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NNPC Posts 34% Increase In Trading Surplus …Records N337.63bn Products Sales

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The Nigerian National Petroleum Corporation (NNPC), has announced an increased trading surplus of ¦ 5.28billion in its December, 2019, operations compared to the ¦ 3.95billion surplus posted in November, last year.
A release yesterday in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that details of the surplus were captured in the December, 2019, edition of NNPC’s Monthly Financial and Operations Report (MFOR), which, among others, showed that the 34 per cent increase for the period resulted from improved performances by some of its entities both in the Upstream and Downstream sectors.
The release listed NNPC’s subsidiaries with notable improved positions to include: Integrated Data Services Limited (IDSL), Nigeria Gas Marketing Company (NGMC), Nigerian Pipeline and Storage Company (NPSC) and Duke Oil Incorporated.
It explained that in general terms, the performance was impacted positively by the reduced deficit posted by NNPC Corporate Headquarters during the period under review; adjustments to previously understated revenues by IDSL and Duke Oil; and reduction in the costs of pipeline repairs/Right of Way maintenance and gas purchases by NPSC and NGMC, respectively.
In the gas sector, out of the 239.29billion Cubic Feet (BCF) of gas supplied in December, 2019, a total of 148.32BCF of gas was commercialized, consisting of 34.78BCF and 113.54BCF for the domestic and export market, respectively.
According to the report, this translated to a supply of 1,121.77million Standard Cubic Feet per day (mmscfd) of gas to the domestic market and 3,662.70mmscfd of gas supplied to the export market for the month.
The corporation noted that 62.22 per cent of the average daily gas produced was commercialized, while the balance of 37.78 per cent was re-injected, used as Upstream fuel gas or flared, adding that gas flare rate was 7.78 per cent for the month under review i.e. 598.03mmscfd, compared with the average gas flare rate of 8.56 per cent i.e. 678.02mmscfd for the period December, 2018 to December, 2019.
The report stated that gas supply for the period December, 2018 to December, 2019 stood at 3,105.48BCF out of which 466.00BCF and 1,369.90BCF were commercialized for the domestic and export market, respectively, explaining that gas re–injected, fuel gas and gas flared, stood at 1,269.59BCF.
In the Downstream Sector, Petroleum Products Marketing Company (PPMC), NNPC’s Downstream entity in charge of bulk supply and distribution of petroleum products, distributed and sold 2.775billion litres of white products in December, 2019 compared with 0.841billion litres in November, same year.
This comprised 2.762billion litres of Premium Motor Spirit (PMS) otherwise called petrol, 0.013billion litres of Automotive Gas Oil (AGO) or diesel, and 0.000billion litres of Dual Purpose Kerosene (DPK) as well as sale of special product of 0.003billion litres of Low Pure Fuel Oil (LPFO) in the month under review.
The MFOR indicated that sale of white products for the period December, 2018 to December, 2019 stood at 21.861billion litres, with PMS accounting for 21.514billion litres or 98.41 per cent.
In terms of value, ¦ 337.63billion was made on the sale of white products by PPMC in December, 2019, compared to ¦ 105.62billion sales in November, 2019.
The report said revenues generated from the sales of white products for the period December, 2018 to December, 2019 stood at ¦ 2,705.76billion, with PMS contributing about 97.56 per cent of the sales with a value of ¦ 2,639.68billion.
The 53rd edition of the MFOR reported 40 vandalized pipeline points, representing about 41 per cent decrease from the 68 points vandalized in November, 2019.
The report said that out of the vandalized points, 10 failed to be welded, while none was ruptured.
Atlas Cove-Mosimi and Mosimi-Ibadan axis accounted for 35 per cent and 30 per cent of the breaks respectively, while other routes accounted for the remaining 35 per cent.
NNPC explained in the release that it had stepped up collaboration with the local communities and other stakeholders to stem pipeline vandalism menace.

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 We’ll Be Intentional In Our Support To Improve NYSC Scheme -Fubara

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Rivers State, Sir Siminalayi Fubara, has assured members of the National Youth Service Corps (NYSC) of his administration’s commitment to supporting and strengthening the scheme in the State.

Fubara gave the assurance last Friday at the NYSC permanent orientation camp, Nonwa-Gbam, Tai Local Government Area in the State, during the swearing-in ceremony of 2026 Batch B Stream II orientation course.

Represented by the Permanent Secretary, Cabinet Bureau, Office of the Secretary to the State Government, Dr. Promise Oguzie, the governor said the State Government would remain intentional in providing the necessary support to improve the NYSC scheme and enhance the experiences of corps members deployed to the state.

He charged the corps members to be role models and quality nation-builders in their service to the good people of Rivers State in particular, and Nigeria at large.

“I charge you to be exemplary, dedicated and committed in all you do. Take full advantage of all the camp programmes and activities to enrich yourselves”, he said.

In his welcome address, the State Coordinator of NYSC in Rivers State, Mr. Moses Oleghe, urged corps members to see their deployment to Rivers State as a “veritable opportunity to make meaningful contribution to the growth of the State in particular and Nigeria at large.”

He further charged them to serve with all sense of “integrity,  discipline, and the fear of God, especially when they will be engaged as INEC ad-hoc staff that will conduct the 2027 general elections.”

A total of 3,584 corps members composed of 1,421 males and 2,163 females were sworn in by the Chief Judge of Rivers State, who was represented by Justice Godspower Aguma.

 

 

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Fubara: Nigeria Needs God-fearing Leaders To Make Progress  …Applauds Seventh Day Adventist

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Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.

The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of  the church at Government House, Port Harcourt.

Fubara who hailed  the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria,  expressed delight  that the  Church had over the years,  been investing in education at various levels and currently runs two universities in the country.

He commended the church for not only using its  institutions to spread the gospel of  Christianity but to groom future leaders for the country.

According to him, religion should not be just about defending one’s faith, but also  making meaningful impact on the lives of the people.

He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria  in the task of producing not only educated people but a breed of God-fearing  leaders.

“Our country is where  it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation,  you’ll go beyond the line and that is what has brought us to where we are today.

“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.

Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society,  has also given rise to other problems such as social  inequality, poverty, corruption  and criminality. According to him, Nigeria needs a  system where the average parent could afford  quality education for their children and a  guarantee that upon graduation, the average  child  will have the  capacity to compete favourably with anybody, anywhere in the world.

“If we have a  situation where the little money that you’re being  paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices  we have today won’t be there,” he said.

Governor Fubara expressed appreciation to  the  delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.

Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s  ministers will  be undergoing  an  empowerment programme to further equip  them for the task of herding their flocks and serving the society.

He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.

Kohler disclosed that the Church has over twenty -four million  (24,000,000) members and more than 182,000 places of worship,  spread across 212 countries of the world.

 

 

 

 

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Rivers Assembly Approves Fubara’s 2026–2028 MTEF

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The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.

 

This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.

 

The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.

 

Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.

 

Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.

 

He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.

 

The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.

During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.

 

The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.

 

Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.

 

Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.

 

The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.

 

According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.

 

Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.

 

The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.

 

King Onunwor

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