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President Bola Tinubu who is observing his leave in the United Kingdom has reacted to the just concluded local government elections in Rivers State.
According to report the APP backed by Fubara cleared all 23 local council elections in the state, prompting the governor to inuagurate them on Sunday.
But reacting to unfolding tensions following last Saturday’s local government council election, the President expressed deep concern over reports of arson and explosions in the state.
According to Tinubu all political actors have to de-escalate the situation and discourage their supporters from engaging in violence or destructive actions.
Tinubu also instructed the police to move in and restore, maintain peace, law, and order immediately.
The President who spoke through his media aide, Bayo Onanuga on Monday, also instructed law enforcement agencies to bring the situation under control, he emphasised the need to ensure the security of public institutions.
He warned that government facilities built with public funds must be safeguarded from vandalism.
He stressed that self-help has no place in a democratic system, especially after 25 years of continuous democracy.
According to President Tinubu, the judiciary can settle all political disputes, and the outcome of this election should be no exception.
The Lagos State chapter of the Christian Association of Nigeria has instructed the leadership of the Lord’s Chosen Charismatic Revival Ministries to review the pattern with which its members present testimonies at gatherings.
Recall that the Christian body condemned one of the viral testimonies shared by a member of the church during the penultimate week.
In sharing the testimony, the unnamed member claimed that an old man appeared to her in the examination hall and gave her answers to some questions.
The member said she also shared the answers with a member of the Mountain of Fire and Miracles Ministries in the examination hall.
The Lagos CAN Chairman, Bishop Stephen Adegbite, condemned the testimony, describing it as an utter fabrication.
Adegbite said the Christian body would summon the leadership of the church to a crunch meeting to address the controversial testimonies.
Speaking with Saturday PUNCH on Thursday, the CAN chairman confirmed that the meeting had been held and that the church has been ordered to change its pattern of relaying testimonies henceforth.
“We had the meeting last Friday at the CAN secretariat in Alausa, Ikeja, Lagos. Representatives of the church were there, and we told them to be careful and review the pattern of their testimonies. It is only a madman who would think otherwise.”
Speaking further, he said all the five bloc leaders of CAN were at the meeting, including the coordinators from the 57 local government areas in the state.
“Over 100 people attended the meeting, and we discussed the testimony issue. Everybody was on the same page. We reject vehemently any testimony that is not reasonable and sensible, which can be misleading and bring disrepute to the name of Christ. We reject it in its entirety.
“We told the leaders to ensure that they ask their members what they want to say before giving them the microphone.
“If what they want to say is not good for public consumption, it should be disallowed. God still performs miracles. We must say the truth and nothing but the truth,” the CAN chairman stated.
President Bola Tinubu has directed security agents to intensify efforts to crack down on illegal miners across the country even as he said his administration will ensure that companies engaged in mineral exploration prioritise the health and safety of Nigerians and their host communities.
The President stated this while receiving a presentation titled, ‘Harnessing the Mining Industry for Enhanced National Security and Development: Strategic Options for Nigeria by 2035,’ by Course 32 participants of the National Defence College (NDC) on Thursday in Abuja.
The Course 32 Participants were tasked with researching topical national issues, and their findings during their 11-month study focused on the mining industry’s potential to contribute to national security and development.
Responding to the presentation delivered by Colonel Olajide Bello, on behalf of the delegation, President Tinubu, in a statement by Presidential spokesman, Ajuri Ngelale, on Thursday, commended their work and reiterated the importance of diversifying Nigeria’s economy.
‘‘I have listened carefully to your presentation on the theme. Aside from your knowledge of war and security, I could see the intellectual depth of the work done to help the nation, and I must say thank you to all of you.
‘‘I recognise the need for the diversification of the economy, and we have been pushing hard on this. Your involvement will equally promote a better understanding of the issues.
‘‘We have challenges of scavengers and exploiters around the country. We must nip that in the bud, and you military officers understand this better than the civil society.
‘‘We expect that through your command, we will have more resources that we need to make sure we have a stable economic environment,’’ the President said.
President Tinubu assured the delegation that his administration would ensure the completion of the NDC headquarters in Abuja.
Addressing the health implication of exploration activities during an interactive session, the President expressed concern over the well-being of those living near mining areas.
‘‘We must pay attention to that at the outset by providing medical centres and other facilities that will protect the lives, property and health of Nigerians,’’ President Tinubu said.
In his remarks, Commandant of NDC, Rear Admiral Olumuyiwa Olotu, said the institution, established in 1992, as the National War College, has graduated 2,871 participants since inception.
