The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.
The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.
The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.
Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.
It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”
The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.
It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.
The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”
The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.
It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.
saintopus: Dec 06, 2024 The PH Refinery ships its first export of petroleum products to Dubai. The company is expected to load the cargo in the coming days onboard the Wonder Star MR1 ship, signalling the commencement of operations at the plant and the exportation of petroleum products.
The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres.
Although the volume coming from the NNPC into the global market is still small, the development has the potential to impact the Very Low Sulphur Fuel Oil (VLSFO) benchmarks in the future while changing the market realities for Atlantic Basin exporters into Nigeria and other regions.
The sulfur content of the export by NNPC stands at 0.26 per cent per wt and a 0.918 g/ml density at 15°C, according to Kpler, a data and analysis company.
The cargo was reportedly sold at an $8.50/t discount to the NWE 0.5 per cent benchmark on a Free on Board (FOB) basis.
Kpler reported that the development would help displace imports from traditional suppliers in Africa and Europe, as Nigeria’s falling clean product (CPP) imports are already decreasing, dragging imports into the wider West Africa region lower as well.
nairalanda1: So, that means you support government incurring more debt so that you can enjoy cheap fuel.
Good.
Please why are we incurring more debt now that APC has removed subsidy TWICE, despite local fuel production by PDP-licensed private refinery
What is the logic for the increased borrowing even though all socioeconomic indicators are getting worse?
gabydaniels: Aug 25, 2016 The Vice President, Professor Yemi Osinbajo, has disclosed that the federal government has so far saved the sum of N1.4 trillion for not paying oil subsidy.
He also assured Nigerians that very soon, the foreign exchange market would stabilise going by some radical policies already introduced by the Central Bank of Nigeria (CBN).
The vice president who spoke in Kano yesterday during the third day of the 15th Joint Planning Board and National Council on Development meeting, urged Nigerians to restore confidence in President Muhammadu Buhari’s administration, insisting that soonest, the current economic problems would become a thing of the past.
“With the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,” he said.
“Also, a more flexible exchange rate regime, we will have to decrease the pressure on the external reserve. In the short run of course, there should be consequences for inflation. We expect that with greater priority we have seen in the implementation of the policy by the CBN, the foreign exchange market will stabilise and confidence will be restored.
Dotherightthing: I just knew I would see the stupid comment from uwaeda
What kind of comment was this from All Promises Cancelled, APC leaders looters before we allowed them implement their changes 11 years ago
How many pictures of APC incomplete projects are you using to pay the subsidy Nigerians are forced to pay them for the massive corruption in their oil sector?
anonimi: Petrol should never cost more than N70 per litre, says APC
January 19, 2015
The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.
On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.
But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.
It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.
That's so true, especially after oversabi made him lose PDP presidential ticket and running mate despite going around begging for it.
Why did he destroy the party that made him LGA chairman, minister, governor etc
anonimi: Wike lobbied PDP committee to be Atiku’s running mate – Ex-gov’ship aspirant
Thu, 29 Sep 2022 14:33:04 WAT
Muazu Magaji, a former governorship aspirant of the Peoples Democratic Party in Kano State, has alleged that the Governor of Rivers State, Nyesom Wike, lobbied members of the party’s committee constituted to advise the presidential candidate, Atiku Abubakar, on the choice of his running mate.
Magaji disclosed this while speaking on Channels TV’s Sunrise Daily, on Thursday.
The Kano politician also argued that there was no proof that Atiku promised Wike the vice president position as claimed.
The PDP committee had recommended the Governor of Delta State, Ifeanyi Okowa; Governor of Akwa Ibom State, Udom Emmanuel and Wike.
The committee, however, scored Wike above the other two contenders but Atiku decided to settle for Okowa. A decision that has since unsettled Wike’s camp.
Magaji, however, claimed that Wike lobbied to be scored ahead of others, adding that the Rivers State governor should not be trusted with important positions in the country.
2023: PDP and politics of healing Wike’s self-inflicted injury
Then, the race began in earnest for three years now, reaching a frenzy with the works of the two PDP committees on zoning. The first was the Gov Ifeanyi Ugwuanyi committee on the zoning of the PDP party offices. The Ugwuanyi committee quickly told the world the committee’s assignment did not cover zoning the office of the president. Though this was true, the question is: why didn’t the Ugwuanyi committee zone the PDP chairmanship to the North without aligning it to the divide that would produce the PDP presidential flag-bearer? The second committee headed by Gov Samuel Ortom of Benue state was specifically on the zoning of the presidential ticket and, with the votes of the representatives of all the 17 Southern states without any exception, the Committee unanimously recommended throwing open the PDP presidential ticket, which the PDP NEC simply upheld.
