Tag Archives: NNPC

Storyline: Court disagrees with EFCC’s exhibit against FMR NNPC GMD, Yakubu


Mohammed held that the primary evidence of the motion to be tendered was the original copy which is at the custody of the Supreme Court.

The Federal High Court, Abuja, on Monday, refused to admit a document sought to be tendered in evidence by Economic and Financial Crimes Commission (EFCC) against former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.

Justice Ahmed Mohammed, in a ruling, held that the motion was inadmissible because the Economics and Financial Crimes Commission (EFCC) was unable to bring to the court its certified true copy.

Former Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu arraigned before a Federal High Court for money laundering and financial fraud in Abuja…yesterday. (Noble Reporters Media / NoRM)

NoRM reports that Counsel to EFCC, Mohammed Abubakar, had, on Nov. 5, tendered a document in which Yakubu, who is the 1st defendant witness (DW1), tendered at the Supreme Court, seeking for an order of stay of execution restraining the Federal Government from taking over the money which the anti-corruption agency took away when its operatives raided his residence.


Abubakar said that Yakubu had deposed to an affidavit at the apex court that the money was kept at the Central Bank of Nigeria (CBN), Kano by the EFCC.

But while being cross examined before Justice Mohammed by the anti-graft lawyer in the last adjourned date and question about the whereabouts of the money was put to the former GMD, said it was from the EFCC he got to know that the confiscated money was in CBN branch in Kano State.


However, Yakubu’s Lawyer, Ahmed Raji, SAN, urged the court not to admit the document on the premised that Abubakar ought to have come with its certified true copy being a public document.

In his ruling on Monday, Justice Mohammed said though it was not in doubt that the document emanated from the Supreme Court, “subsequently, to tender the document, it ought to have been certified.”

Quoting Section 35 of the Evidence Act 2011, he said “the content of a document may be proved either by primary or secondary evidence.”


He said for a motion to be tendered as a secondary evidence, it must have been certified, citing previous cases to back the ruling.

The judge, therefore, held that the document sought to be tendered by the EFCC was inadmissible in the law.

“It is hereby rejected and shall be marked: tendered and rejected accordingly,” he ruled.

Justice Mohammed, who also refused to hear the EFCC’s motion, seeking an order to visit the locus in quo (i.e the CBN in Kano) because it was not fixed for the day’s proceeding, adjourned the matter until Jan. 14, 2021, to hear the anti-graft agency’s motion.


Recall with NoRM that the EFCC, in 2017, raided the house of the former NNPC GMD in Kaduna State and found 9, 772, 800 dollars (9.7 million dollars) and 74, 000 pounds in a safe.

Yakubu was, however, arraigned on March 16, 2017, on six counts but was ordered by the Court of Appeal to defend counts three and four which bordered on failure to make full disclosure of assets, receiving cash without going through a financial institution and intent to avoid a lawful transaction in alleged violation of Section 1(1) of the Money Laundering Act, 2011 and punishable under Section 16(2)(b) of the Act.



Oil Price: Accelerated refinery set to end ‘fluctuation’ – LCCI


The LCCI DG said that to cushion the effects of petrol price increases on domestic prices, there was also an urgent need to scale up investment in mass transit transportation systems.

The Lagos Chamber of Commerce and Industry (LCCI) says accelerated domestic refining and processing of petroleum products would end the unstable petroleum pricing in the country, Dr Muda Yusuf, Director-Genera of the Chamber, said in an interview with NoRM‘s known Media on Saturday in Lagos.

He explained that this action was necessary to prevent both the deregulation policy from being derailed and a return to a subsidy regime fraught with corrupt practices.


Yusuf also called for a competitive market framework to enable the deregulation achieve positive impact, saying that quick approval of domestic refinery operations would boost access to petroleum products for economic development

The LCCI DG blamed NNPC’s monopolistic supply structure for the inability of Nigerians and the economy to benefit from the positives of deregulation.

Yusuf stressed that government needs to urgently put appropriate structures in place to ensure a level playing field and for the deregulation regime to achieve its objectives, because private sector players were strapped for foreign exchange to import petroleum products, while the refineries remained comatoe.


