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NNPC Says Crude Oil Production, Price Benchmark for 2024 Budget Realistic

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The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic and realizable.

The Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari, gave the assurance during an interactive session with the Senate Committee on Finance at the National Assembly, Abuja, on Wednesday.

Speaking on the dynamics of the market in relation to the projected budget benchmark price of $77.96 per barrel, Kyari said: “With what we see in the market today and potentially in the year 2024 and even beyond the next two years, it is very unlikely to see $70 per barrel oil in the market. The oscillation we are seeing, sometimes you do see prices coming down to $75 to the barrel and sometimes it goes above it, overall, benchmarks are averages. We think that the proposal by Mr. President around the $77.96 is still realisable in 2024.”.

On the crude oil production projection, he stated: “The number we have is 1.785mbpd. This is cumulative of all oil produced in the country. This figure is inclusive of all production including crude oil and condensate. I need to make this clarification because of the reports in the media that our OPEC quota is 1.5million barrels per day. The OPEC quota is related only to crude oil. We also do between 250,000 to 300,000 barrels per day of condensate in our production. When you combine the two, the 1.78mbpd is realistic and realisable.”

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He expressed optimism that though there were challenges such as security and force majeure, the measures being deployed by the Federal Government would be able to take care of them to guarantee the projected level of production.

The GCEO also assured that NNPC Ltd. will maintain the level of dividends remittance to the Federation Account as stated in the Medium-Term Expenditure Framework, adding that the projected dividends from the Nigeria Liquefied Natural Gas Ltd. was also realizable and would be flowed directly into the Federation Account as stipulated by the law.

While answering a question on the Company’s Road Tax Credit Scheme, Kyari explained that all the roads being undertaken under the scheme would be duly completed, adding that the scheme was anchored by the Ministry of Works while the Federal Inland Revenue Service and NNPC Ltd. were only playing supervisory roles to ensure that value is delivered for every kobo paid.
Speaking earlier, the Chairman of the Senate Committee on Finance, Senator Mohammed Sani Musa, said the purpose of the interactive session was to deepen conversations on the projections in the 2024 Appropriation Bill to help the lawmakers determine what and where to adjust.

He expressed satisfaction with the explanations offered by the NNPC Ltd.’s helmsman.

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Wike Kick-Starts Campaign for 2027 Election, Urges Rivers Electorates to Vote Tinubu

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By Yusuf Danjuma Yunusa

Minister of the Federal Capital Territory, Nyesom Wike on Tuesday urged the electorate in Rivers to support President Bola Tinubu for a second term in 2027 to sustain the progress being recorded in the state.

Mr Wike made the appeal during his “thank you” visit to Degema Local Government Area of Rivers.

He cited the unprecedented attention Tinubu is giving to Rivers ranging from development projects, appointments, and human capital development.

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The minister, who said that the Rivers people ‘never had it this good’, urged the people to continue their support for Tinubu to sustain the gains.

He noted that although the due attention given to Rivers was attracting envy from every quarters, supporting the reelection of Tinubu would take Rivera to greater heights.

He explained that the visit was to thank the people for the continued support, urging them to replicate the gesture in 2027.

Earlier, Peter Abe, member representing Degema LGA in the State Assembly, thanked Wike for providing the needed leadership in the state.

Mr Abe said that all communities in the state were witness to what the minister did in 2023, which was beneficial to all people in the state.

He thanked Wike for steering the state to progress, assuring him of the readiness of the people to follow his directives in 2027.

The Chairman of council, Michael Williams, assured the minister of continued support, adding that all the community structures in the LGA would support the reelection of Tinubu.

Williams noted that Wike initiative to support the election of Tinubu in the state in 2023 has brought progress in the state, stressing that supporting his reelection bid would sustain the progress.

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2027: Ex-DSS DG, Lawal Daura to Contest Katsina Governorship

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By Yusuf Danjuma Yunusa

 

Former State Security Service Director-General, Lawal Daura, has announced his plans to run for the 2027 governorship election in Katsina State. He criticized the current administration’s performance and highlighted ongoing security issues as key reasons for his decision to enter the race.

During an interview with DCL Hausa on Tuesday, Mr. Daura stated that he has finished consulting about his political aspirations and will soon reveal the political party under which he plans to run.

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He said, “I have been making consultations on the platform to use to contest, and the consultations have been concluded. Very soon, I will make the platform known.

“Why do people serve for one or two terms? If they get it right, fine. But if the reverse is the case, then there is no point in seeking re-election. It is obvious the current governor is not capable.

“It is like putting a load on somebody and adjusting it. If he complains that the load is too heavy, you have to take it down to avoid destroying fragile items. For the current administration, we can say thank you for your efforts, but you should take a break because you can’t continue.

“I never saw myself coming out to contest. I admire politics, but I only participated from the background.”

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Court reverses dissolution of NNPP executives

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Kano high court has invalidated the dissolution of state, local and ward executive Council of the New Nigerian Peoples Party (NNPP) in Kano, amounting the decision of the National Working Committee (NWC) null and void.

In an exparte order granted by Justice Nasiru Saminu on Tuesday, the equally restrained the National Working Committee of NNPP from taking any further step regarding the leadership structure of the party in Kano until the hearing and determination of motion on notice filed by the plaintiff.

In a suit No. K/06/2026 instituted by one Abdullahi Zubairu Imam and five others (plaintiffs) on behalf of the executive Committee of NNPP at 44 local government areas of the state was filed against the New Nigerian Peoples Party (NNPP) as defendant, challenging their dissolution.

In the interim injunction, Justice Saminu also directed all parties to maintain Status-Quo-Ante as at 30th December, 2025, prior to the purported dissolution directive issued by the NWC of the party.

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“After hearing on the matter filed by K.K. Njidda Esq with S.A. Muhammad Esq counsels to the Applicants the court hereby order an interim injunction restraining the Defendant/Respondent either by himself, his agents, privies cohort, ad-hoc Committees, National Working Committee or any other persons acting on its Instruction howsoever described from appointing Caretaker Committees for the State, Local Government and Ward levels Executives of Kano State or taking any further step In respect of the subject matter of this suit pending the hearing and determination of the Motion on Notice filed before this court.

“An order of interim injunction mandating the Defendant/Respondent maintain STATUS QUO ANTE as at 30 December, 2025 prior to the purported dissolution of the Kano State, Local Government and Ward levels executives pending the hearing and determination of the Motion on Notice.

“AN ORDER of this Honorable Court granting the Plaintiffs/Applicants to issue and serve the process in this suit on the Defendant at its National Secretariat situate at 11 Mahatma Gandhi Street, Area 11, Garki Abuja, Nigeria which is the outside the jurisdiction of this court”. A copy of the order as signed by Abba Sa’ad, registrar read.

Recall that the NWC of the NNPP declared the dissolution of the executive Council of the party across the party structure in Kano following the suspension of Hon. Hashim Dungurawa as Chairman of the party in the state. Dungurawa has been replaced by Abdullahi Abiya in acting capacity.

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