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There is no truth in 48million missing barrels of Crude oil story, says NNPC

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There is no truth in 48million missing barrels of Crude oil story, says NNPC


….as it Challenges NASS to commission forensic audit

The Nigerian National Petroleum Corporation ( NNPC) on Thursday told the Senate that the rumour making the rounds over missing 48million barrels of crude oil is a fluke and total falsehood .

It challenged the Senate and by extension, the National Assembly, to go ahead with forensic audit on the outlandish claim at its own cost, if it so wishes just as it declared that the National Assembly approves the corporation budget on yearly basis .

The issues of alleged missing barrels of crude oil and unapproved yearly budget of the corporation, came up during an interactive session officials of NNPC had with the Senate Joint Committee on Finance and National  Planning on projected revenues estimated in the 2021 – 2023 Medium Term Expenditure Frame work and Fiscal Strategy Paper ( FSP).

The Chairman of the joint Committee, Senator Solomon Olamilekan Adeola (APC Lagos West), had while taking on the oil corporation over the alleged missing barrels of oil, demanded for proven evidence and not verbal denial as it was done by NNPC through media advertorials .

But the Group Managing Director ( GMD), of NNPC, Mele Kyari represented by the Chief Finance Officer, Umar Ajiya, in his response, said there was no evidence to knock out the claim than the fact that there were no records of ships that sailed out of the Nigerian waters with such contrabands and clearance from the Nigerian Navy and Directorate of Petroleum and Resources ( DPR).
“No ship leaves the country without clearance from the appropriate unit of the Nigerian Navy and there is no way any ship with such alleged stolen crude could escape from the Nigeria shore .

“As far as the NNPC is concerned, no barrel of crude oil is missing as falsely alleged and we very ready to be investigated through forensic audit by the National Assembly at its own cost ” he said .

The NNPC CFO also put it to the federal lawmakers that the yearly budget of the corporation is scrutinised and approved by them through consideration and passage of MTEF and FSP which contains revenue projections of the agency along with those of the other ones .

“Proposals such as our revenue projections , cost of operations are well stated in all MTEF/FSP documents made available to National Assembly for consideration and approval , the basis upon which the Nation’s budget is passed and signed into law, meaning that it is you ( National Assembly), that approves our yearly budget ” , he explained.

According to him, the current GMD of NNPC is a change agent and the corporation under him, has nothing to hide.

He explained further that the $21per barrel production cost the corporation is incurring on each barrel of crude oil, will soon be reduced to $13 per barrel in drastically minimizing production cost .

On the $40 per barrel projected as oil price benchmark for the N12.6trillion 2021 budget, the NNPC CFO said the projection was arrived at, based on available variables .

“Nobody can determine what oil price will be tomorrow, which informs pessimistic thinking as far as such a parameter is concerned”, he said.

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Humanitarian ministry insists States hoarded palliatives

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Humanitarian ministry insists States hoarded palliatives

The minister of Humanitathas denied having any link with hoarded palliatives meant for distribution to the needy during the COVID-19 pandemic by many states as she restated that all palliatives donated to the ministry were distributed accordingly.
The minister made the disclosure on Monday during a national Press conference in Abuja on the activities of the ministry since inception.
She said, “Recently, the world witnessed the unfortunate incidence of looting of palliatives and relief materials stashed away in warehouses in some states of the country during the #EndSars protest.

“As the Minister of
Humanitarian Affairs, I want to categorically state that the Palliatives
donated to the Ministry by the Nigerian Customs Services, National
Strategic Grain Reserve, and many good willing donors were handed to
State officials for onward distribution to the poor and vulnerable in thier
states.

“The Ministry identifies its strategic role and impact in the everyday lives of the Nigerian. We want to assure the public that we are on ground working every day for Nigerians.”

She expressed satisfaction with the success story of one of the Federal Government’s Investment programs, the N-POWER as 109, 823 benefitiaries have successfully started their own businesses

According to her, “After the two-year period, facts and reports show that some of the
beneficiaries of Batch A and Batch B of the programme have established
businesses in their communities, with no fewer than 109,823
beneficiaries of the N-Power Programme who have identified themselves
as business owners.

