Tag: NNPC

  • Work to begin on NNPC Aba depot road

    Construction work on the road leading to the Nigeria National Petroleum Corporation (NNPC) in Osisioma LGA of Abia State will soon commence.

    Ekeakpara- NNPC Depot – Owerrinta road which serves as alternative route to Aba-Owerri expressway has been in a bad state over the years over failure of the past administration to look into it.

    Checks by our reporter revealed that lots of truck owners had lamented the poor state of the road which serves as a major entrance and exit route to Osisioma LGA headquarter and NNPC Aba depot.

    Governor of the state, Dr. Okezie Ikpeazu, while receiving in audience a delegation of the leadership and stakeholders of the NNPC Depot, Osisioma, who came to pay him a courtesy visit at the governor’s lodge in Aba, said that reconstruction work on the road will start within the coming week.

    Read Also: NNPC to change JV payment structure

    A release by Mr. Onyebuchi Ememanka, the Chief Press Secretary to the Governor, Mr. Onyebuchi Ememanka, said his administration can no longer wait for the federal government whose responsibility it is to fix the federal road.

    Ikpeazu regretted that the road which was hitherto known as the Old Aba Owerri Road has subjected the people of our state who live and do their business around that area to untold hardship.

    The road which criss-crosses the two local governments of Osisioma Ngwa and Isiala Ngwa South, the governor noted, bears great economic significance as it is the gateway into the sprawling Osisioma Industrial Area and most importantly, the only NNPC Depot in Abia State.

    Earlier, the leader of the delegation and chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Aba Depot Branch, Prince Bobby Eberechi Dick, told the governor that they came to, first, congratulate him on his re-election and wish him well in his second tenure and also to draw his attention to the deplorable situation of the Ekeakpara NNPC Depot Road, a situation that has made their business very difficult. He pleaded with the governor to kindly intervene even as the road is a federal road.

  • NNPC concludes payment of cash-call to Mobil

    Barely two years after the Nigerian National Petroleum Corporation (NNPC) signed a Cash-call Repayment Agreement with its Joint Venture partners to defray cash-call arrears within a period of five years, the Corporation has fully settled the total amount owed to Mobil Producing Nigeria (MPN) with a payment of $833.57m.

    The Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, stated this in a statement made available to reporters.

    According to Mr. Ughamadu, the Managing Director of NNPC, Dr. Maikanti Baru, who spoke at a commemorative close-out ceremony to mark the conclusion of NNPC/MPN Cash Call Repayment Agreement, disclosed that the feat was a product of determination and hard work.

    Baru stated that NNPC management came up with the novel cash-call exit strategy to boost investors’ confidence and grow the nation’s oil and gas industry, adding that the payment did not in any way undercut remittances to the Federation Account as it was achieved through revenue from incremental production.

    “It is gratifying to note that within two years of this agreement, the NNPC/MPN JV significantly executed in incremental activities that generated adequate proceeds to liquidate the $833.57 million cash-call arrears, whilst ensuring that revenue flow from the JV to the Federation remained stable,” the GMD stated.

    Read also: How to avert fuel scarcity, by NNPC

    He explained that with the close-out of the repayment agreement, the entire incremental production which is over 45,000 barrels of oil per day (bopd) has been migrated to Federation’s equity and would invariably lead to an increase in revenue to the Government.

    Baru acknowledged the support of President Muhammadu Buhari and some relevant agencies in achieving the speedy execution of the repayment plan, adding the next level “is for NNPC and MPN to within two years, migrate the Joint Venture (JV) into an Integrated Joint Venture (IJV) with its Board operating independently and paying dividends to its shareholders”.

    Managing Director of the Mobil Producing Nigeria, Mr. Paul McGrath said the milestone was a victory for MPN, NNPC and Federal Government of Nigeria.

    MacGrath commended Dr. Maikanti Baru for driving a transparent system that brought about the early close-out of the repayment agreement, stressing that MPN had no more fear or reservation in dealing with NNPC in future projects.