One thing irrefutably stands out – Wike shot himself in the leg. Here was a man who had an overarching influence on both committees but could not insist that the ticket be zoned South. Many had wondered why? The reason is also relatively in plain sight: the Southeast factor. As the clamour for zoning of the presidential ticket of the PDP to South reached its crescendo, many had pointed out the fact that though the PDP Constitution had prescribed zoning of the office of the president to be between North and South since the South-west and South-south had taken their turns in producing the president and the vice in this current dispensation in the persons of Olusegun Obasanjo and Goodluck Jonathan, zoning this time around, should not just be to the South but the Southeast.
Atiku Abubakar went a step further by offering to step down from the race if it would be agreed that the touted zoning to the South would mean micro-zoning to the Southeast. Wike and the rest could not take the Atiku challenge maybe because Atiku would likely back Peter Obi, who was his vice-presidential running mate in 2019 and an ally. The prospects of Peter Obi picking the ticket if PDP zoned South was so real compelling Wike to go for an open contest, believing he could pick it up ahead of Atiku, Tambuwal and Bala Mohammed, given his large war chest.
ddippset: Says a man who hijacked the party and singlehandedly produced the last 4 National Chairmen of the party for his own selfishness.
Says a man who accepted nomination to be running mate to Fulani Atiku. He knew it was injustice to give Atiku the ticket yet he lobbied to be the VP.
He knew the party had to go South for the 2023 election, yet he still put Secondus as National Chaiman just to hijack the party.. Only to push Secondus out because he wanted the ticket 2023.
This man remains the biggest problem of PDP.
He can only deceive and fool his minions, not reasonable people.
kingbee90: This was before Wike started drinking 40 year old whiskey. That whiskey has really affected him badly.
It was also before he and Fayose were cursed out by Sheriff.
anonimi: No room for Wike, Fayose in PDP again —Sheriff
Also reacting to the judgment, its apparent beneficiary, Senator Sheriff, vowed to put in place a machinery that would not give room to people like Governors Nyesom Wike and Ayodele Fayose of Rivers and Ekiti states, respectively in any future arrangement in the party.
“I will engineer a restructuring of PDP such that characters like Wike and Fayose cannot find a way through to attain any position of prominence in our party in the future. They have brought shame and agony through the application of their crude and godless politics which is at variance with the principles upon which our founding fathers built our great party.
“We must find a way to sieve things so that only men of character and integrity can come through for positions of responsibility at all levels of our political engagement in the country.
“We must urgently steer the ship of PDP clear of the path of infamy which Wike and Fayose has brought our party, making Nigerians to mistaken PDP as a training ground for thugs. That is the urgent task we have. We cannot continue to advertise thug brand and expect Nigerians to take us seriously,” he said.
Anishinaabe: Very thoughtful comment. Our bane is this rubbish bureaucratic nonsense. We copy things that are totally irrelevant. What the hell is environmental impact assessment? Another mumbo jumbo programmed into your skull to super inflate contract sums with jibbersish.
The ones your white saviours have done in the past 100 years, who dem ask? Were there no trees or animals impacted by their crude means of development?
Today they're telling you about fossil fuels and shit, only after they've transitioned to so called new energy, and they know you can't afford that shit too...Now you're holding tight onto straws, protecting what they spent 200+ years "destroying" .
Whenever the road is completed, enemies can decide in protest never to ride on it, it's very valid and within their rights. Make dem no disturb the rest of us.
EIA ensures that roads are not washed away and they don't lead to flooding of neighbouring areas, among others.
EIA done by our white saviours is why our leaders looters steal money here that should do similar EIA to buy properties there, and enjoy basic things like water flowing through pipes into homes.
thewinning101: PANDORA PAPERS: Buhari visited Tinubu in corruption-tainted London villa acquired by Oyetola
Governor Oyetola, a relative of Mr Tinubu, may have sabotaged his own country by buying the exotic property as Nigeria made to seize it.
ByNicholas IbekweandTaiwo-Hassan Adebayo October 7, 2021 in Headline Stories, Pandora Papers Reading Time: 8 mins read
It was a meeting of two of Nigeria’s most influential politicians in London – President Muhammadu Buhari was visiting political kingmaker and senior member of his ruling All Progressives Congress (APC), Bola Tinubu.
In July, the presidency announced that Mr Buhari was heading to London for an education summit. The office also added that the president would also see his doctors for “medical check-up”.
Coincidentally, Mr Tinubu, who had travelled to London earlier, was also receiving treatment for an undisclosed ailment in the British capital. So, a perfect setting for both men to meet was created.
RichBoy247: . Cry well well. Cry to sleep and wake up in tears. We did it in Lagos, you said Nigeria no be Lagos, but now we have done it in Nigeria. We made Lagos a one-party State, now we have made Nigeria a one-part nation. If you want to cry, then cry, wail, scream and roll on the ground and inside the mud, we run this game, we are the BATists.
