NNPC Is Struggling To Supply Crude To Dangote Refinery Because Ex-President Buhari Used Same As Collateral For Loans — PENGASSAN

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has explained the reasons behind the struggles of the Nigerian National Petroleum Company (NNPC) Limited in supplying crude oils to an indigenous refinery owned by Aliko Dangote.

Speaking in a recent Channels TV interview that SaharaReporters monitored on Thursday, PENGASSAN President, Festus Osifo, stated that the NNPC does not have enough crude to supply to the Dangote Refinery due to a loan taken by the previous government of Muhammadu Buhari, with the mineral resource used as a collateral.

He said, “We have very robust insights into what is happening today, into the price war that is going on between the Dangote Refinery as well as the government, represented by NNPC, in this case. And maybe I can share very few of them with us. What clearly happened was that Dangote built his refinery. 

"They started discussing crude supply. The first thing is that in the oil and gas industry, it’s a highly regulated industry." 

Osifo explained, “What those companies (IOCs) said is if Dangote Refinery wants them to supply them immediately, it should pay some premium. So the issue of premium was what led to the initial conversation around the Dangote Refinery and the allegation that they were not supplying the refinery crude. This is because most of these companies were asking for premium.

“Coming to the part of NNPC and we should get this clearly. NNPC also has its own crude. Some years ago, the Buhari government, they went to Afrexim. They borrowed money. And this money that they borrowed, some of these crudes were tied to pay back this money. So, literally, what Dangote should have done is that you should have started discussing crude supply, five years ago. You don’t start discussing crude supply six months into production.”

Osifo had also said that the decision not to buy fuel from Dangote refinery directly but rather buy from NNPCL was due to a pricing disparity between the costs at which the NNPCL buys PMS and the prices it sells to independent marketers.

He noted that there were instances that the NNPC might purchase PMS at approximately N950 but end up selling to independent marketers at around N700, which helped to reduce the price at which the NNPCL would have otherwise bought the fuel.

He said major marketers would buy directly from Dangote Refinery at a price similar to NNPCL’s purchase but would need to sell it at a higher price, potentially over N1000.

“Independent marketers prefer to purchase from NNPCL to take advantage of the lower prices,” he said. 

 

My Entire Family Is Shocked Over Ongoing Crisis In Niger Republic – Ex-President, Buhari

 

Immediate Past president of Nigeria, Buhari, has stated that he and his family are shocked over the latest turn of events in Niger Republic which has seen the overthrow of the country President, Mohamed Bazoum.

Republic of Niger came into the news on Wednesday as military juntas blocked the country’s presidential palace and seized power from President Bazoum.

Buhari had in the twilight of his administration boasted about how he would run to Niger Republic to have his “peace” should he be disturbed by Nigerians in Daura, Katsina State.

Reacting to the coup, Buhari on Twitter on Friday wrote, “As to be expected, I, like millions of other Nigerians, am shocked by the latest turn of events in Niger Republic. Concerns have been raised about the fate of democracy as a system of government in the country and in the wider sub-region, and equally so, about the safety of President Mohammed Bazoum and his family.

“I and my family are as much concerned about these as is everyone else. It is heartening to note that the ECOWAS, under the leadership of President Bola Ahmed Tinubu, is already dealing effectively with the matter, and our hope and prayers are that the unwanted situation will be completely reversed, and the safety and wellbeing of President Bazoum and his family ensured.”

Nigeria’s President Tinubu who is currently the Chairman of the Economic Community of West African States (ECOWAS), the US and many other countries across the world have condemned the Niger coup, while there have been expression of fear that the successful coup in Niger could expand the reach of Islamic extremism and Wagner in West Africa.

Obasanjo’s Endorsement Of Peter Obi Is Worthless – Tinubu Presidential Campaign Council Tackles Ex-president

 

The All Progressives Congress (APC) Presidential Campaign Council has dismissed Olusegun Obasanjo’s endorsement of Peter Obi, saying it has no value

 

 Former President Obasanjo on Sunday endorsed the presidential candidate of the Labour Party, Peter Obi for President in the 2023 election.