    “I would like to commend the leadership team of the NNPC, especially the Group Managing Director, Dr. Maikanti Baru, for his strong and relentless leadership that has resulted in the resolution of what was becoming an intractable matter. This is in addition to other noteworthy contributions he has made to the advancement of the industry since assuming office,” the MPN boss said.

    The high point of the event was the official signing of Deed of Settlement of Pre-Production Costs for Usan in OPL 222/OML 130 at a negotiated cost of about $1.076billion as against initial $1.45billion cost.

  • Give priority to Ijaw job seekers, IYC urges NNPC

    The Ijaw Youths Council (IYC) Worldwide has appealed to Nigerian National Petroleum Corporation (NNPC) give priority to qualified Ijaw persons in the ongoing recruitment exercise of the corporation.

    Speaking in Yenagoa, Bayelsa State capital, the IYC Secretary-General, Alfred Kemepado, warned against hijacking the employment announced recently by NNPC.

    Kemepado said it would amount to injustice and unfairness for the Ijaw people, who suffer pains of oil exploration and exploitation, to be marginalised in the ongoing process.

    He said: “Recently you may have discovered that NNPC made a publication for qualified people to apply for various positions in NNPC and applications were made around the nation and as Ijaws as qualified and competent as we are, most of us also applied to be given those jobs.

    “But sad information reaching us is that the Presidency has hijacked the process of recruitment and that our people, the Ijaw people are being sidelined and we find that very offensive for many reasons.

    “One of the reasons is that we cannot continue to dwell in a nation where they come around the Niger Delta especially in the Ijaw territory drill the oil, take the oil and sustain this country called Nigeria and leave us here in the Niger Delta with the associated diseases such as leukemia and the degraded environment but when there is opportunity for employment, our people are always sidelined, marginalised and not considered at all. We find that very offensive”.

    Read Also: Crisis rocks Ijaw Youths Council in Bayelsa

    Describing the situation as intolerable, Kemepado appealed to President Muhammadu Buhari and the new General Managing Director of NNPC to look into the issue and consider qualified Ijaw for the existing job opportunities.

    “We appeal to the Presidency and the new GMD to look into this issue and ensure that ijaw people who applied for those positions, whom we know are qualified for these positions should be considered and not sidelined by one list from the Presidency.

    “If that really happens we will take it as an insult. From the inception of this government, we have been provoked many times. The time the presidency came to this Niger Delta it promised us that companies would relocate to the Niger Delta. We did not see that happen. But we frown at this one and we are calling on the presidency to have a rethink and do what is right”.

    Kemepado said the IYC also heard that following the appointment of the new NDDC boss, the corporation would be restructured and called on the Federal Government to considered Ijaw people during the process.

    He said Ijaw people had been trained in the oil sector through various interventionist programmes from the Amnesty Office, the Niger Delta Development Commission (NDDC) and other scholarship schemes sponsored by the government.

    “They are qualified with local and foreign certificates. So nobody can doubt the competence of the Ijaw people. Therefore, the country should not continue to provoke this region. As Ijaw youth council in conjunction with the elders, we have done our beat to keep the peace in this region.

    “Let us make it abundantly clear here that the peace that present Muhammadu Buhari has enjoyed for the past four years and the peace that unfortunately he is enjoying that has resulted to the continuous flow of oil is not as a result of what this government is doing for the people of the Niger Delta.

    “It is only as a result of our resolve as a people to keep the peace here with the hope that in situation like this, our people will not continue to be sidelined and I don’t want the presidency to push its luck too far and further provoke our people.

    “This country cannot afford the provocation of this region and we also do not intend to request for anything more than equity and anything more than justice. We know that there are other issues like the Maritime University Bill that is still waiting on the President’s table to sign. We call on him to sign it.

    “We all know that the East-West road is unattended to. The Brass LNG is unattended to including other issues in the region. But now what is most pressing and most disrespectful to us is the issue of the NNPC and we want the presidency to include our people”.

