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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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Political Earthquake Brewing? Peter Obi, Bala Mohammed in Closed-Door Talks

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Former Labour Party presidential candidate in the 2023 general election, Peter Obi, on Thursday visited Bauchi State for a closed-door meeting with Governor Bala Mohammed amid growing political realignments in the country.

Obi, who is also a chieftain of the African Democratic Congress (ADC) opposition coalition, arrived at the Bauchi State Government House where he proceeded to a private meeting with the governor at the Presidential Lounge.

SEE MORE: PDP Chieftain Explains Why Peter Obi Could Restore National Hope in Nigeria

The purpose of the visit was not immediately known as both politicians held discussions behind closed doors.

Details of the meeting remained undisclosed at the time of filing this report.

However, sources within the Government House suggested that the meeting may be connected to recent political developments and possible alignments ahead of future elections, though this could not be independently verified.

Both leaders are expected to brief journalists after the meeting concludes.
Governor Bala Mohammed, who serves as Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, has recently been at the center of political speculation regarding his party allegiance.

On March 31, he reportedly hinted at a possible political shift during a meeting with a delegation of the African Democratic Congress led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi.

However, his political engagements appeared to take a different turn shortly after, as he also hosted the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, alongside Kano State Governor, Abba Yusuf, on April 1 at the same venue.

The latest meeting with Obi has further intensified speculation about ongoing political consultations and possible future alignments among key political actors.

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JUST IN: Nigeria’s Debt Profile Set to Rise as Tinubu Requests Fresh $516m Foreign Loan

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President Bola Tinubu has requested the approval of the Senate for a fresh external borrowing of $516.33 million, in a move that is expected to further raise concerns over Nigeria’s growing debt profile.

The request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and was read during plenary on Thursday at the National Assembly.

READ MORE: WC 2026: Don’t Go Into Debt to Support Scotland, Coach Warns Fans

According to the letter, the proposed loan is to be sourced from Deutsche Bank and will be used to finance a key infrastructure component under the government’s already approved borrowing programme—the Sokoto–Badagry Super Highway project, a major road corridor designed to enhance connectivity across the country.

President Tinubu, in the request, urged the Senate to give the proposal expedited consideration and approval, stressing the importance of the project to national infrastructure development and economic growth.

Following the reading of the letter, Senate President Akpabio referred the request to the Senate Committee on Local and Foreign Debts, directing the committee to examine the proposal and submit its report within one week.

The latest borrowing request comes amid ongoing national debates over Nigeria’s debt sustainability, as the federal government continues to rely on external loans to fund large-scale infrastructure projects.

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Shock as Court Rejects El-Rufai’s Bail Application, Orders Continued Detention

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A Kaduna State High Court has rejected the bail application filed by former Kaduna State Governor, Nasir El-Rufai, ordering that he remain in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) pending the determination of his trial.

The ruling was delivered by Justice D.H. Khobo, who held that the seriousness of the allegations against the former governor, as well as concerns over possible interference with ongoing investigations, made the grant of bail inappropriate at this stage.

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El-Rufai had approached the court seeking release on bail pending trial over a nine-count charge filed by the Federal Government through the Independent Corrupt Practices and Other Related Offences Commission.

He argued that the offences were not capital in nature and that he posed no flight risk, citing his community ties, fixed residences, and willingness to cooperate with investigators.

He also told the court that he voluntarily returned to Nigeria to honour official invitations and challenged the validity of the charges, describing them as defective.

Additionally, he raised health concerns, requesting bail on medical grounds.

However, the prosecution opposed the application, insisting that the alleged offences were serious and economically damaging, with a likelihood that the defendant could interfere with witnesses and ongoing investigations.

In his ruling, Justice Khobo held that the gravity of the charges and the risk of interference outweighed the arguments for bail.

The court also ruled that insufficient medical evidence had been provided to justify release on health grounds.

The judge therefore ordered that El-Rufai remain in ICPC custody and directed that the trial proceed on an accelerated basis, fixing early hearing dates for the case.

The former governor will remain detained as proceedings continue in the high-profile corruption trial.

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