“A deregulated pricing regime is typically volatile, oscillating with global oil price. However, deregulation without competition would not give desired outcomes”, Yusuf said, adding, “We are still immersed in a monopolistic structure even as we claim to have deregulated the petroleum downstream sector”.

Similarly, Yusuf added: “The power sector recovery programme should also be accelerated to reduce the dependence of Micro, Small and Medium Enterprises (MSME) on petrol powered electricity generators.

“These two areas of intervention would reduce the adverse impact of petrol price volatility on small businesses and impact on the welfare of the citizens.


[Nigeria] Outrage over increased fuel price reasonable but not well placed – NNPC.


The Group Marketing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has reacted to the outburst over the recent increase in fuel price.

During an interview on Wednesday, he said: “the outburst is very understandable but I also believe very strongly that it is misplaced because Nigerians are not aware of the opportunities lost”.

He further explained that the issue of subsidy has been a big issue in the country for many years but the government can no longer afford it because of the economic problems facing the country.

“And not only that, every corruption that you are aware of in the downstream industry is one way or the other connected to fuel subsidy,” the NNPC boss added.

“It is very understandable for people to get angry that prices have gone up. Just like the prices of every commodity, when it goes up, there can be difficulties and challenges that people will naturally face but once prices go up, the other natural thing that must happen is that your income needs to increase so that you are able to procure the things that are now delivered at higher prices.


“You can’t do this anywhere in the world if there is no productivity.

“And there will be no productivity except there is growth in infrastructural development, industries are able to work, therefore, and there is a connection between production and consumption.

“When people get angry, this is coming from people who practically are not aware of this situation and they are not aware of the loss that they have and most importantly they are being engineered into making those statements, and we understand this perfectly.

“We are the national oil company, it’s our role to ensure energy security. But you can’t do this until you are able to deliver cost. And that cost is lost daily as prices of crude oil goes up and you are unable to do many things.


On the state of the nation’s refinery, Mr Kyari explained that plans are on the way to rehabilitate the four major refineries to maximum capacity.

According to him, this plan is expected to place Nigeria as the world’s biggest exporter of oil in the next three years.

The increase of fuel price and electricity tariff has sparked outrage with various groups holding nationwide protests across the country.

On Tuesday, the Petroleum Products Pricing Regulatory Agency (PPPRA) said it was no longer going to be releasing price bands for the sale of Premium Motor Spirit (PMS/petrol) at filling stations.


The agency reiterated that the price will now be fully based on the forces of demand and supply.

“It is based on bargain power,” the General Manager (Admin and Human Resources) of the PPPRA, Victor Shidok, said. “It is based on where you source your products.”

However, he noted that the government will ensure customers are protected from price-gouging and other ills associated with free markets.

“You could have a regulator that always stand and remain a watchdog to see how these forces are being played out, how the interest if both operators and consumers are being taken care of,” he said


News+: Lagos fire service raise alarm over petrol leakage. [Photos]


The Lagos State Fire and Rescue Service has announced the leakage of a Petroleum Motor Spirit (PMS) at Iyana- Odo on Atlas Cove-Mosimi System 2B Pipeline segment.

This was revealed on Sunday by the Acting Head of the Lagos State Fire and Rescue Service, Mrs. Margret Adeseye.

Mrs. Adeseye said that firefighters have been mobilised to the scene after a distress call was received in the early hours of today from Peace Estate, Isheri.

The Acting Head noted that PMS was gushing out from the pipeline linking Isheri to Igando and environs of Alimosho.

“On getting there, it was discovered that PMS was gushing out from the pipeline linking Isheri to Igando and environs of Alimosho, Lagos”, she stated.

According to her, the Nigerian National Petroleum Corporation (NNPC) pumping operations have been suspended as a result of that, while men of the Lagos State Fire and Rescue Service are putting the situation under control and officials of the Nigeria Security and Civil Defence Corps (NSCDC) are also on ground to forestall any imminent danger.


She called on the residence of the area not to open fire along this axis in order to avert danger pending the conclusion of the repair works by the NNPC.

Read Full Statement Below:

There is a Petroleum Motor Spirit (PMS) leaking at Iyana Odo on Atlas Cove-Mosimi System 2B Pipeline segment.

This hint was dropped this morning by Mrs. Margret Adeseye, Ag. Head, Lagos State Fire and Rescue Service while addressing pressmen at the scene of the incident.