China is a one-party nation and it is ruling the world. The fraudulent multi-party nonsense democracy that the child rapists and human flesh eaters in America are forcing on all nations has not worked in Nigeria, so let us try this China styled uni-party democracy that Tinubu has established. If you don’t like it, the borders are opened
Do Chinese people hustle for money to pay private school fees because they have leaders looters who steal their commonwealth that should employ well paid teachers to make education free for all children
anonimi: Ratio of public to private schools in Lagos State is one to 22 ― Commissioner September 4, 2022
The Lagos State government has said the ratio of public to private schools at both primary and secondary school levels in the state is one to 22.
The state’s Commissioner for Education, Mrs Folasade Adefisayo, gave the revelation in her remark at the 2022 edition of the Total School Support Seminar Exhibition (TOSSE) held at Oregun in Ikeja between Thursday and Friday.
funkmrflexx: I've been married for 3 years now with 2 kids, I try my best to take care of my family but the economy has become very bad so it's no longer possible to take care of a family of 4 on just 1 income. When I had money, I setup a business for my wife because I want her to be engaged and also she can support with whatever she has from the business, but after a year the business crumbled with no results to show (she gave many excuses on why she can't continue the business), even after that I've tried engaging her on other endeavors but she's not always serious.
Now she does nothing, she just presses phone and play games all day long, all the responsibilities are on me, basically everything from school fees, feeding, house rent to buying a cube of Maggi.
I've tried talking to her several times but she will pretend to be serious and goes back to default settings, I'm tired and its really talking a tole on me, sometimes I just get angry at her for no reason and I don't even want to come home.
It's not the fact the she's staying home that's the issue, its the fact the she's not showing any effort to try and do something. I'm tired because all the money I make is being used for feeding and running the house, I can't even save or even think about buying properties
In her mind, she has added two kids to your life and that is enough contribution from her.
If you like don’t take care of yourself, she will make the children abandon you in old age, under the guise of going to take care of HER grandchildren.
HacheNoire: What value is in Israel? Watermelon and Tomatoes?
What value does Israel have to offer outside begging from other nation? That country cannot even feed itself. It begs or steal everything.
Thankfully, Tinubu has mining rights to offer Trump, so that the American can kill innocent northerners as collateral damage in his quest to destroy Muslim terrorists accused of Christian genocide.
yinkus6750: It's like politics and drugs goes together? Ex two term councillor, current aide to who ? Destroying the youths they ought to be building for future leadership.
Let the law take its course and he should name other accomplice and financier.
Why do you think that the law will take its course if he remains loyal to the Ogas at the top in Oshiomhole’s Assembly of Past Criminals, APC
chisomkachy: The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.
Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.
Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three accounts in Standard Chartered Bank.
The accounts are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.
The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the accounts.
Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s accounts following the EFCC’s application in a suit marked FHC/LCS/1064/2020.
The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.
But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the accounts in his chamber.
During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).
The EFCC lawyer told the court that the application to unfreeze the accounts was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.
Section 44 of the Constitution concerns constitutional rights to property.
Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the accounts stated in the following schedule:
“ACCOUNT NAME, FINANCIAL ACCOUNT INSTITUTIONS, TYPE OF ACCOUNT, 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.
“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”
If you have a good lawyer and are willing to be an asset to the authorities then you can avoid doing the time.
Keyamo can provide more details on how to handle the matter for this city boy.
Racoon: Festus Keyamo Defends Tinubu From Drug Trafficking, Says Tinubu Mistakenly Shared Flats With Drug Lords
The Minister of State for Labour and Employment, Mr Festus Keyamo, has distanced the All Progressive Congress presidential candidata, Bola Tinubu, from being a drug baron who was involved in the traffic of narcotics in the United States.
Keyamo, who also doubles as APC Presidential Campaign spokesperson, noted that the former governor of Lagos State only shared a block of flat with drug barons about 30 years ago in the US.
His reaction is coming following documents of a Chicago District Court indicting and convicting Tinubu of drug dealings and money laundering in 1993.
The document which emerged online two days ago, described APC standard-bearer as a drug baron, adding that Tinubu entered a plea bargain, leading to the forfeiture of his assets to US authorities in 1993
It was also pointed out that Tinubu forfeited the sum of $460, 000 dollars in his bank account at First Heritage Bank to the US government.
Speaking on Wednesday on Channels TV, Mr Keyamo dismissed such claims, insisting that Tinubu was linked to drug peddlers who were his neighbours.
He said: “What happened was that Tinubu went to open an account. The address which he used in opening the account was the address used by these people. I think some blocks of flats. Maybe, he was happy to be in that block of flats too.
