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FG Plans Database for Oil Sector Commerce

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FULL TEXT: President Buhari Delivers Last New Year Message To Nigerians

The Nigerian Government has unveiled plans to set up a reliable database with which she can determine appropriate tariff methodology for transportation and bulk storage of crude oil and natural gas.

This was contained in a statement issued in Abuja on Sunday, by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), under the signature of its General Manager, Corporate Communications, Kimchi Apollo.

It quoted Authority Chief Executive (ACE), NMDPRA, Farouk Ahmed that the 2022 Petroleum Liquid Inventory Reconciliation Exercise held from Feb. 6 to Feb. 10, in Lagos.

Ahmed revealed that the exercise involved the NMDPRA, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Crude Oil and Gas Export Companies (COGEC), the Central Bank of Nigeria (CBN), and the Nigeria Extractive Industries Transparency Initiative (NEITI).

He maintained that the expanded data ecosystem would cover petroleum liquid volumes evacuated by trucking, barging and pipelines.

Ahmed said, “It will include a data system on terminal receipt volumes and terminal stock records, crude oil inventory records per company, per terminal, quantities delivered to and received into refineries.

“It will also include quantities evacuated to other midstream storage facilities, export permit volumes as well as actual export volumes per company, per terminal.”

The ACE also averred that the reconciliation exercise was scheduled to establish and authenticate a common data on midstream statistics relating to crude oil, condensates, natural gas and its derivatives.

According to him, the reconcile data would provide the basis for the administration of petroleum liquid supply license and guide the appraisal of licenses, authorisations and approvals issued in the midstream sector relating to petroleum transportation, storage and exports.

“This reconciliation will be beneficial to our stakeholders, in that, the dataset will also be of interest for NEITI audit, OPEC questionnaire and Joint Oil Data Initiative. It will also assist the National Assembly in its oversight function.

“Similarly, it can be used by security agencies for investigations and the Federal Ministry of Finance for monitoring the repatriation of export proceeds and royalties remittance by exporters of crude oil and natural gas,” he said.

Ahmed said the Authority, as the custodian of petroleum products data bank would continue to ensure the provision of credible, reliable data for all petroleum operations in the country.

The Petroleum Industry Act 2021 (PIA) mandates the NMDPRA to periodically reconcile data on crude oil terminal receipts, exports, refinery delivery, Oil and Gas transportation, and other related statistics that are of interest to the Federation as this directly affects royalties being remitted.

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Obi Asks World Bank, Banks to Verify Anambra Debt Claims

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Former Anambra State Governor Peter Obi has called on the World Bank and Nigerian banks to verify records relating to the debt claims made against his administration, insisting that the figures being presented by the state government should be subjected to documentary scrutiny.

Obi made the call during an interview on Arise TV’s Prime Time programme on Thursday, September 24, 2026, while responding to the Anambra State Government’s claims over loans allegedly incurred during his eight-year tenure.

ALSO READ: 2027: Peter Obi Disowns OK Movement Campaign Council, Says ‘It Is Wrong’

The former governor specifically urged the World Bank to provide records showing the actual drawdowns from the facilities linked to Anambra, rather than relying on the total amount originally approved or contracted.

“Please publish these documents. I’m urging you, please. The World Bank is in Abuja; they can give you the history of the drawdowns,” Obi said.

He also challenged the relevant Nigerian banks to verify the financial records he said were contained in his 2014 handover documents.

“The banks mentioned here are Nigerian banks; you have access to their headquarters. Ask them whether this money was there,” he added.

Obi’s comments came amid a dispute over the Anambra Government’s earlier claim that eight external loan facilities associated with his administration had an outstanding balance of about N127.4bn as of June 30, 2026.

The state had linked the loans to projects in areas including education, healthcare, erosion control and malaria prevention.

The former governor disputed the presentation, arguing that approved loan facilities should not automatically be treated as money borrowed or spent if the funds were not actually drawn down.

He maintained that some of the funding arrangements involved Federal Government-backed concessionary financing and said the World Bank records could establish when the money was accessed.

The controversy has since shifted towards the actual amount drawn from some of the facilities.

Anambra State Commissioner for Information and Value Reorientation, Law Mefor, reportedly acknowledged during an Arise TV appearance that the government had not properly verified the amount actually drawn from a $123m facility before citing the larger figure. He said the government would seek clarification from the relevant authorities.

