Business
Nigeria Has No Record Of Produced, Exported Crude Oil -Falana

A human rights lawyer and activist, Mr Femi Falana yesterday revealed that Nigeria has no record of the crude oil it produces or exports on a daily basis.
Falana described the trend as shameful.
Falana spoke yesterday at roundtable forum organised by the Socio-Economic Rights and Accountability Project (SERAP) in Lagos.
He said the recent report by the Nigerian Extractive Industries Transparency Initiative (NEITI) showed that the Nigerian National Petroleum Corporation (NNPC) and oil majors had yet to remit $22 billion and N481 billion to the Federation Account.
“Nigeria is the only oil producing country that does not know how much crude oil is produced and the government has refused to obtain the meter that would provide an accurate record.
“A study was done between 2011 and 2014 by the Nigerian Maritime Administration and Safety Agency (NIMASA) on how much-unrecorded oil was taken out of Nigeria.
“In one port alone at Philadelphia, United States, the difference between the oil recorded that was taken out from our port and the oil that arrived there was about 60 million barrels valued at $12.7 billion dollars,” Falana said.
He noted that the present administration of President Muhammadu Buhari had been recovering stolen funds, they needed to do more to ensure that the humongous amount of money stolen from the oil sector was recovered.
According to him, these funds can be deployed for education, health and infrastructural development in the country, especially as over 13 million children are currently out of school.
He urged SERAP to challenge the non-implementation of the Deep Offshore and Inland Production Act which ought to have been enforced since 1993 but had been jettisoned by subsequent administrations.
“We must go to the Department of Petroleum Resources (DPR) to ensure that we get the appropriate information as enshrined in the Freedom of Information Act (FOI),” he said.
A report which was presented at the forum further highlighted the pitfalls in the oil and gas sector.
“The Nigerian oil and gas sector has in the last 10-years witnessed its fair share of divestment by international oil companies, such as Shell, Total, Eni, and Chevron.
“These oil companies have divested their interests in oil blocks and marginal fields, many of which are Nigerian onshore assets.
“Meanwhile, the information received from the Federal Inland Revenue Service (FIRS) for the period between 2005 and 2015 revealed that CGT returns were filed for a total disposal of $8.6billion,” the report reads in part.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime2 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime2 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime2 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime2 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime2 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics2 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports2 days ago
Bournemouth, Newcastle Share Points
-
Sports2 days ago
Iwobi Stars As Fulham Overcome Brentford