NEWS MIRROR

Fuel scarcity By Favour Ajibade The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), yesterday, says it would sanction any retail outlet, which, rejected  payment for fuel through Pont of Sales( PoS) machines.  The body, hitherto known as Department of Petroleum Resources( DPR) said this in a statement made available to the media.  In the statement, signed by its General Manager Corporate Corporations and Stakeholders Management, Kimchi Apollo, the agency attributed the development to the on-going cash crunch, a fall out of naira redesigning policy and the subsequent failure of the Central Bank of Nigeria (CBN) and  Deposit Monetary Banks ( DMBs) to issue new and old naira notes.  The statement further said NMDPRA and the security agencies will henceforth be at retail outlets to ensure compliance with this directive and any filling station found violating this directive will be duly sanctioned. The statement added:”It has come to the attention of t

Sahara Group's Chief Executive officer, Mr Kola Adesina and other senior officials during the event in Ikorodu, Lagos. By Favour Ajibade  Egbin Group says that twenty-seven newly inducted engineers are ready to demonstrate their capacity, in order to improve electricity generation in Nigeria.  Egbin is the largest generating station, with installed capacity of 1,320 megawatts of electricity ( Mw), which consists of six units of 220Mw each.  Owned by Sahara Group, a private sector driven organisation,  Egbin distributes at least 20 per cent of power, that is being consumed in the country. With interest to own the largest energy portfolios, which comprises of solar production among other,. the group has successfully trained three sets of graduate engineers for its operations.  The third batch of Eg bin Power engineering trainee  programme, which graduated weeks ago, went through  12-month   comprehensive developmental programme before it was certified for operation. The e

By Akinola Ajibade Residents and Non-Residents in Lagos will as from tomorrow ( Thursday) start paying smaller  amounts of money as fares for boarding the Bus Rapid Transit ( BRT) and other state-owned transport modes. This follows the decision by the state governor, Babajide Sanwoolu to approve a 50 percent reduction on fares for passengers in the state. Other transport modes  approved by the governor were LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY). While announcing the initiative,  Sanwoolu said that the idea would help in reducing the problems of the residents, adding that that more Cowrie Cards would be provided at bus terminals to enable  Lagosians to get onboard and benefit from the service introduced in response to yearnings of the residents. He  disclosed that food banks would be set up across the state, to distribute and assist vulnerable Lagosians to have access to better meals across the state. The  50 percent reducti

Redesigned Naira Notes  By Akinola Ajibade The Supreme Court  has restrained the trio of  Federal Government, Central Bank of Nigeria (CBN) and Commercial Banks from continuing with the February 10 deadline, pending the determination of the suit filed on the issue on the issue. The government through CBN  had earlier set January end as deadline for the expiration of the old notes, but later postpone it to February 10, due to pressures such scarcity of the new notes and other burning problems in the country. Prior to this period, the governments of Kogi, Kaduna and Zamfara had in a motion ex-parre filed on February 3rd prayed the apex Court to stop the Central Bank of Nigeria naira policy. The governors filed the suit against Federal Government and CBN with a view to allow the N200, N500 and N1000 notes to remain a longer tender beyond February 10th, this year. The government, whose actions were to help the hapless Nigerians, who are feeling the pains foisted on

By Favour Ajibade Fuel scarcity is getting worse by the day, as  Independent Petroleum Marketers Association of Nigeria (IPMAN)  its directed its members to suspend all operations across the country. By this, IPMAN appears making good its threats to shut down thousands of filing stations owned by its members across the country, in the event that the Federal Government insists on the N195 per litre price for petrol. The Chairman, IPMAN, Mohammed Kuluwa, said  this yesterday, in a statement, which he  signed  and made available to the media.   Part of the statement reads: " Marketers have been  ordered to suspend the payment of ordering products from the source until further notice.The decision followed the critical situation as it affects our sourcing and selling of product at lost and the action of the authority to impose the selling of product at a lost price on our side”. It is, however, not yet clear whether marketers will rescind their decision to stop selling fuel

