• Sunday, July 14, 2024
businessday logo

BusinessDay

Five things to know to start your Wednesday

Cart2022AUG29

Petroleum products importation will stop from June 2023 — Kyari

Good news for the petroleum industry as there seems to be light at the end of the tunnel following a renewed statement of assurance by Mele Kyari, the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), who said that by mid-2023, the country will no longer import petroleum products.

He said this during a press conference he held on Tuesday at the State House, Abuja, where he informed the general public that the expected completion of the ongoing maintenance of the nation’s four refineries and the nearly completed Dangote Refinery in Lekki, Lagos, will guarantee a sufficient supply of petroleum products in the country come June 2023. A situation he believes will put an end to the endless, long queues experienced during shortages of products.

The NNPCL top executive also stated that losses from some production facilities had caused the company to shut down some pipelines.

On oil theft, the CEO complained about the magnitude of the crime as places of religious practise such as churches and mosques now serve as tapping points.

He stated that equipment apprehended at scenes of oil theft is destroyed while the culprits are made to face the wrath of the law.

According to Kyari, “30 speedboats, 179 wooden boats, and 37 trucks have been arrested,” adding that the authorities have taken the decision not to arrest any longer but to burn such confiscated products.

“122 people, including highly placed individuals, were arrested between April and August 2022 and handed over to the Economic and Financial Crimes Commission (EFCC) for prosecution,” he said.

“739 ovens for the illegal crude oil theft have been discovered and some destroyed, and 344 reservoirs created and 355 cooking pots were also discovered,” he noted.

On the much debated Tompolo pipelines surveillance contract recently re-awarded, Kyeri explained that the contract was not awarded to Tompolo as a person but a company he has interest in.

President Buhari assures Nigerians of credible 2023 general election

President Muhammadu Buhari has assured Nigerians of a credible poll during the 2023 general election.

He gave this assurance on Tuesday when he hosted members of the Progressive Governors’ Forum (PGF) led by Abubakar Atiku, the Chairman and Governor of Kebbi State, at the State House, Abuja.

He promised that he would ensure that, as a parting gift, Nigerians wouldn’t get intimated, or humiliated by those in positions of power, or more privileged during the 2023 election.

He said that he won’t allow any politician with access to huge resources to influence Nigerians’ voting decisions with money, threats by political thugs, or access to power.

He promised that come 2023, Nigerians’ votes would count as they would be able to vote for candidates of their choice.

“We will not allow anyone to use personal resources or their influence to intimidate other Nigerians. We will not allow intimidation materially, morally or physically. This is the kind of leadership that can emerge and consolidate our nation.

“In six months, Nigerians will appreciate the government of APC that we are sincere and we respect them,” he said.

The President assured Nigerians that events that produced credible results in the Anambra, Ekiti, and Osun States elections showed how he and his political party, the APC, are sincere in leaving a lasting legacy for Nigerians to remember his administration.

Read also: To curb oil theft, NNPC adopts Saudi Aramco’s model

Appeal court squashes Igboho’s N20bn damages claim against FG

Sunday Adeyemo, alias Sunday Igboho’s hopes of seeking compensation in the form of a N20 billion claim for damages melted on him and members of his family were dismissed by the Court of Appeal sitting in Ibadan on Tuesday.

The Yoruba-nation activist had hoped that the N20 billion award granted by the Oyo State High Court for damages melted on him by Abubakar Malami (SAN), the Attorney General of the Federation, and the Department of State Services (DSS), was going to be upheld by the Justice Muslim Hassan Court of Appeal.

However, Justice Hassan declined the complainant’s (Igboho’s legal team) wish for the N20 billion compensation on the following grounds:

    1. That Justice Ladiran Akintola of the Oyo State High Court acted on the wrong principles of law in awarding the cost to Igboho.

 

    1. That the judgement issued was not supported by any evidence but by two affidavits.

The judge erred by using his subjective parameters in assessing the damages in the absence of conceivable and sufficient evidence to support the demands for N20 billion compensation.

  • There was no autopsy to back up claims that two people were killed in Igboho’s residence during the DSS invasion.
  • The judge accused the lower court of taking a narrow approach in enforcing the fundamental human rights violation claims made by Igboho’s lawyers without looking at their merit.

 

However, the judge said that the case does not qualify under the enforcement of human rights because there is a threat to national security.

As a result, the judge held that the lower court lacked the jurisdiction to entertain the suit, and as a result, the Igboho’s party should bear the costs.

NCAA threatens to suspend local airlines over N19bn debt

In an effort to save the domestic air operation, the Nigerian Civil Aviation Authority (NCAA) has issued a stern warning to “local” airline companies over its N19 billion mounting debt profile.

At a briefing held in Lagos on Tuesday, Captain Musa Nuhu, the Director General of the NCAA, threatened to suspend the Certificates of Air Operator’s (AOC) licences of defaulting airlines.

In attendance at the briefing were the members of the Airline Operators of Nigeria and ground handlers.

Capt. Nuhu said that going forward, a new Memorandum of Understanding (MoU) for payment will be signed between the agency and the defaulting airline operators. According to him, any airline that defaults in making its payment up to three times will have its Certificate of Air Operators’ Licence suspended.

He complained about the dubious behaviour of these defaulting airlines, which, according to him, have collected over N19 billion but refused to remit to the NCAA for onward distribution.

Mikhail Gorbachev, Soviet Union’s last leader dies at 91

Mikhail Gorbachev is dead. He was the last leader of the Soviet Union before the Union’s collapse in 1991. He was 91 years old.

According to Reuters news agency, the former Soviet leader passed away Tuesday from a long term illness at the Central Clinic Hospital.

It was reported that Mikhail Gorbachev was hospitalized at the beginning of the Covid-19 outbreak in 2019 and was placed under special treatment.

Gorbachev who brought an end to the Cold War against the wishes of his opponents in Moscow will be remembered by the west for his role in the fall of the Soviet Union.

Gorbachev’s era brought about a new relationship between the East bloc and the west in a bid to maintain a strong foreign policy to repair the damage of Cold War hostilities between the two power houses.

Click to read more: Mikhail Gorbachev, Soviet Union’s last leader dies at 91