    Also speaking IYC Chairman, Central Zone, Kennedy Olorogun, said the zine was bothered by the issue of employment ad appealed to the presidency to use the NNPC employment to make up for the neglect of the Ijaw.

    He said the youths had decided to embrace peace but warned against actions capable of provoking them into violence.

  • NNPC subsidiary’s profit hits  N4.75 billion

    A subsidiary of the Nigerian National Petroleum Corporation (NNPC) -National Engineering and Technical Company Limited (NETCO’s) operating profit increased by 130 percent from N2.07 billion in 2017 to N4.75 billion in 2018,  its chairman, Mallam Bello Rabiu, has said.

    In his statement at the 29th Annual General Meeting of the company in Abuja yesterday, he recalled that in the previous year, the company’s revenue rose by 63 per cent (N2.68 billion) from  N22.46 billion  to N36.64 billion in the year under review.

    He added despite the challenges in the industry, the firm was able to record a total profit before tax of N6.75 billion which represents an increase of 107 per cent from N3.26billion in 2017.

    His words: “Despite the challenges faced in the industry, NETCO was able to record a total profit before tax of N6.75billion which represents an increase of 107 per cent from N3.26 billion in 2017.

    “The company’s revenue also increased by 63 per cent from N22.46 billion in the previous year to N36.46billion in the year under review. The operating profit of the company increased by 130 per cent (N2.68billion) from N2.07 billion in 2017 to N4.75 billion in 2018.”

    Owing to the leap in profit performance, according to Rabiu, NECTO overshot its last year’s highest dividend record of N750 million, and the company declared a dividend of N1.50 billion to its shareholders at the meeting.

    He said that the leap was an increase of 100 percent dividend from the previous year.

    Read Also: NNPC technical coy declares N6. 75bn profit in 2018

    The chairman however attributed the achievements in the year under review to two major projects: Mobil Producing Nigeria (MPN) Major Integrity Projects (MIPs) EPCm2 and NPDC FPSO Mystras  Operations & Maintenance Contract; and the enforcement of cost reduction measures that were adopted during the period with the management and staff doggedness.

    Rabiu said that the success was also through the sustained efforts on the part of the company to leverage on the continued strong support of the shareholder and Group Managing Director in particular, which culminated in the award of some big ticket projects.

    NECTO, he said, ensured that the projects were delivered on time, within budget and without compromising quality in service delivery.

    Presenting his management report, the Managing Director, Engr. Mustapha Yakubu said that authorized share capital of the company remained 1,000,000,000 ordinary share of N1.00 each.

    He explained that in 2018, the issued share capital stood at 1,000,000,000 of N1.00 per share, fully paid-up by the shareholders. While 99,999,995 shares were due to the Nigerian National Petroleum Corporation,  five shares were due to Nigerian Petroleum Development Company Limited.

    In year 2018, according to Yakubu, there was no acquisition of the company’s shares.

    He revealed that the company’s staff strength as at December 31, 2018 stood at 380 comprising 77 NNPC staff, 88 NETCO Direct Staff and 215 Project Staff.

    He revealed that the company’s staff strength as at December 31, 2018 stood at 380 comprising 77 NNPC staff, 88 NETCO Direct Staff and 215 Project Staff.

  • Neymar loses Brazil captaincy to Alves

    Brazilian star Neymar has lost his national team’s captaincy for this summer’s Copa America to veteran Dani Alves.

    Brazil’s football confederation, CBF, said in a statement Monday that the 36-year-old defender — also a teammate of Neymar’s with Paris Saint-Germain — will start wearing the armband in the friendly against Qatar on June 5 in Brasilia.

    The 27-year-old Neymar has been Brazil’s captain since its elimination in the World Cup quarterfinals against Belgium in 2018. Marcelo was the captain for that tournament, during which Dani Alves was injured.

    The CBF said Brazil coach Tite informed Neymar of his decision on Saturday, the day the PSG striker arrived at the national team’s training ground outside Rio de Janeiro.