NNPCL'S GMD, Mele Kyari Concerned group, yesterday, threatened to disrupt activities in the headquarters of the Nigeria National Petroleum Company Limited (NNPCL) over the lingering fuel scarcity in the country. The  country  for months now has  been battling with scarcity of gasoline, now without end in sight. The groups include Commercial Motorcycles Association of Nigeria, (COMAN), Tricycles Owners Association of Nigeria (TOWAN), National Association of Traders of Nigeria, (NASTAN), Luxurious Bus Operators Union (LUBOU), Market Women Association of Nigeria (MAWAN),  Trailer Drivers Association of Nigeria, TADAN among others. In a communique signed by Boniface Ikedi, Basil Ekanem and four others, the group said their members can no longer cope with hardship. They urged the Federal government to rise to the occasion before the general election as they were ready to stop their members from INEC’s logistics arrangements.  “ We have concluded plans to issue a three-day wa

progress on the refinery site, urging the contractors to reach out for any help they might require. In his comments, the Executive Vice President, Downstream of the NNPC, Adeyemi Adetunji, said the event marked a milestone in the history of KRPC considering that the last Turn Around Maintenance (TAM) on the refinery occurred about  15 years ago. He stated the project was framed after extensive engagement with Daewoo on the quick-fix strategy to repair and re-stream KRPC and operate it on a sustainable basis at a minimum capacity utilization of 60 percent. “This project shall be executed in three work packages as a maintenance services contract by Daewoo E&C Nigeria Limited at an estimated maximum cost ceiling with a duration of 21 months. “The quick-fix strategy guarantees the fastest route to re-streaming WRPC and KRPC for in-country production of refined petroleum products. But reacting to this development, Kunle Olubiyo, President of the group, Nigeria Consumer Protection Networ

Fuel pump  By Akinola Ajibade Marketers are yet to fully agreed that Premium Motoring Spirit (PMS) otherwise known Petrol should be sold to Nigerians at N195 per litre. They include the Nigerian National Petroleum Company Limited (NNPCL), Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN).  While some marketers have accepted  in principle to start selling fuel fuel at N195 per litre after deducting the ex-depot price of N172/ litre from it, others are still fully dallying on the issue, claiming that the issue is far from being made possible. Some marketers, who spoke on condition of anonymity, said that the the oil marketing companies are yet to reach a consensus on the issue of selling fuel at N195/ litre, adding the it is not likely that the agreement to do so holds. Oil marketers said the agreement was reached at a meeting in Abuja on Tuesday, as p

By Akinola Ajibade The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday,  arrested an official of one of the Deposit Money Bank's( DMB) for alleged sabotage. The official, name withheld, was taken taken into custody for deliberately not uploading cash into her branch's Automated Teller Machines (ATMs) when the cash was available abs and people were quering at the ATMs.  The official, who is the Head, Stanbic Bank, Deidei Branch, Abuja was arrested by ICPC monitoring team, which stormed the bank around 1.30pm in order to ensure compliance and demanded explanation as to why the ATMs were not dispensing cash. However, response of the  Branch's Head of Operation that the bank just got delivery of the cash was unable to pacify the team  However, facts available to the ICPC operatives indicated that the branch took delivery of the cash around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash. Against

IGP Baba New naira notes  By Akinola Ajibade Nigerians, who are selling and defacing new naira notes of N200,500 and N1000 are facing arrest and prosecution soon unless they change from their criminal activities,  the Inspector-General of Police, IGP Usman Alkali Baba has said   Baba yesterday ordered the Deputy Inspector-General of Police in charge of the Force Criminal Investigations Department and the Assistant Inspector-General of Police in charge of the Force Intelligence Bureau, to commence arrest and prosecution of individuals, who was found selling and abusing the  naira notes issued by the Central Bank of Nigeria.  The order, which was conveyed in a statement signed by the Force Spokesperson, CSP Olumuyiwa Adejobi, quoted the police boss as imploring them to place officers and men of the Department and the Bureau across the nation on high alert. He further charged all supervisory Assistant Inspectors-General of Police and Commissioners of Police in char

