All Posts in "Day: August 7, 2024"

We’re Not Involved In Economic Sabotage -NNPC

Mohammed Shosanya

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mr. Mele Kyari,says the company has not breached any of the enabling laws guiding its dealings with partners.

He said the company should be counted out of any claims of economic sabotage.

Olufemi Soneye,Chief Corporate Communications Officer,NNPC Ltd,conveyed Kyari’s submissions at the gathering,in a statement made available to Premium News on Wednesday.

He spoke while addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry at the National Assembly on Wednesday,where he also that refining business is a straightforward business which any investor should know before coming into the market.

“Refining business is a straightforward business. You must secure (a source for) your feedstock and you must find a market. This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery,” Kyari stated.

According to him,the law is very clear on domestic crude oil supply obligation and also on providing for local refineries. However, Kyari added, the same law also said that there must be a willing buyer and a willing seller.

On alleged importation of sub-standard products into the country, Kyari said the NNPC Limited has nothing to do with that as the relevant regulatory agencies will, by law, not allow any sub-standard product into the country.

He also supported calls for the Ad-hoc Committee to beam the interactive sessions live on national television to prevent misinforming Nigerians.

He explained that there is enough infrastructure to produce two million barrels of crude per day but the challenges of crude oil theft, pipeline vandalism and absence of investment in the upstream are the major factors hindering the sector.

He said as a company owned by the over 200 million Nigerians, the NNPC Limited has grown from a loss-making position to a profit-making entity.

Pledging full co-operation towards the Committee in its efforts to unravel the allegations being investigated, Kyari said the NNPC Limited, its entire board, management and staff remain loyal, faithful and committed to Nigeria and will continue to act in line with the provisions of the Petroleum Industry Act (PIA), the Company & Allied Matters Act (CAMA) and other enabling laws and regulations governing the nation’s energy Industry.

“We are faithful, loyal and committed to the progress and development of this country. It is our duty to protect the overall interest of this great nation. We are not in breach of any rules,” Kyari added.

admin by — August 7, 2024 in Oil&Gas 0
NDDC Pledges Increased Support For Education, Sustainable Development

Mohammed Shosanya

The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, has assured that the Commission will continue to play a strategic role in the development of education to ensure sustainable development in the Niger Delta region.

Ogbuku stated this in a keynote address during the 2024 Moot and Mock Trial Competition for law Faculties in the universities of the Niger Delta region, held at the Dr Nabo Graham Douglas Port Harcourt Campus of the Nigerian Law School, a statement from Seledi Thompson-Wakama,Director,Corporate Affairs said.

He said: “The NDDC has intervened in various areas of our educational development, such as its scholarship schemes, building hostels, providing electricity and many other infrastructure projects in educational institutions across the region.

“Since our assumption of duty at the NDDC, we have made educational development and human capacity building our key policy thrust. The previous negative narrative of the NDDC is changing due to the conscious and sustained efforts to chart a new course of development for the region.

“After our Rewind to Rebirth initiative, we resolved to Transit from Transaction to Transformation, which entails making a real difference in the lives of our people, as part of our contribution to the Renewed Hope Agenda of President Bola Ahmed Tinubu.

“We have reactivated and strengthened our foreign post-graduate scholarship scheme, making it more merit-based and funding it adequately to prevent the challenges of the past. We also reactivated and strengthened our free medical outreach programme, which provides top notch healthcare to our people in the grassroots.”

He noted that the region had enhanced development of jurisprudence in Nigeria and contributed immensely to the development of the legal profession.

“Indeed, the region boasts of producing some of the finest legal philosophers in Nigeria, from the Late Justice Udo Udoma, Late Justice Chukwudifo Oputa, Hon. Justice Ndoma-Egba, Justice Victor Ovie-Whiskey, Justice Niki Tobi, Justice Nabo Graham Douglas and Justice Walter Onoghen.

He announced that the NDDC would sponsor the oustanding faculty of law to undertake a one-month internship at the law firm of O.C.J Okocha in Port Harcourt.

Also speaking, the Chairman, NDDC Governing Board, Mr. Chiedu Ebie, said that the Commission would institutionalise the Moot and Mock competition to ensure the it endures.

He said that the Commission would continue to play its statutory role in developing and supporting other efforts to advance education, as well as support the development of legal education through practical trainings to improve capacity.

