News
Minister Urges NNPCL to Abandon State Refineries and Invest in Dangote
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has called on the Nigerian National Petroleum Company Limited (NNPCL) to cease operations at Nigeria’s struggling Port Harcourt, Kaduna, and Warri refineries.
He urged the company to instead shift focus toward acquiring a larger equity stake in the Dangote Refinery, a private sector-driven enterprise that is already making significant strides in boosting the country’s petroleum refining capacity.
Lokpobiri’s recommendation was made public during his speech at the ongoing Crude Oil Refinery Owners Association of Nigeria Summit in Lagos.
In his address, Lokpobiri, represented by Dangana Tende, Deputy Director of Upstream at the Ministry of Petroleum Resources, stressed that the government is committed to fully implementing deregulation in the downstream sector of the oil industry.
He emphasized that NNPCL’s future should be tied to investment in private refineries, such as the Dangote Refinery, rather than operating outdated state-run refineries that have continuously failed to meet expectations.
He noted that “we urge the state oil company to take equity in the other upcoming refineries rather than focus on running state-owned ones.
The government will ensure that downstream deregulation is implemented 100 percent.”
This bold statement comes at a time when Nigeria’s four major refineries – Port Harcourt, Kaduna, and Warri – have remained non-functional for nearly 24 years, despite significant financial injections for turnaround maintenance.
These facilities, with a combined capacity of 445,000 barrels per day, have yet to produce any substantial output in decades, making Nigeria reliant on imports for refined petroleum products.
Over the years, the NNPCL has repeatedly made promises to bring the Port Harcourt Refinery back online, setting several deadlines for the production of petroleum products.
However, none of these targets have been met, and the refinery continues to drain resources without delivering results.
This situation has heightened the need for a shift in strategy, which Lokpobiri has firmly advocated for.
Meanwhile, the Dangote Refinery has emerged as a game-changer for Nigeria’s oil industry.
With a refining capacity of 650,000 barrels per day, the facility began distributing Premium Motor Spirit (petrol) on September 15, 2024, with NNPCL acting as the sole off-taker.
This move is expected to significantly reduce Nigeria’s dependence on imported fuel and stabilize the local market.
Currently, NNPCL holds only a 7.2 percent stake in the Dangote Refinery, a figure that Lokpobiri believes should be increased to reflect the government’s commitment to supporting private initiatives that contribute to national energy security.
He highlighted that investing more in the Dangote Refinery and other private refineries would be more beneficial for Nigeria’s future than continuing to pump resources into moribund state-run facilities.
The call to abandon the state-owned refineries has sparked conversations about the future of Nigeria’s oil industry, especially as the country moves towards full deregulation of the downstream sector.
Lokpobiri’s recommendation underscores the government’s intention to foster a competitive and efficient oil sector driven by private enterprise, as well as its determination to end the era of wasteful spending on refineries that offer little return on investment.
News
Peter Obi Mourns the Passing of Justice Emmanuel Ogwuegbu
Peter Obi, the former governor of Anambra State and a prominent political figure, has expressed deep sorrow following the passing of Justice Emmanuel Ogwuegbu, a respected former Supreme Court Justice.
In a message, Obi described Justice Ogwuegbu as a beacon of integrity whose legacy of truth, justice, and fairness has left an indelible mark on Nigeria’s judiciary.
Justice Ogwuegbu served in the Nigerian judiciary for several decades, with a distinguished 11-year tenure at the Supreme Court.
During his time on the bench, he earned a reputation for his unwavering commitment to justice and truth, holding fast to the principles of fairness, no matter the case or the parties involved.
His tenure was marked by a resolute dedication to ensuring that the rule of law prevailed in all matters, and his decisions were often seen as beacons of impartiality and reason.
Obi took a moment to reflect on the challenges facing Nigeria’s judiciary today, noting that it has come under pressure, much like the country’s political landscape.
In recent times, justice has sometimes been perceived as transactional, with fairness often compromised.
However, Justice Ogwuegbu stood as an example of what the judiciary should represent—an unwavering pillar of integrity that serves the common man, ensuring that the law applies equally to all.
As Obi mourned the loss, he praised the legacy left behind by Justice Ogwuegbu.
His career was a testament to the values of honesty, dedication, and fairness.
Obi encouraged current members of the judiciary to follow in Ogwuegbu’s footsteps, upholding the same high standards of justice and integrity.
He stressed that the judiciary’s role as a protector of fairness and truth is crucial, especially in today’s challenging times.
On behalf of his family and the Obidient family, Obi extended his heartfelt condolences to the Ogwuegbu family and the entire legal community.
He expressed sympathy for the loss, acknowledging the profound impact Justice Ogwuegbu had on the legal profession.
Obi prayed that God would grant strength to the Ogwuegbu family and the legal community in this difficult time, and that the late justice would be granted eternal peace.
News
Tinubu Calls for Peace and Fairness in Ondo Governorship Election
President Bola Tinubu has urged political stakeholders and the people of Ondo State to prioritize peace and responsible behavior as the state prepares for its governorship election.
He emphasized the importance of a free and fair process to uphold Nigeria’s democratic legacy, which has spanned over 25 years.
This call was made in a statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Tinubu appealed to political leaders, candidates, and voters to ensure that their actions reflect respect for democratic values, both during and after the election.
He highlighted the critical role of the Independent National Electoral Commission (INEC) in maintaining credibility.
Tinubu commended INEC for its thorough preparations, including the early distribution of sensitive electoral materials across Ondo’s 18 local government areas.
He stated that this proactive step ensures the smooth running of the election and strengthens public trust in the process.
The President also expressed gratitude to the Inspector-General of Police and the Chief of Defence Staff for deploying security personnel to ensure a peaceful environment.
He emphasized the need for professionalism from these officers, urging them to strictly adhere to the provisions of the Electoral Act to guarantee a secure and impartial election.
In his statement, Tinubu reminded political stakeholders, particularly the candidates, that leadership is a privilege granted by the people.
He stressed that this privilege must be treated with the utmost respect, and the people’s right to choose their leaders freely must not be compromised.
He further encouraged all Nigerians to see the Ondo election as an opportunity to strengthen the nation’s democratic foundation.
According to him, peaceful and transparent elections are not just beneficial for the state but for the entire country’s political stability and progress.
News
Regina Daniels Responds to Query About Her Marriage to Ned Nwoko
Actress Regina Daniels has addressed a controversial question about her relationship with her older husband, politician Ned Nwoko.
During a Snapchat interaction, a follower asked, “Do you enjoy your old man’s dixk or just the money?”
In response, Regina simply wrote, “Na collabo ooo,” suggesting mutual benefits in their relationship.
The actress’s reply has sparked mixed reactions online, with many debating the intent behind her response.
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