According to her, a distress call was received at about 0541hrs to Peace Estate, after Petrocam Bus Stop, Isheri, and Firemen from Ikotun Fire Station were swiftly mobilized to the scene.


“On getting there, it was discovered that PMS was gushing out from the pipeline linking Isheri to Igando and environs of Alimosho, Lagos”, she stated.

Mrs. Margaret further explained that the NNPC pumping operations have been suspended while men of the Lagos State Fire and Rescue Service are putting the situation under control and NSCDC is providing security to forestall any imminent danger.

However, she warned members of the public, particularly, residence within these corridors not to make open fire along these areas in order to avert danger pending the conclusion of the repair works by the NNPC.

Jamiu Dosunmu,


News+: Price of petrol in Nigeria fixed at N138.62K / Litre


The Petroleum Products Marketing Company (PPMC) has fixed the ex-depot price for Premium Motor Spirit also known as petrol at 138 naira 62 kobo per litre.

According to a memo issued by the PPMC, a downstream subsidiary of the Nigerian National Petroleum Corporation, the new price will take effect from today August 5, 2020.

The memo states that the latest price which is what depot owners sell to retail outlets will reflect in the monthly pump pricing modulation for petroleum products this month.

The PPMC also put the ex-coastal price for the commodity at 113 naira 70 kobo, while the ex-depot price for diesel and kerosene stands at 160 naira per litre.


[Nigeria] 7 dead as explosion hit NNPC


Seven persons have died after an explosion at the ‘Oil Mining Lease 40’ operated by the Nigerian Petroleum Development Company (NPDC).

The Group General Manager, Group Public Affairs Division (NNPC), Kennie Obateru confirmed this in a statement on Wednesday.

According to him, the incident happened on Tuesday evening at Gbetiokun in Delta State where the facility belonging to its subsidiary is located.

“The incident, which occurred on Tuesday during the installation of a ladder on a platform (Benin River Valve Station) for access during discharging of Gbetiokun production, unfortunately caused 7 fatalities,” the statement explained.


Obateru said the NNPC has started an investigation into the cause of the incident and the Department of Petroleum Resources (DPR) has been informed about it.

“The bodies of casualties have been deposited in a morgue in Sapele, while families of the personnel involved are being contacted by their employers: Weld Affairs and Flow Impact, which are consultants to NPDC,” he added.

He said all personnel on board the platform have been fully accounted.

According to him, the NNPC Group Managing Director, Mele Kyari, also commiserated with the families of the bereaved and prayed that God grants them the fortitude to bear the irreparable loss of their loved ones.



Police uncover 2 wells where residents siphon petrol in Ejigbo | Details.


Two wells have been discovered in Ejigbo by operatives of the Inspector General of Police Special Intelligence Response Team, IRT.

Pipelines belonging to the Nigerian National Petroleum Corporation, NNPC, have been getting siphoned by locals through the wells.

The wells which belong to Victoria Ogunsomi and Shafe Abayomi is located in No. 4 and 2, Surprise Avenue Ejibgo, Lagos.

The suspects dug a well inside their compound which is close to the NNPC pipelines and connected pipes and a pumping machine with which they pump the petrol whenever the NNPC is transporting its product.

The due usually siphon the product into Jerry cans and tankers and are said to have made millions from it.

However, locals who were scared that their activities might lead to a fire outbreak informed authorities.


The source said; “we got calls from a concerned resident in the area who alerted us about the activities of Mrs Victoria and Mr Abayomi who are residents of Surprise Avenue, and alleged that residents have been siphoning petroleum products from NNPC pipeline located close to their area.

“The source told us that these people have wells which have underground pipes connected to the NNPC pipeline within area.

“The source told us that whenever the NNPC is transporting its products along that pipeline, their products usually surge into those wells and they are swiftly pumped into tanker trucks by owners of the wells.

“The source told us that the big trucks normally come by night to carry the products. When we acted on the information, we stormed the buildings and found the wells with pipes and pumps in it and the stench of fuel was every.


“At Mrs Victoria’s apartment we found jerry cans filled with petroleum products, but Mr. Abayomi smartly dismantled the pipes and pumping machine in his own well before we arrived in his own compound.