Ebie maintained that the strengthening of law and order was critical to the development of the region because it would ensure that all stakeholders contributing to regional development operated within the limits and expectations of the law.

The NDDC Chairman promised that the Commission would underwrite the one-year subscription to the Nigerian Weekly Law Reports for all the participating law faculties in the Moot and Mock competition.

Speaking earlier, the Special Guest of Honour, Chief O.C.J Okocha, commended NDDC for sponsoring the Moot and Mock Trial competition for law students, stating that it was an essential component of legal training.

Okocha, a former President of the Nigerian Bar Association, stated that human capacity building was a very important factor in the development of any region, adding that it was central to the development of critical thinking in all professions.

He observed that the recent establishment of the South-East Development Commission and the North-West Development Commission raised some fundamental questions, given the political considerations that informed the move.

He said: “I hope the establishment of these commissions will not whittle down the importance attached to the NDDC as a vehicle for the rapid development of the Niger Delta region. These new commissions should not be used to undermine the effectiveness and usefulness of the NDDC.

“The Niger Delta is still a special region that needs special attention from the central government as the goose that lays the golden eggs for the country.”

In his welcome address, the NDDC Director of Legal Services, Dr Stephen Ighomuaye, said that the intellectual engagement of the youths of the region was a strategic mechanism to be consciously developed in finding creative solutions to the challenges facing the region.

He stated: “At the NDDC, we firmly believe that engaging the region’s youth intellectually is a vital strategy that should be actively nurtured and cultivated to address the unique challenges faced by the region, rather than turning to violence.”

admin by — August 7, 2024 in Education 0
CBN Okays Unity,Providus banks Merger

Mohammed Shosanya

The Central Bank of Nigeria has approved the merger of Providus Bank and Unity Bank.

Acting Director, Corporate Communications, Hakama Sidi,who disclosed this in a statement on Tuesday,explained that the action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007.

The development,the bank said,signals the first merger to be approved following a mandate by the apex bank to increase its minimum capital base

Besides,the apex bank also announced approval of a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited.

It said,the strategic move is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks.

The statement read: “The Central Bank of Nigeria has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks.

“The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders. It is unequivocal to state that the CBN’s action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007.

“This arrangement is crucial for the financial health and operational stability of the post-merger organisation.”

admin by — August 7, 2024 in Banking&Finance 0
‘Nigeria Must Diversify Means Of Transporting Petroleum Products’

Mohammed Shosanya

Sola Adebawo, Heritage Energy’s GM, Government Joint Ventures and External Relations,has advocated the need for diversification of means of transporting petroleum products in the country.

“98% of refined petroleum products within Nigeria are moved by road transportation, leading to high cost per unit volume and safety concerns.There’s need to find a solution to this,” he said during a panel session, which he moderated, at the ongoing Nigeria Annual International Conference and Exhibition (NAICE) organized by the Society of Petroleum Engineers (Nigeria council), on Tuesday.

The panel, which was titled: Unlocking upstream value: developing markets, trade access and facilitating partnerships in the midstream and downstream, featured seasoned industry professionals.

These included Engineer Oluseyi Afolabi, Principal Consultant & Chief Executive Officer, Reservoir & Facilities Solutions Ltd; Babafemi Onasanya, General Manager, Subsurface, Oando Energy Resources; Dr Goodluck Enimakpokpo, the Major Strategic Accounts, Nigeria & Anglophone WA GE Venoa; Gbite Falade, MD/CEO, Aradel Holdings and Ogbugo Kalu Ukoha, Executive Director, Distribution Systems, Storage, and Retailing Infrastructure, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

They examined the crucial role of regulatory frameworks in fostering market access within the oil and gas value chain, analysed policies that streamline trade, incentivize partnerships, and cultivate an environment conducive to market growth.

The panellists also analysed how regulatory frameworks act as dynamic enablers, promoting not only efficient trade practices but also strategic partnerships.

Besides,solutions were proffered to the challenge of attracting capital market to the regional market integration framework and that of sustainability across the value chain.

admin by — August 7, 2024 in Oil&Gas 0
Protesters Calling For Coup Will Be Charged For Treason-Police

Mohammed Shosanya

The Nigeria Police Force (NPF),has warned against the display of foreign flags during protests and calls for a military takeover, categorizing such actions as treasonable felonies under the country’s law.

