News
‘Foreign Refineries Process N2.39trnOil For Nigeria In 13 Months’
Foreign refineries processed crude oil valued at N2.39trillion between March, 2020, and March, 2021, to ensure domestic supply of refined petroleum products in Nigeria as the country’s plants remained in a state of disrepair.
Figures, last Friday, from a report by the Nigerian National Petroleum Corporation (NNPC) on the breakdown of the utilisation of crude oil for domestic product supply showed that the commodity was processed during a 13-month period.
The corporation, in its latest April, 2021 report, said the volume of crude processed by the foreign facilities between March, 2020 and March, 2021 was 145,86million barrels.
It explained that the oil was processed under the Direct-Sales Direct-Purchase scheme, adding that no delivery of crude was made to any of the refineries under the NNPC’s management.
NNPC manages the country’s refineries located in Warri, Port Harcourt and Kaduna.
Rehabilitation has commenced in Port Harcourt, while funding has been approved by the Federal Government for the revamp of Warri and Kaduna refineries.
An analysis of the report further showed that from March, 2020 to March, 2021, no drop of crude oil was delivered to any of the local refineries for processing.
The corporation, however, said it had been lifting crude oil on a monthly basis and processing the commodity through the DSDP scheme to meet the demand for petroleum products across the country.
In March, 2021, for instance, the oil firm said, “NNPC lifted 7,553,150 barrels of crude oil from the daily allocation for domestic utilisation translating to an average volume of 243,650 barrels of oil per day in terms of performance.
“In order to meet domestic product supply requirement for the month of March, 2021, the entire 7,553,150 barrels were processed under the Direct-Sales-Direct Purchase scheme while (there was) no deliveries to the domestic refineries for processing.”
In explaining the DSDP, the oil firm said in compliance with the Public Procurement Act 2007 and NNPC’s Policy and Procedures, it had to engage qualified and credible companies in a Direct Sale of crude oil and Direct Purchase of petroleum product to ensure sustained product supply across the country.
The corporation had over the years adopted the scheme to ensure petrol imports into Nigeria, being the sole importer of the commodity, while other marketers had avoided PMS imports due to inaccessibility of the United States dollar.
NNPC recently stated that it was working to get Nigeria’s refineries functional and start local refining of products from the facilities.
The Group General Manager, Group Public Affairs Division, NNPC, Kennie Obateru, had said that the $1.5billion rehabilitation of the Port Harcourt Refining Company would make part of the facility to start delivering refined products by September next year.
NNPC officially signed the contract with Tecnimont SPA for the $1.5billion rehabilitation programme of PHRC on April 6, 2021, and parties in the agreement announced the commencement of the project.
He said, “The work is progressing. We said it will be completed within 18 to 44 months when counting from April this year. By 18 months some part of the refinery will be producing. The total rehabilitation job will be completed in 44 months.
“Why we said between 18 and 44 months is the fact that it will not be at the end of 44 months before the refinery starts working, but that in 18 months some sections of the refinery will start producing.”
News
Victory Over Insurgency Certain, Tinubu Assures
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
News
US Embassy, Lagos Consulate Close Today For President’s Day
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
News
Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
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