    Tite’s decision comes after Neymar’s altercation with a fan at the French Cup final on April 27 and a Champions League suspension for insulting a match official after PSG’s defeat to Manchester United.

    Read Also: Kanu gives condition for Super Eagles triumph in Egypt

    Tite said last week that he planned to speak to Neymar about his behavior.

    “Neymar made a mistake, which was his fault,” Tite said. “I will speak with Neymar about it. I will speak with him about manners. I will speak with Neymar as the Brazil coach, but also as a human being. It will be about manners and principles.

    “The most important thing is to have an exchange with Neymar, as I did with Douglas Costa (when the Juventus player was involved in a spitting incident). Any problems regarding a player’s behavior will be treated as a matter of education.”

    The Copa America will be played in Brazil between June 14 and July 7.

    Brazil are in Group A with Bolivia, Venezuela and Peru.

  • NNPC posts $490.03m export of crude oil, gas

    The Nigerian National Petroleum Corporation (NNPC) posted $490.03 million as proceeds from export sale of crude oil and gas in February, it was learnt yesterday.

    The figure was 32.45 per cent higher than the previous month’s sale, according to a report in the Monthly Financial and Operations Report (MFOR) of the Corporation.

    NNPC spokesman Ndu Ughamadu, said in Abuja that crude oil export sales contributed $350.29 million (71.48 per cent) of the dollar transactions compared to $240.23 million contribution in the previous month.

    The report, the 43rd edition of the NNPC MFOR, explained that the export gas sales amounted to $139.74 million in the month under review, stating that the February 2018 to February 2019 crude oil and gas transactions indicated that crude oil & gas worth of $5.94 billion was exported.

    The report announced a 40 per cent drop in recorded cases of oil pipeline vandalism in February, 2019 when compared with the reported incidents of January 2019.

    A breakdown of the report indicated that in February 2019, a total of 137 pipeline points were vandalised which translates to 40 per cent drop from the 230 points vandalized in January 2019. It was revealed that Mosimi-Ibadan petroleum products pipeline accounted for 72 per cent of the breaks while Kaduna, Port-Harcourt, Warri and Gombe lines made up the remaining 28 per cent.

    REad also: NNPC remits N1.26tr to Federation Account

    The report attributed the drop in the line break to efforts by NNPC, the local communities and other stakeholders to reduce and eventually eliminate pipeline vandalism.

    To ensure continuous increase in petrol supply and effective distribution across the country, 1.27bn litres translating to 45.53 million liters/day were supplied for the month.

    The MFOR explained that in the Downstream Sector, the corporation has continued to diligently monitor the daily stock of Premium Motor Spirit (PMS), otherwise called petro, to achieve smooth distribution of petroleum products and zero fuel queue across the nation.

    In terms of natural gas off-take, commercialisation and utilisation, the records indicated that within the period, daily average natural gas supply to gas power plants increased by 8.23 per cent to 819.85 million standard cubic feet (mmscf), equivalent to power generation of 3,336MW. The figure is an improvement from the January 2019 record where an average of 757mmscfd was supplied to generate 3,124MW.

    Also, out of the 223.23billion cubic feet (bcf) of gas supplied in February 2019, a total of 127.62bcf of gas was commercialized consisting of 37.77bcf and 89.85bcf for the domestic and export market respectively. This translates to a total supply of 1,349.03mmscfd of gas to the domestic market and 3,780.24mmscfd of gas supplied to the export market for the month.

    This implies that 57.17 per cent of the average daily gas produced was commercialized while the balance of 42.83 per cent was re-injected, used as upstream fuel gas or flared. Gas flare rate was 9.51 per cent for the month under review i.e. 757.94mmscfd, compared with average gas flare rate of 9.52 per cent i.e. 750.01mmscfd for the period February 2018 to February 2019.

  • NNPC remits N1.26tr to Federation Account

    The Nigerian National Petroleum Corporation (NNPC) said it met its financial obligations to the Federation Account last year by remitting N1.26 trillion as against the N1.22 trillion projected in the 2018 budget, recording a surplus of N41billion.