“But we are currently working on tracing and apprehending people who have been buying these stolen products from them .” He stated.

The suspects who spoke to Vanguard denied being pipeline vandals. They said they only took advantage of a ruptured pipeline.

“They added that the petroleum products flows into their wells and they sell them to people in their neighborhood.


In their interview, Ogunsomy said; “I am from Okitupupa area of Ondo State. I have three children but I am a widow. My late husband bought the land where we built our house in 1984 and we dug that well in the year 1999.

“We were using to water, but we later discovered that there was petrol in it. We contacted and alerted our landlord association about it and we all agreed that we will go to the police station and the Local Government but they advised us to go to NNPC and the NNPC sent two delegates to check the situation.

“The delegates came and they took sample of the water. After that, they didn’t come again.

“I have been arrested before because I sold just three jerry can of this petrol to someone by SARS operatives in 2016, the police released me and warned me never to go close to the well again. I am sorry that I went to it again and I was arrested.” She lamented.



NNPC want partners to drop oil cost to 40%


The Nigerian National Petroleum Corporation (NNPC) said it has directed all its partners and suppliers to bring down their cost to between 30 and 40 per cent to ensure production efficiency.

NNPC’s Group Managing Director, Malam Melem Kyari, made the disclosure when he featured as a guest on a live Television programme on Thursday.

He said the corporation had resolved to cut down its capital expenditure and to ensure it achieved the crude oil production cost reduction of 10 dollars per barrel.

“Our target is to bring down the cost to $10 by the end of 2021. We have insisted on making sure that our partners and all our suppliers cut their costs to at least 30 to 40 percent and that will significantly bring down our costs. It’s very realistic and we are realising that,” he said.


He noted that the target of $10 per barrel by 2021 will help the country to remain competitive in the global market.

“If you can’t do this, you walk away, this is not a business of subsidies,” he noted.


Kyari assured the public that the corporation would not witness any job loss to the target, saying, “we will escape this year without job cuts in NNPC”.

“We are reviewing other heavy cost areas that can bring our cost to normality. But I know also that in terms of our partners, many of them are looking at a situation whereby job cuts will be unavoidable.


“But what is informing that much more than the cost, is actually the issue of efficiency that we have seen in the last couple of years,” he said.

On Crude oil sales discount, he said the NNPC had set July as the deadline to end the regime, adding that the corporation was looking at achieving the target either by June 30, or latest by July.


Kyari noted that if oil price settled at the current 42 dollars, it was still till a good business for NNPC and the country.

The NNPC boss said though Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets, it would make additional cuts to make up for the lapses by mid-July.


On whether the NNPC would continue offering discounts on crude oil as the price recovers, Kyari said, “Absolutely not, discount will go away, definitely within the shortest period of time.

“As you know, what we did in the last two months was to close that gap much shorter than what it was, and by the end of either June or July we will see a situation where we can take out that discount because it’s no longer necessary.”



NNPC clash with Senate over oil price.

The Senate Committee on Finance on Monday rejected the revenue targets projected for the various revenue-generating agencies in the country to fund the Revised 2020 Budget, describing their proposed sums as grossly inadequate.

Members of the Senate panel also condemned in strong terms the explanation by the Nigerian National Petroleum Corporation that it spent $21 to produce a barrel of oil.

They spoke when the heads of the various revenue-generating agencies including the Federal Inland Revenue Service, the NNPC, and the Nigeria Customs Service, led by the Finance Minister, Zainab Ahmed, appeared before the Senate panel to defend their proposals in the revised budget.


Trouble started when the Chief Operating Officer of the NNPC (Upstream), Mr Yemi Adetunji, told the panel that the agency reduced the production cost per barrel of crude oil from $25 proposed in the approved 2020 budget to $21 in the revised budget in line with the current realities.

The Chairman of the Senate panel, Senator Solomon Adeola, had asked the NNPC to explain why it was proposing $21 as production cost per barrel of crude when the new oil benchmark proposed in the revised budget was $25 per barrel.


Adeola said, “We want you (NNPC) to take us through why Nigeria’s cost of production per barrel of crude oil is the most expensive in the world by giving us the breakdown of what constitute those costs in to the variables and the technical cost and we want to know what you are doing as an agency of government to bring down this cost.”

