Nigerian Petroleum Company, NNPCL, says Nigeria would be a net exporter of fuel by December
Mele Kyari, the Group Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), has stated that the country will become a net exporter of refined oil by the end of 2024. Kyari stated that his promise was based on emerging indicators from the country’s energy and gas sectors.
He stated this on Monday at the National Assembly, where stakeholders in the country’s economy, including Ministers of Finance, Wale Edun; Budget and National Planning, Senator Atiku Bagudu; Minister of State Petroleum, Senator Heineken Lokpobiri; and Central Bank Governor, Olayemi Cardoso, met with the Senate Committee on Finance, chaired by Senator Sani Musa.
According to Kyari, the Port Harcourt Refinery would start production early next month, followed by the Warri refinery a few months later and the Kaduna refinery in December of this year.
He predicted that the country’s oil production would exceed 2 million barrels per day within a few months once the requisite infrastructure was in place. He stated, “Mr. Chairman, and members of the Joint Committee. Let me confirm that NNPCL and the oil and gas industry are vital to turning around our current economic crisis, and we understand how important this is. We are taking actual steps to achieve this goal. We have already observed an increase in our oil and gas output as a result of Mr. President’s actions, as well as the fact that we have declared war on production operations, which is producing the desired effects.
๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ฌ ๐ฌ๐๐ข๐ณ๐ ๐ฌ๐ฆ๐ฎ๐ ๐ ๐ฅ๐๐ ๐ฉ๐๐ญ๐ซ๐จ๐ฅ ๐๐ญ ๐๐ข๐ ๐๐ซ๐ข๐-๐๐๐ฆ๐๐ซ๐จ๐จ๐ง ๐๐จ๐ซ๐๐๐ซ
The Adamawa and Taraba states Area Command of the Nigeria Customs Service achieved a significant breakthrough when it discovered and seized 85 barrels of 200 litres and 795 jerry cans of 25 litres of premium motor spirit at Sahuda village on the Nigeria-Cameroon border. While briefing journalists on Friday, Customs Area Controller Garba Bashir revealed that the smugglers had made plans to transport the merchandise to the Republic of Cameroon when his soldiers, based on intelligence information, raided the region.
Bashir elaborated: “With the swift intervention of the officers, the illicit trade arrangements of these economic saboteurs were averted while the smugglers on sighting the officers took to their heels and abandoned the PMS,”. The Customs Controller also stated that the Command has repositioned all machinery throughout its areas of operation in coordination with other sister security agencies to ensure effective border control. He emphasised that the NCS is committed to growing the country’s economy by enhancing trade facilitation in Nigeria following global best practices.
UNICEF gives 125 Adamawa schools teaching tools and supports girl child education
The United Nations Children’s Education Fund has revealed that it erected and restored classrooms, provided teaching materials, and installed other educational materials at over 125 schools in Adamawa State over three years.
Mr Joel Jutum, UNICEF Education Consultant Bauchi field office, stated in Yola on Friday during the launch of the distribution of instructional materials and school games facilities that his organization’s investment in education, particularly in the North-east, is to ensure that all children return to school following the insurgency experience in the area. Jutum continued, “UNICEF, in collaboration with our wonderful supporters, including the Kreditanstalt fรผr Wiederaufbau, Global Partnership for Education, Education Cannot Wait,
From 2021 to the present, the Norwegian Embassy Towards Safe School Initiative Programme and the Adamawa State Government have erected and restored classrooms, as well as installed perimeter fences, bathrooms, and instructional facilities in 125 schools across the state.
๐ ๐จ๐จ๐ ๐๐ฎ๐ญ๐ฒ ๐ฌ๐ฎ๐ฌ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐ญ๐ก๐ซ๐๐๐ญ๐๐ง๐ฌ ๐ฉ๐ซ๐ข๐ฏ๐๐ญ๐ ๐ข๐ง๐ฏ๐๐ฌ๐ญ๐ฆ๐๐ง๐ญ๐ฌ – ๐๐ญ๐๐ค๐๐ก๐จ๐ฅ๐๐๐ซ๐ฌ
Experts have voiced worry that the Federal Government’s plan to open the country’s borders to allow food importation will have an impact on private investments in agriculture. Abubakar Kyari, Minister of Agriculture and Food Security, announced at a press conference in Abuja last Monday a 150-day duty-free import window for commodities such as maize, husked brown rice, wheat, and cowpeas as part of the newly launched Presidential Accelerated Stabilisation and Advancement Plan.
The minister stated that commodities imported within the 150-day duty-free import window would be subject to price controls.
Kyari recognised that Nigeria was experiencing “a critical food security challenge,” but added that President Bola Tinubu was dedicated to achieving food security and ensuring that no Nigerian goes to bed hungry.
To that end, I can assure all Nigerians that my team and I will quickly and diligently implement these critical policies to ensure food security for everyone in the country in the short term, while also continuing our long-term interventions to address the underlying causes and ensure sustainable and resilient food systems in the country.” Akinwunmi Adesina, President of the African Development Bank Group, stated that, despite the policy’s noble intentions, the decision was “depressing”.
13 people were slain as bandits attacked Benue communities.
On Sunday, gunmen believed to be armed herders killed 13 people in separate attacks on Benue communities.
Locals allege that 12 persons were slain at Egwuma in the Agatu Local Government Area, while one displaced person coming from a farm was killed in the state’s Gwer West Local Government Area. On Monday, residents told journalists that one displaced person was harmed and five others were missing.
Godwin Edoh, a politician representing the Agatu state district in the House of Assembly, confirmed the incident, saying 12 persons were slain. He stated, “We are tired of the daily killings. Ogbumogbo, Ejima, and the surrounding areas down to Ikpele have been uninhabited for about a year. “So, those places are like the Fulani colonies.”This one occurred yesterday (Sunday), and 12 individuals were killed. He refuted the idea that Calm had returned to the area, saying, “Even the IDPs they claimed had returned home; if you go there, you will see them there. “I don’t understand why they use propaganda; it’s incorrect.”
Naira falls to N1,555/$ on parallel market
Yesterday, the Naira fell to N1,555 per dollar in the parallel market, down from N1,545 per dollar last Friday. Similarly, the Naira fell to N1,577.29 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). According to FMDQ data, the indicative exchange rate for NAFEM increased to N1,577.29 per dollar from N1,563.8 per dollar last week Friday, suggesting a naira devaluation of N13.49 per cent.
The dollar volume (turnover) traded on the window jumped by 21.3 per cent to $153.53 million, up from $126.5 million on Friday. As a result, the difference between the parallel market and NAFEM pricing has decreased to N18.8 per dollar, down from N18.8 per dollar last Friday.