    The Managing Director, NNPC Capital, Mr. Godwin Okonkwo, disclosed this during a presentation to the House of Representatives Ad Hoc Committee on the Investigation of the Non-Remittances of Funds to the Federation Account by the corporation between July 2017 and December 2018 at the National Assembly Complex in Abuja.

    A statement by NNPC explained that Okonkwo represented Group Managing Director of the Corporation,  Dr. Maikanti Baru. It said though 2.3million barrels per day (mbpd) was proposed in the 2018 budget, national daily production for the period under review oscillated between 1.9mbpd to 1.89mbpd.

    Baru listed the two sources of inflows into the Federation Account from the NNPC to include equity crude oil sales less cost of recovery from the Joint Venture cash call arrears and domestic crude less cost recovery, adding that the JV cash call arrears were being efficiently managed now to ensure steady inflows to the Federation Account.

    REad also: Tension in NNPC over postings, fresh recruitment

    Baru said: “The current management of NNPC ensures that it contributes to the cost of the production of crude oil and gas in the upstream sector to avoid a repeat of the mistakes of the past. If we had made cash call payments in the past, the arrears that we are liquidating now would not have arisen. The current situation creates a win-win scenario for the country. The NNPC is strategically saving for the rainy day to make a better future for all of us by liquidating the arrears.”

    He noted that the corporation on a regular and sustained basis balanced up with the Federation Account Allocation Committee (FAAC) and the JV cash calls in order to make sure that the future generations do not suffer from the legacy debt.

    He dismissed the allegations of Commissioners of Finance of under-remittances by the Corporation, adding that the NNPC was a going concern that met financial obligations to its various stakeholders.

     

     

     

  • Tension in NNPC over postings, fresh recruitment

    There is tension in the Nigerian National Petroleum Corporation (NNPC) over the retirement and deployment of 30 officials, which was approved by the Group Managing Director, Dr. Maikanti Baru.

    There were fears that the corporation was losing good hands to mediocrity and subservience.

    It was also alleged that  the ongoing recruitment, if it follows a similar pattern, may be a cosmetic exercise calculated to ingratiate particular interests.

    But NNPC said there was no cause for alarm because  the shake-up and retirement were normal and followed due process.

    The presidency has been called upon to reverse the postings to give a sense of belonging to all parts of the country.

    A three-page document sighted by our correspondent, with a covering note and two attachments, each page signed at both ends of the paper with a red pen by Baru, details the postings of 19 top officials to new offices.

    There have been concerns about the abrogation of due process and disregard for extant regulations in the administration of the NNPC, promotions, postings and responsibilities generating misgiving because they seem visibly skewed in favour of particular interests and tendencies.

    It has been alleged, for instance, that certain individuals have rapidly ascended the positions of Manager, General Manager, Group General Manager and much more, in less than three years, most noticeably under the current dispensation in the organisation.

    By the new postings, Anas Mustapha Mohammed, General Manager (Cover) Operations, West African Pipelines Company, WAPCO, becomes substantive General Manager, Operations, WAPCO; Usman Faruk, Manager, Asset Management, Nigerian Gas Management Company, NGMC, assumes office as Executive Director, Asset Management, NGMC; while Ali Mohammed Sarki, Manager Exploration, Chad Basin, is promoted General Manager, Chad Basin FES. All three postings are to take effect from May 6, 2019.

    Osarolube Ezekiel, who was until recently General Manager/Technical Assistant (Refining) to the GMD, becomes Managing Director, MD, Kaduna Refining and Petrochemical Company, KRPC. Ihya, Aaondover Mson, Manager Rehabilitation, KRPC, takes over from Osarolube Ezekiel in the office of the GMD in the same portfolio. This swap is with effect from May 13.