The development has added another layer to the disagreement between Obi and the Anambra Government over the state’s financial position at the end of his administration.

Obi has consistently maintained that he left office in March 2014 without outstanding salaries, pensions, gratuities or certified contractor obligations, while the state government has continued to dispute aspects of his account of the state’s inherited liabilities.

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‘Where Is the President?’ — Peter Obi Questions Tinubu’s Prolonged Absence

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Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has questioned President Bola Tinubu’s prolonged absence from Nigeria, saying Nigerians deserve to know the President’s whereabouts amid the country’s security challenges.

Obi made the remarks on Arise TV on Thursday while discussing the President’s absence from the country and the situation surrounding other senior government officials.

According to Obi, the issue was not simply that Tinubu was outside Nigeria, but that he had remained abroad beyond the period initially announced for his trip.

ALSO READ: ‘Borrowed Funds Not Spent Cannot Be Counted as Debt Left Behind’ -Peter Obi

“It’s not just that he’s out of the country. He’s out of the country beyond the days he was supposed to be. Beyond the days they even said he was going for,” Obi said.

He also noted that Vice-President Kashim Shettima was outside the country, while Senate President Godswill Akpabio was also reportedly abroad and the Senate was not in session.

“The Vice President is not in the country. And I understand the Senate President is out of the country, the Senate is not in session,” he said.

Obi expressed concern about the situation against the backdrop of insecurity and recent incidents involving the deaths of suspected illegal miners in Niger State.

“We don’t need this level of rascality at this moment in time, when Nigerians are being kidnapped, being killed, things are… we need a country where we have somebody, where we have competence, capacity, and compassion,” he said.

Referring to the deaths recorded in Niger State, Obi said the presence of the country’s chief executive was particularly important during a crisis.

“Look at Niger State now, where 10 people… where some young people have died for nothing,” he said.

The former Anambra State governor argued that while there is a chain of command within government, delegation should not replace the physical presence of the country’s leader during critical situations.

“It is… the CEO being present is critical at a time of crisis. Not delegation. Yes, you have a chain of command,” Obi said.

He subsequently asked where the President was and insisted that Nigerians should be informed.

“Where is the President? Nigerians ought to know,” he said.

Obi also said that, if elected president in 2027, he would make his whereabouts publicly known whenever he travelled.

“If I travel today, I tell people where I am. When I become President, Charles, people will know where I am 24 hours,” he said

“That is public space, public office,” Obi added.

The comments come amid continuing public debate over the absence of the President and Vice-President from Nigeria.

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‘Borrowed Funds Not Spent Cannot Be Counted as Debt Left Behind’ – Peter Obi

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The presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election, Peter Obi, has challenged the way government borrowing is accounted for, arguing that funds borrowed but not actually drawn down should not be treated as debt left behind by an administration.

Obi made the remarks during an interview on Arise TV on Thursday while explaining his position on borrowing during his tenure as governor of Anambra State.

“That is a wrong public accounting. Even if I had gone to bank and borrowed money, but I did not spend the money, you cannot call it debt I left,” Obi said.

RELATED NEWS: 2027: Obi Wants to Transform Nigeria After 8 Years of Failure in Anambra — Onanuga

He illustrated his argument with a hypothetical ₦10 billion loan facility, saying that where only ₦500 million was actually drawn, it would be inaccurate to describe the entire ₦10 billion as money owed.

“They gave me a loan of 10 billion Naira, and Charles, I only drew down 500 million. You cannot say I’m owing 10 billion, because you know the amount,” he said.

The NDC candidate said such a practice would amount to improper public-sector accounting.

“That’s why I said it is not proper public sector accounting,” Obi said.

He also cited the former Director-General of the Debt Management Office, Abraham Nwankwo, whom he said served for 10 years, in support of his claim about his borrowing record as Anambra governor.

Obi recalled that Nwankwo invited him to his send-off ceremony and publicly explained why he had selected Obi as chairman of the event.

“He announced it to everybody in that party that the reason why he made me chairman is because I was the only governor in Nigeria who never came to his office for approval to borrow money,” Obi said.

Anambra Debt Controversy

Obi’s comments come against the backdrop of continuing debate over the debt profile he left behind after serving as Anambra State governor from 2006 to 2013.

The former governor has consistently defended his administration’s financial record, while figures and claims about Anambra’s debt during and after his tenure have generated public debate.

 

 

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