By Favour Ajibade Over 11,000 Nigerians have expressed disapproval over the ways and manners, in which compensation of victims of oil pollution in the Niger Delta region and other issues are been addressed.  According to them, the issues have been delayed for long,  a development, which informed their decision to file a compensation claim at the London High  Court and to further hold Shell  accountable for its actions of on overseas  subsidiaries. Before now, the  United Kingdom based  Supreme Court had  allowed a group of 42,500 Nigerian farmers and fishermen  to  sue Shell in the English courts after years of oil spills had contaminated land and groundwater. In the ruling then, it was established that  Shell, one of the world’s biggest energy companies, was responsible because it exercised significant control over its Nigeria subsidiary SPDC. Not done yet, a  UK law firm Leigh Day last Thursday,  filed claims on behalf of 11,317 people and 17 institutions including church

 An outlet without queue in Abuja By Favour Ajibade Queues have disappeared at filling stations within and outside Abuja, as the Nigeria's Federal Capital Territory ( FCT) as the Nigerian National Petroleum Company Limited( NNPCL) supplied 67 million litres of fuel to marketers in the area. States such as Niger, Kogi, Kebi, etc have heaved a sigh of relief as NNPC pumped fuel to marketers in those places. The affected marketers include Nipco, NNPC, Salbas ,and a few others on the busy Kubwa-Zuba Expressway, which are dispensing products to motorists seamlessly. However,  this was not the case on Tuesday and other days. Also, outlets in Nyanya, Nasarawa State, and Zuba, Niger State, sold products to motorists and had no queues on Wednesday, contrary to what obtained the preceding day, where there were very limited filling stations in operation. Virtually all the major filling stations that used to have heavy queues before were seen without queues on Wednesday, as most of

By Akinola Ajibade  Sahara Group, is equipping young professionals with cutting edge skills, in order to transform them into  class experts in areas such as energy,  infrastructure and others.  The group provides services in 42 countries across Africa, Europe, Asia and Middle East, and is likely to extend its scope of operations beyond the above-mentioned continents in the nearest future, once opportunities beckon.  To achieve these goals, Sahara has started receiving applications into its prestigious Graduate Management Trainee (GMT) Programme,a widely acclaimed platform for young professionals desirous of ‘Making A Difference’ (MAD) in the world. Its Executive Director,  Moroti Adedoyin-Adeyinka,was quoted in a statement as saying that the programme offers fast-paced growth within the organization evidenced by Sahara’s proven record of transforming young professionals into world-class experts. She also said:“Today we have success stories of former GMTs who have grown into

By Favour Ajibade Exxon Mobil Corporation posted $56 billion profit in 2002, a record described as historic high in the Western Oil Industry. The United States based oil and gas firm,  in a statement yesterday (Tuesday) noted that it took home about  $6.3 million per hour  in the previous year.  With head office based in Irving, Texas United States, the firm's results far exceeded the then-record $45.2 billion net profit it reported in 2008, when oil hit $142 per barrel, 30% above last year’s average price. Deep cost cuts during the pandemic helped supercharge last year’s earnings.  “Overall earnings and cashflow were up pretty significantly year on year,” Exxon Chief Financial Officer Kathryn Mikells told Reuters. “So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control.” Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a European Union windfall tax that began in the final

The newly commissioned Port in Kano By Akinola Ajibade  The Federal Government says that it has concluded arrangements to move shipping and port services closer to importers and exporters in the hinterland  with a view to encourage economic growth.  The government plans to carry out this functions through its inland cry ports across the country.  The government said this through its Minister of Transportation Mu'azu Jaji Sambo, while commissioning  Dala  Inland Dry Port in Kano State recently. Sambo , in a statement issued by the Ministry Director of Press and Public Relations, Henshaw Ogbuike and made available to News Mirror, said that importers and exporters of goods would not  have problems accessing their products from foreign countries soon. According to him, the government has established many Inland Dry Ports across the country, adding that those ports would help in taking goods shopped from Europe or those exported to their owners in Nigeria.. Continuing furthe