    Isah Abubakar Lapai, Executive Director, Services, Nigerian Petroleum Development Company Ltd, NPDC, moves over to Group General Manager, GGM, NNPC Leadership Academy; Umar Hamza Ado, Manager, Human Resources, Warri Refining and Petrochemical Company, becomes Executive Director, Services, NPDC. Garba Adamu Kaita, MD NIKORMA Transport Services Ltd, a subsidiary of NNPC, becomes GM, Human Resources and Administrative Services, Duke Oil. All three postings take effect between May 14 and May 19.

    Under the new postings, Manager, Human Resources (Pension), Ossai Uche, becomes GM Support Services, Nigerian Gas Company, NGC, with effect from May 30. Usman Umar, Manager Technical Services, Renewable Energy Division, RED, moves up as Executive Director, Operations, KRPC, effective June 6, 2019; Ehizoje Ighodaro, Manager, OML 26/30 NPDC, assumes duties as GM (Upstream) and Technical Assistant, TA, to the GMD, beginning from June 14, 2019. Ahmed Mohammed Abdulkadir who functioned as GM (Downstream) and Technical Assistant to the GMD transits to Managing Director, Nigerian Gas and Marketing Company, NGMC, Gas and Power, beginning from June 16, 2019.

    Read also: Why we replaced top management cadre, by NNPC

    Lere Isa Aliyu, Manager, Direct Sales Direct Purchase, DSDP Crude Oil Marketing Division, COMD, becomes GM/TA Downstream Office of the GMD as from June 16. Richard-Obioha Mayrose Nkemegina, Manager Power Contract and Management, becomes General Manager, New Liquefied Natural Gas, LNG Ventures of the LNG Investments Management Services, LIMS with effect from July 3, the same day Dikko Ahmed, General Manager, New LNG Ventures, LIMS, becomes General Manager, NLNG, LIMS.

    Ibrahim Sarafa Ayobami, Manager Projects, National Engineering and Technical Company Ltd, NETCO, becomes Executive Director, NPDC on July 16, 2019; Usman Yusuf, Group General Manager/Senior Technical Assistant to the GMD becomes Managing Director, NPDC; Sambo Mansur Sadiq, General Manager, Crude Oil Stock Management, swaps positions with Usman Yusuf, becoming GGM/STA to the GMD. Boggu Louis Tizhe, Manager, Pricing and Valuation, Crude Oil Marketing Division, COMD, becomes General Manager, COMD. All postings take effect on July 17.

    Drawing a parallel with the civil service, a top level source within the NNPC faulted the shake-up.

    The top source expressed worries about why such senior level postings were “hastily” announced in the twilight of the life span of the present administration, when the government is in transition, with some of the postings scheduled to take effect a month from now, even two months from now.

    The source added: “If these postings and appointments were not premeditated, why the haste in appointing people in May into positions they will not be occupying earlier than two months from now? Are they going on any special training or courses to prepare them for their new responsibilities? Aren’t we all under the over-arching umbrella of the NNPC?

    “There are also concerns about the deepening of the socio-political gulf in the country, as evidenced by the recent NNPC postings.

    “Please take a good look at this list of just 19 postings. Yes, it may be termed internal staff deployment. But out of the 19 movements and promotions in certain instances, 13 of them are from the North. Symbolically, there are three names from the South-South, two from the South-East and one from the South-West. What manner of posting is this? Where is federal character? Where is justice, equity and fairness? Are we all constituents of this same country? You share 19 positions and 13 are appropriated to one part of the country and you tell us all is well?”

    The source said the postings might be a pointer to how the ongoing recruitment by NNPC might be skewed to favour some groups.

    The source added: “Maybe we should just assume that the recent advertisements for applications into Customs, Prisons and Fire Services might as well follow the same pattern. It is becoming very clear that some animals are more equal than the others in the present political dispensation.”

    He expressed the hope that The Presidency will take prompt, decisive and appropriate steps to redress the imbalances in the recent NNPC staff deployment and by extension, revisit similar developments in all state-owned institutions and organisations, to engender fairness and fairplay.

    Meanwhile, the  Nigerian National Petroleum Corporation (NNPC) yesterday described the staff movement as “ normal replacement and backfill exercise” to bridge the gap occasioned by impending retirement of some management staff of the corporation, among others.

    NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a statement in Abuja, explained that the exercise involved statutory retirement of 11 of its senior management staff as well as redeployment of 19 others.

    He said such replacements were always effected before the final exit of the concerned staff.

    Ughamadu said in  all 30 senior staff were affected by both the statutory retirements and redeployment.

    He listed staff on statutory retirement between 1st May and 31 July to include: General Manager, Chad Basin, Aniya Francis Umaru, who is from the North-Eastern part of the country and retired on May 6th, 2019; Adewale Solomon Ladenegan, Managing Director, KRPC, who hails from the South-West and retired on May 13th, 2019 and Musa Sulyman Gimba, who is the Group General Manager, NNPC Leadership Academy, who also is from the North-East and retired on May 14th, 2019.

    Others include:  Umma Ayuba Musa, who is the General Manager, HR & Admin Services, Duke Oil, from North-West and retired on May 19th, 2019;  Emmanuel–Ate Mariagoretti Ndidi, General Manager, Support Services, NGC, from the South-South who will retire on May 30th, 2019; Tsavnande Thaddeaus Atighir, Executive Director, Operations, from North-Central; Okor Ovieghara, General Manager, Upstream/TA to GMD, who hails from the South-South; Barau Mohammed Kabir, Managing Director, NGMC, who is from the North-West; Dawaki Salihi Abubakar, the General Manager NLNG, LIMS, from the North-West; Ibrahim Aminu Bagudu, the Executive Director, ETSD, NPDC, who is from the North-West and Yusuf Shimingah Matashi, the Managing Director, NPDC, who hails from the North-West retires on 17th July, 2019.

    The 19 redeployed staff  are  Anas Mustapha Mohammed, Usman Faruk, Ali Muhammed Sarki, Osarolube Ezekiel, Ihya Aondoaver Mson, Isah Abubakar Lapal, Umar Hamza Ado, Garba Adamu Kaita, Ossai Uche, Usman Umar, Ehizoje Tunde Ighodaro, Ahmed Mohammed Abdulkabir and Lere Isa Aliyu.

    Others are: Richard-Obioha Maryrose Nkemegina, Dikko Ahmed, Ibrahim Sarafa Ayobami, Usman Yusuf, Sambo Mansur Sadiq and Buggu Louis Tizhe.

    The NNPC spokesman said it was usual for the corporation to obtain approval on replacements of retiring staff ahead of schedule.

    He said this was the case with the recent exercise that takes effect as at when the retiring staff departs  at various times within the period.

    Ughamadu  said  the exercise was effected to ensure uninterrupted operations of the corporation in achieving its mandate.

    He said  extant corporate guidelines were strictly followed in the process.

    Ughamadu   advised members of the public to disregard the insinuation that some staff of the corporation were relieved of their duties.

    He said  the deployments were expected and aimed at sustaining the system.

    The NNPC spokesperson urged staff of the Corporation not to be distracted with the report.

  • $9.8m Fraud: Court orders ex-NNPC boss, Yakubu to defend self in money laundering charge

    A Federal High Court in Abuja has ordered the former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu to enter defence in his on-going trial for money laundering and related offences.

    Justice Ahmed Mohammed, in a ruling on Thursday, partially upheld the no-case submission made by Yakubu and struck out counts five and six from the six-count charge on which he is being tried.

    Yakubu is being tried on a six-count charge brought against him by the Economic and Financial Crimes Commission (EFCC).

    He is charged with, among others failure to make full disclosure of assets, receiving cash without going through a financial institution, money laundering and intent to avoid a lawful transaction under law.

    The charge is in relation to the huge cash, comprising  $9,772,800 and £74,000 said to have been recovered by EFCC operative sin Yakubu’s home in Kaduna.

    He was arraigned on March 16, 2017 and he pleaded not guilty, following which the prosecution conducted its case on October 17, 2018 after calling seven witnesses.