The develooment follows a wave of violent protests, particularly in Bauchi, Kano, Kaduna, and Katsina States, where protesters brandished foreign flags.

In a statement signed by the Force Spokesperson, ACP Olumuyiwa Adejobi in Abuja, the NPF said ongoing investigations reveal that protest organizers in the states mentioned above are luring innocent children into participating in these unpatriotic and criminal acts.

Over ninety suspects have been arrested, including tailors who sewed the flags and their sponsors,he said,adding that efforts are underway to apprehend others who sponsored the production of the flags and fuelled these treasonable acts.”

According to him,the display of foreign flags and calls for a military takeover constitutes a clear treasonable offense, revealing the motives of protest organizers to destabilize Nigeria’s democratic government.

“This aligns with actionable intelligence on the tactics of fifth columnists and non-state actors exploiting economic hardship protests to further their nefarious goals.”

Tensions from the ongoing protests, he stressed have “eased following President Bola Ahmed Tinubu’s address on August 4, 2024.

“However, some groups persist in subversive campaigns in the form of violent and unlawful protests, characterized by the destruction of public infrastructure and private property, looting, display of foreign flags, and calls for a military takeover. These individuals and groups will be treated as subversive agents and charged accordingly,” he said.

Adejobi further revealed that, “The Inspector General of Police, IGP Kayode Adeolu Egbetokun,has directed Deputy Inspectors General of Police for the Northwest and Northeast zones, DIGs Bala Ciroma,and Bello Makwashi, to take charge of operations in the states within the two geo-political zones where subversive campaigns are ongoing under the guise of protests.

“They are tasked with stabilizing the situation and preventing further violence in the affected states. The Nigeria Police Force reiterates that the use of foreign flags during protests and openly calling for a military takeover of the government is a capital offense under Nigerian law.

“The Police cautions Nigerian youths to be wary of individuals and groups turning protests into business ventures, funded by local or foreign sponsors aiming to destabilize the country.

“Evidence shows that these sponsors have paid significant sums to exploit the hardship protests, brainwashing and misleading innocent children into aiding this campaign against the government.

“The Nigeria Police Force salutes Nigerians who have refused to participate in and indeed spoke out against the ill-timed protest out of sheer patriotism and belief in the government’s genuine efforts to put the country on the path of economic recovery and growth.

“We also acknowledge the patriotism of those who peacefully participated in the protests but withdrew when they turned violent, and those who heeded the President’s call to embrace dialogue by withdrawing from the protests.

“The NPF remains committed to maintaining peace, protecting the nation’s heritage, and working with the public to ensure the safety and stability of Nigeria.”

admin by — August 7, 2024 in News 0
#EndSARS Protests:Court Orders LASG To Investigate Journalist’s Death,Prosecute Killers

Mohammed Shosanya

A Lagos Federal High Court has ordered the Lagos State Government to launch an investigation into the death of Mr. Pelumi Onifade, a 20-year reporter with Gboah TV, an online television channel, who was reportedly arrested by officers attached to a Lagos state task force while covering the #EndSARS protests in 2020.

He was later found dead at a mortuary in Ikorodu in Lagos, where his body was deposited.

The Court also ordered the state government to conduct a coroner’s inquest to ascertain the cause of the death of Mr. Onifade as well as identify and prosecute those responsible.

Delivering verdict in a suit filed by Media Rights Agenda (MRA) over the death of the journalist against the Police and the Lagos State Government, Justice Ayokunle Olayinka Faji agreed that the Government’s chief law officer “cannot just conduct an inquest without a duplicate of the case-file”.

He ruled that section 74 of the Administration of Criminal Justice Law (ACJL) of Lagos State gives the Attorney-General the power to request for a case-file from the Commissioner of Police.

The court dismissed five of the claims made by MRA against the Police on the ground that there was no evidence before the court to support them.

Justice Faji noted that none of the facts in MRA’s affidavit was denied by the Attorney-General who only raised an issue of law, adding that in the course of oral arguments, the Attorney-General’s counsel also undertook to conduct an inquest.

Lagos-based lawyer, Mr. Charles Musa, filed an originating summons on August 4, 2021, on behalf of MRA, against the Lagos State Commissioner of Police (COP), the Inspector-General of Police (IGP) and the Attorney-General of Lagos State.

