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Petroleum Imports Gulp N2.2trn In Nine Months, NBS Confirms

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The Federal Government spent N2.17trillion in the first nine months of 2020 on importation of petroleum products into the country.

The petroleum products, according to the latest data obtained from the National Bureau of Statistics (NBS), consists of mineral fuels like Natural gas, oil, Bituminous coal, amongst others.

A breakdown of the nation’s spending on the importation of these products shows that a total of N1.25trillion was spent in the first quarter of the year, Q1’20, represented by N662.2billion, N290.6billion and N299.8billion in January, February and March.

Apparently, due to the outbreak of the Covid-19 pandemic which led to a nationwide lockdown, the spending on the importation of petroleum products declined significantly in the second quarter of the year (April to June) to N221.3billion.

The nation’s petroleum import for Q2’20 shows an 821% decline when compared to the first quarter import statistics.

However, in the third quarter of the year, the country recorded another sharp increase in spending on petroleum products importation at N700.4billion, at the time the government relaxed the lockdown.

Europe topped Nigeria’s highest source of the imports, as a total of N593.3billion was spent in sourcing the products from the continent, while Asia came second with N61.4billion, followed by America N37.2billion.

Surprisingly Nigeria also imported petrol from African countries spending a total of N8.6billion.

Meanwhile, stakeholders across the nation have continued to lament on the state of the nation’s petroleum industry.

Available statistics show that Nigeria holds 37 billion barrels of proven oil reserves as of 2016, ranking 10th in the world and accounting for about 2.2 per cent of the world’s total oil reserves of 1.65 trillion barrels.

Nigeria has proven reserves equivalent to 237.3 times its annual consumption.

This means that, without Net Exports, there would be about 237 years of oil left (at current consumption levels and excluding unproven reserves).

Globally, Nigeria stood at 37th in oil consumption, accounting for about 0.4 percent of the world’s total consumption of 97 million barrels per day.

Nigeria consumes 0.10 gallons of oil per capita per day or 35 gallons per capita per year.   Refineries operations Nigeria also have four refineries situated at Kaduna, Warri and two in Port Harcourt, but they are all in a series of challenges plaguing the fate of its productivity, as they have failed to produce any petroleum product in the past three years.

Despite this abundance the nation’s four refineries processed no crude and combined yield efficiency is zero percent in the first nine months of 2020.

Though industry authorities have claimed that this flat output was, due, largely to on-going rehabilitation works in the refineries, records show that the output position has been less than 10 percent of installed capacity in the last 10 years.

However, the authorities are of the view that despite the deplorable operational state attributable to the ongoing revamping of the refineries, the efforts are expected to further enhance capacity utilization once completed. In its latest operational report, the Nigeria National Petroleum Corporation (NNPC), stated that, “The Corporation has been adopting a Merchant Plant Refineries Business Model since January 2017. The model takes cognizance of the Products Worth and Crude Costs.”

A cumulative of the combined value of output by the four refineries (at Import Parity Price), along with the operational expenses in the first eight month of 2020 amounted to an operating deficit of N74.8billion.

This shows a decline of 28 percent when compared to the corresponding period of 2019 which recorded N104billion.

It was gathered that there was no associated crude plus freight cost for the refineries since there was no production.

The Petroleum Product Marketing Company (PPMC), a subsidiary of NNPC, sold a total of 9.86 billion litres of petroleum products between January and August, 2020.

This is a decrease of 30 percent when compared to 14.108 billion litres sold in the corresponding period of 2019.

The decrease, according to the corporation, is as a result of low operational activities due to the outbreak of Covid-19 pandemic.

The Department of Petroleum Resources (DPR), has assured Nigerians of petroleum products’ availability and stable fuel supply in the country at all times on the strength of its import dependency.

The DPR also cautioned oil marketers against engaging in sharp practices that are capable of distorting products supply.

The DPR stated that there are sufficient petroleum products nationwide, while it also advised petroleum products marketers against hoarding and creating artificial scarcity of the commodity.

