory ecosystem,” she added.

    Okorafor noted that one of the most critical impacts of the PIA implementation has been the new fiscal regime that now makes Nigeria a more attractive destination for upstream investments compared to the pre-PIA era.

    “Before the PIA and the new fiscal frameworks enforced by NUPRC, Nigeria was losing out to other African nations like Angola and Ghana,” she explained.

    “Today, our fiscal terms are competitive again, our procedures are predictable, and the regulatory environment is much more investment-friendly.”

    Calling on President Bola Tinubu to continue to support independent regulatory institutions like the NUPRC, the forum urged stakeholders across the sector to work hand-in-hand with the Commission to consolidate the gains achieved so far.

    “We urge Mr. President to shield institutions like the NUPRC from political interference. Nigeria must build strong institutions, not strong individuals. Komolafe and his team have shown what can happen when professionalism is allowed to lead. We must nurture and protect that.”

    She concluded by noting that while challenges remain in the oil and gas industry, Nigeria is “finally on the right path”, thanks to the PIA and the leadership shown by NUPRC.

    “No law is perfect. No reform is ever completely painless. But with the NUPRC’s firm handling of the PIA, Nigeria has a chance to write a new chapter in its oil and gas history — one marked by transparency, growth, and shared prosperity.”

    The Nigeria Oil and Gas Integrity Forum pledged to continue monitoring developments in the sector and supporting initiatives that deepen transparency, expand opportunities, and ensure Nigeria’s energy wealth benefits all citizens.

  • Kyari brought structure, stability to NNPCL – NDYC

    Kyari brought structure, stability to NNPCL – NDYC

    The Niger Delta Youth Congress (NDYC) has commended Mele Kyari for providing stability and strategic leadership during his tenure as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).

    NDYC, in a statement by its national coordinator, Comrade Israel Uwejeyan, dismissed calls by a group called “Concerned Citizens Against Corruption” for Kyari to be probed.

    Uwejeyan described the statement as an “orchestrated campaign of calumny” designed to discredit Kyari’s achievements in office.

    The NDYC highlighted several achievements during Kyari’s leadership, including the transformation of the NNPCL into a commercially-oriented entity, rehabilitation of refineries through public-private partnerships, combating oil theft through strategic security collaborations, advancing the “Decade of Gas” initiative, attracting international investment, and implementing digital modernization across operations.

    According to the youth organisation, accusations regarding secretive debt arrangements with third-party companies like Matrix Energy demonstrate a fundamental misunderstanding of standard petroleum trading practices.

    Read Also: NDYC faults call to probe Kyari

    The NDYC maintained that oil lifting contracts and similar agreements are standard industry instruments subject to regulatory oversight.

    Uwejeyan urged the Attorney General to disregard what they termed a “sponsored circus” against Kyari, suggesting instead that his leadership should be studied as an exemplary case of corporate transformation and energy sector development.

  • NNPCL: Lawyers storm AGF’s office as protest for probe of Kyari enters Day two

    NNPCL: Lawyers storm AGF’s office as protest for probe of Kyari enters Day two

    Over 500 anti-corruption lawyers on Wednesday stormed the office of the Attorney General of the Federation (AGF) at the Ministry of Justice in Abuja to demand the immediate probe of Mele Kyari, the erstwhile Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL).

    The lawyers, under the aegis of the Guardians of Democracy and Rule of Law, said they were out to rid the nation of corruption especially in the oil industry. 

    According to a petition co-signed Barrister Emmanuel Agada and Jonathan Uchendu, the lawyers lamented that Kyari’s leadership of the NNPCL was plagued with countless allegations of corruption over the alleged opaque way he ran the organisation. 

    The lawyers cited the controversy surrounding the rehabilitation and restreaming of government-owned refineries, where billions of dollars were spent but the figures and facts do not add up.

    The petition highlighted the case of a oil firm, which allegedly invested $400 million in the rehabilitation of the Port Harcourt Refinery, even as the Federal Executive Council had approved $1.5 billion for the repairs of the same facility. 

    The NNPCL, they alleged, is owing the firm more than $2 billion, with the debt being serviced through daily crude oil allocations to Matrix Energy that are not being paid for.