In his response, Adetunji told the panel that security challenges in the Niger Delta region, oil theft, vandalism and the huge administrative costs were responsible for the high cost of oil production in the country.


He, however, said the NNPC was working with relevant stakeholders to reduce the administrative cost through a multi-disciplinary approach in terms of planning and engagement of various partners.

Obviously dissatisfied with Adetunji’s submission, the panel chairman asked him who determined the production cost, especially when the benchmark of $25 as proposed in the revised budget would mean that Nigeria would earn just $4 as its own return on investment.


He said, “I begin to look at the oil revenue and the mineral revenue as proposed in the MTEF/FSP that has dropped from almost N8.86tn to N3.33tn. Are you saying that it is worthwhile investment for us as a nation?

“Going by the fact that the cost of producing one barrel is $21 and the benchmark is $25 for over 180 million Nigerians and all these cost you have listed, who determines them? How do you ensure that Nigeria is being charged the right cost on each barrel of oil?


“In Saudi Arabia, it is $4 per barrel cost of production. In Russia, it is about $3 per barrel. Nigeria is $21. We are beginning to be afraid as to why we are channeling all our efforts to this oil and gas if the return on investment is nothing to write home about.”

The chairman’s position was re-echoed by Senators James Manager, Shaibu Gumau and Jibrin Issa, who rejected Adetunji’s explanation on the grounds that he dwelt more on fixed costs while still talking about administrative cost, and security challenges as variables for the high cost of production.


When given the opportunity to react again, Adetunji said, “We are working hard to bring down this fixed cost. Historically, our total cost has been $30 per barrel. So the objective of the new GMD, Mr Mele Kyari, is that we have to reduce the cost to $21 this year.

“We know that these costs are high that is why we have decided to go from even the initial approved $25 per barrel in the earlier approved budget to $21 per barrel.


“We believe that once we have the new framework in place going forward, we should even see lower cost of production.”

He added that security challenges were peculiar to Nigeria.


The panel also hit hard at the FIRS and the NCS, saying that their various revenue projections were unacceptable because they were too low.

The panel said it would not support the proposal of FIRS to reduce revenue from stamp duty from N463bn to N200bn judging from the fact that the number of transactions from the day-to-day basis ran into several billions.


The Executive Chairman of the agency, Muhammad Nami, pledged to work with his team to shore up its target by deploying technology for the purpose of increasing the tax base, having a seamless process of accessing, collecting and accounting for the taxes collectable by FIRS.

He, however, said accessing, collecting and accounting would depend largely on the performance of the economy of the country.



[Nigeria] NNPC reduces depot price of fuel.


The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS) from N113.28k per litre to N108.00K per litre across all its products loading facilities.

This was contained in a statement issued by the corporation’s spokesman, Dr Kenny Obateru in Abuja on Wednesday.

He said the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan, disclosed that the new ex-depot price of PMS reflects the company’s market strategy.

According to him, the strategy will help to make more sales while complying with the Petroleum Products Pricing Regulatory Agency’s (PPPRA) price template.


Lawan explained that the new price regime would enable PPMC to boost its sales volumes from the billions of litres of Petrol it had in storage while providing affordable price to millions of customers.

He said the new price was arrived at after extensive review of market realities by the PPMC internal price review unit.

The PPMC boss however pointed out that the price of Automotive Gas Oil (AGO), otherwise called diesel, which had already been deregulated was determined by market forces.


On March 18, 2020, the NNPC reviewed its PMS ex-coastal, ex-depot and NNPC Retail pump prices.

Thus, effective March 19 NNPC ex-coastal price for PMS was reviewed downwards from N117.6/litre to N99.44/litre while ex-depot price was reduced from N133.28/litre to N113.28/litre.



[Nigeria] Ogba NNPC Fuel Station on Fire.


A fire outbreak has reportedly occurred at a petrol station owned by the NNPC in Ogba area of Lagos state.

According to social media reports, 6 buildings have been affected by the fire outbreak.


The cause of the fire is yet to be ascertained.

However, firefighters are said to be having difficulties in putting out the inferno.




NNPC: We have 60-days fuel sufficiency in Nigeria.

Nigerian National petroleum Corporation (NNPC) has urged Nigerians not to engage in panic buying of Premium Motor Spirit (PMS), as the country has adequate stock of the products to last for over 60-days.