The apex petroleum industry regulator promised to intensify its monitoring and surveillance of petroleum products outlets to ensure compliance with quality, quantity and safety of operations in line with its regulatory mandate.

It also advised consumers to report any infraction, such as under dispensing of petroleum products at any filling station to any DPR office nationwide.

The DPR restated its commitment to safety and advised consumers to observe all necessary safety protocols in the handling of petroleum products especially at this season of harmattan.

It further assured Nigerians that it would continue to initiate appropriate initiatives to enable business and create opportunities for investors and stakeholders in the oil and gas industry in Nigeria.

In another development, the NNPC has advised against the precipitous relocation of tank farms from their current locations along Ijegun, Kirikiri areas in Lagos and other parts of the country, in order to avoid dislocation in the supply and distribution chain of petroleum products across the country.

The corporation made the submission at a hearing by the House of Representatives’ Ad-hoc Committee on Relocation of Tank Farms in Residential Areas of Ijegun, Kirikiri.

While presenting the position of NNPC at the hearing, Group Managing Director, Mallam Mele Kyari, stated that NNPC was not averse to the relocation of petroleum products tank farms and depots sited in residential areas but would rather that it be carried out in a planned manner so as not to cause disruption in the fuel supply and distribution chain.

According to Kyari, “Tank farms and depots were a major artery for receiving and distributing imported petroleum products to all parts of the country and that their abrupt relocation could trigger a crisis not only in the downstream sector but also in the nation’s economy in general”.

 

 

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Monarch Hails Fubara Over Road Project

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Ogene of Asa Asi Asaga Community in Ogba/Egbema/Ndoni Local Government Area of Rivers State, Eze Andrew Enemuwa, has expressed gratitude to the Governor of the State, Sir Siminalayi Fubara for the award of the contract for construction of Igiri- Ubimini-Egbeda-Elele road project.
Eze Enemuwa said the people of the local government are proud associating with a visionary leader like Governor Fubara whose interest in the development of his people knows no bounds.
The monarch, also the Secretary of Ogba Traditional Rulers and Chiefs Council said the unprecedented crowd of ONELGA people that attended the event shows that Governor Fubara is greatly loved and cherished by the people.
The Eze Dike Di Nu Obi of Ogbaland said the presence of the traditional rulers at the event speaks volumes.
The Okene Asa Kaka urged the people of the area to support Governor Fubara to attract more development to the local government area.

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1,680 Children Abducted In Nigeria -UNICEF

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As Nigeria marks 10 years anniversary of the abduction of the Chibok girls, the United Nations Children Fund( UNICEF) has  put the number of abducted children at different schools within the last 10 years in Nigeria at 1,680.
The organisation said this at an event it organised in conjunction with the Faculty of Media and Communications Studies in the University of Port Harcourt to mark the 10 years anniversary of Chibok girls abductions.
According to UNICEF release read by Communication officer, UNICEF Nigeria Dr Mrs Ijeoma Onuoha Ogwe, 180 children were killed within the period under review due to attacks on schools, while an estimated 60 school Staff were kidnapped,14 killed and more than 70 attacks on schools.
It urged the Nigerian Government and security agencies to intensify effort towards the rescue of the 90 remaining Chibok girls.
UNICEF described the Chibok girls saga as a wakeup call to the severe risks children face in their pursuit of education
‘Today, reflecting on this tragedy and other recent abductions, it is evident that our efforts to safeguard our children’s future must be amplified
“Given this alarming statistics, we must address not only the symptoms but also the root causes of this crisis,” it said.
UNICEF also said that the threat of abduction of students is severely affecting children’s learning.
“As at 2021, over one million children were afraid to return to school and in 2020, around 11,500 schools were closed due to attacks”, it said.
It called on the government and the international community to ensure that all schools have the resources and tools to fully implement the minimum standards for safe schools, focus on the most vulnerable regions and address critical gaps in safe schools infrastructure.
UNICEF also called for preparedness for natural disasters, conflicts and comprehensive approaches to violence against children.
Others include, strengthening law enforcement and security measures to protect educational institutions and communities from attacks and abduction, prioritising education and child protection in national policies and budget allocations to create a safer, more inclusive environment for all Nigerian children and ensure the continuity of education and learning when schools are shut through multiple learning pathways such as radio and TV programme and through digital platforms the Nigerian learning Passport.
Ogwe said UNICEF is working with the Nigerian Government to ensure that every child can access safe learning environment.
“The agency has supported the inauguration of state safe school steering committees and the drafting of state costed implementation plans for safe schools in 13 States.
“It also provides school grants, safety kits training and awareness raising to accelerate the implementation of the minimum standards for safe schools.
“As we remember the Chibok girls and all children whose rights to education have been compromised, let this somber anniversary serves as a catalyst for change”, UNICEF said.
Speaking with The Tide, Dr Nwachukwu Ginikanwa said the anniversary should serve as a wakeup call to the authorities to take the issue of security seriously.