In the suit filed pursuant to Sections 6(6) and 46(1) as well as 33, 35 and 39 of the 1999 Constitution; Articles 4, 5 and 9 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act, 2004; and Order II Rules 1, 2, 3, 4 and 5 of the Fundamental Rights (Enforcement Procedure) Rules 2009, the organization is asking the court to declare that:

· Mr. Onifade’s shooting in Oko Oba in Agege Local Government Area of Lagos State, by agents of the COP and the IGP on October 24, 2020 in the course of his journalistic work is unconstitutional and a gross violation of his fundamental rights as guaranteed by section 33 of the 1999 Constitution (as amended) and Article 4 of the African Charter on Human and Peoples’ Rights (Ratification and Enforcement) Act (Cap A9) Laws of the Federation of Nigeria, 2004;

· Mr. Onifade’s arrest and unlawful or restriction of his liberty by agents of the COP and the IGP on October 24, 2020 in the course of his journalistic work is unconstitutional and a gross violation of his fundamental rights as guaranteed by sections 35, 39 and 46(1) of the 1999 Constitution and Articles 5 and9 of the African Charter.

· The constitutional and statutory duties of the respondents do not extend to unlawful detention of innocent individuals who have not been charged to Court or found guilty of any offence by a competent court of law in Nigeria; and

· The cop and the IGP have an obligation to investigate crimes committed against Mr. Onifade, a journalist exercising his right to freedom of expression as guaranteed under Sections 33 and 39 of the Constitution and Articles 4 and 9 of the African Charter.

MRA also asked the court to issue three orders,directing the respondents to launch a transparent, impartial and independent investigation into the circumstances of the death of Mr. Onifade whose body was found in a morgue in Lagos; directing them to conduct a coroner’s inquest to ascertain the cause of his death; and directing them to identify and prosecute those responsible for his death.

In his verdict Justice Faji pointed out that although the COP and the IGP were served with the originating summons and other processes in the suit, they did not file any response.

He noted that Mr. John Gbadamosi, MRA’s Programme Officer who deposed to the affidavit in support of suit, did not witness any of the facts relevant to the matter, adding that there was also no documentation in support of the claim that Mr. Onifade’s corpse was deposited in a mortuary.

He also observed that although there was constant reference in the affidavit to the family of the deceased who, he said, would have the necessary information regarding their various interactions with the Police, none of them filed any evidence in support of the incident. He therefore dismissed the claims against the Police for lack of evidence.

He commended the Office of the Attorney-General of Lagos State for upholding the duties of the office by attending court and assisting the court in the matter.

He noted that the explanation by the Attorney-General’s lawyer that the reason a coroner’s inquest was not conducted was because the duplicate of the case file was not forwarded to his office.

According to him, in response to the court’s question on what the Attorney-General did about the matter since being served with the court processes, the lawyer submitted that the Attorney-General is ready to conduct an inquest.

Justice Faji maintained that the Attorney-General is not alleged to have known about the alleged unlawful killing of Mr. Onifade and is also not accused of being involved in the killing but that as stated by MRA, he has a duty to conduct an inquest into the circumstances of the death.

He said:“Indeed, in paragraph 15 of the counter­ affidavit, the 3rd respondent (the Attorney-General) has stated that he would prosecute anyone found to have a prima facie case established against him”.

Justice Faji directed the Attorney-General to take all necessary steps to see to the investigation of the circumstances of the death of Mr. Onifade and to conduct a coroner’s inquest to ascertain the cause of the death as well as identify and prosecute those responsible for his death.

admin by — August 7, 2024 in Law/Human Rights 0
FG Inaugurates Committee To Immortalize King Jaja Of Opobo

Mohammed Shosanya

The Federal Government has inaugurated technical committee for the implementation of the King Jaja of Opobo Cultural and Historical Centre in Opobo, Rivers State.

The inauguration was conducted by the Minister of Arts, Culture, and the Creative Economy, Bar. Hannatu Musa Musawa, in her office in Abuja.

Inaugurating the committee,Minister Hannatu Musa Musawa underscored the importance of the project in preserving Nigeria’s cultural heritage.

“This project signifies a milestone in our collective resolve to elevate Nigeria’s Art and Culture. One of the Ministry’s core mandates is to immortalize past heroes by promoting national heritage and values.

“Today’s event demonstrates our readiness to collaborate with any entity that seeks to honor individuals whose contributions have significantly shaped our cultural identity,” she said.

