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NNPC Products’ Sales Hit N38.67bn

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The Nigeria National Petroleum Corporation (NNPC), says it recorded N38.67billion from the sale of downstream petroleum products in September.
This is contained in the corporation’s report for September obtained by the News Agency of Nigeria (NAN)in Abuja on Sunday.
It stated that the amount was in respect of revenue from “white products” sold by the Pipelines and Product Marketing Company (PPMC).
The News Agency of Nigeria (NAN) reports that white products include Automotive Gas Oil (AGO), Household Kerosene (HHK), and Premium Motor Spirit (PMS).
The report also indicated that NNPC generated N44.2 billion from the sale of white petroleum products in August.
According to the report, the total revenue for white products sold from January to September 2015 stood at N461.1 billion.
It stated that the Premium Motor Spirit (PMS) contributed about 86 per cent of all the revenues collected from January to September with a value of N395.68 billion.
It stated that the combined value of output by the three refineries in Nigeria amounted to N9.9 billion for crude processed in September.
The report said that the associated crude plus freight cost stood at N6.3 billion, representing a loss of N8.8 billion after an overhead cost of N12.4 billion.
The report also indicated that 75.78 million litres was produced compared to 200.2 million litres in August in respect of products from domestic refineries.
It stated that the total crude processed by the three refineries in September was 261,371.14 bbls (35,648 MT) translating to a combined capacity utilisation of 1.96 per cent
According to the report, only Port Harcourt refinery produced 31,008 million MT of petroleum products, out of 35,648 million MT of crude processed at an average capacity utilisation of 5.77 per cent.
It said the petroleum product supplied and distributed into the country from Off-Shore Processing Agreements (OPA), stood at 763.90 million litres of white products against 701.29 million litres supplied in August.
The report said Dual Purpose Kerosene (DPK), receipt in September was 196.30 million litres compared with zero litres imported in the previous month.
It stated that 507.90 million litres of downstream petroleum products were distributed and sold by PPMC in September 2015 compared to 606.84 million litres sold in the previous month.
The report stated that the sale comprised of 456.81 million litres of PMS, 31.41 million litres of Kerosene and 19.68 million litres of diesel.
It stated that the total sale of white products for the period, January to September stood at 6.41billion litres, with PMS recording 5.08 billion liters or 79 per cent of the sale.
On gas production, it sated that 246 billion standard cubic feet (BCF) of natural gas was produced in September.
The report indicated that an average daily production of 8,187 million standard cubic feet per day was recorded during the period.
It showed that 2,164 BCF of gas was produced between January and September 2015 representing an average daily production of 7,925 mmscfd during the period.
It stated that the production from Joint Ventures (JVs), Production Sharing Contracts (PSC) and the Nigerian Petroleum Development Company (NPDC) contributed about 69.8, 22.0 and 8.2 per cents respectively to the total national gas production.
The report stated that an average of 773 mmscfd of domestic gas supply to the power sector was delivered to the gas fired power plants in September 2015.
It stated that the supply was designed to generate an average power of about 3,141 Mega Watts(MWs) of electricity compared to the 2015 YTD average gas supply of 656 mmscfd and power generation of 2,843 MWs.

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Agency Boss Seeks Improvement In Revenue Collection, Accountability 

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The Managing Director of National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, has called on the management and staff of the brown water regulatory agency to show renewed commitment to boosting revenue generation, enforcing accountability, and improving operational efficiency of the organisation.
Oyebamiji, who made the call recently while declaring open a retreat for NIWA’s top executives and stakeholders in the industry in Lokoja, Kogi State, stressed the need for improved performance across all NIWA offices, particularly in revenue generation.
He expressed concern over the under performance of some area offices, citing cases where annual revenue figures were as low as one or two million Naira.
“This situation is simply unacceptable. Despite management’s provision of resources, incentives, and training opportunities, the expected results were not achieved.
“Moving forward, stricter measures will be enforced to ensure accountability and drive performance”, Oyebamiji stated.
He further addressed the challenges in debt recovery, revealing that many Area Managers failed to cooperate with the debt recovery consultant appointed in 2024.
He said in some instances, debtors were either untraceable or provided inconsistent financial records, making recovery efforts difficult.
“This negative attitude towards financial accountability will no longer be tolerated”, he warned.
The retreat, which brought together key stakeholders including the honourable Minister of Marine and Blue Economy, the Chairman of the House Committee on Inland Waterways, the NIWA Board, Management staff, and security personnels, aims at providing a comprehensive review of the authority’s 2024 performance and establish strategic targets for 2025.
Oyebamiji emphasized that beyond reviewing past performance, the retreat would also focus on capacity building and teamwork to ensure that every officer is well-equipped to meet the set goals.
“This retreat is not just about evaluating past performance, it is about strategizing for the future. I encourage all participants to engage actively, exchange ideas, and work collectively towards making NIWA a leading agency in the marine and blue economy sector”, he concluded.
The two-day retreat featured panel discussions, training sessions, and interactive engagements aimed at strengthening NIWA’s operational framework and fostering a culture of efficiency, accountability, and innovation.

