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Fuel Crisis: NNPC Sinks $5.8bn On Petrol Importation
The Nigerian National Petroleum Corporation (NNPC) said it spent about 5.8 billion dollars to import Premium Motor Spirit (PMS) popularly known as petrol to combat fuel crisis that resurfaced since late last year.
In a statement signed by Mr Ndu Ughamadu, the Group General Manager, Group Public Affairs unit in Abuja, yesterday, it said the PMS was equivalent of 9.8 million metric tons.
According to the statement, the Group Managing Director of the corporation, Dr. Maikant iBaru, disclosed this during a public hearing by the Senate Committee on Public Accounts at the National Assembly in Abuja.
Represented by the Chief Operating Officer, Finance and Accounts, Mr. AbdulrazaqIsiaka, he said that the corporation carried out the massive importation in fulfilment of its statutory role of supplier of last resort.
This, he said was to ensure that Nigerians do not suffer as a result of product unavailability. The GMD in the statement noted the corporation’s provision of 9.8 million metric tons of petrol so far had helped a great deal in ameliorating the suffering of Nigerians.
He said the corporation’s intervention became necessary following the inability of the major and independent marketers to import the product.
He pointed out that cross-border smuggling due to price disparity between Nigeria and neighbouring countries as well as logistic issues in trucking products to different locations across the country remained serious challenges in the quest for fuel queue-free situation in the country.
The Chairman, Senate Committee on Public Accounts, Senator Matthew Uroghide noted that the public hearing was a part of the Committee’s duty to find lasting solutions to the problem of fuel scarcity in order to make life easy for all Nigerians.
Meanwhile, the Senate, yesterday, mandated its Committee on Public Accounts to investigate the rationale behind a security account allegedly operated by the Nigeria National Petroleum Corporation (NNPC) and Nigerian Agip Oil Company (NAOC).
This followed the adoption of a motion moved by Sen. Dino Melaye (Kogi-APC).
Moving the motion, Melaye said there was the need for the Senate to unravel the objective of the account and source of its funding.
He alleged that the account opened with the name NNPC/AGIP Oil Company IPP Security Account with address NNPC Garki, Harbert Macauley way, is domiciled in First Bank Nigeria Plc with account number 2006367288.
Melaye alleged that the account had an opening balance of N31.7billion and a closing balance of N34.5billion as at April 25, 2017, adding that there were lodgements and withdrawals since January, 2017.
“A lot of questions are begging for answers as regards this account.
“While we need to know the objectives of this account, we also need to know the signatories to the account; is the account known to the Federal Government and what are the sources of the account’s funding?
“About N2trillion is kept in various accounts of government, we are operating a Treasury Single Account yet money is kept in various personal accounts.
“If these monies are properly remitted to government purse, we will have no business borrowing.
“This Senate will continue to expose any corrupt practice in the country because it is time to protect the future of Nigerians unborn,” Melaye said.
The committee has four weeks within which to carry out its investigation.
Meanwhile, the ad-hoc committee set up by the House of Representatives, yesterday, commenced investigations into the incessant killings in Nigeria.
Addressing journalists on their approach, Chairman of the committee, Rep Pally Iriase (PDP, Edo) said the committee of seven lawmakers was going to be bi-partisan in their approach.
He said “We formally commenced our investigations today and we will use a three prong approach via interaction with security chiefs, interface with foreign partners and conduct public hearing.”
Rivers State Governor, Sir Siminalayi Fubara, has described the ongoing construction of the brand new 13.52-kilometre Ngo-Atlantic-Oyorokoto Road as a bold and visionary effort by his administration to open up the coastal region for economic growth and harness the full potential of the state’s blue economy.
The Governor made this remark during an inspection visit to the project site in Andoni Local Government Area. The road, being constructed by Monier Construction Company (MCC), cuts through challenging coastal terrain and leads to a newly identified beachfront facing the Atlantic Ocean.
Governor Fubara explained that while the original plan was to construct a road leading to Oyorokoto Town and its popular beach, his administration decided to expand the project to create an entirely new route that would open access to another pristine beachfront.
“We are doing another inspection today. This particular one is a virgin road, 13.52 kilometres of a new pathway to the blue economy,” Governor Fubara stated.
“Initially, we were constructing a road to Oyorokoto Beach, one of the finest tourist centres in this area. But as we progressed, we discovered another beach directly facing the Atlantic Ocean. It became clear that we shouldn’t limit development to just one site. We want to harness this new beach front as part of our broader plan to develop the blue economy.”
The Governor emphasised that the project, once completed, will not only improve access to coastal communities but also stimulate tourism and economic activities, boosting revenue for Rivers State.
Describing the area’s difficult terrain as challenging, he commended the contractor for its dedication, and expressed confidence that the road would be completed and commissioned by March next year.