John Bibor

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Fubara Has Rekindled Rivers Hope-Former Envoy

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As the one year anniversary of the Governor Siminalayi Fubara administration in Rivers State draws closer, a former Chairman of Eleme Local Government Council, Amb.Oji Ngofa, says the Governor has rekindled the hope of Rivers people.
Amb. Ngofa said within the one year of the administration, the Governor has shown a sense of connecting the people and the government unlike the immediate past administration led by Chief Nyesom Wike.
The former Deputy National Secretary of the All Progressives Congress ( APC) explained that within one year, Rivers people are seeing a visionary leadership whose imagination is essentially focused on the desire to improve the lives of the people, with the sole aim of creating an economy where everyone can participate.
Speaking in an interview in Port Harcourt, the forrmer Ambassador said Governor Fubara has been able to engage relevant stakeholders and sectors of the State which, according to him, remains the hallmark of leadership.
He emphasised that with Governor Fubara, no doubt, Rivers State is in safe hands, saying with Governor Fubara, there is the likelihood that the State would be greater than other States.
He noted that the Governor’s vision to develop and give capacity to the people in order to participate in the economy as well as creating the enabling environment for business to flourish in the State, coupled with his peaceful nature, have all combined to endear him to the people.
Amb Ngofa said real power comes from how well one is connected with the people through good leadership, and the people on their own voluntarily surrender to you just as Governor Fubara has demonstrated within the past one year, stressing that that has informed his decision as an astute politician just like all well-meaning Rivers people to align with the Governor in order to move the State forward .
He described Governor Fubara’s milestones in infrastructure, human capital development, health and agriculture as monumental.
Amb Ngofa urged the Governor to ensure his revitalisa- tion programme on Songhai Farms extends to Buguma and Andoni fish farms and Rivers State Sustainable Development Agency (RSSDA), and expand on the initiative, as it is critical in job creation for the teeming youths of the State.
“ In his one year in office as governor, Rivers people have seen the difference in terms of governance and total departure from self. Now Rivers people are having easy access to their governor. His focus is on policies and programmes that are capable of revitalising the economy aimed at improving the wellbeing of Rivers people, not just one man. Projects are springing up in all parts of the State, not necessarily in Port Harcourt and Obio,/ Akpor. All in just one year despite the distractions”, he said.

The Port Harcourt ring road loan to small skill medium businesses are one of the biggest achievements of his administration
Aleto- Woji road abandoned by the last administration had been carried on by a government that has interest of the people at heart
Despite the destruction ,he had demonstrated sense of focus on his primary duties as a governor
We are not just seeing monumental projects ,Rivers people are seeing total commitment to create an economy that will enable Rivers people to have a hold on there lives especially with projects like revitalizing Shonghai ,plaintain farms .
It is critical focusing on human capital development .I am aware of his programme of revitalising the economy ,state owned industries through public private partnership
Rivers people hope had been rekindled and those of us who are critic to the governor Wike led administration had been vindicated
Urging Eleme people to support the administration of governor Fubara to achieve their common dream which is development.

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