    The lawyers demanded that the AGF review all agreements entered into by the NNPCL under Kyari’s administration, launch a fact-finding investigation into the questionable transactions, and institute a commission of inquiry into the NNPCL’s handling of the refineries’ repairs under Kyari.

    The protesting lawyers vowed to continue their agitation until Kyari is brought to justice and the truth about the alleged corruption is uncovered.

    The petition added: “The Guardians of Democracy and Rule of Law strongly believe that getting to the root of this matter will help the Federal Government to account for how public resources were squandered on the controversial refineries’ repairs undertaken under the Kyari leadership.

    “In view of the facts stated above, we request that the Minister of Justice and Attorney General of the Federation to immediately review all agreements entered by the NNPCL under the Mele Kyari administration.

    “An investigation into the questionable transactions would also point the government in the direction of what funds to recover and from whom, which is sorely needed now considering Nigeria’s economic condition. 

    Read Also: NNPCL: Ojulari’s ambitious five-year $60bn investment agenda

    “Furthermore, investigating all that transpired will set the stage for holding even the current leadership accountable while equally identifying potential pitfalls for those who are now in charge so that Nigeria is not caught in a loop of repeating the same mistakes. 

    “A fact-finding investigation be launched to ascertain how much the Federal Government has lost to such agreements and recommendations on concrete steps to recover identified funds. We demand for an immediate judicial review of all matters related thereto.

    “The Guardians of Democracy And Rule of Law will appreciate it if the Minister of Justice and Attorney General of the Federation can escalate the issue to a point where the Federal Government institutes a commission of inquiry into NNPCL’s handling of the refineries’ repairs under Kyari and the sacked board. “

    A deputy Director at the office of the AGF, Winifred Adekunle, who received the petition promised to deliver it to the Justice minister and assured them that prompt action will be taken.

  • Protesters demand prosecution of ex-NNPCL CEO Kyari

    Protesters demand prosecution of ex-NNPCL CEO Kyari

    A group of protesters, Concerned Citizens Against Corruption, stormed the office of the Attorney General of the Federation and Minister of Justice on Tuesday to demand the prosecution of former Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Mele Kyari, and a thorough investigation into the company’s transactions for the past five years.

    The protesters, led by its Convener, Comrade Kabir Matazu, expressed disappointment that despite President Bola Tinubu’s sack of Kyari and the entire NNPCL board on April 2, 2025, no steps have been taken to investigate the alleged corrupt practices under Kyari’s leadership.

    The group highlighted the controversy surrounding the rehabilitation and restreaming of government-owned refineries, citing allegations of billions of dollars being spent without transparency. 

    They also pointed out a perplexing issue where NNPCL is reportedly owing Matrix Energy over $2 billion, with the debt being serviced through daily crude oil allocations.

    “It is on record that this sack of the erstwhile corrupt leadership of the NNPCL drew applause from Nigerians, especially groups like our, which had been at the forefront of demanding accountability and transparency in the running of institutions,” Matazu said.

    “It is also of note that in Mele Kyari leadership of the NNPCL was plagued with countless and endless allegations of corruption owing the opaque way he ran the place, more of a racket in favour of his friends and associates. 

    “This handling of the place was so suffocating to the national economy that Nigerians were taking to the streets to demand Kyari’s removal from the job, which Mr President eventually acceded to.  

    “However, Nigerians are disenchanted that Mr President has only stopped at removing the former leadership without taking steps to investigate how the Kyari and his cabal bled this country dry in various ways, which we believe is still hurting the country economically as we speak. 

    “In this regard, a sore point is the fraud surrounding the rehabilitation and the restreaming of the government owned refineries. The figures and the facts are simply not adding up. 

    “In addition to the billions of dollars that the Kyari-led administration claimed to have spent on fixing the refineries, it also claimed that one of his fronts, Matrix Energy Limited invested $400 million in the rehabilitation of the Port Harcourt Refinery. This is even as the Federal Executive Council had approved $1.5 billion for the repairs of the same facility. 