“You can see for yourself, it’s a brand-new road in a very difficult terrain, just like the one we saw yesterday. But I strongly believe we will overcome it. From what we’ve seen today, the contractor, MCC, is doing their best, and by next year, hopefully by March, we’ll have the cause to commission this project and give God all the glory,” the Governor affirmed.
Governor Fubara also visited Opobo/Nkoro Local Government Area to assess the progress of work on the Epellema axis of the ongoing 5.2km Kalaibiama-Epellema road project featuring a 450-meter bridge.
Rivers State Governor, Sir Siminalayi Fubara, has expressed satisfaction with the level of progress recorded on the ongoing Trans-Kalabari Road project, revealing that about 75 percent of the critical piling work has been completed.
Governor Fubara made this known while addressing journalists after an on-the-spot inspection of the 12.5-kilometre road project, which will connect the state capital to several Kalabari communities across the sea.
The Governor rode on a boat from a jetty at Rumuolumeni in Obio/Akpor Local Government Area through the rivers and creeks on the project route during the inspection.
The project was awarded to Lubrik Construction Company Limited, on May 15, 2024, with an initial 32-month completion timeline.
The Governor said the visit was aimed at verifying reports from the Ministry of Works regarding the project’s advancement. He commended the contractors for their dedication, and described the progress as “a true reflection of hard work and commitment to excellence.”
“The first phase of the project takes us to Bakana, and features four major river-crossing bridges and nearly five deck-on-pile structures. The terrain is difficult, and the engineering work required is complex. But to the glory of God, I can confirm that the reports I’ve been receiving are accurate. Almost 75% of the piling job, which is the most critical part of the project, has been achieved,” Governor Fubara said.
He emphasised that the Trans-Kalabari Road is one of the most technically demanding infrastructure projects in the state due to its challenging marine terrain but reaffirmed his administration’s resolve to deliver it on schedule.
Governor Fubara highlighted the strategic importance of the road in connecting the Kalabari Kingdom to Port Harcourt, and stimulating economic growth across riverine communities.
“This is a key project that will turn around the lives of the Kalabari people immediately it is concluded. By the grace of God, in the next six months, if we return here for inspection, we might be driving across the bridge,” he said.
Governor Fubara assured Rivers people that his administration remains focused on delivering transformative infrastructure projects that will improve lives and bring lasting development to rural communities.
“We have made a promise to our people to embark on projects that will change lives and bring development, and this is a testament to that commitment,” he added.
The Governor of Rivers State, Sir Siminalayi Fubara, says that the impact of flooding and erosion on the inhabitants of Rivers State, especially those living in coastal communities, are of great concerns to the government.
Governor Fubara lamented the consequences of flood on both human and biotic life, which sometimes lead to loss of life, property, and degradation of the environment.
The Governor made the remark in Port Harcourt during the launch of a book titled, ‘Coastal Zone Flooding And Erosion in Developing Communities, Principles, Cases and Strategies,” written by Emeritus Prof. Wiston Bell-Gam.
According to the Governor, who was represented by the Secretary to the State Government, Hon. Benibo Anabraba, his administration, would continue to undertake and encourage adaptation strategies to combat flooding.
In his words: “The Rivers State Government will continue to undertake and encourage adaptation strategies, such as construction of seawalls and breakers, canals and channels, restoring coastal ecology and ecosystem for coastal resilience and where necessary, the relocation of communities on the coastline.
“These issues are currently receiving the much needed attention and intervention by the recent approval of the construction of shoreline protection along the coastlines of more than five communities in Ogba/Egbema/Ndoni and Opobo/Nkoro LGAs respectively.”
“It is important that as stakeholders in the protection and preservation of marine environment, we all act and advocate for mitigation strategies such as reduction in emission of Green House Gasses that causes climate change and rise in sea levels. Let us promote the use of clean energy and against fossil fuel.
Governor Fubara further cautioned residents to desist from building on waterways.
“We also need to encourage our people to stop developing buildings on and along natural water courses, indiscriminate sea mining and dredging activities on our coastline without consideration for mangroves and swamps,” he stressed.
He appreciated the author for his advanced contributions to the body of knowledge in both Rivers State and globally.
Also speaking, a former Military Governor of the old Rivers State and Amayanabo of Twon Brass, King Alfred Ditte-Spiff, who was Royal Father at the Event, stated that the book was timely to enable stakeholders manage the challenges of global warming.
“Global warming is real. If it’s not addressed globally, a time will come coastal areas will find themselves under water. The coastline of Nigeria is shocking with many mangroves gone,” he noted.
The Reviewer of the Book, who is also the Vice Chancellor of Olusegun Agagu University of Science and Technology, Ondo State, Prof Temi Ologunorisa, explained that the 14-chapter book is timeous as it fills literary gaps between desire and available knowledge on coastal flood and erosion in developing communities.,
“A major beauty of the book that sets it apart is the detailed consideration of flood and erosion control from around the world,” he stated, adding that the book is based on detailed field investigation.