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NNPC Ltd launches crude theft monitoring applications

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NNPC Ltd launches crude theft monitoring applications

The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Friday launched  ‘Crude Theft Monitoring Applications’ to curb oil theft and pipeline vandalism.

The News Agency of Nigeria (NAN) reports that the launch was held in Abuja on the sideline of the signing of renewed Production Sharing Contracts (PSCs) agreements between NNPC and its partners in Oil Mining Leases.

The portal with the address ‘stopcrudetheft.com’ could also be accessed through a mobile phone.

The portal has application options for reporting incidences, with prompt follow-up and responses, and another one for crude sales documents validation.

Speaking during the launch, Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd. said ”vandals’ actions on pipelines became a difficult thing to deal with, but it engaged partners to ensure that it responded to the situation.”

According to the GCEO, there was involvement of government regulatory bodies, security agencies and host communities while it put up a robust framework to curtail the menace.

“There are still ongoing activities of oil thieves and vandals on our pipelines and assets, very visible in the form of illegal refineries that are continuously put up in some locations and insertions into our pipeline network.

“Arrests have been made and vessels have been arrested by Nigerian Navy, I commend the Armed forces, in the last three months, they have done substantive work and had destroyed some illegal refineries,” he said.

Kyari said international refineries where the stolen crude could be taken to had obligations to ensure they bought Nigerian crude from credible sources which could be validated.

He said, ”if they refused to do that, they would be held responsible as part of the culprits involved.”

He explained that the platforms were created for members of the communities and other Nigerians to report incidences of theft and be rewarded.

Kyari urged that on the international arena, companies must report suspicious sale.

He further said,”every product that left the country must have a unique registration number by the NNPC and validated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

“Ahead of this, we are also creating a platform where end-users, particularly refiners and traders can validate the product.

READ ALSO: Atiku Reacts to Buhari’s Unveiling of NNPC Limited

“We cannot do this without international collaboration. It is impossible for any refinery to take a crude they do not know the source, refineries are designed to process certain specific grade of crude.

“It is their duty to ensure that they validate this, because we have unique number of every crude that leaves this country,” he said.

The GCEO, while stating that it has a total coordination process now, said it had a line of sites around all marine movement in the country and had created a functional platform.

“We have visibility around everyone’s operations and the Economic and Financial Crime Commission (EFCC) is following everyone related to those transactions.

“Wherever there is massive movement of cash, EFCC will follow the person, we believe that the combination of all these will get us back to normalcy,” he said.

NEWS

Moghalu Prescribes Good Governance As Panacea To Ethnic Agitation

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The President of the African School of Governance, Kingsley Chiedu Moghalu has admonished state actors against resorting to brutal force in the bid to muscle out separatist agitators.

In the aftermath of Mazi Simon Ekpa, the Finland based Biafran nationalist agitator being caught in legal web and the Nigerian government moving swiftly to seek his repatriation, the former deputy governor of the Central Bank of Nigeria (CBN) has cautioned that ‘We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.’

ALSO READ: Finnish Police Arrest Simon Ekpa Over Terror-Related Allegations

The political economist, while expressing his hope in Nigeria, made it clear that “hope is not a strategy”.

He bared his mind in a series of posts on his verified handle on micro-blogging site, X on Friday.

Moghalu wrote, “Despite sustained contemporary difficulties, I am hopeful about Nigeria. But hope is not a strategy. We need to improve state capacity for effective governance.

“We either fix our problems, or our problems will eventually “fix” us. No alternative to a renegotiated union.

“We must learn to be honest with ourselves and address the root causes of our problems. Why ignore them, when the problem is actually quite solvable? The problem with continuing with this approach is that when the danger crystallizes, those who thought they were benefiting from

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NEWS

N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden

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Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.

In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.

READ ALSO: CSR: Dangote Cement Fuels Education With Support Projects At Lagos Schools

He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.

The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.

“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.

He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.

“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.

Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.

“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said

He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.

“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”

Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.

He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.

“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.

Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.

“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.

He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.

 

 

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International News

ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others

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The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.

The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.

In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”

READ MORE: Osun Govt Decries Attempted Murder Of Park Mgt  Chairman By Police

The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.

Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.

The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.

With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.

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