Mr Mele Kyari, Group Managing Director of the corporation, gave the assurance while briefing newsmen on Sunday in Abuja.

Kyari assured that the NNPC had the support of all stakeholders to ensure adequate supply of petroleum products in the country.

He said: “There is absolutely no scarcity anywhere; our supply is robust, we have fuel that will last this country even for 60-days if assuming we do not import any.

“Of course people because of the pandemic, stay at home, may try to conserve fuel, there is no need to do this.

“Maintain your normal life, we have secured all assurances that trucks will be moving freely across the country throughout this period of difficulty and supply will be sustained’’.

He appealed to Nigerians no to flood fuel stations as there was no need for that.

Commenting on National Association of Road Transport Owners (NARTO) order to petrol tankers drivers to vacate the depots, Kyari said that the corporation would continue to engage them.

“No restrictions; as we speak now loading is going on, trucks are moving around, no action like that will come to fruition,’’ he added


Still This: Oil Pipeline around Abule Ado shut down after explosion.

The Nigerian National Petroleum Corporation has shut down oil pipelines around Abule Ado area of Lagos following multiple explosions that rocked the community on Sunday morning, leading to fire outbreak.

The incident also led to the destruction of several houses with residents seen hurriedly removing personal items from some of the affected buildings.

Findings by NobleReporters revealed that the explosion was caused by combustible items inside a factory within the vicinity.

Though officials of the Federal Fire Service and Lagos State Emergency Management Agency are at the site of the explosion trying to put out the fire that is fast spreading to buildings around the area, the situation remains critical.


Electricity cost a lot – Only Elites can afford – NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari shared his disappointment with the state of power generation in Nigeria, urging for an alternative.

Kyari attended the Nigeria International Petroleum Summit which provided an opportunity for the signing of a $1.1 million grant between Nigeria and the United States Trade and Development Agency (USTDA) as part-funding for the Abuja Independent Power Project (IPP) in Abuja.

The NNPC chief lamented that Nigerians are still struggling to afford a day’s meal and that electricity is now “a luxury” exclusive for the elite. He added that the challenges of the power supply must be addressed before Nigeria can go into renewable energy.

He said; “For this country and very many of us in sub-Saharan Africa, what we worry about today is actually the meals of today. There are many who can’t afford a meal a day. And of course, electricity is largely a luxury; it’s only for the elite, like all of us here.

“It is the dream of very many to have I-pass-my-neighbour in their homes. When you say, ‘do not use fossil fuel,’ but you have not provided alternatives. The world has not looked at their situation. The world has not recognised that there is abject poverty in the communities.

“We have to resolve the issue of electricity so that we can talk about renewable energy in the future and reduce the use of fossil fuel that has a high impact on the environment. We know that there is an energy transition in the world. With time, there will be less dependence on fossil fuel.

“We have gas in abundance, we must create an infrastructure that will help create gas for power generation.

“We need the power to create jobs and we must create prosperity so that we can have peace in our country. We are grateful for this grant.”


2013 – 2015: Senate probs NNPC ..

The Senate are investigating Nigerian National Petroleum Corporation over the $396m spent on Turn-Around Maintenance of refineries between 2013 and 2015.

This followed the adoption of a motion titled “The Moribund Refineries in the Country” by Senator Yusuf A. Yusuf (APC, Taraba Central).

The Senate mandated its Committees on Petroleum Downstream, Upstream and Gas to investigate the expenditures. It also asked the committees to probe the current state of the refineries as well as convoke a stakeholders’ conference with the aim of finding ways to revamp them.

Senator Yusuf recalled that Nigeria, through NNPC, had in the past 25 years spent billions of dollars in Turn-Around Maintenance of the refineries, the latest being over $396m spent between 2013 and 2015 without meaningful result. Senate President Ahmad Lawan said the Petroleum Industry Bill would be worked upon in February.


₦13.23bn: NNPC gives update on trade surplus.

The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a trading surplus of ₦13.23 billion in October 2019, representing an increase of 54 percent vis-à-vis the ₦8.59billion surplus posted in September last year.

The NNPC, in a release signed by its Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, explained that the figures contained in the recently released October 2019 edition of the NNPC Monthly Financial and Operations Report (MFOR), reflect the sustained streak of positive results in the operations of the National Oil Company.