Drivers refuse to work By Akinola Ajibade Nigeria may experience a more daunting economy, if the threats by the  Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN),to down tools over the lingering fuel scarcity soon, is anything to go by. Penultimate week, PENGASSAN through its President and General Secretary,  Comrades Festus Osifo and Lumumba Okugbawa respectively threatened to embark on a national strike, in the event that the Federal Government and other relevant authorities in the nation's petroleum industry, refuse to stop the on-going r as racketeering in the fuel supply chain and further put an end to acute shortage of fuel, which has entered its third months in Nigeria. According to a statement, signed and issued to the News Mirror yesterday ( Monday), the body does not see any justification for increase in price of fuel and the attendant agony imposed on majority of Nigerians. The group further carpeted oil  marketers for selling fuel to

Sawan  By Akinola Ajibade Newly appointed Chief Executive Officer, Shell, Mr Wael Sawan, yesterday, unfolded plans to effect major changes in the multinational oil company. He said the firm would combine its oil and gas production and liquefied natural gas (LNG) divisions, in line with plans to have broader institution under his control, adding that the development may lead to some job cuts  The new entity, which combines Shell’s most profitable operations, Sawan said,will be headed by current Upstream Director, Zoe Yujnovich, the company said in a statement made available to News Mirror.  Sawan took office on Jan. 1 after heading Shell’s integrated gas division, which included the group’s LNG and renewables businesses, with a vow to simplify and improve the company’s operations. Under the internal restructuring, renewables operations will be combined with Shell’s oil refining and marketing operations led by current downstream director Huibert Vigeveno, the company said. Th

DSS's officials By Akinola Ajibade The Department of State Services(DSS) has  arrested some members of an organised syndicate selling the new naira notes in parts of the country,the agency has said in a statement. DSS, however, has refused to disclose their  names and locations.  Also, the agency said that some  officials of a commercial bank  were aiding and abetting the crime.  This comes on the heels of efforts of the anti-corruption agencies namely  Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices Commission, ICPC,  to invoke the acts establishing them on the banks.  In a statement issued yesterday and signed  by the agency's Public Relations Officer, Dr. Peter Afunanya,  DSS warned that it would go after those involved in the malfeasance. The statement read: “The Department of State Services, thereby informed the public that it has intercepted some members of organised syndicates involved in the sale of the new re-designed n

Scene of the fatal accident By Favour Ajibade No fewer than nine passengers have been reportedly crushed to death as a 20feet laden container fell on a commercial bus in the Ojuelegba area of Lagos State. It was learnt that the commercial bus was picking up passengers at the bus stop along the Ojuelegba Bridge when the truck lost control and fell over the side of the bridge on yesterday. Director-General of the Lagos State Emergency Management Agency (LASEMA), Olufemi Oke-Osanyintolu, confirmed the incident in a statement. He said a woman was rescued alive from the crushed bus. “Upon arrival at the scene, a truck conveying a 20ft container was found to have landed on top of a commercial bus. Further investigations revealed that the bus was picking up passengers when the truck lost control and fell over the side of the bridge. “After suspending the container load with the aid of the agency’s forklift and cutting off the top of the bus with light rescue equipment, a single ad

By Akinola Ajibade A Federal High Court sitting in Lagos, yesterday,  sentenced a businessman, Kenneth Ndubushi Amadi to 18months imprisonment over N2.4billion fraud. Presided over by Justice Lewis- Allagoa, the court found Amadi , a Chief Executive Officer, IDID Nigeria Limited, guilty of counts 4 and 5 of the criminal chsrge made against him by the Federal Government of Nigeria ( FGN) through the office of Attorney General of the Federation  (AGF) In his judgement, Allagoa sentenced  Amadi to eighteen months jail term without an option of fine and also equally ordered IDID Nigeria Limited be liquidated with immediate effect. Recall that the Amadi and the firm were dragged before the court by the FGN when he held sway as the Chief Operating Officer (COO) of Eunisell Limited, a company founded by Chief Chika Ikenga. Prior to Justice Allagoa’s judgment, counsels had adopted their final written addresses on Tuesday, October 25, 2022. Meanwhile, at the last proceeding on the c