“So, they now link it that the other people they were investigating for narcotics are in the same address used by Asiwaju to open that account.’’
RichBoy247: . This Wike do una strong thing oooo. After delivering Rivers for Tinubu in 2023, he delivered Abuja LG for Tinubu in 2026. Imagine! A completely new entrance into Abuja Politics, he left Rivers for Abuja and conquered Abuja again. The single PDP candidate that won is even Wike’s boy. How do you know a Legend?
You know a legend by understanding the Stockholm Syndrome environment that he and other looters hailed as leaders have created.
Why else do you think that we are excited about politics and not interested in governance outcomes from our tax revenues
fuckJones: (A case study of Nigeria citizens & their elected oppressors).
During the Soviet dictatorship of Joseph stalin. He was a brutal dictator with mind of his own. On one fateful day, stalin came to Politburo meeting with a live chicken. Standing in front of audience, He started to pluck the feathers of the live chicken off one by one. The chicken trembled in pain, blood tricking out of its pores. It gave out grievous cries, but stalin being a cruel dictator continued without remorse plucking the feathers out until the chicken was completely Unclad. After which, he threw the chicken on the ground. The Unclad chicken was staggering in pain. stalin goes into his pocket and from his pockets, he took out some chicken food and started to throw it at the poor & hapless creature. The poor chicken in pain started eating and stalin started walking towards his seat. As he walked away, he kept dropping some feeds on the floor & the chicken followed him and sat feeding from his feet.
Joseph stalin then turned to members of his political party leadership. He said, "This chicken represents the people". "You must disempower them, brutalise them, beat them up, starve them and then leave them". "If you do this, go into your pocket & give them peanuts when they are in that helpless and desperate situation, they will blindly follow you for the rest of their life, worshiping you". "They will think you are a hero forever. They will forget that, you're responsible for their sorrowful situation in the first place." Breath taking, isn't it ?
Now! Take a look at all the people some Nigerians are busy defending on social media. Take a look at those they call their heroes. They are the same people who plunged Nigeria into the situation she is. They are the same people who are responsible for their predicaments. Did you see the numbers of people that throng to Saraki's House during this Sallah period to go collect peanuts? People trooping to Bola Ahmed Tinubu Foundation offices to collect branded One kilo bag of Rice & Noddles. Did you see the number of people of all ages who troop out to welcome Ex- convict James Ibori to South South! Do you see the number of handle mop following obi as if he is a seat? what of the one following dino malaye?
Your guess is as good as mine. Nigerians kill those they should defend and defend those they should kill! Pass to all your contacts & let your Political & Religion Leaders read, understand & digest.
SarcasticWords: The TVC News host further described the exchange as a “brutal assault” and a “mental torture” for viewers, arguing that Bwala failed to achieve his objective of selling the policies and performance of the Tinubu administration during the interview.
Oga Sarcastic, abeg what better policies and performance are there to sell about this failure of a city boy recycled?
The worst rogue in history, who has squeezed out multiple times increase in tax burden on Lagosians without delivering ordinary water in 27 years of progreThief administration!!!
Who don’t need to break the bank for overhyped and unreliable western military hardwares!
Iran has re-define warfare. “Expensive does not mean reliable”
Our military also need learn from Iran. Invest in local production. We have the population to mass produce military hardware’s to probably nail the US or Israel in the future, just like Iran did.
Iran will be getting loads of military alliance and sales post war.
How can an uneducated population mass produce military hardware
Do you know if America and/or Israel are among the countries with the highest number of children out of school?
Any idea if the few lucky American and Israeli children in school are going to private schools because governors like Tinubu steal money that should employ enough teachers to make primary, secondary and vocational education free for all children
Topman7: Doesn't matter, because Hamas doesn't care about or impact Nigeria or any other place but that Israel region.
THAT'S ALL THEY ARE INTERESTED IN.
But ISIS, Boko Haram, Al Qaeda etc, are interested in far beyond the middle east, and they have NOTHING to do with Iran or Hamas or Hezbollah who only care about resisting Israel.
So if you REALLY want to end Boko Haram in Nigeria, call in the Iranians. They will decimate them in a week. Maximum 10 days. It's over.
All these back and forth posts are unnecessary since city boy and his pastor wife already cut a deal with Trump for recolonisation of Nigeria, using Christian genocide as an excuse to kill innocent northerners in collateral damage.
SpamJessexjudah: Maybe he'll have Wike become his Vice lollll
Where did you hear that the ologogoro, land grabber has been begging for VP position, like he begged Atiku three years ago, after he used oversabi to kill himself in a suicidal act
Politics › Re: Again, Dangote Refinery Hikes Petrol Price To ₦1,175 by anonimi: 3:18pm On Mar 09