He disclosed that besides participants from 30 African countries, the college has had participants from Bangladesh, Brazil, France, Germany, India, Nepal, and Pakistan.
Rear Admiral Olotu said through the President’s magnanimity, the college has embarked on unprecedented infrastructural upgrades, making the institution compete favourably with any other defence college in the world.
However, he appealed to President Tinubu to assist in the completion of the college’s permanent site in Abuja, noting that the institution currently operates from its temporary facility in the Central Business District owing to the non-completion of its permanent site since 2010.
The 111 participants of NDC Course 32 were drawn from the Nigerian Army, Navy, Air Force, Police, Ministries, Departments and Agencies (MDAs), as well as 19 international participants from Africa, Asia, Europe, and South America.
The college undertakes in-depth studies on all factors that affect national security and development.
The research centre in the college known as the Centre for Strategic Research and Studies is also designated as the ECOWAS training Centre of Excellence for Peace Support Operations at the strategic level.
The House of Representatives Special Joint Committee investigating factors working against the petroleum sector has directed the Nigerian National Petroleum Company Limited to halt what it called the mortgage of Nigeria’s future crude oil until it concludes its assignment.
Recall that the committee chaired by the lawmaker representing Ideato South/Ideato North Federal Constituency, Imo State, Ikenga Ugochinyere, commenced its probe of shady deals in the sector last week.
The committee’s directive followed reports that NNPC is planning to borrow an additional $2bn in crude oil-backed loans from international creditors to boost its financial inflow.
The Group Chief Executive Officer of NNPC, Mele Kyar, according to the panel, reportedly stated that the national oil company was in discussions with international creditors to raise an oil-backed credit facility.
This was a sequel to recent findings that the national oil company was struggling to pay international oil traders a backlog of $6bn amid subsidy removal.
In a statement issued by Ugochinyere on Wednesday, the lawmaker urged NNPC not to undermine the forensic investigation by the House of Representatives with another fresh loan.
It warned that the move if allowed, would further worsen the situation of of things, starve the refineries of feed-stock, weaken revenue generation and create room for waste of future revenue.
The statement reads, “The citizens were excited on the recent news of President Bola Tinubu’s intervention for crude supply to local refineries in naira and the committee has received intel of plans to mortgage future crude revenue and oil for another loan at a time the nation is struggling.
“This is preemptive of the committee’s work and we want to announce the halt of this fresh move and for the state oil company to brief the parliament.
“The revenue being mortgaged is a sovereign wealth of the people and the parliament has a duty as the watchdog of the commonwealth to step in. The NNPC today is owned by the Federal Government and Nigerians, hence, its actions must not hurt their shareholders who we lawmakers represent.
“We gathered you here today on a shocking development and alleged move by the leadership of NNPC to mortgage once again our future crude oil assets and revenues for alleged mere administrative purposes.
“As the Chairmen of the Joint Investigative Committees on Petroleum Resources Midstream and Downstream, we have to act in the best interest of the citizens and ensure that the downstream and midstream sectors are protected.”
He noted that the committee in its ongoing investigation is probing allegations of non-remittance to the federation account and non-availability of crude to domestic refineries.
The panel warned the oil company not to work against the recent directive of the Federal Government on the need to protect local refineries.
The statement further read, “We are calling on NNPCL to halt further plans to borrow more loan with crude oil, as the move will sabotage the President’s deal for domestic crude supply.
“In August 2023, following the removal of fuel subsidy and the unification of the forex market which significantly weakened the naira, the Federal Government through the NNPC secured a $3.3bn loan from Afreximbank to shore up liquidity in the market.
“Mele Kyari had explained then that the loan would be used to shore up the foreign exchange reserve and provide a more urgent solution to the country’s forex challenges.
“The loan is said to be paid with crude oil set a $65 per barrel and had earmarked around 90,000 barrels of crude oil for the process. We are urging the NNPC not to undermine the forensic investigation by the House of Representatives into crude oil supply with another fresh loan, as the move is a threat to local refinery.”
The House of Representatives Special Joint Committee of the Downstream and Midstream Petroleum Resources investigating anomalies militating against the sector, has directed Nigerian National Petroleum Company Ltd (NNPCL) to halt further mortgage of Nigeria’s future crude oil until lawmakers conclude their forensic investigation.
The special joint committee is looking into challenges militating against the growth of the oil industry including the past forward sales of crude oil by NNPCL, petrol subsidy scam, PFI racketeering, alleged importation of adulterated products, mismanagement of the petroleum sector, among others.
