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Kachikwu Canvasses Fuel Subsidy Removal …As FG Slams $1.1bn Suit Against Shell, Eni

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Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, yesterday, stated that until the downstream sector of the Nigerian petroleum industry is liberalised and subsidy of petroleum products removed, the country would continue to struggle and face challenges in terms of ensuring stable fuel supply.
Speaking in Abuja, at the presentation of the key achievements of the Ministry of Petroleum Resources in three years, 2016 to 2018 and award to staff of the ministry, Kachikwu argued that to address fuel supply challenges, the country needed to find a way to satisfy the need to provide products sufficiently for the populace and at the same time to be able to free the sector for growth.
be able to free the sector for growth. He said, “In the midstream and downstream sectors, we have struggled. I would love to see a day when there would be no fuel scarcity in this country. But for that to happen, there are certain realities. The liberalization of the sector is going to be a panacea to being able to solve this. As long as we continue to subsidise products, create market-unfriendly type practices, we would continue to struggle.
“We are not going to trade our way out of the fuel crisis by bringing sufficiency, by expanding reserves, by extravagant costs which cost the country a lot of money; that is not the solution. The solution is to get our refineries working.”
Kachikwu noted that investments are lacking in the petroleum sector, adding that over the years, refineries’ turn around maintenance, TAM, had been fraught with faulty models which had hampered the effectiveness of the refineries.
Meanwhile, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says the Federal Government is targeting to grow the crude oil production to 2.2 million barrels per day (mbpd) by the end of January, 2019.
Kachikwu made the disclosure during the presentation of the ministry’s achievements in three years (2016 to 2018) and awards to staff in Abuja yesterday.
He said that by the end of 2019, crude oil output would have hit 2.5 million barrels based on the coming on stream of the Egina field and the recently approved 30 field works which had the capability of increasing Nigeria’s output by 500,000 barrels per day.
“Crude oil production had been sustained at a fairly large level. We started at 800,000 barrels and we have grown it to about two million barrels.
“We should be doing more but for the cyclical difficulties in terms of occasional pipeline disruptions and occasional closure for purpose of maintenance.
“We are averaging about two million barrels and about 300,000 of that are roughly condensates.
“Really, by the end of January 2019, we should have grown production to about 2.2 million barrels which have been our signpost.
“In addition to that, there are 30 other field works that have been approved by the Department of Petroleum Resources, which have the capacity of adding about 500,000 barrels per day production,’’ he said
According to Kachikwu, by the end of 2019, the country will be averaging 2.5 million barrels production, which will be the first time it will be done in the country.
The minister said that the oil reserves had been grown by over 600 million barrels, rising from 36.18 million barrels to 37.2 million barrels.
He noted that government had been able to grow the gas reserves from 192 trillion cubic feet to 199.09 trillion cubic feet of gas in two years.
Kachikwu said: “We discovered so many new fields, like Owowo. We have been able to grow rig activity in the country.
“ When we assumed office, the rig activity in the country was about two to three rigs that were operating in Nigeria at the time.
“As at 2017, we had about 21 rigs in operation, up from about 16 rigs in operation in 2016.
“Hopefully, with the big FPSOs, it is beginning to look as if there are possibilities in Nigeria. We expect to see a lot more rig activity in Nigeria.’’
In another development,the Nigerian government is taking oil giants Shell and Eni to court in London, requesting the return of $1.1 billion (969 million euros) as part of a case of alleged corruption dating back to 2011, Bloomberg reported yesterday.
FG alleges that the money was used by the companies to buy an oil exploration licence in the Gulf of Guinea but was diverted to bribes and kickbacks, the report said.
The government alleges that Shell and Eni were partly responsible for the fact that “corrupt Nigerian officials” used the money for personal enrichment, it added.
The alleged corruption is already the subject of a separate court case in Milan in which Nigeria is a civil party. Shell and Eni have always denied any unlawful action.
In a statement yesterday, a Shell spokesman said that the deal in 2011 was “a fully legal transaction with Eni and the Federal Government of Nigeria”.

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No Aso Rock Kitchen Staff Attempt To Poison Tinubu –Presidency

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The Presidency has dismissed circulating social media reports alleging that kitchen staff at the Aso Rock Presidential Villa were arrested over an alleged plot to poison President Bola Tinubu.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, made the clarification yesterday on his official X account where he shared a video of the report and categorically denied it.

The video purportedly shows activity at the presidential villa, accompanied by a voiceover reporting the incident.

The video claimed, “Today we examine reports surrounding the shocking arrest of a presidential chef over an alleged plot to poison President Bola Ahmed Tinubu, an incident that has prompted swift intervention by a special police squad and triggered heightened security measures within the presidential environment.

“According to preliminary information from security sources, the arrest followed intelligence alerts suggesting suspicious activities connected to food preparation procedures within restricted areas linked to presidential operations.

