Let’s Support Tinubu, NNPCL – Civil Rights Group

A conference of civil society groups for good governance (CSGGG) is calling for collective support for the progress and growth of NNPC Limited under the capable leadership of Mele Kyari. They have expressed concerns about the negative efforts to discredit Mallam Kyari, the Group Chief Executive Officer of NNPC Limited, aimed at removing him from office to gain unrestricted access to state resources for personal gain. The group, represented by its President, Comrade Dominic Ogakwu, is responding to an unwarranted smear campaign against the remarkable achievements and ongoing progress of the Nigerian National Petroleum Company Limited (NNPC) in certain sections of the media. He refuted the claim that there is a secret award of control of Nigeria’s pipelines to a Northern oil cabal, calling it not only baseless and a product of the imagination but also a cowardly assertion. According to Ogakwu, the spreading of gross misinformation and unsupported allegations regarding oil pipeline rehabilitation and surveillance contracts has become a weapon of choice for these unpatriotic elements. He emphasized that these recent attempts lack substance and are mere distractions. He issued a warning to those determined to undermine President Bola Tinubu’s transformative leadership, urging them to reconsider their actions and cease their meaningless agitations and threats. Ogakwu further explained, “To award such a contract, a transparent tendering process is required, involving public notices and invitations for qualified companies to bid. The contracts have been awarded following rigorous procedures consistent with industry norms, and each bidding company underwent a competitive tender selection process, overseen by regulatory institutions such as the Bureau of Public Procurement (BPP), Infrastructure Concession Regulatory Commission, transaction advisors, Nigeria Extractive Industry Transparency Initiative (NEITI), and the Ministry of Justice.”

Petrol Landing Cost: Probe NNPC, Kyari– PDP BoT Member

A member of the People Democratic Party (PDP), National Presidential Campaign Council, Adetokunbo Pearse, says Nigerians have a right to know the actual landing cost of Premium Motor Spirit (PMS). Dr Pearse, speaking on Channels Television’s Sunrise Daily on Monday, stated that a thorough scrutiny should be carried out on the Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over the fluctuation of landing cost. “The way you solve a problem is to go to the source. Let the president go and interrogate NNPCL and let us find out – announce to the country what the landing cost is so that we know exactly what we can make, and how much we can sell oil that will not cripple the economy. That’s what we need to do,” he said. He lamented that going back to the NNPC would affect the landing cost of imported fuel. “When you go to the NNPCL, you find out that the landing cost is so low, the price that is given. The landing cost at one point was 50 naira per litre, now it’s about 150 per litre.” According to the Lagos State Coordinator, Atiku/ Okowa Presidential Campaign Support Group, the emergence of the Dangote Petroleum Refinery and the repair of the local refineries ought to reduce the landing cost of the product in contrast to the NNPCL boss’ comment. “One of the reasons I said we need to go to NNPCL is this: Kyari said on this Channels that even when Dangote oil comes fully on board, the price of pump fuel will not reduce – even with the production of oil in Port Harcourt and elsewhere. That man needs to be investigated. “Of course, if you refine your oil here, the man is already telling us that even when it is refined here, it is still not going to go down and you and I know that if we have our own refineries and we are refining the product here, the price should be more competitive,” he argued. As of September 2022, the NNPCL in a statement noted that PMS will cost consumers N462 per litre without the Federal Government’s subsidy. It added that the “rising crude oil prices and PMS supply costs above PPPRA (now NMDPRA) cap had forced oil marketing companies (OMCs) withdrawal from PMS import since the fourth quarter of 2017. In the wake of a deepening forex crisis, NIGERIAN ANCHOR had reported that oil marketers signalled a potential surge in the cost of Premium Motor Spirit (PMS), commonly known as petrol, projecting prices between N680/litre and N720/litre in the near future. The escalation hinges on the prevailing exchange rate, which oscillates between N910 and N950 for a US dollar in the parallel market. Market insiders have also disclosed that the scarcity of foreign exchange has prompted prospective PMS importers to shelve their plans temporarily. This revelation emerges shortly after the local currency surpassed the N900/dollar benchmark, with the naira trading at over 945/dollar in the parallel market on Friday. As a result, the shortage has forced dealers who were initially eager to import petrol to suspend their plans. Leaders of notable organizations such as the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria have underscored the need for the Federal Government’s intervention to address the mounting crisis.

Our gas transportation projects will bring affordable, cleaner energy- NNPCL

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) has emphasized the company’s commitment to vigorously pursue its gas development and gas transportation projects. This declaration was made on Monday during a keynote address at the Society of Petroleum Engineers’ Annual International Conference and Exhibition, which centers around the theme “Balancing Energy Accessibility, Affordability, and Sustainability: Strategic Options for Africa.” Represented by the Executive Vice President, Upstream, NNPCL, Mr. Adokiye Tombomieye, the CEO expressed that the gas projects will significantly enhance energy accessibility, affordability, and sustainability for Nigerians. Nigeria holds vast natural gas reserves, totaling about 209.5 trillion cubic feet, with the potential for up to 600 trillion cubic feet. This abundant resource is expected to drive a cleaner and more affordable energy vision. While acknowledging alternative energy sources like solar and wind, the CEO pointed out their technological limitations, high cost, and inability to meet the robust energy demands of industries, cities, and remote areas. Gas, on the other hand, holds the potential to address these challenges effectively. The CEO appreciated the Society of Petroleum Engineers for consistently leading the way in assembling pivotal industry professionals. However, he highlighted the trilemma situation faced by African countries, striving to balance energy accessibility, affordability, and sustainability while aligning with the United Nations Sustainable Development Goals. He emphasized that achieving this delicate balance requires political will, technological innovation, effective market mechanisms, well-crafted policy interventions, and capacity building. A multi-stakeholder approach, involving government, the private sector, civil society, host communities, and the public, will be pivotal in achieving these goals. The Nigerian energy industry has witnessed strategic transformation in recent years, leading to viable industry legislation with the Petroleum Industry Act (PIA) and a long-term gas-centered energy transition plan. Additionally, the PIA has enabled NNPC Limited to venture into the renewable energy business, while the Nigerian Climate Act has mainstreamed climate change actions for sustainable development. The proactive measures undertaken by the Nigerian energy sector hold the promise of bringing affordable, cleaner energy to the nation while ensuring a greener and sustainable future.