To underline the increasing fortunes of the corporation in recent times, the September, 2019 trading surplus of ₦8.59billion in turn indicated a significant increase of 65 per cent compared to the ₦5.20billion surplus posted in August 2019, even as that beat the ₦4.26billion surplus posted in July 2019, reflecting an increase of 22 per cent.

The NNPC said the increase of 54 per cent trading surplus in October 2019 accounts of the corporation was majorly attributable to improved trading surplus posted by its flagship Upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

The 51st edition of the MFOR stated a total Crude Oil and Gas export sales of $483.25 million in October 2019; which is an increase of 35.77 percentage point, compared to the previous month, implying that in the month under review, Crude oil export sales contributed $396.94million (82.14 per cent) of the dollar transactions, compared with $267.97million contribution in the September, 2019, even as the export Gas sales for the month amounted to $86.32 million.

Overall, the October 2018 to October 2019 Crude Oil and Gas transactions indicated that Crude Oil & Gas worth $5.49 Billion was exported.

In the Downstream Sector, to ensure sustained PMS supply and effective distribution across the country, 1.16billion litres of PMS, translating to 37.30mn liters/day, were supplied for the month.

NNPC stated in the monthly report that it had continued to diligently monitor the daily stock of Premium Motor Spirit (PMS), otherwise called petrol, in order to achieve smooth distribution of petroleum products and zero fuel queue nationwide.

The report said that in October 2019, 35 vandalized-pipeline points, representing a decrease of 81 per cent from the 186 vandalized-points in September 2019, were recorded.

Out of the vandalized points, eight failed to be welded, while only one pipeline was ruptured, with Ibadan-Ilorin axis accounting for 34 per cent of the breaks, while ATC-Mosimi and other routes accounted for 23 per cent and 43 per cent, respectively.

In the Gas Sector, out of the 235.82billion Cubic Feet (BCF) of gas supplied in October 2019, a total of 134.97 BCF of gas was commercialized, consisting of 31.37 BCF and 103.60 BCF for the domestic and export market, respectively.

This translates to a total supply of 1,011.85Million Standard Cubic Feet (mmscfd) of gas to the domestic market and 3,341.84mmscfd of gas supplied to the export market for the month, implying that during the month, 57.23 per cent of the average daily gas produced was commercialized, while the balance of 42.77 per cent was re-injected, used as upstream fuel gas or flared.


65 years Former NNPC staff killed by farm workers in his farm.

Ibrahim Ajayi Allah, a 65-year-old ex-staff of the Nigerian National Petroleum Corporation (NNPC) was reportedly killed in his farm by his worker.

The deceased who was killed on December 13 by one of the workers at his farm in Oke-Oyi, outskirts of Ilorin, retired from the finance department of the NNPC.

The deceased’s younger brother Yakub Abejide Allah who confirmed his death, said;

“My elder brother was murdered on December 13th on his farm site in Oke-Oyi area of Ilorin East local government area of the state.

“Three years ago, he retired and chose to pursue agriculture which has always been his passion. He bought hectares of land in Ogidi, Kabba/Bunu local government area of Kogi State and poured all his passion into it. However, because of so many unanticipated factors, the returns were not as expected.

“About six months ago, he decided to gradually move out of Ogidi. So he bought about eight hectares of land at Oke-Oyi near Ilorin and restarted his farming there.

“The suspect picked up by the police is a man from that community with whom he had developed a close relationship. He was always going in and out with the man. In fact, on the day of the murder, they were said to be together and had lunch together before he was savagely axed to death at about 5pm.

“When the police searched the suspect’s house, they found my brother’s phone and other personal effects. He is said to have confessed to having killed my brother.

“I felt so bad when I heard the news of my brother’s gruesome killing. It was the Divisional Police Officer (DPO) in charge of Oke-Oyi Police Station that narrated how my brother was hacked to death.

“Subsequently, I called his wife and our other family members and broke the sad news to them. The police said they have arrested the alleged perpetrator of the heinous crime. According to them, he was initially detained at the Oke-Oyi police station before being transferred to the state Criminal Investigations Department (CID) in Ilorin.