Obasanjo in his 2023 New Year message said though none of the contestants is a saint, Obi, a former Governor of Anambra State, has an edge.

But in a statement released on Sunday, the Director, Media and Publicity of the council, Bayo Onanuga said the APC presidential candidate, Bola Tinubu will not lose sleep over Obasanjo’s move as it is “actually worthless”.

It said in part, “We make bold to say that our party and candidate, Asíwájú Bola Ahmed Tinubu will not lose sleep over Obasanjo’s move, as Obasanjo is notorious for always opposing progressive political forces, as he did against MKO Abiola in 1993.

“The endorsement is actually worthless because the former President does not possess any political goodwill or leverage anywhere in Nigeria to make anyone win a Councillorship election let alone win a Presidential election. He is a political paperweight.

“He is also not a democrat anyone should be proud to be associated with.

“We recall that in 2003 and 2007 general elections when he was a sitting President, Obasanjo used all the coercive instruments of State at his disposal to railroad people into elective offices against the will of Nigerians as expressed at the polls. In 2007, he declared the polls a do or die affair after he failed in his bid to amend our constitution to have a third term.

“From our records, President Obasanjo has not successfully made anyone win election in Nigeria since then.

“Not even in Ogun State can anyone rely on his support or endorsement to become a governor or Councillor.

“We pity Peter Gregory Obi as we are confident that Chief Obasanjo cannot win his polling unit and ward in Abeokuta for Obi in the coming Presidential election on 25 February, 2023.

Chief Obasanjo’s endorsement is not a political currency Mr. Peter Obi can spend anywhere in Nigeria because he is not a political force, even in his part of the country.”

“We take particular notice of the part of the endorsement statement where Chief Obasanjo said none of the presidential candidates is a Saint.

“We want to state here that Chief Obasanjo is not a good judge of character. He is a man who considers only himself as the all-knowing Saint in Nigeria.

“Over the years, Chief Obasanjo has also convinced himself that integrity, honesty and all good virtues begin and end with him,” it further noted.

 

I Can’t Tell If I Would Contest – Ex-President, Jonathan Speaks On 2023 Election

 

Former President Goodluck Jonathan on Friday reacted to calls that he should run for the 2023 Presidency.

Jonathan said he could not tell if he would run for presidency in 2023, Daily Post report

He disclosed this while addressing some supporters who besieged his office in Abuja, asking him to run for the Presidency in 2023.

Jonathan was quoted as saying, “I cannot tell if I’m contesting.”

Hundreds of supporters, including women and youth groups, had stormed his office, asking him to contest for President in 2023.

The supporters arrived at the office with a musical band around 8:50am.

They lamented that hunger, insecurity, and unemployment, among others, had become the order of the day since he left office.

The supporters said that both men and women had turned to beggars because of the unfavourable policies of the present administration.

I Look Forward To Being Ex-President Of Nigeria – Buhari Lament

President Muhammadu Buhari said he was looking forward to when he will be referred to as Ex-President of Nigeria.

The President who is on the last lap of his administration also tasked leaders who take the oath of office, saying after swearing with the Holy Book, they must be careful not to abuse the trust of leadership placed on them by the people and God.

He spoke at a courtesy visit to the palace of Emir of Lafia, retired Justice Sidi Bage Muhammad 1 , the President reaffirmed that he has no intention whatsoever to stay beyond the constitutionally recognised two terms of office as leader of Nigeria.

”The traditional ruler is on a terminal appointment. Constitutionally, we (elected public office holders) are not. I cannot go beyond two terms and I have sworn by the Holy Quran that I will uphold the Constitution of the Federal Republic of Nigeria.

”Politics apart, whenever we are made to swear by the Holy Quran, we have to be very careful. We must make sure that we do not abuse the trust God has given us as leaders.

”I have seen former Governors here and I am looking forward to also becoming a former President,” he said.

President Buhari thanked the people of Nasarawa State for a rousing welcome, expressing delight that the North-Central State was wearing a new look since his last visit in 2019.

Ex-President Olusegun Obasanjo Express His Wish To Live Beyond 100

Former President Olusegun Obasanjo has expressed his wish of living above 100 years.