Breaking News
Exclusive: Buhari Under Pressure To Postpone Presidential Election
By Biztellers
Barring any last-minute development aimed at restoring the break down of normal daily activities across the country, the forthcoming general elections will be postponed.
Our investigation reveals that President Muhammadu Buhari is currently under intense pressure to postpone the elections indefinitely until normalcy is restored across the country.
This is coming on the heels of the Central Banks’ new naira policy, which has just been extended by the CBN until February 10 2023.
A highly placed Presidency official who spoke on the condition of anonymity told our correspondent over the phone that highly placed elder statemen and leaders of thought are already appealing to the President not to allow the elections to hold under these very stringent and tough conditions.
“No electricity, no Petrol, no money, no security. It is common knowledge that this is a serious and unprecedented development in our national history, and no responsible leader will want to go into a national and keenly contested election under such circumstances.”
He however, noted that the president is not likely to take any decision on this issue without consulting with stakeholders, especially the umpire, Independent National Electoral Commission, INEC.
Further investigation reveals that the electoral umpire INEC has already expressed concerns with regards to the ongoing petrol and currency scarcity.
According to INEC the situation if unresolved is capable of adversely affecting its readiness for the general elections, especially its ability to deploy logistics accross the country.
Biztellers would continue to update the public as the situation unfolds and the President’s line of action is decided.
Breaking News
NNPC JV Unveils New Crude Oil Grade ‘Nembe’, Commences Exports With 1,900 Barrels
Precious ADELOLA
The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market.
The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday.
OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in 2014.
The Nembe Crude was previously blended with the popular Bonny Light grade and exported via the Bonny Oil & Gas Terminal.
The unique selling point of the Nembe Crude Oil grade with an API gravity was highlighted by both the Aiteo E & P and NNPC Limited Leadership at the Argus Conference in London.
The Nembe Crude Oil grade also has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.
Two cargoes of 950,000 barrels each of the Nembe Crude Oil grade have since been exported to France and the Netherlands. With its attractive Assay of API 29 and low sulphur content, the Nembe Crude Oil grade commands a premium to the global Brent benchmark.
With the NNPC-Aiteo OML 29 JV back on-stream, Nigeria now boasts of an additional crude oil export of 2 Cargoes at 950,000 barrels each per month and 1.2 Bcf of export gas monthly.
This remarkable achievement signals the commencement of activities at Nigeria’s newest crude oil terminal, the Nembe Crude Oil Export Terminal (NCOET), which was licensed in line with the extant laws and Crude Oil Terminal establishment regulations.
The terminal was conceived as a Floating Storage and Offloading Vessel (FSO) with a storage capacity of two (2) Million Barrels and the ability to offload crude oil to any export tanker from AFRAMAX to Very Large Crude Carriers (VLCC).
It has a loading capacity of 25,000 barrels per hour and will be exporting over 3.6 million barrels of Crude oil monthly at full scale of operation.
Currently, hydrocarbon production from OML 29, which was hitherto constrained due to evacuation challenges owing to the security issues around the Nembe Creek Trunk Line (NCTL) corridor, has now been resolved through a collaborative and creative approach that led to the innovation of the Alternative Crude Oil Evacuation Solution.
The Argus European Crude Conference 2023 in London is a gathering of energy majors, refiners, NOCs, traders, financial institutions, and other representatives from across the global oil markets. The event also provides a critical opportunity for business leaders to connect, discuss, share and learn from one another.
Breaking News
Nigeria Owes NNPCL US$3.1bn, As Subsidy Hits US$921.5m Monthly
Breaking News
JUST IN: Tribunal Sacks Gov Uba Sani, Declares Election Invalid
Governor Uba Sani of the All Progressives Congress (APC) was removed from office on Thursday by the governorship Election Petition Tribunal sitting in Kaduna State.
The panel ruled that the state’s 2023 governorship election was invalid.
According to information gathered by Biztellers, the judges avoided the actual auditorium and instead communicated the decision via zoom.
It commanded the holding of new elections in seven wards across four local government units in the State.
Isa Ashiru, a candidate for the Peoples Democratic Party, and the PDP filed the petition.