    Read Also: NNPC: Ojulari takes over from Kyari, seeks management, staff support to attain enormous targets 

    “But there are even more perplexing issues emerging. The NNPCL is now reportedly owing Matrix Energy more than $2 billion. This debt is being serviced through daily crude oil allocations to Matrix Energy that are not being paid for. 

    “What we are talking about here is a daily allocation of 80,000 barrels of crude oil to a non-state actors running a security outfit. 

     “There are consequently posers that require urgent clarifications. Why and how is the Federal Government through the NNPCL owing Matrix Oil $2 billion? Why is the debt being paid with daily supply of crude oil? Who were the parties to the negotiations of this satanic deal? Why are Nigerians being kept in the dark? 

    “The Concerned Citizens Against Corruption strongly believes that getting to the root of this matter will help the Federal Government to account for how public resources were squandered on the controversial refineries’ repairs undertaken under the Kyari leadership. 

    “An investigation into the questionable transactions would also point the government in the direction of what funds to recover and from whom, which is sorely needed now considering Nigeria’s economic condition. 

    “Furthermore, investigating all that transpired will set the stage for holding even the current leadership accountable while equally identifying potential pitfalls for those who are now in charge so that Nigeria is not caught in a loop of repeating the same mistakes. 

    “In view of the foregoing, the Concerned Citizens Against Corruption calls on the Minister of Justice and Attorney General of the Federation to immediately review all agreements entered by the NNPCL under the Mele Kyari administration. 

    “This investigation should find out how much the Federal Government has lost to such agreements and recommendations on to recover identified funds. We demand for an immediate judicial review. “

    The Concerned Citizens Against Corruption called on the Minister of Justice to escalate the issue to a point where the Federal Government institutes a commission of inquiry into NNPCL’s handling of the refineries’ repairs under Kyari and the sacked board.

    The protesters vowed to continue demanding accountability and transparency in the running of institutions, emphasizing that Nigerians deserve to know the truth about the alleged corrupt practices under Kyari’s leadership.

  • Group applauds Tinubu for reconstitution of NNPC board

    Group applauds Tinubu for reconstitution of NNPC board

    A prominent Niger Delta group, Community Development Committees (CDC) of  Niger Delta Oil and Gas Producing Areas, has  commended President Bola Tinubu for changing the leadership of  Nigeria National Petroleum Corporation Limited (NNPCL).

    The body tasked Engr. Bayo Ojulari’s team to fashion out  best ways to make the Corporation more viable and functional to the expectations of Nigerians.

    In a statement by the Chairman, Board of Trustee, Community Development Committee of Niger Delta Oil and Gas Producing Areas, Comrade Joseph Ambakederimo, the group said the change of the management of the organisation was long over due since the beginning of this administration.

    It blamed the sacked board of not enforcing fair pricing policy after the Federal Government’s  decision to remove fuel subsidy. 

    It noted that for the company to thrive and bring it to par with other National oil companies around the world, the corporation, among other issues, must see that the cost of production of barrel of crude oil is brought to an  acceptable level that will compete favorably with other producing countries just as it said , there is need for an  increased production of Nigeria’s crude barells per day.

    The body advised that the four refineries should be made to function optimally to make  the  products available for Nigerians.”

    It expressed the need for the review of  surveillance  contract saying, apart from the fact that, many Nigerians are worried over four Hundred Billions Naira  paid yearly on it, it is embarked upon by Non-state actors who have little or no technological know-how and capacity to handle such a complex work in a volatile region as many pipeline breaches still occur and  becoming rampant across the region.  

    The statement reads in part: “The Community Development Committees of Niger Delta Oil and Gas Producing Areas (CDC) applauds President Bola Tinubu for the change of leadership at Nigeria National Petroleum Corporation Limited (NNPCL)”

    “The change of management at the NNPCL was overdue , the CDC had called for this change since the beginning of this administration. We noted instances where Nigerians were losing hope, on a daily basis, over the corporation’s inability to effect a fair pricing policy after the removal  of petrol subsidy  by resorting to prayers, to solve to solve our challenges”.

    “While commending President Bola Tinubu for rejiging the corporation’s management, we hope that the new team will bring their corporate oil industry experience to bear on their assignment. Going forward, however is to set an actionable agenda for the new team for  purposes of clarity on the way forward for the company to thrive and bring it to par with other National oil companies around the world. 