The Minister explained that the project is designed as a historic tribute to cultural renaissance and a clarion call for cultural preservation.

“It aligns with Nigeria’s vision to leverage the Art, Culture, and Tourism sectors for job creation and GDP growth. Cultural and Historical Centres foster peace, unity, and national cohesion, benefiting both Nigerians and the international community,” she noted.

She urged the Technical Committee members to view their selection as a national duty.

“You are expected to serve as a liaison between the Federal Government, the State Government, and the Host Community. Your tasks include developing a Work Plan, strategizing the project’s implementation, and proposing essential terms of reference for its success,” she instructed.

Leading the Rivers State delegation, His Royal Majesty King (Dr.) Dandeson Douglas Jaja, Jeki V, Treaty King, Natural Ruler, the Amanyanabo of Opobo Kingdom, expressed his appreciation to the Federal Government.

“This initiative is a fulfillment of a long-standing desire to immortalize King Jaja of Opobo for his contributions to the emancipation of black people and the independence of Nigeria. This project is a significant and unprecedented step by the Federal Government to honor King Jaja’s legacy.

“King Jaja highlighted the local community’s long-standing advocacy for the project and its alignment with the state government’s vision. “This project has been a dream for over seven years, and we are delighted to see it finally take off with the support of the Federal and State Governments,” he added.

Speaking,Hon.Awaji-Inombek Abiante, member representing Andoni/Opobo/Nkoro Federal Constituency of Rivers State,commended the Federal Government for taking significant steps to immortalize King Jaja of Opobo.

Abiante emphasized that the initiative will enhance exposure to and immortalize the legacy of King Jaja through in-depth research, showcasing the heritage of the people to the world. He noted that both the local community and Nigerians, in general, stand to benefit significantly from the project.

“As a servant of the people, achieving success in a mission brings immense joy and satisfaction. This project has been in the works for seven years, and despite initial setbacks due to differing visions, we are thrilled that a Minister has now embraced our vision. Today marks the beginning of realizing our intentions, expanding even beyond our initial conception. We are glad,” Abiante stated.

He further highlighted the multifaceted benefits of the project, including job creation, tourism development, and the promotion of the blue economy.

According to him, “This initiative will transform the region into a tourism hub in Rivers State and the South-South. With our aquatic splendour, neighbouring areas with elephants, wide beaches beside the Atlantic Ocean, and other resources, the potential is immense,” he added.

admin by — August 7, 2024 in Arts/Entertainment 0
NERC Transfers Regulatory Oversight To Oyo Govt

Mohammed Shosanya

The Nigerian Electricity Regulatory Commission (NERC) has granted Oyo State the authority to establish and regulate its own electricity market, in compliance with the amended Constitution and Electricity Act 2023.

The transfer of regulatory oversight from NERC to the newly create Oyo State Electricity Regulatory Commission (OSERC) will allow the state to manage its intrastate electricity generation, transmission, supply, and distribution,a statement said on Tuesday.

The agency has directed Ibadan Electricity Distribution Company (IBEDC) to incorporate a subsidiary, IBEDC SubCo, within 60 days to assume responsibilities for electricity supply and distribution within Oyo State.

According to the agency,the subcompany must apply for and obtain a license from OSERC for intrastate operations.

The transfer of regulatory authority is expected to be completed by February 5, 2025.

This move aligns with the amended Electricity Act 2023, which mandates states to establish their own regulatory bodies for intrastate electricity markets and notify NERC for the transfer of authority.

NERC ‘s statement reads in parts: “In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”) has issued an order to transfer regulatory oversight of the electricity market in Oyo State from the Commission to the Oyo State Electricity Regulatory Commission (OSERC).

“Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state and international generation, transmission, supply, trading and system operations.

“The EA also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the state to the State Regulator.

“Based on this, the Government of Oyo State complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Oyo State”.

NERC listed the provisions of the transfer Order to include:direct Ibadan Electricity Distribution Company (IBEDC) to incorporate a subsidiary (IBEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Oyo State from IBEDC; IBEDC shall complete the incorporation of IBEDC SubCo within 60 days from 6th August 2024; and that the subcompany shall apply for and obtain licence for the intrastate supply and distribution of electricity from OSERC, among other directives.

admin by — August 7, 2024 in Power 0