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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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World Bank offers Nigeria $800m ahead of subsidies' removal


By Akinola Ajibade



World Bank has given Federal  Government $800 million ahead of June this year, slated for the  removal of petrol subsidies, the Minister of Finance, Zanaib Ahmed has said.

The global banking institution gave out the money in order to scale up national programmes before  government remove the subsidies. 

Speaking yesterday ( Wednesday) after the cabinet's meeting in Abuja, Ahmed said  the money was given to the government to provide social infrastructure for its more than 200million population.

She noted that the government was considering cash transfers and mass transit buses for workers to ease the pain of the subsidy removal on the most vulnerable segment of its population. 

She  added that the country registered ten million households,  a figure, that is equivalent of 50 million people on the  list. of vulnerables in the country. 

Ahmed said: “Several things are on plan. Some  we can start executing quickly while others are not.The latter would take some time before they are implemented"

The World Bank, Ahmed said, was  expecting  COVID-19 crisis to push over 11 million Nigerians into poverty by 2022,  a development which has taking the total number of people classified as poor in the country to over 100 million. 

According to her, discussions were going on at different levels of government and with members of the incoming administration of President-elect Bola Tinubu on the subsidy removal.

Recall that Federal Government has set aside N3.36 trillion ($7.3 billion) this year to spend on petrol subsidies until mid-2023, after which it has made no provision for the expense, which cost more than its spending on healthcare and education.


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