“We learnt that during a search in his house the late Ibrahim’s phones, personal effects as well as other dangerous items the perpetrator used to kill my brother were found there.”

Ex-NNPC staff hacked to death by worker in his farm in Ilorin

Wife of the deceased said she became worried when she did not get the usual morning call from her husband.

“He usually calls me in the morning. He called me on Friday morning. When I didn’t get his call on Saturday morning, I called his lines and none were reachable. Later, one rang and someone picked it and said my husband had an accident and that his phone was with the police and they asked me to come there. I linked them to my husband’s brother in Ilorin before I arrived there.

“By the time I got there, it was already 8pm and I was told he was in the hospital. When I asked to see him, that was when my husband’s brother told me that he was dead.

“A farmer suspected something and called the local vigilante group who reported to the police. When the police came, they saw his car and his phone. That was how I was able to call his number.

“I saw the suspect, his name is Waheed. He actually confessed to committing the crime. I asked him what my husband did to him and he said nothing, that he did not know what came over him. He said my husband used to help him and even promised to buy him a car,” she said.

“He (the deceased) used to squat with the suspect because he is new there. He just arrived six months ago. They used to stay together and go to the farm together until he got his own apartment two months ago. A machete stained with my husband’s blood and his phone were found in his house. He also had wounds on his body and that was how they knew that he was the one who killed him.

“The Oke-Oyi police said they were going to transfer the case to a bigger police station. They had already brought the documents when I was there but since then, I have not heard anything. He has already confessed that he killed my husband and I just want justice. It may be that there are other people involved in the killing.

“I asked for my husband’s body because it was already decomposing and we buried him on Monday.”

Ex-NNPC staff hacked to death by worker in his farm in Ilorin

Also confirming the death of the deceased, spokesman of the Kwara police command said the suspect has been arrested and investigation is still ongoing.

He said;

Yes, I am aware of that incident. We have a suspect arrested already and intensive investigation is going on. At the appropriate time, people will be informed of the outcome of our investigation”


Hydrocarbon found in venue state. – NNPC.

It would be recalled that drilling of the Kolmani River II Well was flagged-off in a colourful ceremony by President Muhammadu Buhari on the 2nd of February, 2019.A press release by the Corporation’s Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, stated that NNPC acquired 435.54km2 of 3D Seismic Data over Kolmani Prospect in the Upper Benue Trough, Gongola Basin.This was to evaluate Shell Nigeria Exploration and Production Company (SNEPCo) Kolmani River 1 Well Discovery of 33 BCF and explore deeper levels.The well was drilled with “IKENGA RIG 101” to a total depth of 13,701feet encountering oil and gas in several levels. A Drill Stem Test (DST) is currently on-going to confirm the commercial viability and flow of the Kolmani River reservoirs.The Corporation explained that on Thursday 10th October, 2019, at 18:02hours, one of the reservoirs was perforated and hydrocarbon started flowing to the well head at 21:20hours in which the gas component was flared to prevent air charge around the Rig.Preliminary reports indicate that the discovery consists of gas, condensate and light sweet oil of API gravity ranging from 38 to 41 found in stacked siliciclastic cretaceous reservoirs of Yolde, Bima Sandstone and Pre-Bima formations.
Computation of hydrocarbon volume is on-going and will be announced in due course.The Corporation has also acquired additional 1183km2 of 3D seismic data over highly prospective areas of Gongola Basin with a view to evaluating the full hydrocarbon potential of the Basin.NNPC has deployed world class cutting-edge technologies including Surface Geochemistry, Ground Gravity/Magnetic, Stress Field Detection, Full Tensor Gradiometry aerial surveys to de-risk exploration in the frontier basins.The NNPC plans to drill additional wells for full evaluation of the hydrocarbon volume in the Gongola Basin.It would be recalled that during the spud-in ceremony of Kolmani River II, President Muhammadu stated the commitment of his administration to the exploration for Oil and Gas in the frontier basins in the entire length and breadth of the country. The basins include: the Benue Trough, Chad Basin, Sokoto and Bida Basins.He also stated that attention would be given to the Dahomey and Anambra Basins which have already witnessed oil and gas discoveries.The discovery of oil and gas in commercial quantity in the Gongola Basin will attract foreign investment, generate employment for people to earn income and increase government revenues.Newsworthy3.news.blog