Nkpemenyie Mcdominic, Lagos

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NCDMB Scribe Sues For African Collaboration Strategy On Local Content …… Decries Fragmented Implementation

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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has charged sub-Saharan African nations to keep pace with unfolding trends in the global oil and gas industry.
He also charged them to adopt a unified approach in strengthening local content development, advancing industrialisation and fostering sustainable continent-wide economic growth.
Ogbe stated this in a keynote address he gave at the 9th Sub-Saharan African International Petroleum Exhibition and Conference (SAIPEC), in Lagos, last Tuesday.
According to him, nations such as Nigeria, Angola, and Ghana have made notable strides in local content development by boosting indigenous participation in the oil and gas sector.
He, however, expressed regret that fragmented implementation continues to hinder collective progress.
The NCDMB scribe called for a collaborative strategy among petroleum-producing nations in sub-Saharan Africa that would foster the sharing of best practices and enhance cross-border partnerships that could drive the competitiveness of indigenous players.
In his paper entitled “Sub-Saharan Africa Local Content Collaboration Strategy”, Engr. Ogbe identified harmonisation of local content policies, human capital development, investment in infrastructure, funding for local companies and technology transfer, as key pillars to Africa’s collaboration strategy.
He noted that “there is a need to develop a robust local content framework that positions the region for long-term economic prosperity”, and that this could be fostered “through the collaborative efforts of the African Petroleum Producers Organisation (APPO), and the United Nations Economic Commission for Africa and the African Union”.
The NCDMB boss also highlighted the importance of the African Continental Free Trade Agreement (AfCFTA) as a critical legal framework that could be leveraged to achieve collaborative local content strategy in Africa, given the free trade area it has created by integrating 1.3 billion people across 54 African countries with a combined gross domestic product of over $3 trillion.
On human capital development, which he described as “pivotal to the successful implementation of local content”,  he observed that approximately 60% of Africa’s population is currently under the age of 25, and that this teeming population provides a unique opportunity to fast-track development.

Ariwera Ibibo-Howells, Yenagoa

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ICTN Not Threat To Trade Efficiency – SEREC … Blames Unregulated Charges, Others

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The Sea Empowerment and Research Centre (SEREC) has in strong terms countered claims that the proposed International Cargo Tracking Note (ICTN) is detrimental to Nigeria’s economy.
Contrarily, SEREC said rather, it’s unregulated charges, informal levies, and multiple taxation that pose a far greater threat to trade efficiency and port competitiveness.
In a recent publication, SEREC expressed concern over the misrepresentation of ICTN’s role, particularly in media reports suggesting it would “kill the economy”.
The research center emphasised that ICTN, if properly implemented, would add real value to the port system by enhancing trade transparency, streamlining import statistics, and improving regulatory oversight.
“If we are sincerely concerned about charges that are ‘killing the economy,’ then our focus should be on the various hidden and unregulated costs currently imposed on shippers”, SEREC’s Head of Research, Eugene Nweke, siad.
SEREC provided a detailed breakdown of excessive charges affecting shippers.
These charges, according to the Centre, significantly contribute to inefficiencies in Nigeria’s port system, increasing the cost of trade and making logistics unpredictable.
One of the major concerns raised in the publication is the “Seven per cent Port Development Levy”, which continues to be collected despite the port concession regime.
In addition, “various unregulated terminal handling charges, positioning fees, scanning fees, and labour costs” have further added to the financial strain on shippers.
The “ETO Trucking Fee”, set at N100,000 per truck for entry and exit at terminals, is another significant burden, the Centre noted. Meanwhile, “arbitrary trucking costs” which are unilaterally determined by service providers create further unpredictability in the logistics chain.
SEREC also highlighted the issue of “informal payments and settlements”, which it said involved “unreceipted fees” at different cargo clearance points.
These hidden costs, coupled with “security agency tolls” allegedly imposed by government security operatives along cargo routes make cargo movement more expensive. Additionally, the Centre criticised the “state-favourably on the global stage.”

Given these arguments, SEREC is calling for the “immediate implementation of ICTN” to restore order and efficiency in Nigeria’s port system.

The research Centre argues that ICTN should not be grouped with arbitrary charges but should be seen as a “structured, value-adding fee with a clear function”.

Nweke assured that “by the time the implementation fully runs through a period, the effects and contributions to the port system and its impact is felt by all, then, those who are initially in doubt of the effectiveness of the ICTN would have no option but to embrace and appreciate the enabling device (ICTN)”.

 

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