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President Buhari Unveils New NNPC LTD

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President Buhari with GMD NNPC Mele Kyari

 

President Muhammadu Buhari has unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed.

Speaking at the historic occasion at State House Conference Centre, the President said Africa’s largest National Oil Company (NOC) would also support sustainable growth across other sectors of the economy as it delivers energy to the world.

At the event, which featured a Special rendition of the Theme Song ”Energy for today, Energy  for tomorrow, Energy for Everyone’‘ by an Ensemble, the president recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.

He expressed optimism that the NNPC Limited would sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA).

‘‘This is a landmark event for the Nigerian oil industry.

‘‘Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.

‘‘We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.

NNPC directs private depot owners to sell at government approved price or be blacklisted

‘‘By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on July 1, 1977. Forty-Four (44) years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector,” he said.

According to him, the provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company.

He said this would enable the company to operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.

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‘‘It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.

‘‘Coincidentally, I, on the 1st of July 2022 authorized transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today.

‘‘I therefore thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our National Oil Company from the good to the great,’’ he added.

The president, therefore, assured stakeholders in the industry that Africa’s largest NOC would adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent and viable NOC at par with its peers around the world.

He further stated that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, for the day days after tomorrow.

He thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.

Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assured international and local oil companies of adequate protection for their investments, ”the nation’s petroleum industry is no longer rudderless”.

He said: ‘‘From the onset of this administration, Mr. President never concealed his desire to create a more conducive environment for growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries.

‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.

”In fact, between 2015 and 2019, KPMG states that “only 4 percent of the $70 billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves.

‘‘We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us.”

Sylva described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.

He thanked the president for his ”unparalleled leadership, steadfastness, and unalloyed support towards ensuring that the country’s oil and gas industry is on a sound footing”.

The Group Chief Executive Officer of NNPC Limited, Mele Kyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.

He assured stakeholders and the global energy community that the new company was endowed with the ‘‘best human resources one can find anywhere in the industry.

‘‘NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world.” (NAN)

 

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President Tinubu Sends State Police Amendment Bill to Senate

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By Yusuf Danjuma Yunusa

President Bola Tinubu has transmitted a Constitution Alteration Bill seeking the establishment of state police to the Senate.

The Senate President, Godswill Akpabio, made this known during Tuesday’s plenary, adding that the Senate will consider the constitutional amendment bill on Wednesday, tomorrow.

Akpabio also announced that the states have promised to consider the state police bill on the same day once they receive it.

The proposed legislation seeks to amend relevant provisions of the 1999 Constitution to create a legal framework for state police across the federation.

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The move follows repeated calls by the President for constitutional reforms to enable states to play a greater role in securing their territories.

In February, Tinubu urged the National Assembly to amend the Constitution to accommodate state police, describing the reform as necessary to tackle terrorism, banditry and other security threats.

During his Democracy Day address earlier this month, the President vowed that terrorists, bandits and their sponsors would face the full weight of the law, insisting that no mercy would be shown to enemies of the state.

Tinubu said more than 13,000 terrorists had been neutralised within the last year and noted that terrorism-related deaths had fallen significantly compared to previous years.

However, he acknowledged that the continued captivity of schoolchildren abducted in Oyo and Borno states remained a painful reminder of the country’s security challenges.

The state police proposal has gained momentum in recent months, with both chambers of the National Assembly advancing constitutional amendment processes aimed at decentralising policing powers to the states.

The Senate is also expected to reconvene today for an emergency plenary session as lawmakers move to pass the bill and advance one of the most far-reaching security reforms in the country’s democratic history.

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PRP: Kwankwaso Not Our Member, Primaries Are Over – Secretary Dismisses Guza’s 69 Forms Claim

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Rabiu Musa Kwankwaso

 

 

The Peoples Redemption Party, PRP, has denied allegations that it sold 69 nomination forms to former Kano Governor Rabiu Musa Kwankwaso to “hijack” the party, saying all positions have been filled and Kwankwaso is not even a member.

Abdulkadir Guza had alleged that Kwankwaso procured 69 PRP nomination forms to take over the party’s structure ahead of 2027.

In an interview with Journalists on Monday, PRP Secretary Alhaji Musa Maigari said ”
As it stands, all positions in PRP have been filled. Primary elections are over, and every political party has concluded its primaries,” he said.

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He further stated that the person behind the allegation has no link to PRP. “The man who raised these allegations is not even our member. It is laughable at this time when primaries are over, someone is talking about primaries or nomination forms.”

The Secretary insisted there is no record of any form transaction with Kwankwaso or his representatives at the party secretariat.

Maigatari noted that the claim appears ill-timed, coming after PRP concluded its primary elections for the next election cycle.

He urged members of the public to disregard “baseless rumors” and rely only on information from the party’s official channels.

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El-Rufai Files No-case Submission, Insists DSS Lacks Evidence in Security Breach Case

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By Yusuf Danjuma Yunusa

Former Governor Nasir El-Rufai of Kaduna State on Tuesday opted for a no-case submission in his ongoing trial over alleged beach of national security.

The ex-governor made this known through his lawyer, Paul Erokoro, SAN, before Justice Joyce Abdulmalik of the Federal High Court in Abuja, shortly after State Security Service, SSS, closed it case.

When the case was called, the DSS lawyer, Oluwole Aladedoye, SAN, informed the court that the prosecution would not be calling further witnesses in the matter.

Aladedoye said with the evidence led so far, the prosecution was satisfied that it had been able to establish the offences with which El-Rufai was charged.

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Following the development, Erokoro notified the court that the defence planned to file a no-case submission, arguing that the prosecution had failed to establish sufficient evidence against the former governor.

He, therefore, sought two weeks to file the application, while the prosecution requested two weeks to respond.

Erokoro also applied for a variation of some of the bail conditions earlier granted to El-Rufai, describing them as stringent and difficult to meet.

He argued that the bail terms were too stringent, particularly the requirements for level 17 civil servants with properties in Maitama or Asokoro, as well as verification and attestation letters from the Kaduna State traditional council.

Aladedoye, however, opposed the request, insisting that qualified public officers who meet the conditions exist and urging the court to refuse the application.

Justice Abdulmalik, in her ruling, declined the application to vary the bail conditions.

The judge held that there are civil servants who own properties at the said location.

She adjourned the matter until Sept. 22 for the filing of the no-case submission and continuation of trial.

The DSS had sued El-Rufai after he claimed, during an Arise Tv interview, that he intercepted a telephone conversation involving the the National Security Adviser (NSA), Mr Nuhu Ribadu.

The ex-governor had alleged that the conversation, on the telephone, revealed instructions to security operatives to arrest him.

He linked the alleged directive to an incident at the Nnamdi Azikiwe International Airport on Feb. 12 after his return from Cairo, Egypt.

Mr El-Rufai, who was arraigned on April 23 for allegedly intercepting the phone conversations of the telephone line of the NSA, pleaded not guilty to the five-count further amended charge.

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