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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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AMCON Sets To IBADAN DISCO FOR MORE GROWTH

IBEDC 

By Favour Ifeoluwa & Akinola Ajibade 


The Assets Management Corporation of Nigeria( AMCON) has concluded plans to sellI Ibadan Electricity Distribution to new investors in order to make the power firm more efficient.

Its Managing Director/Chief Executive Officer, Gbenga Alade,who disclosed this in Lagos recently,said that the corporation has tried to resolve the issues affecting the IBEDC, but the process has yet to be concluded.

The company which is being managed by AMCON since 2022,would be sold to investors with ”deep pockets”,he said.

He added:“In the power sector, we have Ibadan DisCo, which is under AMCON. We’ve tried as much as possible to get that resolved. And we’re in the process. We are yet to conclude the sale, but we are making very good headway in resolving Ibadan DisCo,” he said.

“IBEDC would be profitable if sold, saying it covers different states, including Ogun industrial areas.

”I believe that Ibadan Disco is the largest disco that we have because it goes across so many states like Ogun, including all the industrial areas of Ogun State. We believe that it can be made more efficient if sold to people with deep pockets who can invest, not people who just buy and not invest; they don’t have money to invest.

“With people who have deep pockets to invest in making that company more efficient and more effective, it will go a long way to helping the power sector”.

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