    “Firstly amongst  other is the issue of how quickly can the cost of production of a barrel of crude oil be brought to an acceptable level that will compete favourably with other oil producing countries. 

    Read Also: NNPC unfolds plan to attract $30b investments in 2027

    “We have as low as production cost of between ten to twelve United state dollars per barrel of crude oil in some African countries compared to our high cost of production of about forty United States dollars in Nigeria, this certainly cannot be attractive to investors as it places Nigeria at a disadvantage position. 

    “Therefore the cost of production must be brought down to attract what would be referred to as “New Money” (investment) into the sector.

    “The other pressing issue is increased production of our Barrels.  For  us we will set an ambitious target of somewhere around five (5) Million Barrels per day of crude oil in the next ten years. Anything less than five Million barrels per day of crude oil production in Nigeria today does not make economic sense because it will not wedge the ever increasing expenditure profile of the government. 

     “Large volume production will bring in more Foreign Exchange, more FX inflow in to  the coffers of the Central Bank of Nigeria will bring down the exchange rate of the Dollar and more resources for the development of critical infrastructure at all levels of government.

    “Going forward on this,  the Executive Order signed by President Bola Tinubu should be invoked to the fullest without reservations, this will stimulate and  quicken the  completion process of upcoming Deep water  tenders that will in turn increases the barrels”.

    “The state of the refineries is another big issue that has brought shame to us as a country of immense wealth by crude oil volumes vis-a-vis our trajectory to becoming a net importer of refined Petroleum products”l. 

    “This team is enjoined to take a critical look at what are the issues with the refineries that can’t function optimally. We want to to see the NNPCL four major refineries working optimally including others been encouraged to function optimally by providing the needed feedstock to fire them for the good of the country”

    “Also another area crying for attention that needed to be reviewed is the pipeline surveillance contract. The question that is agitating the minds of many Nigerians is the justification of the continued payment of humongous amount of money up to the tune of Four Hundred Billion yearly to Non- state actors whom have little or no technological know-how and capacity to undertake such a complex work in a volatile region when many pipeline breaches still occur and are becoming rampant across the region. 

    “With benefit of hindsight the Nigeria Liquified Natural Gas Company (NLNG) are having issues to contend with regarding supply of gas to its customers. The company keeps having shortfall of gas due largely to pipeline breaches as alluded by the company’s Managing Director Dr. Philip Mshelbila. 

    “The country is losing an appreciable amount of revenue in that runs into millions of dollars that should have  accrued to the Federal government by ways of dividends. 

     “We  have to look the way of technology in the area of Artificial Intelligence applications, this application is abound everywhere and ready to be deployed. 

     “The Bayo Ojulari’s  team is therefore urged to stop the pipeline surveillance contracts in whole or review the pipeline surveillance contract either by ways of expanding the scope to bring in all of the principle actors whom have felt left out of the patronage by the NNPCL. 

    “Many of the principal actors are the operators of the unlicensed refineries and are partly responsible for these pipeline breaches to steal crude oil. The Bayo Ojulari’s  team is advised to face the idea of security to NNPCL critical assets as one of their priorities and accommodate more or expanded stakeholders in the process. 

    “In  finding a fool-proof strategy to mitigate and forestall crude oil theft the Community Development Committees of Niger Delta Oil and Gas Producing Areas (CDC) is advocating to the government to provide alternative incentives to pipeline vandals and operators of the unlicensed refineries to embrace dialogue that will lead to measures that will enhance their own economic well-being. 

     “The CDC is already in talks with many of the unlicensed refineries operators and the discussions that we have had  are promising, therefore as we continue this engagement with the unlicensed refineries operators, we use this medium to invite the Bayo Ojulari’s  team to be part of the discussions in order to find a lasting solution to this very embarrassing situation. 

    “It is our hope that the new  management will also use a fine-tooth comb to comb through the forward sales of millions of barrels of crude oil to ascertain claims made by the previous management to at least bring it to speed to Nigerians for purposes of clarity and expectations on the part of Nigerians to be acquainted of what the  numbers of our debt profile are as it  relates to our oil production.”