According to her, “Current Enrolment Status of beneficiaries for N-power Batch C closed in July 2020 and we have received over 5 Million applications since the portal opened.
“The application process will be concluded as soon as possible to provide additional Nigerian youths access to the programme.
“At this juncture, I want to officially announce that the Central Bank of
Nigeria in collaboration with the Ministry has developed a portal to
enable the exited N-Power beneficiaries to log on and apply for the
various economic empowerment and entrepreneurship options provided by the Central Bank such as the AGSMEIS loan and the AnchorBorrowers Program (ABP). “Interested N-Power exited beneficiaries
should log on to the CBN portal for more information.
The website portal is nexit-fmhds.cbn.gov.ng as displayed on the screen.

Farouq also refuted the claim that her ministry has been feeding the Internally Displaced persons with poor nutritious food saying the Ministry has been making different grains available and also allow other bodies who make donations of their choice which the Ministry cannot restrict or limit.

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FG mulls reversal of Fuel price (PMS) as organized labour mounts pressure

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FG mulls reversal of Fuel price (PMS) as organized labour mounts pressure

The Federal Government may be planning to reverse the pump price of Premium Motor Spirit (PMS) to N160 per litre if the pressure being mounted by the organised Labour on the Federal Government is fruitful.

At the end of the resumed negotiations between government and the labour movement Friday night, the Federal Government indicated willingness to consult widely with the view to reviewing the price downward.

The indication shows that   the new price might be unveiled at the resumed meeting slated for December 7.
The Federal Government said the period between now and then would allow it embark on a wide range consultation over Labour’s request.
Labour had insisted that the pump price must be reviewed downward to N160 before negotiations can proceed on the hike in electricity tariffs and deregulation of the downstream sector of the petroleum industry.
Minister for Labour and Employment, Dr. Chris Ngige, who disclosed this at the end of the latest meeting between the Federal Government and organised Labour on the recent increases in the pump price of petrol and electricity tariff, added that the meeting agreed to let the government side consult with their principal and every relevant authority on the request of the Labour
He stated: “The message from the organised Labour is clear; they want a reversal of the pump price of PMS. The parties have agreed to let the government side consult their principal on that. We will consult the President, minister of Petroleum and the Economic Management Team.”
The minister noted that though it was no longer the responsibility of government to fix the pump price of PMS as it had been deregulated, the matter still fell within the realm of the economy.
On the issue of the electricity tariff, Ngige said the committee working on it, headed by the Minister of State for Labour, Festus Keyamo, already had an interim report and would use the opportunity created by the adjournment of the meeting to undertake field visits to the different Distribution Companies (DisCos) in Nigeria and come back with a more comprehensive report.

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INEC chair: Lawan denies taking N2b bribe to confirm Yakubu

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INEC chair: Lawan denies taking N2b bribe to confirm Yakubu

By James Ojochegbe

The president of the senate Ahmad Lawan has denied collecting any gratification of N2b to facilitate the confirmation of the INEC chairman as alleged by an online publication.

This contained in a Statement issued in Abuja by his special Adviser on media Ola Awoniyi.
The statement reads, “The attention of the Office of the Senate President has been drawn to a report by SaharaReporters alleging that a group led by the Senate President, Ahmad Lawan, collected N2billion from Professor Mahmood Yakubu to facilitate the confirmation of his appointment by President Muhammadu Buhari to a fresh five-year tenure as chairman of the Independent National Electoral Commission (INEC).

“It is noteworthy that the publication, as always with its ridiculous fabricated reports, could not even expand the entertainment of its readers by providing the names of members of the fictitious group and where the group operates from.
“To be sure, that group exists only in the mischievious imagination of the writer of the fiction.”
The Statement enjoined Nigerians to ignore the report as yet another incident of hallucination by the comical characters operating the fabricated news platform.

“The online medium has long earmed its notoriety as a purveyor of fake news with high profile public officials as its targets. 
“It is well known that only the President can nominate a candidate for appointment or reappointment as Chairman of INEC.
And only the Senate as a body can confirm or reject the appointment, after due screening of the candidate.
“The parliamentary process for the confirmation of nominations by the President is open and involves all distinguished senators.
“The Senate President is only a presiding officer of the Senate and does not lead any group in or outside the august chamber that acts in any way to circumvent the processes of the Senate. “We reassure Nigerians that the Senate President did not receive any gratification, in his or behalf of others, to help Professor Yakubu get a second term as chairman of INEC.”

He challenged SaharaReporters and the sponsors of the false publication to provide whatever evidence that they can in support of their glib claims, failing which Nigerians should dismiss the report as another cheap blackmail from a platform that has no reputation for credible reportage and ethical journalism practise.”

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