The lawmakers’ call came on the heels of reports that the national oil company was planning to borrow an additional $2 billion in crude oil-backed loans from international creditors to boost its financial inflow.
The Group Chief Executive Officer (GCEO) of the NNPC, Mele Kyari, reportedly stated that the national oil company was in discussions with international creditors to raise an oil-backed credit facility. This follows the recent revelation that the national oil company was struggling to pay international oil traders a backlog of $6billion amid petrol subsidy removal.
The special joint committee, in a statement by its Chairman, Hon. Ikenga Imo Ugochinyere, who is the chairman, House Petroleum Resources Downstream, urged the NNPCL not to undermine the ongoing forensic investigation by the House of Representatives with another fresh loan, as the move was a threat to President Bola Tinubu’s efforts to ensure local refineries have Crude Oil for their refining processes.
He said that the committee was already looking into the impact of past forward sales of crude , allegations of non-remittance of any part of the revenue to the Federation Account, unhealthy terms in the agreement and the effects of the deals on availability of crude oil for local refineries.
The legislative panel warned that the move, if allowed, will further worsen the situation of things, starve the refineries of feedstock, weaken revenue generation and create room for waste of potential revenue.
The statement read, “We gathered you here today on a shocking development and alleged move by the leadership of the Nigerian National Petroleum Company Limited (NNPCL) to mortgage once again our future crude oil assets and revenues for alleged mere administrative purposes . As the Chairmen of the joint investigative Committees on Petroleum Resources Midstream and Downstream it’s our duty to act in the best interest of the citizens and ensure that the downstream and midstream sectors are protected from any decision that will further worsen the problems currently bedeviling the sectors.
“This move, if allowed, will destroy things, starve the refineries, waste future revenue. We have ongoing investigation into past forward sales and allegation of non remittance to Federation account and non availability of crude to domestic refinery and now the citizens were excited on the recent news of president Tinubu intervention for crude supply to local refinery in naira and the committee has received intel of plans to mortgage future crude revenue and oil for another loan at a time the nation is struggling. This is preemptive of the committee work and the Committee wants to announce its halt of this fresh move and for the state oil company to briefly the parliament. The revenue been mortgage are sovereign wealth of the people and the parliament have a duty as the watch dog of the common wealth to step in. The NNPCL today is owned by FG and Nigerians hindered percent hence it’s actions must not hurt their shareholders who we lawmakers represent.
“The Group Chief Executive Officer of the NNPC, reportedly stated that the national oil company is in discussions with international creditors to raise an oil-backed credit facility. This follows the recent revelation that the national oil company is struggling to pay international oil traders a backlog of $6 billion amid subsidy removal. We are calling on NNPCL to halt further plans borrow more loan with crude oil, as the move will sabotage the President’s deal for domestic crude supply. In August 2023, following the removal of fuel subsidy and the unification of the forex market which significantly weakened the naira, the federal government through the NNPCL secured a $3.3 billion loan from Afrexim bank to shore up liquidity in the market.
“Kyari had explained then that the loan would be used to shore up the foreign exchange reserve and provides a more urgent solution to the country’s FX challenges. The loan is said to be paid with crude oil set a $65 per barrel and had earmarked around 90,000 barrels of crude oil for the process. We are urging the NNPCL not to undermine the forensic investigation by the House of Representatives (the People’s Parliament) into crude oil supply with another fresh loan, as move is a threat to local refinery.
“On Monday, the Federal Executive Council (FEC) at its meeting presided over by President Bola Tinubu gave express approval of the sale of crude oil to indigenous refineries including the Dangote Refinery in Naira. The Chairman, Federal Inland Revenue Service (FIRS), Zach Adedeji said Tinubu had directed the NNPC to ensure it was done with immediate effect. Adedeji stressed that the memo by the president when implemented will promote the sale of crude oil within local refineries and NNPC to deal in local currency. So it’s surprising to us that despite the President’s directive, the NNPCL is borrowing again, instead of doing the needful.”
President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude oil to Dangote Refinery and other upcoming refineries in Naira.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a post via his official X handle on Monday.
Onanuga stated that the move, which is to ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, was adopted by the Federal Executive Council today.
PUNCH Online reports that Dangote Refinery, at the moment, requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four.
However, the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot.
The statement added, “The exchange rate will be fixed for the duration of this transaction.
“Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game-changing intervention will eliminate the need for international letters of credit, further saving the country of dollar payments.”
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