“Authorities moved quickly after receiving credible reports that indicated a possible threat to the safety of the president, leading to a coordinated investigation involving specialised security personnel tasked with protecting national leadership.

The video added, Officials emphasized that the operation was carried out professionally and discreetly to avoid public panic while ensuring that all potential risks were neutralised.

“The suspect, identified as a member of kitchen staff attached to presidential services, was reportedly taken into custody for questioning as investigators began examining evidence and verifying claims connected to the alleged poisoning attempt.

“Security agencies have urged the public to remain calm, stressing that the investigation remains ongoing and that allegations do not automatically imply guilt until due process.”

However, Onanuga dismissed the report as baseless fake news.

He wrote, “No Aso Rock kitchen staff arrested. No Aso Rock kitchen staff attempted to poison President Tinubu. Please ignore this fake news being disseminated by this video.”

As of the time of going to the Press authorities have not provided further details on the origin of the misleading video or potential motives behind its circulation.

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US, China Clash As Iran TV Confirms Supreme Leader Ayatollah’s Death

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Iranian state television yesterday confirmed the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, without referring to a massive US and Israeli attack on his residence.

A presenter on state television announced Khamenei’s death at 5:00 am (0130 GMT), as the channel broadcast archive images with a black banner as a sign of mourning.

Khamenei, 86, had been Iran’s supreme leader since 1989.

US President, Donald Trump, had on Saturday said that Khamenei had been killed in air strikes, though there has been no confirmation from Tehran.

“Khamenei, one of the most evil people in History, is dead,” Trump said on his Truth Social network.

“This is not only Justice for the people of Iran, but for all Great Americans, and those people from many Countries throughout the World, that have been killed or mutilated by Khamenei and his gang of bloodthirsty THUGS.”

Trump said the Iranian leader had been “unable to avoid our Intelligence and Highly Sophisticated Tracking Systems.”

The US President said the death of Khamenei gave Iranians their “greatest chance” to “take back their country.”

“We are hearing that many of their IRGC, Military, and other Security and Police Forces no longer want to fight and are looking for Immunity from us.

“As I said last night, Now they can have immunity, later they only get death! Hopefully, the IRGC and Police will peacefully merge with the Iranian patriots and work together as a unit to bring back the country to the greatness it deserves.

“That process should soon start in that, not only the death of Khamenei but the country has been, in only one day, very much destroyed and, even, obliterated.

“The heavy and pinpoint bombing, however, will continue, uninterrupted throughout the week or, as long as necessary to achieve our objective of peace throughout the Middle East and, indeed, the world!” Trump posted.

However, China has strongly condemned the attack and killing of Iran’s supreme leader.

A Chinese foreign ministry spokesperson condemned the killing yesterday when asked to comment on the death of Iran’s Supreme Leader in the military strikes launched by the United States and Israel on Saturday in Tehran.

The attack and killing of Iran’s supreme leader is a grave violation of Iran’s sovereignty and security, said the spokesperson, adding that it tramples on the purposes and principles of the UN Charter and basic norms in international relations.

China urges for an immediate stop to the military operations, no further escalation of the tense situation and joint effort to maintain peace and stability in the Middle East and the world at large, the spokesperson added.

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Banigo Harps On Importance Of Nurturing Girl-Child …Says Everyone Is A Leader On His Own Right

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The Senator representing Rivers West Senatorial District, Ipalibo Harry Banigo, has urged Nigerians, particularly women, to recognise that leadership exists at every level of society and that everyone is a leader within their own space.

Banigo made this call in Port Harcourt at the weekend during her Induction/Decoration as an AWLO Life Patroness, Unveiling of AWLO’s 2026 Magazine and Relaunch of the Rivers State Chapter.

Speaking with newsmen after the induction, the former Rivers State Deputy Governor emphasised the importance of nurturing and mentoring young girls, warning that neglecting the girl-child comes with far-reaching consequences for society.

According to her, investing in the growth and development of young girls is crucial to building a responsible and progressive nation.

“Well, everybody, to be honest with you, is a leader in their own space. If you lose your girlhood, you have lost your life. That is why it is important to catch them young,” she said.

“All my life, I have worked with young women because I believe that as we mentor them, they are meant to learn from us for the fulfilment of their God-given purpose,” she added.

The lawmaker further stressed the need for urgent and deliberate steps to ensure women are not left behind in national development, noting that any neglect of women ultimately affects the entire system and the larger society.

She highlighted education, healthcare, and skills acquisition as critical areas of focus, while calling for sustained efforts to keep girls in school and enable them to advance as far as their abilities permit.

Banigo also underscored the need for improved healthcare facilities to prevent maternal mortality and deaths from preventable diseases, while also advocating for vocational training and skill development opportunities for girl child.

According to her, raising responsible girls ultimately leads to building responsible adults and, by extension, a stronger and more purposeful society.

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