    At the closure of the proscution’s case, Yakubu, through his lawyer, Ahmed Raji (SAN), made a no-case submission on December 5, 2018 and argued that the prosecution has failed to make out a case against him.

    He contended that, with the evidence led through its seven witnesses, the prosecution failed to link him with the offences charged.

    Read also: Breaking: Appeal Court upholds death sentence for ex-NNPC staff

    The defendant prayed the court to strike out the charge, discharge and acquit him.

    The prosecution, represented by Mohammed Abubakar, countered in a reply dated January 15, 2019 and argued that it had established a prima facie case against the defendant.

    It urged the court to order him to defend himself against allegations made against him.

    Ruling on the no-case submission on Thursday, Justice Mohammed said: “I agree with the defence counsel that the prosecution has failed to prove the essential elements of transportation of money on counts five and six.

    “I accordingly discharge the defendant on counts five and six.

    “Even though I am tempted to discharge the defendant on counts one to four, I am however constrained to ask the defendant to explain how he came about the monies recovered from his house.

    “Fortified with my position, the defendant is hereby ordered to enter his defence in respect of counts one to four.”

    The judge adjourned till July 3, 2019 for defendant to open his defence in relation to counts one to four.

    The counts relate to the defendant’s alleged failure to make full disclosure of assets and receiving cash without a financial institution, an offences allegedly committed under Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended in 2012.

     

     

  • Depot owners to NNPC: N117 per litre of fuel is too high

    Private depot owners are lamenting Nigerian National Petroleum Corporation’s (NNPC’s) decision   to sell Premium Motor Spirit (PMS) to them at N117 per litre, admitting that the price is not only outrageous, but not cost effective. The depot owners  include members of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of Nigeria (DAPMAN).

    In a telephone interview with The Nation, its Executive Secretary, Mr Femi Adewole, lamented that the N111 per litre price, which NNPC was selling fuel to them, was at an insignificant margin, wondering what will happen when the state-run oil firm has ncreased the price to N117.

    Adewole said NNPC’s  monopoly of fuel importation has compounded their woes.

    He said: ‘’By the time depot owners, who are mostly marketers,  add other costs incurred in the course of buying fuel from NNPC and later sell the product at the pump price of N145 per litre to  consumers,  they will be left with little or no profits.  More worrisome is the fact that NNPC controls fuel importation, a development which has compelled marketers to sell the product at a particular price. That is the situation we find ourselves. We are praying for solutions to problems inhibiting the growth of the industry, especially the downstream sub-sector.’’

    The NNPC, Adewole said, sells fuel only to depot owners, who have Profoma Invoice, a development, which implies that any depot owner or marketer, who do not have Profoma Invoice would not be able to buy fuel.

    He said diesel price is deregulated, stressing that marketers are selling the product at between N220 to N230 per litre.

    Also, MOMAN’s Secretary, Mr Clemens Isong, said depot owners, including MOMAN members, have no choice than to buy the fuel at N117 per litre, being the price from the Department of Petroleum Resources (DPR).

    No depot owner or marketer, he said, can say he or she is making profit under the new price regime.

    A member of the Independent Petroleum marketers Association of Nigeria (IPMAN), who does not want his name in print, said why the NNPC increased the fuel price at which it was selling to depot owners may not be unconnected with the rise in the landing cost of fuel into the country.

    ‘’The NNPC may have considered the cost of importing fuel into the country, ditto the cost of storing the product, cost of logistics, among other variables.  When one considers  these variables, which in most cases are not static, one would see that the tendency by  NNPC to increase the price at which fuel is being supplied to depot owners is high,’’ the IPMAN member said.

    According to him, NNPC does not sell more than 10million litres to depot owner, stressing that the corporation has maintained that figure over the years.

    “What I observed in the downstream sub-sector is that NNPC has not for once sold more than 10million litres of fuel to any depot owner. The reason is simple. NNPC believes that no private depot can contain more than 10 million litres of fuel at a stretch,” he said.

    He said independent marketers buy fuel at N132.28 per litre from depot owners, not NNPC.